Episode Transcript
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Speaker 1 (00:00):
Height thirty four thirteen ten w I b A and
ask the experts. Brought you by Rockrealty Online, Rock Wisconsin
dot com. That's Rock r O c K Wisconsin dot com.
Great website. As a matter of fact, I'm on Rock
Wisconsin dot com right now, and so should you if
you haven't checked it out before, Today is the day
again that website, Rock Wisconsin dot com, r O c
(00:21):
K Wisconsin dot com. All one word Joining us this
morning from Rockrealty, the one and only Matt Heyman. Are
there other my Matt Heyman's out there? Have you met
another Matt Heyman?
Speaker 2 (00:31):
You know?
Speaker 3 (00:31):
I I've googled it.
Speaker 2 (00:32):
Yeah, there's not a lot of them with two ends.
Speaker 3 (00:35):
Oh yeah, that's yeah, I think I found one.
Speaker 2 (00:37):
Maybe.
Speaker 1 (00:38):
What's your middle name? If I may inquire?
Speaker 2 (00:40):
That's Wayne?
Speaker 3 (00:40):
Is it really? Yeah?
Speaker 2 (00:41):
Like John Wayne?
Speaker 1 (00:42):
Oh you should go by Wayne. You look kind of
like a Wayne. Yeah, it's a strong name. No, that's
a that's a fan.
Speaker 3 (00:48):
I like that.
Speaker 1 (00:49):
Oh, start calling start Matt Wayne.
Speaker 3 (00:52):
Is matt Matthew Wayne? Matthew Wayne? Is that with your mice?
Call you when you got in trouble too?
Speaker 1 (00:56):
No, get it here, We've got We've got some fun
stuff to talk about this week. Fascinating topic homeowners associations,
which we've never covered, and uh, I've never been part
of one, but I have always been fascinated by him.
I know some people absolutely, it's like they love them.
(01:16):
They like that, and I get why. And then there's
other people saying it's not my thing. And the cool
thing about Homewer's Association is if you want one, they're
out there. If you don't want to be part of one,
find a great agent. They'll find you one without ones.
Speaker 3 (01:27):
Yeah, it's a little it's.
Speaker 2 (01:28):
A little bit of a polarizing topic.
Speaker 1 (01:29):
Yeah, so it should be a good discussion, good conversation.
But before we get to this week's discussion on homeowners associations, Uh,
we've got a really really cool featured listing this week,
and uh the listing agent TJ. Butler, And I don't
know is he Is he a newer guy at Rock Realty.
Speaker 3 (01:45):
I don't know.
Speaker 1 (01:45):
It's a few years, okay, And it's funny for folks
that don't know when Matt says a few years that
is a newer guy.
Speaker 3 (01:53):
People have been there a decade or more.
Speaker 1 (01:56):
Yeah, so, uh, this is a really great opportunity right
here in Addison, a very very nice, nice condo. Let's
talk about this house at one forty one Metro Terrace
here in Madison.
Speaker 2 (02:08):
Yeah, I think you know. The main important part here's
it's a first floor condo.
Speaker 3 (02:12):
Right. A lot of people like that.
Speaker 2 (02:13):
The ability to just kind of you know, have that
first floor and not go up to many steps, easy
easy access, you don't have to wait for any sort
of elevator, right, Yeah, but you owns. The second thing
is the price. I mean, you know, it's one of
the more affordable things to get into now. And if
you can get into a condo, and this one's listed
at two hundred and sixty thousand dollars.
Speaker 3 (02:31):
Wow, that is amazing.
Speaker 1 (02:32):
And it in Madison, in the city at City of Madison,
and it's a it's a beautiful building and the interior
and the exterior grade And I love this. And I
don't know what the term is, but it reminds me
kind of like like the city. Look where you've got
the kind of even though you're on the first floor,
you still have a nice little staircase and we'll walk
up to get into your front door.
Speaker 3 (02:51):
It's got a.
Speaker 1 (02:51):
Very very cool feel to the to the property. And
this place is definitely great as well. Two bedroom bath
walk in closets. I mean this a newer property as well,
isn't it.
Speaker 3 (03:06):
Yeah?
Speaker 2 (03:06):
I mean that looks like the association or the condo
units were built in two thousand and six. You know.
Some of the nice features also is that it you know,
it gives you the ability to rent out a clubhouse
and they also have an exercise room in there.
Speaker 1 (03:18):
Oh man, who needs a gym membership when you've got
an exercise here.
Speaker 2 (03:21):
There's people out there that actually exercise, so that's a
good ideal for those people.
Speaker 3 (03:25):
Yeah.
Speaker 1 (03:26):
I have a couple of gym memberships and they work
perfect for scraping the frost off my window and not much.
Speaker 3 (03:32):
On those cold mornings.
Speaker 1 (03:33):
If you're interested in checking out this fantastic condo unit again,
it's right at one forty one Metro Terrace here in Madison.
And I gotta just pick a phone. Give TJ a
call this morning.
Speaker 3 (03:42):
TJ.
Speaker 1 (03:42):
Butler his telephone number eight one five two nine one
thirty six thirty seven. That's eight one five nine thirty
six thirty seven. We'll talk a little bit more about this,
about this condo a little bit later in the program,
and again if you want to see this place or
other places always had on over to rock Wisconsin dot com.
It's our o c K Wisconsin dot com. So does
(04:03):
that condo was obviously it's got it's got as part
of your as part of your your what's the term dues?
Of course you've got you've got these benefits. Is that
count as a homeowners association? Are we talking about something?
Speaker 2 (04:16):
So, yeah, there would be a condo association fee for
that as well, you know, and part of the benefits
of living in a condo is you know, not doing
your lawn and a shovel snow or more importantly, and
you know, it covers that as well as you know,
things like the clubhouse and you know taking you know,
we'll go over the details, but you know, taking care
of other things related to the condo unit.
Speaker 3 (04:35):
Oh, that's fantastic. And that's also great.
