As we get deeper into the first quarter of 2024, Developers and Builders are not slowing down! The DRE | HOA Division at Murow Development Consultants (Murow) has seen a significant increase in both Due Diligence DRE Budgets and “fully phased” DRE Budgets.
In the past (90) days, the Murow DRE | HOA Division has prepared (15) DRE budgets, serving three distinct builders in the Northern California / Bay Area and greater Sacramento regions. Our team of experts – boasting over 60 years of collective experience in HOA management, financial planning, reserve analysis, governance, and DRE budget preparation – has been actively engaged in industry committees such as the CBIA DRE Committee, North State & Bay Area BIA, as well as holding key leadership roles in both the Building Industry Association (BIA) and Home Aid organizations. This intimate involvement allows our division to better gauge HOA assessment impacts and opportunities to mitigate risks and cost overruns associated with HOAs.
The Due Diligence DRE Budget provides a “buildout” of a monthly HOA assessment (dues), in which residents will ultimately be responsible to pay. For developers and builders to determine the various degrees of financial impacts of subsidizing this assessment, Murow provides a “midway” and / or “worst case” phase assessment analysis. This often-forgotten piece of the due diligence process is an important aspect to both the builder and prospective home buyers for evaluating the financial impacts of the HOA assessment.
To find out more about our DRE Budget services (as well as other Murow services), please contact Wendy Bucknum, DRE | HOA Services Director at [email protected]
 Budgets: Often an Afterthought){kind=link}