PLEASE NOTE: My strata blogs are for use on an as-needed basis. Some subject matter is disturbing, but it is not intended to be used in a malicious manner. I am seeking a reasonable level of accountability but would rather that it not be harmful to the parties named.

I would much rather delete all of my blogs and their contents than to have to live with the burdens created by the ongoing necessity of their existence.

Sunday, June 16, 2013

Property Values

Unjust enrichment from taking common property for the exclusive use and benefit of a minority is big business, and removing trees for extra decks and panoramic views is making 2-bedrooms sell for more than 3 bedrooms...


 Historical snapshot found on internet 
BC Assessments posted in January 2015

The February 8, 2017 edition of the Burnaby - Tri-Cities Real Estate Weekly says,
When it comes to must-haves in buying or renting a home, a recent survey of BC residents says that, after the price, there is one other thing more important than bedrooms, size or location - and that's private outdoor space.
To download the full Resonance report, go to resonanceco.com/reports/future-of-bc-housing  

A study completed by Laval University in 2000, found that landscaped patios added 12.4 percent to property value
and homes with poor landscape appeal had approximately 10 percent lower property value.

On February 25, 2017, after 12 years of continually asking the strata to extend Unit 409's exterior water pipes in accordance with the scope of work contracted and paid for during the 2005 building envelope repair project I noticed a bright new spotlight shining on the defect as shown below
which becomes even more of a mess when you turn on the water to fill a bucket and the water shoots straight out at you like an attack!
Substitute gadgets have created further annoyance and add VISUAL EMPHASIS that draws the eyes of visitors and potential PURCHASERS to the defect undermining the value of our home. 

The strata has subjected us to more than a decade of unique loss and frustration just to save a few hundred of dollars. Persistent refusal by members of the strata management team to extend Unit 409's pipes in accordance with the terms of the scope of work in the building envelope contract and corresponding warranty insurance that we paid top dollar for has continually interfered with peaceful use and enjoyment of our property for more than a decade.  Gadgets just extend our misery and add insult to the injury knowingly inflicted on us by members of the strata management team acting in violation of the warranty insurance and scope of work in the contract. 
Gadgets do not extend the pipes, the reputation of the strata, or give us any peace - particularly when special levy money paid for pipe extensions was illegally diverted to create panoramic views and demolish and reconstruct illegally added decking - for the benefit of key members of the strata council and others.

On February 27, 2017, after my reports of broken siding ion our patio were repeatedly ignored while the building was power washed for years, the strata finally sent a guy to make repairs.


Instead of using matching hardie board saved from the building envelope project he bought something that does not match because he said it was "easier than going through the pile under the tarp." He says he'll paint it.
Once.

We had to be home to provide access through our unit, but even though the guy was right there to makes repairs this impoverished strata still did not have the pipe extended to the tap on Unit 409's patio - after 12 years - still torturing us to stop complaining about Councillor Sherrill Berg and Georgia Title diverting about half a million dollars of special levy funds paid for building envelope repairs to their own special interests in extra decking and destruction of landscaping.
 
Instead, he "fixed" the tap with a gadget that sends water shooting out at a 45 degree angle onto our patio already damaged by the strata's failure to paint it for over 6 years after it was senselessly demolished and replaced with inferior wood.


On the same day I noticed our hose was missing from the front of Unit 409.

These are just a few of the smallest examples of decades of harm inflicted on us by members of the strata management team acting in sickeningly harmful ways, leaving a long trail of purposeful misrepresentations and unrectified damage to property, buildings, and my health, contrary to contract, law, and decency.

THE COSTS ARE STAGGERING.


Historical sales records show that Sunridge Estates had higher than average property values for attached housing in Coquitlam when we bought here in 1988. By April 2007 the comparative value of the complex had fallen about 40% - to lower than the comparative average for attached housing - after nearly 6 million additional dollars had been invested, inclusive of reconstruction, engineers, architects, lawyers, landscapers, and poor management.

http://www.realtylink.org/hpi/rebgvhpistats.cfm?date=0407&TYPE=buyers
This link was as of 2007. Do the research. Do the math.


Strata management and owner turnover, as well as distress sale prices in the years following the building envelope project were alarming - the direct costs and indirect losses to original owners defy comprehension.

Staggering losses were evident in the historical property values and comparative sales statistics. I believe that damage to the common assets from misconduct in this 26-million dollar strata property amounts to a loss to the strata corporation of an estimated million dollars - or more. I could be wrong, but after 25 years' observation, I'm afraid the loss arises out of a scandalous history at Sunridge Estates of:
  • misconduct
  • cover-ups
  • illegal construction
  • unfair allocation of funds
  • special levy funds diverted
  • unauthorized cutting of trees
  • breaches of restrictive covenants, tree cutting bylaws, and strata enactments
  • followed by: breaking underground pipes...
  • broken pavement
  • sinking buildings
  • incomplete repairs
  • destruction of landscaping
  • high volume sales
  • revolving door changes in strata management
  • more than 4 years without landscaping
  • oppression and loss of peace and enjoyment
  • extraordinary costs in untold amounts ...

We paid about $100,000 in special assessments for strata lot 25 for remedial purposes - not to have the original function of our exterior water taps and deck spoiled; not to have the trees and landscaping surrounding us destroyed; all by uncontrolled, unauthorized, unremedied actions of a corrupt few. Doing the math shows some of the pure economic loss - but none of the environmental detriment or future damages - nor the devastating impact on people's lives.