Speaker 1 (04:37):
As we talked about two bedroom to bath perfect, you
think two of folks that are maybe downsizing kiddo's are
off started their own they've launched their we've got families
and other things and just a great space for you.
Speaker 3 (04:48):
So check that out.
Speaker 1 (04:49):
And so as we talked this morning about homeowner association
what exactly kind of just broadly, what are they?
Speaker 2 (04:55):
Yeah, yeah, and I wanted to differentiate between homeowners associate
and covenants and restrictions. Yes, sometimes that's kind of confused, right,
So any sort of subdivision can have covenants and restrictions,
whether that's like a single family homes or condos, and uh,
those are something that's you know, kind of put you know,
(05:17):
on the deed related to the deed at the county.
So you can have covenants restrictions on whether or not
you can have fences, covenant restrictions on whether or not
you have sheds. Homeowners association, however, is you know, a
a group of owners that banned together and uh, you know,
(05:38):
make sure to enforce you know, rules and regulations and
and take care of that community. Whether it's a residential
single family home homeowners association subdivision or it's a.
Speaker 1 (05:49):
Condo, kind of like an elected body for the for
the private properties of the of the people in that
in that area.
Speaker 3 (05:56):
Right, perfect description.
Speaker 1 (05:57):
Interesting, So when when we think of that about about that,
but it is it is especially I think with a
lot of newer developments, maybe a little a little more upscale.
This seems to be a pretty common common factor in those,
isn't it.
Speaker 3 (06:10):
Yeah, yeah, I mean.
Speaker 2 (06:13):
The whole goal really of a homeowners association is to
maintain a certain level, a certain level of quality, a
certain level of amenities. In some cases, right, there's some
associations that have have pools, right, or water parks even right.
I think we've got that down in Bergamount and such, right, So,
I mean there's there's different associations and depending on the
(06:35):
amenities will affect your monthly price, and it will also
affect you know, what things you can enjoy from that association.
Speaker 1 (06:43):
Do we see people looking I mean you mentioned you know,
there's obviously you mentioned Bergamont up the road here, and
you know some of the great great things that come
along with with home ownership there that's got to be
for for for people a really desirable you know, I
think two of you know you've got like Kiddo's, you're
looking for a great communit unity, a great neighborhood, a
place that not only has parks, but also has water parks.
(07:06):
I mean, those type of things got to be a
great selling point. And then the ability to have input
in the decisions being made being part of that, that
association's got to be greatly beneficial as well to the
property owners.
Speaker 2 (07:16):
Oh absolutely, and you know it can it can maintain
a certain level of quality and or expectation if you will.
You know, to know that you're never going to have someone,
you know, keeping their RV in the in the driveway.
They're nineteen seventy four rusted.
Speaker 3 (07:32):
Out RV, right, I mean, so there's advantages to that.
Speaker 2 (07:36):
You know.
Speaker 3 (07:37):
The fees are what you.
Speaker 2 (07:38):
Know, most people worry about, right, and the home owner's
association fees can really vary. So you know, I've seen
things as simple as like fifty dollars a year, right,
and that's just like, hey, we're going to take care
of this peer for everybody and maintain the different spots
on the pier for your boats, right to fifteen hundred,
two thousand dollars a month, I mean, depending on and
(08:00):
what sort of amenities they have some of these some
of these have indoor water parks that you're paying for, right,
so you know, up in the dells, right. So it
all depends on, you know, what sort of level expectation
when amenities come with it.
Speaker 1 (08:12):
With and I think of specifically condos but I know
some developments as well. With homewres associations, they also get
involved with even things like like some of the siding
and some of the other things as well. Am I
am I thinking of that, writer, am I am I
off based on that?
Speaker 2 (08:25):
Yeah, So in general, so if we're talking about like
a condo association, you can have your you know, condo
and or apartment insurance and that typically covers drywall in right,
the interior components of the house. You know, if you
have any sort of internal flooding maybe or you've gotten
you know, damage or theft or something inside that that's
(08:49):
covered by that insurance. And then the entire building though,
will have an insurance policy and then that will cover
the exterior typically sometimes or sometimes not, it'll cover the windows,
usually it covers the roof, right, And you know, it's
it's those policies that we've actually seen a lot of
you know, occurrences lately with all the with all the hail.
(09:10):
Oh sure, we're seeing a lot of different special assessments
and stuff, and we can talk about that, but you know,
all of a sudden, these kind of associations are like, well,
now we have to get a new roof yeah, And
a roof on a large condo building is not cheap.
Speaker 3 (09:24):
No, they're not. And that's uh.
Speaker 1 (09:26):
That's one of those things too, is as you work
with your agent and understand the stuff. The great thing
about working with a great agent they can help you
and guide you and help you make those educated and
informed decisions. Is a homeowners association right for you? Is
that something that they I think too of of folks
with whether they're very active, busy lifestyles or maybe folks
that may be a little older and the prospect of
(09:48):
maybe doing some of these things on their own is
not necessarily in the cards. A homeowners association maybe something
perfect for you. The other area, too is values and
valuations and and homeowers associations do have an impact on
property values quite a bit, don't they.
Speaker 2 (10:05):
Yeah, they do, and you know a lot of it
kind of depends on the fees and what's what all
is included, but that does have an impact, you know.
So when you're trying to compare apples to apples, some
people are looking for the lowest kind of condo feed
that they can find. Other others are like, well, I
want a kind of that has an exercise room. I
want to be able to enjoy the clubhouse and rent
(10:26):
that space out for birthday parties and such. So it
all depends on the buyer themselves, but it does affect
the price of the condo depending on how high or
low the fee is.
Speaker 1 (10:34):
I jumped over this question, but it's important the Homer association.
Who is the association? Who's it made of? How do
how does that? How does that process work?
Speaker 2 (10:42):
Yeah, it's all of the local homeowners, right, and there's
a board involved typically and different levels to that board.
Some people are in charge of the money, some some
people are in charge of the maintenance.
Speaker 3 (10:56):
Right.
