BCC REALTY REPORT - AS OF JULY 31, 2013

Total 2 BR for sale:          17

High              $475,000

Low               $192,990

Median          $221,000

Sold  2 BR YTD:              11                SP/LP       Days on Market

High              $225,000                             97%                  155

Low               $160,000                             87%                   60

Median          $190,000                             92%                   77

Total 1 BR for sale:            6

High              $175,000

Low               $135,000

Median          $143,550

Sold 1 BR YTD:                 5                 SP/LP          Days on Market

High              $175,100                             96%                    72

Low               $110,000                             76%                     5

Median          $130,000                              93%                   21

Information provided by Margaret Matinale, Lic.Assoc.Broker, Galleria International Realty, 954-298-2527 Fax 954-771-7367, email: Margaret@matinalerealtor.com  

BAY COLONY CLUB CONDO - BLOG COMMENTS

Apparently I have to remind some folks (again!) that this blog was not created to provide a platform for infantile personal attacks on individuals.  While your blogger may get some chuckles over the twisted imaginations and shear nastiness of some people, those comments will not be published.

Don't see your comment?  Maybe it did nothing to help improve our community.

BAY COLONY CLUB CONDO - BOD MEETING OF JULY 3

Your blogger had a prior engagement and

couldn't get to the meeting so no comments here from us...  yet.
 
However, anyone who was there is invited to comment below.  

If and when we find out what went on, who was deposed and who wears what crown now, we will expand this article.

Thanks for your comments and contributions.

BAY COLONY CLUB CONDO - BOD MEETING OF JUNE 13

Who Was There?

• 23 BCC owners
• Two lawyers
• John Tight, CEO of Campbell Property Management
• All BOD members except Paolo DiPrima

What Got Done?

• ·         Seawall repairs for $71,440 (with an additional $10,000 possible) was approved.
• ·         New roof for Rec 2 at $32,175 (or maybe more) approved.
• ·         Established new rule that BOD members must submit a written request to review Association records.  Requests go to BOD President then routed to manager who is responsible for over-sight.  (What, no more BOD member mad dashes out of the office clutching owners' personal info?)

BCC  Documentation Amendments Dog & Pony Show

Two lawyers from the Association's law firm and the CEO of our management company (Campbell Property Management) were at the meeting.  These hired guns were brought in  to support the proposed Documentation changes.  It's proposed that we institute fairly drastic rental restrictions and reduce the number of owners needed for making future amendments. Reception from the audience was mixed, particularly about allowing future Declaration amendments to be made by 241 owners. 

According to the Board, a grand total of 250 amendment proxies had been received as of the night of the meeting.  The Board was unable to state definitively the percentage pro and con (so far) for the proposed 3 amendments.

Blogger's Comments

In your blogger's opinion:

1.    It was a mistake to combine the rental restriction amendments with the reduction in needed votes on the same ballot.  Rental restrictions may or may not be a good idea (see #2).  Reducing the number of votes required for future Documentation changes is a very bad idea.

2.    Explanations for why rental restrictions are desirable have been vague and unconvincing.  Insurance costs will go up?  How much will that cost each of us?  FHA mortgages won't be available to would be buyers?  How many sales are presently financed by FHA loans?  Renters make undesirable neighbors?  Were renters responsible for our numerous past acts of  vandalism?

3.    The BOD's sales effort on this amending effort has been poor to non-existent.  Only 23 owners attended this meeting.  Only 250 proxies returned to date.  Not a good indication that  480 legitimate "pro" proxies will be obtained in order to change anything.

4.    Two lawyers and the CEO of our management company attended this meeting and presumably will be paid for their time.  How much more time, effort and money will be squandered?
 
 5.  So, now we have a new "rule" that a Board member must submit a written request to inspect Association records.  Designed to prevent a repeat of the "alleged" copying and removal of some owners' files by Saundra Zubko in 2010?  Nope, it was dreamed up because BOD member Bruno wanted to review the amendment proxy ballots.  If this vote is honest, there should be no reason to delay or deny any BOD member or owner access to the proxies.  Another BOD member previously stated that a suggestion to rig the election was made to him.  What are the chances that this voting will be recorded honestly?  (Item added 6/17.)

6.   It's often impossible for the audience to hear the Board's discussion.  BOD members don't use the PA system microphones, and when they do, the feedback hum blots out any speech.  This is unacceptable and probably a violation of Florida law.   

BAY COLONY CLUB CONDO - AMENDMENT VOTE

What to look for with the upcoming vote.

