Happy Holidays to all Caribe Owners!
We would like to wish everyone a very Merry Christmas and a Happy New Year! We have completed several big projects this year, and have several more planned for the winter months through 2019. We are excited to have made progress in refurbishing the balconies, fire sprinkler system, and pool equipment repairs; along with new carpet in the C corridors, a splash pad, new trolley, and numerous other property repairs. We have already begun refurbishing the lazy river deck to fix the substructure and eliminate the splinter problem that became an issue this past year.
In real estate sales, we have seen a decrease in the number of property transactions from 66 in 2017, to 48 in 2018, however, the average property sales price increased 5%. After the board approved moving 10% of COA’s dues income to a reserve account, primary residency buyers now have the ability to make a 5% down payment. Refinancing options have become more flexible due to these budgetary changes and government-backed mortgages.
We are looking forward to more property improvements throughout 2019! As owners, we hope you enjoy your property as much as we are proud to serve you.