Speaker 2 (10:56):
And you know you can actually get elected to the
board and join join the board and contributor as well.
Speaker 1 (11:03):
Oh, very very cool stuff to talked this morning with
that mid Matt Heatman, owner of Rock Realty Online Rock
Wisconsin dot com. That's our Ock Wisconsin dot com. Great
day to check out properties there again, even if you're
not looking to buy your list, it's really good. I
always have fun just checking out things going on at
rock Wisconsin dot com seeing what's out there. One of
the great properties our feature property this week right here
(11:25):
in Madison at one forty one metro Tears You can
learn more again online at rock Wisconsin dot com. There
are obviously some benefits too, as we've touched on some
of those. And you think about marketability of a home
having a homeowners association, I even think for something as
simple as as showings is probably great. But there's also
great for a lot of folks. It's a very desirable
(11:47):
feature to a property.
Speaker 3 (11:49):
Isn't it.
Speaker 2 (11:49):
Yeah, I mean it depends on each association. Sometimes it
involves like gated entries and some security patrols, right and
guessing the fees on those that are going to be
a little higher, right assumption. But it also you know,
also offers a little certain level of safety in those
those those cases, right, you know, professional management of the
(12:10):
association that kind of reduces the burden for homeowners to
you know, do maintenance administrative tasks. You've got someone else,
you know, making sure that the lawns being taken care of,
making sure that that underground parking garage door gets fixed, right,
and uh, you know, take those headaches off of homeowner.
Speaker 1 (12:29):
Can they help with remediating disputes too, obviously, you know
they always wants the old line about fences and great neighbors.
I'll speak for myself, love all my neighbors. But there
are some times you're kind of looking at going what's
going on over there? And I sometimes see him looking
back at me, going on is he doing? Sometimes there
can be discussions or disputes or or just concerns between neighbors.
(12:50):
Can this kind of help, having this this home association
maybe help remedy some of those some of those concerns,
or some of those disagreements or just kind of different
different perspectives.
Speaker 2 (13:01):
Yeah, I mean they're going to be the final say
if you will, right, so you can you can throw
it their way and you know, see how they interpret
the rules and whether or not that particular party is
following the rules, and it'll kind of take it out
of your hands. So they can be a bit of
a mitigator.
Speaker 1 (13:15):
Can I live in a place that's got a homework
association and opt out? Or is that something that if
you're if you're going to live in a particular neighborhood
or a particular building, this is this is part of
the deal.
Speaker 2 (13:25):
Yeah, it's typically part of the deal. You know, it's
it's something that you're made aware of and you are
given time to review the documents, look on all the rules.
You know, you actually have a little bit of time
even after offer acceptance to kind of make a final decision.
So it is that important and it's all part of
the offer documents when you have a homeowners association involved
(13:45):
that you can take a look and make sure that
you comply.
Speaker 1 (13:49):
Do you do you hear from folks that may have
like an attorney kind of not that again, not that
we're talking about something that's over litigious, but just curious
to kind of I know sometimes contracts and those type
of things can get a little for a LAFE person
a little thick. Do you ever hear from folks are
like I we just want to have our an attorney
just kind of read through, so we also get a
perspective on how to handle it. ORF that's something your
agent can generally really guide you through.
Speaker 2 (14:11):
Well, I mean it's always advised when you're dealing with
legal documents, have an attorney take a peek at it.
You know, we can do our best and you know
what we what we see in there, but we can't
advise legally regardless, Right, I'm not one of our rules. Right.
We can explain what we think each section means, but
you know a legal attorney would have to actually give
(14:32):
you the final say.
Speaker 1 (14:33):
Fascinating stuff this morning as we're talking Matt Heyman of
Rock Realty talking this week about homeowners associations, some of
the great benefits, some of the challenges and some of
the areas that they can help overcome, and some of
the reasons why they're so desirable by folks for folks
in their homes. We're talking this morning about those. Don't forget.
We'll get in to our featured listing as well. In
the meantime, you've been to the website, I hope you
(14:54):
get on over there Rock Wisconsin dot com. That's our
o c K Wisconsin dot com. It's where you'll find
a bunch of great lists for Rock Realty. Else get
to know some of the agents as well. Again, that
all available to you at Rockwisconsin dot com. Continue your
conversation with Matt, we'll talk a little bit more about
some homeowners associations, some of the benefits and some of
the things that you need to know about. We will
do that next as ask the experts with Rock Realty
(15:15):
continues right here on thirteen ten. Dou wuib I eight
fifty two thirteen ten Wi b A and ask the
experts with Rockrealty hanging out in studio with Matt Heyman
of Rockrealty.
Speaker 3 (15:26):
Don't forget. You can learn more on their website Rock
Wisconsin dot com. That's r O.
Speaker 1 (15:30):
C K Wisconsin dot com. Great website and resource again
that's rock Wisconsin dot com. Talk about home owners associations,
some of the benefits and some of the things to
know about about being part of one. And you had
mentioned special assessments and I don't know what that is, Matt.
What is a special assessment? How is that important to
(15:50):
this conversation?
Speaker 2 (15:51):
Well, I mean it's important to know that you know,
there is the future risk of a special assessment that happen, right.
You know, normally on your on a monthly basis, you've
got a portion or fee going to just your your
long care and the snow removal and some of it
is you know, being set away for potential issues in
the future. But if something arises that wasn't expected that
(16:15):
maybe it was a weather event, let's say hail, right,
then a special assessment could be levied in like an
emergency like that or maybe even frozen pipes. And if
a major project needs to be undertaken that the normal
HOA fees aren't covering. At that point, they're going to
get some some quotes and figure out what it's going
(16:36):
to cost and figure out when that's divided amongst all
these HOA members. What does that mean? Right? So it
can be pretty hefty.
Speaker 3 (16:43):
Are there insurance products to help?
Speaker 1 (16:45):
Do you know about for for folks that may you know,
let's say a part of an association and you know,
I want to just kind of ensure myself against something
like that.
