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“While economists and Realtors try to read favorable signs into national home sales data, frustrated Florida community association owners foresee 2010 actions ranging from potential community bankruptcies at one extreme, to deferred maintenance, amenity cuts and a lowering of association standards that further threaten property values,” the CALL report said.
Some 86 percent of Florida condominium and homeowners associations expect foreclosures and delinquencies to stay the same or increase next year, creating additional revenue shortfalls for their associations.
A survey conducted by the Community Association Leadership Lobby, or CALL, a group that lobbies state legislators on behalf of condominium and homeowners’ associations.
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