You’ll see them all the time in real estate information sheets used by both the MLS and by agents, acronyms, but what do they mean? First, if it’s not here then call the office at 561.626.8550 and we’ll be happy to help.
HOPA = Housing for Older Persons Act. These are what we are more commonly referred to as “age restricted” or “55+” communities and you will see them noted in the MLS as HOPA = YES (so 55+) or HOPA = NO. When these communities comply with the requirements of this act they do not need to comply with the fair housing laws which prohibit discrimination based upon age.
HOA = Home Owners Association. These are communities that are governed by a set of recorded documents such as Glengary in PGA National. A home owners association can be minimal (they do little and have low fees) or they can be large and take care of things, expensive things, like manned gates. They can also be a part of a master or Property Owners Association (POA) as is the case here. The properties in Glengary are subject to the use restriction of, and pay fees to, the Glengary HOA. And they ALSO subject to the restrictions of, and pays fees to, the PGA National Property Owners Association.
COA = Condominium Owners Association. These are communities that are governed by a set of recorded documents, specifically a declaration of condominium, such as Dunbar Woods in PGA National. A condominium is more heavily regulated than an HOA. They handle more as a condo is a box in space so everything outside your “box” is a common element that is a common element of all members of the association. Condos typically have higher fees than an HOA but they are (typically) providing more things like pools and tennis courts. They are also paying for insurance on the common elements which, FOR INSURANCE PURPOSES, is the drywall out. The condo carries wind (aka hurricane) and things like flood and liability insurance. COA’s can also be a part of a master Property Owners Association (POA) as is the case here. The properties in Dunbar Woods are subject to the use restriction of, and pay fees to, the Dunbar Woods COA. And they also subject to the restrictions of, and pays fees to, the PGA National Property Owners Association.
You’ll see them all the time in real estate information sheets used by both the MLS and by agents, acronyms, but what do they mean? First, if it’s not her then call the office at 561.626.8550 and we’ll be happy to help. In the meantime, these are the more common ones…
CBS = Concrete Block and Stucco referring to a house constructed with masonry concrete block EXTERIOR walls, typically 8″ thick, covered with stucco. The interior walls are either wood or metal studs.
Frame = Wood framed EXTERIOR walls basic house construction. The interior walls are metal or wood studs. These homes will pay a little more for wind storm insurance and they require an owner who is looks after the property taking care of small items before they become large ones.
This is my blog on wood Vs CBS construction.
HOPA = Housing Older Persons Act (HOPA) which means it is an an age restricted community where owners MUST be 55 (or 62) and older. Some occupants may be under 55 and they still maintain this certification however when the unit is purchased at least one occupant must be over 55 and typically someone under 55 may inherit the property, or a bank may foreclose and own it, however the association would not approve an open market sale to a Buyer who is not 55+. The Park Plaza community in Jupiter is an age restricted community as are Little Club and Sugar Sands. CLICK HERE for a link to some age restricted communities in the area.
HOA = Home Owners Association. Typical in Florida if there’s a gate or any community features like a pool it’s an HOA. Think Condo light and Buyers must be given this Homeowner’s Association HOA – Community Disclosure.
COA = Condominium Owners Association. If it’s in a Condominium then the Buyer must be given this Condominium Rider. The Marina at the Bluffs is a condominium.
POA = Property Owners Association. This is a master association such as the PGA Property Owners Association and Evergrene. Legally, these are the same as an HOA but members of the POA are typically members of a smaller HOA or Condo association as well.
CLICK HERE to see a list of definitions used in the MLS such as…
Active Under Contract – The property you are looking at currently has an executed contract to sell to another person. You may still want to inquire (call us at 561-626-8550) if the Seller is accepting Back Up offers. Typically a Property will be in the MLS as this status until all the contingencies (inspections, financing, Condo/HOA Approval, sale of the Buyers property) are completed. Then it goes “Pending”.
Pending – The property you are looking at currently has an executed contract to sell to another person and all the contingencies have been met. Both parties are moving toward completing the sale.