Speaker 3 (16:52):
Is there is there? Is that?
Speaker 1 (16:53):
Or is that something that's just kind of part of
the deal.
Speaker 3 (16:56):
Yeah, that's a good question.
Speaker 2 (16:57):
I think it Maybe it's something that you could add
as a writer on your apartment assurance, but it's definitely
something I have. I don't know that I'd like to
find that.
Speaker 1 (17:05):
Out because I think of, like, you know, with just
general homeownership, I know that there's obviously certain products out
there that you could that you could add on to
cover cover certain things that may not you know, I think,
I like flood insurance, are the things that may not
necessarily be covered by your fires?
Speaker 2 (17:20):
Yes, I'll find out as.
Speaker 1 (17:23):
Charles, Oh, fantastic, Yeah, it's it's and it's such a
cool area. As we talk about homeowners associations and all that,
you know, there's a lot of really really good benefits
of it. And we you know, we started this week's
conversation with this week's featured listing as well about you know,
a condo, and I think two of like some of
the some of the things that sometimes hold people back
from buying is things like maintenance and things like you know,
(17:47):
mowing lawns and snow blowing. And you know, I think
for everybody that first time you you mow the lawn,
it's a whole lot of fun. When it's your house
the three hundred and four hundred thousandth time and it's like,
this is no fun anymore. Some of the great things
about about you know, whether it's condo living or those
type of things, is having those having those amenities covered
and having that stuff take care of. Let's talk about
(18:08):
speaking of having that stuff taking care of this week's
feature listing, of course, TJ. Butler is our is our
listing agent on this and it's a beautiful house. And
again we talk about about the conveniences of being part
of a part of a condo and part of a
condo association. The property as well is great and I
love I saw the underground parking, uh and storage. You
(18:30):
mentioned the word hail, I as somebody who recently had
to have two vehicles repaired after hail damage. Having underground
parking is is something that that you don't want to overlook,
is it?
Speaker 3 (18:40):
Yeah? Exactly.
Speaker 2 (18:41):
I mean whether it's winter or summer, you could have
some weather events there and having your your car covered
is a great option. Yeah. It's similar to going to
the airport and Dean County. You're hoping you don't have
to be on that top floor just in case. In
this case you're always always covered, so and and no association.
It's going to cover things like any issues with the
(19:02):
garage door, making sure everything's working for that. So having
that underground parking is a big deal. And you know
this particular condo. I mean, another thing that I like
about it is the convenience to being close to the
east Side. Yeah, you've got close to the mall, maybe
close to some prayer if you need to go there,
and quick quick trip anywhere just off I ninety, so.
Speaker 3 (19:25):
Literally a quick trip anywhere.
Speaker 1 (19:28):
This property again right at one forty one metro terraces
even at one oh five. Of course, as you mentioned,
of course with that one, that means it's it's a
ground level. The other thing too, I really love about
and this place is no exception. You talk about spacious,
open concept, they also it's it's they've gotten so good
with these condos.
Speaker 3 (19:48):
Of like they really have like a very high.
Speaker 1 (19:52):
End and I don't know if I'm guessing that's what
the market is is demanding really a high end quality features,
high end feel to these to these condos.
Speaker 3 (20:01):
And this place is no exception.
Speaker 1 (20:02):
Is it's no slouch when it comes to you talk
about some of the great amenities and some of the design.
It is really a fantastic, fantastic space. Do we see
a lot in the condo condo space now? Is is
buyers are expecting it's no longer like lamin at countertops
and that like saying, you know, we want quartz, we
want you know, we want some of the higher end finishes.
Speaker 3 (20:22):
Are we seeing that a lot in condos? I'd say so.
Speaker 2 (20:25):
I mean with condos, you're dealing with a smaller square
footage or unit, so you can kind of finish those off,
you know, at not a huge additional costs. You know,
you're talking one small island or you know, a couple
of vanities versus like an entire house, and so you know,
as a result, you're getting a lot of you're getting
a lot of luxury vinyl plank, you're getting that quartz,
(20:47):
like you said, the under mount sinks, things like that.
So it's pretty common.
Speaker 1 (20:50):
It's very very cool stuff. Great day to give TJ
a call TJ Butler, he is a listing agent on
this property.
Speaker 3 (20:56):
Again, it's right at.
Speaker 1 (20:56):
One forty one Metro Terrace, Unit one oh five. You
can get the deep tales at Rock Wisconsin dot com.
TJ's telling phone number eight one five two nine one
thirty six thirty seven. That's eight one five two nine
one thirty six thirty seven online Rock Wisconsin dot com.
That's r O c K Wisconsin dot com. I mentioned
too about TJ and being a quote unquote newer guy.
(21:19):
He's been there a couple of years. One of the
cool websites you also have is Wisconsin buyeragent dot com.
What a great resource that is for folks looking to
to pair themselves with a really good agent at Rock Realty.
Nice little profiles and bios and then You can, of course, schedule,
which I think is really cool, schedule a conversation with
the agent before you commit.
Speaker 3 (21:38):
Yeah.
Speaker 2 (21:39):
Yeah, I think it's important to get matched up with
the right agent.
Speaker 3 (21:41):
M hm.
Speaker 2 (21:42):
So I thought, Hey, we've got thirty five agents to
choose from. Yeah, let's let's let the home buyers shop.
Speaker 3 (21:48):
Yeah, let's let them shop.
Speaker 2 (21:50):
For an agent they think is a good fit. You
get to learn a little bit more about each agent
and then make the decision to maybe interview a couple
of them and choose one.
Speaker 1 (21:57):
It's a really really cool website. Again, that's Wisconsin Buyeragent
dot com. Wisconsin Buyer Agent dot com. Matt, it's always
great talking with you. You enjoyed this fantastic day. We'll do
it all again real soon.
Speaker 3 (22:08):
Sounds good.
