To maintain property values and preserve a residential quality of life for everyone in the subdivision.
It is common knowledge in the real estate community that property in a well kept neighborhood where covenants are in place is worth
more than an identical property in an unkept or unregulated neighborhood. People who invest in residential property in value over
$300,000 are even more sensitive to the state of the entire subdivision. This is for a simple and obvious reason, they have more choices
in nicer areas.
A person buying a property of $300,000 or more isn't likely to buy on a street plagued by eyesores like junked vehicles, commercial
trucks and unkept lawns. They have a choice and the seller is the one who suffers as a result of their neighbor's actions. In addition,
such conditions indicate the subdivision is no longer being used exclusively for residential purposes. Most people prefer not to live in or
around an industrial area and look for even small indicators that a tract of homes is in a decline. Decline in ascetics means also a decline
in home values thus nobody wants to purchase a home that will go down in value.
We all know of cases where homeowners have exceeded their authority and enforced silly or petty violations of covenants. West
Fairway is now on the cusp of a value decline as many of the indicators are present. We need to work together to preserve our home
values and enforce covenants through an association of reasonable homeowners who look after one another's best interests.
|Fairway West Homeowners Website