By John and Robbie Lewis
Several years ago, being trusting seniors and new to the area, we purchased what was said to be “affordable housing for seniors on a moderate income.” Not only had $100,000 just been slashed from the price but the city would buy it back if it didn’t work out for us.
Well, it didn’t work out for us….we found it necessary to support a very elderly mom, and we had to move.
We listed it, found a buyer, had a deal, lost a deal. The housing market crashed. It still sits empty 4 1/2 years later. We continue to pay into the homeowners association, taxes, insurance, utilities, a bank loan and living expenses for us and Mom.
We asked the city if we could rent it temporarily. No. We asked the city to buy it back. No.
Affordable housing might look good on paper, but for the elderly who have changing situations, it is a catastrophe ... an unnecessary catastrophe.
Not only is the housing market nonexistent, which makes this place unsellable, the HOA filed a $2.7 million lawsuit against the builder for shabby construction. No lending institution will make a loan.
The city found enough money to build new office buildings for millions, yet can’t find $280,000 to buy this property back.
Hmmm. Can’t sell, can’t rent, city won’t buy it back.
People die, go to nursing homes or need to relocate, but I guess that’s not allowed by the city of Novato.
It looks good on their paper. Not ours.