Speaker 1 (22:08):
We had a thousand dollar winner yesterday. Let's see if
we can make it two days in a row. Vicim
kinda has your chance next right here, I'm thirteen ten
wuib I
Height thirty four thirteen ten w I b A and
ask the experts. Brought you by Rockrealty Online, Rock Wisconsin
dot com. That's Rock r O c K Wisconsin dot com.
Great website. As a matter of fact, I'm on Rock
Wisconsin dot com right now, and so should you if
you haven't checked it out before, Today is the day
again that website, Rock Wisconsin dot com, r O c
(00:21):
K Wisconsin dot com. All one word Joining us this
morning from Rockrealty, the one and only Matt Heyman. Are
there other my Matt Heyman's out there? Have you met
another Matt Heyman?
Speaker 2 (00:31):
You know?
Speaker 3 (00:31):
I I've googled it.
Speaker 2 (00:32):
Yeah, there's not a lot of them with two ends.
Speaker 3 (00:35):
Oh yeah, that's yeah, I think I found one.
Speaker 2 (00:37):
Maybe.
Speaker 1 (00:38):
What's your middle name? If I may inquire?
Speaker 2 (00:40):
That's Wayne?
Speaker 3 (00:40):
Is it really? Yeah?
Speaker 2 (00:41):
Like John Wayne?
Speaker 1 (00:42):
Oh you should go by Wayne. You look kind of
like a Wayne. Yeah, it's a strong name. No, that's
a that's a fan.
Speaker 3 (00:48):
I like that.
Speaker 1 (00:49):
Oh, start calling start Matt Wayne.
Speaker 3 (00:52):
Is matt Matthew Wayne? Matthew Wayne? Is that with your mice?
Call you when you got in trouble too?
Speaker 1 (00:56):
No, get it here, We've got We've got some fun
stuff to talk about this week. Fascinating topic homeowners associations,
which we've never covered, and uh, I've never been part
of one, but I have always been fascinated by him.
I know some people absolutely, it's like they love them.
(01:16):
They like that, and I get why. And then there's
other people saying it's not my thing. And the cool
thing about Homewer's Association is if you want one, they're
out there. If you don't want to be part of one,
find a great agent. They'll find you one without ones.
Speaker 3 (01:27):
Yeah, it's a little it's.
Speaker 2 (01:28):
A little bit of a polarizing topic.
Speaker 1 (01:29):
Yeah, so it should be a good discussion, good conversation.
But before we get to this week's discussion on homeowners associations, Uh,
we've got a really really cool featured listing this week,
and uh the listing agent TJ. Butler, And I don't
know is he Is he a newer guy at Rock Realty.
Speaker 3 (01:45):
I don't know.
Speaker 1 (01:45):
It's a few years, okay, And it's funny for folks
that don't know when Matt says a few years that
is a newer guy.
Speaker 3 (01:53):
People have been there a decade or more.
Speaker 1 (01:56):
Yeah, so, uh, this is a really great opportunity right
here in Addison, a very very nice, nice condo. Let's
talk about this house at one forty one Metro Terrace
here in Madison.
Speaker 2 (02:08):
Yeah, I think you know. The main important part here's
it's a first floor condo.
Speaker 3 (02:12):
Right. A lot of people like that.
Speaker 2 (02:13):
The ability to just kind of you know, have that
first floor and not go up to many steps, easy
easy access, you don't have to wait for any sort
of elevator, right, Yeah, but you owns. The second thing
is the price. I mean, you know, it's one of
the more affordable things to get into now. And if
you can get into a condo, and this one's listed
at two hundred and sixty thousand dollars.
Speaker 3 (02:31):
Wow, that is amazing.
Speaker 1 (02:32):
And it in Madison, in the city at City of Madison,
and it's a it's a beautiful building and the interior
and the exterior grade And I love this. And I
don't know what the term is, but it reminds me
kind of like like the city. Look where you've got
the kind of even though you're on the first floor,
you still have a nice little staircase and we'll walk
up to get into your front door.
Speaker 3 (02:51):
It's got a.
Speaker 1 (02:51):
Very very cool feel to the to the property. And
this place is definitely great as well. Two bedroom bath
walk in closets. I mean this a newer property as well,
isn't it.
Speaker 3 (03:06):
Yeah?
Speaker 2 (03:06):
I mean that looks like the association or the condo
units were built in two thousand and six. You know.
Some of the nice features also is that it you know,
it gives you the ability to rent out a clubhouse
and they also have an exercise room in there.
Speaker 1 (03:18):
Oh man, who needs a gym membership when you've got
an exercise here.
Speaker 2 (03:21):
There's people out there that actually exercise, so that's a
good ideal for those people.
Speaker 3 (03:25):
Yeah.
Speaker 1 (03:26):
I have a couple of gym memberships and they work
perfect for scraping the frost off my window and not much.
Speaker 3 (03:32):
On those cold mornings.
Speaker 1 (03:33):
If you're interested in checking out this fantastic condo unit again,
it's right at one forty one Metro Terrace here in Madison.
And I gotta just pick a phone. Give TJ a
call this morning.
Speaker 3 (03:42):
TJ.
Speaker 1 (03:42):
Butler his telephone number eight one five two nine one
thirty six thirty seven. That's eight one five nine thirty
six thirty seven. We'll talk a little bit more about this,
about this condo a little bit later in the program,
and again if you want to see this place or
other places always had on over to rock Wisconsin dot com.
It's our o c K Wisconsin dot com. So does
(04:03):
that condo was obviously it's got it's got as part
of your as part of your your what's the term dues?
Of course you've got you've got these benefits. Is that
count as a homeowners association? Are we talking about something?
Speaker 2 (04:16):
So, yeah, there would be a condo association fee for
that as well, you know, and part of the benefits
of living in a condo is you know, not doing
your lawn and a shovel snow or more importantly, and
you know, it covers that as well as you know,
things like the clubhouse and you know taking you know,
we'll go over the details, but you know, taking care
of other things related to the condo unit.
Speaker 3 (04:35):
Oh, that's fantastic. And that's also great.
