The homes in this neighborhood are fairly average single-family homes, ~$400k, roughly the median home price in the US now. There's no shared roof or walls that would be the HOAs responsibility. There's no community pool. Does not appear to be gated. Only expense as far as I can tell is the periodically repaving street, salting, perhaps some gardening -- $2500/mo, even $1250/mo is not supported by those expenses.
Who is the developer? What is their financial situation? Did they take on debt to finance development when rates were near 0% when this development was built ~2020, now that debt has come due but rates are > 5%, and they cannot pay, so they figure they can up the HOA to drop the property prices, evict the homeowners, then drop the HOA again and resell the houses for a profit to shore up their balance sheet?
https://www.terravistarealty.com/search/NC/Sherrills-Ford/45...
The homes in this neighborhood are fairly average single-family homes, ~$400k, roughly the median home price in the US now. There's no shared roof or walls that would be the HOAs responsibility. There's no community pool. Does not appear to be gated. Only expense as far as I can tell is the periodically repaving street, salting, perhaps some gardening -- $2500/mo, even $1250/mo is not supported by those expenses.
Who is the developer? What is their financial situation? Did they take on debt to finance development when rates were near 0% when this development was built ~2020, now that debt has come due but rates are > 5%, and they cannot pay, so they figure they can up the HOA to drop the property prices, evict the homeowners, then drop the HOA again and resell the houses for a profit to shore up their balance sheet?