You've found the perfect property to buy, whether it is a condo or detached house. If it falls within the guidelines of a Folsom CA community association, such as The Parkway, or Empire Ranch, make sure you educate yourself on the bylaws before buying or else you run the risk of being terribly unhappy.

Homeowners association, property owners association, cooperative, condominium association, council of homeowners and common interest development are all names that mean there exists a governing body whose fiduciary responsibility is to preserve the nature of the community and the value of the property owned by members.  There are many planned developments in the Folsom CA real estate market.

However, sometimes conflicts arise and often they happen because buyers become attached to a property and decide to buy it before they fully review the governing documents, including the Covenants, Conditions & Restrictions (CC&Rs).

According to the Community Association Institute there are very important questions to ask before you purchase a property that's governed by a community association so that you don't get locked into rules that you can't or don't want to abide by. Here are a few of them to keep in mind:

• How much are the assessments, and when are payments due?
• How often can assessments increase and by how much?
• What procedures are in place to collect delinquent assessments?
• What is the annual budget and how does it compare to similar communities?
• Does the community have a viable reserve to fund major, long-term maintenance and repairs?
• Are there restrictions on renting property?
• What are the rules with respect to pets, flags, outside antennas, satellite dishes, clotheslines, fences, patios, parking and home businesses?
• Are board meetings open to all residents?

For complete information about the Folsom, CA real estate market including current homes for sale, property values and more please visit the most complete website online dedicated to everything Folsom CA Real Estate at http://www.livinginfolsomtoday.com. Please feel free to contact me with any of your real estate or mortgage related questions and I will be more than happy to answer them!

Call me at 916-502-4420 or email me at anaiman@connectrealty.com.