Speaker 1 (04:37):
As we talked about two bedroom to bath perfect, you
think two of folks that are maybe downsizing kiddo's are
off started their own they've launched their we've got families
and other things and just a great space for you.
Speaker 3 (04:48):
So check that out.
Speaker 1 (04:49):
And so as we talked this morning about homeowner association
what exactly kind of just broadly, what are they?
Speaker 2 (04:55):
Yeah, yeah, and I wanted to differentiate between homeowners associate
and covenants and restrictions. Yes, sometimes that's kind of confused, right,
So any sort of subdivision can have covenants and restrictions,
whether that's like a single family homes or condos, and uh,
those are something that's you know, kind of put you know,
(05:17):
on the deed related to the deed at the county.
So you can have covenants restrictions on whether or not
you can have fences, covenant restrictions on whether or not
you have sheds. Homeowners association, however, is you know, a
a group of owners that banned together and uh, you know,
(05:38):
make sure to enforce you know, rules and regulations and
and take care of that community. Whether it's a residential
single family home homeowners association subdivision or it's a.
Speaker 1 (05:49):
Condo, kind of like an elected body for the for
the private properties of the of the people in that
in that area.
Speaker 3 (05:56):
Right, perfect description.
Speaker 1 (05:57):
Interesting, So when when we think of that about about that,
but it is it is especially I think with a
lot of newer developments, maybe a little a little more upscale.
This seems to be a pretty common common factor in those,
isn't it.
Speaker 3 (06:10):
Yeah, yeah, I mean.
Speaker 2 (06:13):
The whole goal really of a homeowners association is to
maintain a certain level, a certain level of quality, a
certain level of amenities. In some cases, right, there's some
associations that have have pools, right, or water parks even right.
I think we've got that down in Bergamount and such, right, So,
I mean there's there's different associations and depending on the
(06:35):
amenities will affect your monthly price, and it will also
affect you know, what things you can enjoy from that association.
Speaker 1 (06:43):
Do we see people looking I mean you mentioned you know,
there's obviously you mentioned Bergamont up the road here, and
you know some of the great great things that come
along with with home ownership there that's got to be
for for for people a really desirable you know, I
think two of you know you've got like Kiddo's, you're
looking for a great communit unity, a great neighborhood, a
place that not only has parks, but also has water parks.
(07:06):
I mean, those type of things got to be a
great selling point. And then the ability to have input
in the decisions being made being part of that, that
association's got to be greatly beneficial as well to the
property owners.
Speaker 2 (07:16):
Oh absolutely, and you know it can it can maintain
a certain level of quality and or expectation if you will.
You know, to know that you're never going to have someone,
you know, keeping their RV in the in the driveway.
They're nineteen seventy four rusted.
Speaker 3 (07:32):
Out RV, right, I mean, so there's advantages to that.
Speaker 2 (07:36):
You know.
Speaker 3 (07:37):
The fees are what you.
Speaker 2 (07:38):
Know, most people worry about, right, and the home owner's
association fees can really vary. So you know, I've seen
things as simple as like fifty dollars a year, right,
and that's just like, hey, we're going to take care
of this peer for everybody and maintain the different spots
on the pier for your boats, right to fifteen hundred,
two thousand dollars a month, I mean, depending on and
(08:00):
what sort of amenities they have some of these some
of these have indoor water parks that you're paying for, right,
so you know, up in the dells, right. So it
all depends on, you know, what sort of level expectation
when amenities come with it.
Speaker 1 (08:12):
With and I think of specifically condos but I know
some developments as well. With homewres associations, they also get
involved with even things like like some of the siding
and some of the other things as well. Am I
am I thinking of that, writer, am I am I
off based on that?
Speaker 2 (08:25):
Yeah, So in general, so if we're talking about like
a condo association, you can have your you know, condo
and or apartment insurance and that typically covers drywall in right,
the interior components of the house. You know, if you
have any sort of internal flooding maybe or you've gotten
you know, damage or theft or something inside that that's
(08:49):
covered by that insurance. And then the entire building though,
will have an insurance policy and then that will cover
the exterior typically sometimes or sometimes not, it'll cover the windows,
usually it covers the roof, right, And you know, it's
it's those policies that we've actually seen a lot of
you know, occurrences lately with all the with all the hail.
(09:10):
Oh sure, we're seeing a lot of different special assessments
and stuff, and we can talk about that, but you know,
all of a sudden, these kind of associations are like, well,
now we have to get a new roof yeah, And
a roof on a large condo building is not cheap.
Speaker 3 (09:24):
No, they're not. And that's uh.
Speaker 1 (09:26):
That's one of those things too, is as you work
with your agent and understand the stuff. The great thing
about working with a great agent they can help you
and guide you and help you make those educated and
informed decisions. Is a homeowners association right for you? Is
that something that they I think too of of folks
with whether they're very active, busy lifestyles or maybe folks
that may be a little older and the prospect of
(09:48):
maybe doing some of these things on their own is
not necessarily in the cards. A homeowners association maybe something
perfect for you. The other area, too is values and
valuations and and homeowers associations do have an impact on
property values quite a bit, don't they.
Speaker 2 (10:05):
Yeah, they do, and you know a lot of it
kind of depends on the fees and what's what all
is included, but that does have an impact, you know.
So when you're trying to compare apples to apples, some
people are looking for the lowest kind of condo feed
that they can find. Other others are like, well, I
want a kind of that has an exercise room. I
want to be able to enjoy the clubhouse and rent
(10:26):
that space out for birthday parties and such. So it
all depends on the buyer themselves, but it does affect
the price of the condo depending on how high or
low the fee is.
Speaker 1 (10:34):
I jumped over this question, but it's important the Homer association.
Who is the association? Who's it made of? How do
how does that? How does that process work?
Speaker 2 (10:42):
Yeah, it's all of the local homeowners, right, and there's
a board involved typically and different levels to that board.
Some people are in charge of the money, some some
people are in charge of the maintenance.
Speaker 3 (10:56):
Right.
