BAY COLONY CLUB COND - BOD MEETING OF SEPTEMBER 19, 2013

Your blogger was out of state for the September 19 Board meeting.  

I am providing this post for any public-spirited attendee who would care to report on the action and/or comment on it.

Let's keep the snow birds, the shut-ins and the indolent updated!

AND.... please keep comments focused on what happened at the BOD meeting.

BAY COLONY CLUB CONDO - REALTY REPORT AS OF AUGUST 31, 2013

BAY COLONY CLUB REALTY REPORT AS OF 8/31/13

Total # 2 BR for sale:  19

High         $475,000
Low          $179,900
Median      $231,950

Sold 2 BR YTD:  17      LP/SP*         Days on Market
High         $225,000          97%                  155

Low          $160,000           87%                   60
Median    $190,000           92%                   77

Total # 1 BR for sale:  5

High      $175,000

Low       $134,500

Median  $137,000

 

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

High       $175,100                76%                  72                                                                             
Low        $110,000                76%                    5
Median  $130,000                93%                  21     

*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 - SEPTEMBER 2013 CHAT

NEW!  IMPROVED!  FREE!  YAK AWAY!

Due to popular demand and the fact that most comments have had little or nothing to do with the article they are posted under, your blogger, from the goodness of his heart, will provide a monthly "CHAT ROOM".

You can post a comment here about anything.  Just remember:

1. Keep it clean.
2. Accusations of criminal deeds must include verifiable facts.
3. Accusations of sexual misconduct must include photos. 

 Any particularly popular topic will get its own space.
  

BAY COLONY CLUB CONDO - BOD MEETING OF AUGUST 15

Your blogger was out of state for the August 15 Board meeting.  

I am providing this post for any public-spirited attendee who would care to report on the action and/or comment on it.

Let's keep the snow birds, the shut-ins and the indolent updated!

BAY COLONY CLUB CONDO - TIME TO REFURBISH?

The following email from Jack Israel l is reprinted in its entirety.

"Charlie:

   How about starting a blog item on new carpeting in BCC?  We SAVED $250k last year by cutting contracts.  We budgeted $140k for new carpeting in BCC.  We are all paying for that.  Do people want to replace the 20-year-old+ carpeting or are they happy with it?  Does the board majority intend to spend any money on carpeting this year (it's already August)?  If not, where is that money going?  Rebates at the end of the year?  Lowering the maintenance next year?  Is that a good idea? 

  Also, there is $46k in the budget for upgrading bathrooms in Recs 2 and 3.  What is the story with that?  Do people want Bay Colony Club or Bay Colony Slum? 

  This is a serious issue in terms of whether we are spending enough money on capital improvements.  Some want to spend as little as possible, others want to keep the place up. 

Jack"

So, let's hear some comments on refurbishing.  Be a nice change from the recent mud slide of personal attacks...................

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.