COMMENT OF THE DAY: AN UPDATE FOR POTENTIAL CONDO INVESTORS AT PINE VILLAGE NORTH “the HOA has financial and legal problems. it’s operating month-2-month; no reserves. even though our assessments are supposed to cover exterior repairs of our units, you may never get your units repaired, unless you do it yourself. many of the units have serious plumbing problems. if the HOA is dissolved, PV may become a free-for-all; it’s almost that now. if you’re willing to risk all of that, then go ahead and buy, otherwise, don’t.” [Marina Sugg, commenting on Pine Village North Open House Welcome] Photo of Pine Village North: HAR
What happens when an investor who owns 200 out of 500 units in a north Houston condo complex defaults on his loan, leaving many of his properties vacant? Reporter Allison Triarsi visits Pine Village North, just south of Hamill Rd.,
west east of the Eastex Fwy.:
“It’s just an open house for gang members to come. Anybody can come,” said homeowner Ann Loyd.
Walk inside any one of the open units and you could find anything from gang graffiti and dead roaches, to the bones of animals.
“I don’t know if what I’m standing in [is] some kind of mice droppings or rat droppings,” said Loyd, while escorting 11 News through a vacant unit.
In addition to debris, there were pink pills on a counter, and clothing and blankets on the floor where people have either left them behind or kept them there in case they needed a free place to sleep.