Speaker 2 (10:56):
And you know you can actually get elected to the
board and join join the board and contributor as well.
Speaker 1 (11:03):
Oh, very very cool stuff to talked this morning with
that mid Matt Heatman, owner of Rock Realty Online Rock
Wisconsin dot com. That's our Ock Wisconsin dot com. Great
day to check out properties there again, even if you're
not looking to buy your list, it's really good. I
always have fun just checking out things going on at
rock Wisconsin dot com seeing what's out there. One of
the great properties our feature property this week right here
(11:25):
in Madison at one forty one metro Tears You can
learn more again online at rock Wisconsin dot com. There
are obviously some benefits too, as we've touched on some
of those. And you think about marketability of a home
having a homeowners association, I even think for something as
simple as as showings is probably great. But there's also
great for a lot of folks. It's a very desirable
(11:47):
feature to a property.
Speaker 3 (11:49):
Isn't it.
Speaker 2 (11:49):
Yeah, I mean it depends on each association. Sometimes it
involves like gated entries and some security patrols, right and
guessing the fees on those that are going to be
a little higher, right assumption. But it also you know,
also offers a little certain level of safety in those
those those cases, right, you know, professional management of the
(12:10):
association that kind of reduces the burden for homeowners to
you know, do maintenance administrative tasks. You've got someone else,
you know, making sure that the lawns being taken care of,
making sure that that underground parking garage door gets fixed, right,
and uh, you know, take those headaches off of homeowner.
Speaker 1 (12:29):
Can they help with remediating disputes too, obviously, you know
they always wants the old line about fences and great neighbors.
I'll speak for myself, love all my neighbors. But there
are some times you're kind of looking at going what's
going on over there? And I sometimes see him looking
back at me, going on is he doing? Sometimes there
can be discussions or disputes or or just concerns between neighbors.
(12:50):
Can this kind of help, having this this home association
maybe help remedy some of those some of those concerns,
or some of those disagreements or just kind of different
different perspectives.
Speaker 2 (13:01):
Yeah, I mean they're going to be the final say
if you will, right, so you can you can throw
it their way and you know, see how they interpret
the rules and whether or not that particular party is
following the rules, and it'll kind of take it out
of your hands. So they can be a bit of
a mitigator.
Speaker 1 (13:15):
Can I live in a place that's got a homework
association and opt out? Or is that something that if
you're if you're going to live in a particular neighborhood
or a particular building, this is this is part of
the deal.
Speaker 2 (13:25):
Yeah, it's typically part of the deal. You know, it's
it's something that you're made aware of and you are
given time to review the documents, look on all the rules.
You know, you actually have a little bit of time
even after offer acceptance to kind of make a final decision.
So it is that important and it's all part of
the offer documents when you have a homeowners association involved
(13:45):
that you can take a look and make sure that
you comply.
Speaker 1 (13:49):
Do you do you hear from folks that may have
like an attorney kind of not that again, not that
we're talking about something that's over litigious, but just curious
to kind of I know sometimes contracts and those type
of things can get a little for a LAFE person
a little thick. Do you ever hear from folks are
like I we just want to have our an attorney
just kind of read through, so we also get a
perspective on how to handle it. ORF that's something your
agent can generally really guide you through.
Speaker 2 (14:11):
Well, I mean it's always advised when you're dealing with
legal documents, have an attorney take a peek at it.
You know, we can do our best and you know
what we what we see in there, but we can't
advise legally regardless, Right, I'm not one of our rules. Right.
We can explain what we think each section means, but
you know a legal attorney would have to actually give
(14:32):
you the final say.
Speaker 1 (14:33):
Fascinating stuff this morning as we're talking Matt Heyman of
Rock Realty talking this week about homeowners associations, some of
the great benefits, some of the challenges and some of
the areas that they can help overcome, and some of
the reasons why they're so desirable by folks for folks
in their homes. We're talking this morning about those. Don't forget.
We'll get in to our featured listing as well. In
the meantime, you've been to the website, I hope you
(14:54):
get on over there Rock Wisconsin dot com. That's our
o c K Wisconsin dot com. It's where you'll find
a bunch of great lists for Rock Realty. Else get
to know some of the agents as well. Again, that
all available to you at Rockwisconsin dot com. Continue your
conversation with Matt, we'll talk a little bit more about
some homeowners associations, some of the benefits and some of
the things that you need to know about. We will
do that next as ask the experts with Rock Realty
(15:15):
continues right here on thirteen ten. Dou wuib I eight
fifty two thirteen ten Wi b A and ask the
experts with Rockrealty hanging out in studio with Matt Heyman
of Rockrealty.
Speaker 3 (15:26):
Don't forget. You can learn more on their website Rock
Wisconsin dot com. That's r O.
Speaker 1 (15:30):
C K Wisconsin dot com. Great website and resource again
that's rock Wisconsin dot com. Talk about home owners associations,
some of the benefits and some of the things to
know about about being part of one. And you had
mentioned special assessments and I don't know what that is, Matt.
What is a special assessment? How is that important to
(15:50):
this conversation?
Speaker 2 (15:51):
Well, I mean it's important to know that you know,
there is the future risk of a special assessment that happen, right.
You know, normally on your on a monthly basis, you've
got a portion or fee going to just your your
long care and the snow removal and some of it
is you know, being set away for potential issues in
the future. But if something arises that wasn't expected that
(16:15):
maybe it was a weather event, let's say hail, right,
then a special assessment could be levied in like an
emergency like that or maybe even frozen pipes. And if
a major project needs to be undertaken that the normal
HOA fees aren't covering. At that point, they're going to
get some some quotes and figure out what it's going
(16:36):
to cost and figure out when that's divided amongst all
these HOA members. What does that mean? Right? So it
can be pretty hefty.
Speaker 3 (16:43):
Are there insurance products to help?
Speaker 1 (16:45):
Do you know about for for folks that may you know,
let's say a part of an association and you know,
I want to just kind of ensure myself against something
like that.
Speaker 3 (16:52):
Is there is there? Is that?
