Your POA Dues’ Worth

There is just one reason we homeowners pay dues to the POA and that is to protect property values for all Diamondhead owners.  Managing the common facilities is simply part of this primary POA job, and if its decision making is not protecting property values, the POA is failing at its sole purpose for existing.

In that case, we homeowners are twice losers, forfeiting our money in squandered dues and surrendering part of the value of our property, our largest investment for many of us.

We have little access to the board’s decision-making processes.  Contrary to the transparency promised by so many board members while campaigning, we see only the end product when they vote publicly for or against a particular motion.  The only way of measuring their effectiveness, therefore, is by examining the outcome of their decisions — the status of our property values.

That requires comparing ours to others in the region.  Using the realtor.com website, DHNOL will begin providing readers with a monthly report, spanning 3-months at a time, on where our property values stand in relation to other communities within a 50 mile radius of

April Report

Regional Towns and Cities Ranked by Average Home Price*

 

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from realtor.com

 

*Average home prices for all communities are from realtor.com and include single family homes; townhouses, condos, and co-ops; mobile/manufactured homes; lots/land units; ranches, and multiple-family housing.  These are average list prices, not sale prices.

Compiled by Alliance for a Better Community

Note:  Some elected officials and realtors do not believe that these figures show an accurate picture.  They point out that the lower Diamondhead averages are caused by its greater percentage of land, studio condo, and mobile homes on the market.  They also claim that online averages are only estimates because Mississippi is a nondisclosure state where sale prices for homes do not appear in public records, and that bank appraisals are low because they do not want to lend at the present time.

These arguments are unsubstantiated.  On realtor.com you can find a break out of the numbers of land units, mobile/manufactured homes, and condos on the market in each community and Diamondhead’s percentages of these are lower, not higher, than in many others.  The website also makes it clear that the averages shown for all of these communities are averages of list prices which are obviously disclosed publicly, and not sold price averages which are not disclosed in Mississippi.  As for appraisals, the same banks serve most of these communities using the same appraisal methods wherever they are.

Diamondhead’s property values are simply not what they should be.