• Forged Unit Information Sheets for most of those not returned by the 6th of June.
• Destruction of all the ballot and Information Sheet return envelopes so their source cannot be determined.
• Forged ballots to match the forged Information Sheets.

 There is absolutely NO WAY  505 legitimate votes will be returned.

VOTE NO OR DON'T VOTE AT ALL!
6/5 Well, here we are and 450 folks havent returened their ballot.  Guess there is no overwhelmng support for these new fangled amendments.

BAY COLONY CLUB - REALTY REPORT AS OF 4/30/13

Total # 2 BR for sale:  12

High         $475,000

Low          $179,900
Median      $225,000

Sold 2 BR YTD:  7       LP/SP*         Days on Market
High         $225,000         97%                    114

Low          $170,000          88%                     15
Median    $200,000          92%                      81

Total # 1 BR for sale:  4

High      $229,900

Low       $138,100

Median  $147,400

Sold 1 BR YTD:  4        LP/SP*         Days on Market

High       $144,000                96%                 2                                                                          
Low        $110,000                92%                 5
Median   $127,500               94%                15       

*LP/SP = Sales Price divided by Listing Price, or what % of the listing price was actually paid.

Information provided by Margaret Matinale, Lic. Associate Broker, Galleria  International Realty, 954-298-2527, fax: 954-771-7367, email: margesells4u@yahoo.com

BAY COLONY CLUB CONDO - MAY 16 BOD MEETING

Board Members Present: DeFinis, Lauth, Pappas, Shelton, Zubko
Audience: About 30 owners (the usual) attending.

What Got Done?:

• Brown & Brown, the Associations insurance agency, gave a presentation.  (Primarily a pitch to BCC owners on Home Owners and boat insurance.)
• The Manager's report included a reference to "personal" landscaping, seeming to imply that anything not planted by the Association is doomed to destruction.  Also that "old, original plantings" would be replaced gradually with new plantings.  As usual, the new manager stated the mess inherited in the office would shortly be put right.
• Finance report was fairly sketchy because (due to new management and accounting firm) just received by the BOD.  Apparently about $20,000 over budget (water and payroll).  
• Screening Committee rejected two proposed leases.  Reasons unstated.  

Old Business

• Rules & Regulations of 2009 are ALL still in effect and will be enforced.  No additional pickups (now 3) or two wheel vehicles (# unknown) to be permitted beyond those now with bar code stickers.
• Seawall and dock repairs of a little over $16,000 were ratified.

New Business

• Pickups presently bar coded will have to park in front of the office or at Rec's after 11:00 PM and before 8:00 AM or they will be ticketed.  No parking during those hours in owner assigned or guest spots at residential buildings.
• Two wheel vehicles will have to be parked at bike racks 11:00 PM to 8:00 AM or they will be ticketed. No parking during those hours in owner assigned or guest spots at residential buildings.
• All Bar code stickers must be applied for at the office and must be applied by office staff. 

 Comments from Your Blogger

• Brown & Brown's representative was apparently incorrect when he stated condo owners are required to carry property insurance.  see:  http://www.insuringflorida.org/articles/condo-law-change-affects-insurance.html  Unless some bank requires you to insure as a condition of your mortgage, you can self insure.
• One hopes that the old, beautiful sea grapes are NOT among the original plantings to be sacrificed to "progress".
• Judicial rulings in Florida have invalidated condo prohibitions against pickup trucks.  See:  http://www.ccfjfoundation.net/courtdecpickup.html  Are we going to face another protracted, expensive legal battle?  (Woof)

For more detail on this BOD meeting, see Bev Houston's Informer at:
https://docs.google.com/file/d/0B5HHQLxes8EZdWh5S3hGdUw1c1E/edit

BAY COLONY CLUB CONDO - DECLARATION AMENDMENTS

Did you get your amendment package?
Did you notice that:

1. Proxies are not on safety paper.
2. No random, non-sequential numbers on proxy return envelopes OR THE PROXIES THEMSELVES.
3. Proxies are to be returned to the Bay Colony Office.
4. No inner, unidentified envelopes are provided for proxies.
5. New unit "Information Sheets" with "owners'" signatures are also being requested.
6. Future amendments to the declaration will only require 241 votes or 37% of the owners.

SEE ANY PROBLEMS HERE?

This amendment procedure is perfectly designed to allow the sort of ballot-stuffing, gerrymandering elections we saw in the past.

if we stand still for this farce, we will see a steady stream of future amendments opening the door to:

• A flood of special assessments (no more "emergency" requirement.)
• Much higher dock fees.  (Let the BOD set fees at will?)
• A really posh and expensive bar at Rec 4.
• Etc., etc.; insert your own nightmare here...