Speaker 1 (16:53):
Or is that something that's just kind of part of
the deal.
Speaker 3 (16:56):
Yeah, that's a good question.
Speaker 2 (16:57):
I think it Maybe it's something that you could add
as a writer on your apartment assurance, but it's definitely
something I have. I don't know that I'd like to
find that.
Speaker 1 (17:05):
Out because I think of, like, you know, with just
general homeownership, I know that there's obviously certain products out
there that you could that you could add on to
cover cover certain things that may not you know, I think,
I like flood insurance, are the things that may not
necessarily be covered by your fires?
Speaker 2 (17:20):
Yes, I'll find out as.
Speaker 1 (17:23):
Charles, Oh, fantastic, Yeah, it's it's and it's such a
cool area. As we talk about homeowners associations and all that,
you know, there's a lot of really really good benefits
of it. And we you know, we started this week's
conversation with this week's featured listing as well about you know,
a condo, and I think two of like some of
the some of the things that sometimes hold people back
from buying is things like maintenance and things like you know,
(17:47):
mowing lawns and snow blowing. And you know, I think
for everybody that first time you you mow the lawn,
it's a whole lot of fun. When it's your house
the three hundred and four hundred thousandth time and it's like,
this is no fun anymore. Some of the great things
about about you know, whether it's condo living or those
type of things, is having those having those amenities covered
and having that stuff take care of. Let's talk about
(18:08):
speaking of having that stuff taking care of this week's
feature listing, of course, TJ. Butler is our is our
listing agent on this and it's a beautiful house. And
again we talk about about the conveniences of being part
of a part of a condo and part of a
condo association. The property as well is great and I
love I saw the underground parking, uh and storage. You
(18:30):
mentioned the word hail, I as somebody who recently had
to have two vehicles repaired after hail damage. Having underground
parking is is something that that you don't want to overlook,
is it?
Speaker 3 (18:40):
Yeah? Exactly.
Speaker 2 (18:41):
I mean whether it's winter or summer, you could have
some weather events there and having your your car covered
is a great option. Yeah. It's similar to going to
the airport and Dean County. You're hoping you don't have
to be on that top floor just in case. In
this case you're always always covered, so and and no association.
It's going to cover things like any issues with the
(19:02):
garage door, making sure everything's working for that. So having
that underground parking is a big deal. And you know
this particular condo. I mean, another thing that I like
about it is the convenience to being close to the
east Side. Yeah, you've got close to the mall, maybe
close to some prayer if you need to go there,
and quick quick trip anywhere just off I ninety, so.
Speaker 3 (19:25):
Literally a quick trip anywhere.
Speaker 1 (19:28):
This property again right at one forty one metro terraces
even at one oh five. Of course, as you mentioned,
of course with that one, that means it's it's a
ground level. The other thing too, I really love about
and this place is no exception. You talk about spacious,
open concept, they also it's it's they've gotten so good
with these condos.
Speaker 3 (19:48):
Of like they really have like a very high.
Speaker 1 (19:52):
End and I don't know if I'm guessing that's what
the market is is demanding really a high end quality features,
high end feel to these to these condos.
Speaker 3 (20:01):
And this place is no exception.
Speaker 1 (20:02):
Is it's no slouch when it comes to you talk
about some of the great amenities and some of the design.
It is really a fantastic, fantastic space. Do we see
a lot in the condo condo space now? Is is
buyers are expecting it's no longer like lamin at countertops
and that like saying, you know, we want quartz, we
want you know, we want some of the higher end finishes.
Speaker 3 (20:22):
Are we seeing that a lot in condos? I'd say so.
Speaker 2 (20:25):
I mean with condos, you're dealing with a smaller square
footage or unit, so you can kind of finish those off,
you know, at not a huge additional costs. You know,
you're talking one small island or you know, a couple
of vanities versus like an entire house, and so you know,
as a result, you're getting a lot of you're getting
a lot of luxury vinyl plank, you're getting that quartz,
(20:47):
like you said, the under mount sinks, things like that.
So it's pretty common.
Speaker 1 (20:50):
It's very very cool stuff. Great day to give TJ
a call TJ Butler, he is a listing agent on
this property.
Speaker 3 (20:56):
Again, it's right at.
Speaker 1 (20:56):
One forty one Metro Terrace, Unit one oh five. You
can get the deep tales at Rock Wisconsin dot com.
TJ's telling phone number eight one five two nine one
thirty six thirty seven. That's eight one five two nine
one thirty six thirty seven online Rock Wisconsin dot com.
That's r O c K Wisconsin dot com. I mentioned
too about TJ and being a quote unquote newer guy.
(21:19):
He's been there a couple of years. One of the
cool websites you also have is Wisconsin buyeragent dot com.
What a great resource that is for folks looking to
to pair themselves with a really good agent at Rock Realty.
Nice little profiles and bios and then You can, of course, schedule,
which I think is really cool, schedule a conversation with
the agent before you commit.
Speaker 3 (21:38):
Yeah.
Speaker 2 (21:39):
Yeah, I think it's important to get matched up with
the right agent.
Speaker 3 (21:41):
M hm.
Speaker 2 (21:42):
So I thought, Hey, we've got thirty five agents to
choose from. Yeah, let's let's let the home buyers shop.
Speaker 3 (21:48):
Yeah, let's let them shop.
Speaker 2 (21:50):
For an agent they think is a good fit. You
get to learn a little bit more about each agent
and then make the decision to maybe interview a couple
of them and choose one.
Speaker 1 (21:57):
It's a really really cool website. Again, that's Wisconsin Buyeragent
dot com. Wisconsin Buyer Agent dot com. Matt, it's always
great talking with you. You enjoyed this fantastic day. We'll do
it all again real soon.
Speaker 3 (22:08):
Sounds good.
Speaker 1 (22:08):
We had a thousand dollar winner yesterday. Let's see if
we can make it two days in a row. Vicim
kinda has your chance next right here, I'm thirteen ten
wuib I
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