StonebridgeHOA Reserve Study – Another document in the HOA disclosures

If you have the patience to wade through all of the disclosure information that is provided by the HOA when you buy a house, you may stumble upon a document called a reserve study. In fact according to the current AAR Planned Community Addendum, the most recent reserve study must be provided to the buyer if it exists.  If the HOA is responsible for maintaining a community with more than the normal level of common area amenities such as a man made lake or a community park or clubhouse, a reserve study is even more important. The Lakes Dock and Boat

What is a reserve study?

The best definition of a reserve study that I’ve found is “A Reserve Study is the art and science of anticipating, and preparing for, major common area repair and replacement costs. (Association Reserves, Inc.)  There are two parts to the reserve study; the physical analysis and the financial analysis. The physical analysis contains information about the condition and anticipated costs to maintain or replace the assets maintained by the association. The second part is the financial analysis that includes a review of the association’s reserve balance and plan to offset expenses.  As a community has more assets and common area responsibilities, a thorough reserve study becomes very important because of the large capital expenses that can occur.   The purpose of reserve study is to establish reserves that will cover capital common area expenses. Otherwise, a special assessment may be required of each property owner to cover costs that were not anticipated or budgeted.

Reserve studies are not required by law in Arizona even though in other states such as California, Delaware, Utah, Nevada and Virginia they are.   As a prudent steward over the assets of a community it would be very reasonable that a community association would perform a reserve study periodically.  A.R.S. 33-1260 does requires that the buyer be provided with a statement regarding the total Diving Poolamount of money held by the association as reserves.  The significant discussion really centers around how frequently a reserve study should be performed.  In states that do require reserve studies, physical site assessments 3 – 5 years cycles are suggested.

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A benefit of reviewing the reserve study for any Phoenix area home is that a potential buyer or existing owner will be able to see what community assets are being considered for repair or replacement and the anticipated life of each. You’ll also run across terminology regarding the funding strategy and funding resWater Tower Plaza Fountainserve.  Calculations also show how much of the spent or deteriorated asset life has been covered for in the reserves.  Even as a current homeowner, the review of the reserve study is recommended.

The Reserve Study is often overlooked by buyers when they are reviewing the HOA disclosures. Possibly because a potential buyer is busy reading the Conditions, Covenants, and Restrictions (CC&R’s) for the community.  However, a quick review can give a buyer worthwhile insight into the community where their next home will be.

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The Lakes Bill ARS 45-132

$949,900 :: 1410 E CORAL COVE Drive, Gilbert AZ, 85234

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4 beds, 4.5 baths
Home size: 4,832 sq ft
Lot Size: 15,681 sq ft
Added: 01/20/18, Last Updated: 01/20/18
Property Type: Single Family
MLS Number: 5712006
Community: WEST LAKE ESTATES LOT 1-40 TRA
Tract: WEST LAKE ESTATES LOT 1-40 TRA
Status: Active


Your Grand Mediterranean Estate on the water! Imported Inlaid Italian Marble provides a stunning entry that takes your breath away. Dramatic architectural features, & superior new finishes abound throughout the home! Main level features a guest bedroom suite, & walk-in closet. Also, there is grand library/office. The lavish Master Suite has beautiful hardwood floors, sitting area, dual-sided fireplace, three large walk-in closets & picture perfect lake views. The views never stop, the lake can be seen from the elegant living, dining room, large kitchen & family room. Upstairs, are 2 large bedroom suites; one with private bath and walk-in closet. Sit fireside next to the heated pool & spa & entertain on your outdoor covered patio. And so much more! This home is a must see!

Listed with Cooper Premier Properties LLC


Brought to you by Gordon Baker, Remax Alliance Group. Call me today at 480-326-8571, or visit my website at www.myhomeinaz.com/!


$270,000 :: 1062 E ARABIAN Drive, Gilbert AZ, 85296

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3 beds, 2 baths
Home size: 1,762 sq ft
Lot Size: 5,227 sq ft
Added: 01/20/18, Last Updated: 01/20/18
Property Type: Single Family
MLS Number: 5712002
Community: MIRADOR ESTATES AMENDED
Tract: MIRADOR ESTATES AMENDED
Status: Active


Great 3 bedroom/2 bath, single story home in the sought after Mirado Estates! Enter into the large living and formal dining area, then through tothe large eat-in kitchen (with new oven/range and breakfast bar) that is open to the family room. Master suite is spacious and has a large walk-incloset. Freshly painted and new carpeting in 2018, plus a new A/C unit and complete exterior repaint in 2015. Conveniently located near Gilbert's downtown, shopping, restaurants, schools, and more!

Listed with American Realty Brokers


Brought to you by Gordon Baker, Remax Alliance Group. Call me today at 480-326-8571, or visit my website at www.myhomeinaz.com/!


$224,000 :: 4647 E LAUREL Avenue, Gilbert AZ, 85234

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3 beds, 2.5 baths
Home size: 1,375 sq ft
Lot Size: 2,613 sq ft
Added: 01/20/18, Last Updated: 01/20/18
Property Type: Single Family
MLS Number: 5711992
Community: LA ALDEA
Tract: LA ALDEA
Status: Active


Great home in a great location. Home features post tension foundation, upgraded 42'' Hickory Spice Cabinets, granite counter tops, cast iron sink and upgraded ceiling fans. The community also features a community pool/spa playgrounds lots of open space. It is a must see!

Listed with Help U Sell Central Properties


Brought to you by Gordon Baker, Remax Alliance Group. Call me today at 480-326-8571, or visit my website at www.myhomeinaz.com/!


$519,990 :: 4181 E BLUE SPRUCE Lane, Gilbert AZ, 85298

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3 beds, 3 baths
Home size: 2,551 sq ft
Lot Size: 7,405 sq ft
Added: 01/20/18, Last Updated: 01/20/18
Property Type: Single Family
MLS Number: 5712027
Community: TRILOGY UNIT 7 PHASE B
Tract: TRILOGY UNIT 7 PHASE B
Status: Active


This impeccable home is a rare find which truly may be the best lot in Trilogy! Entertainers will delight in the open floor plan with huge covered patios surrounded by the oversized prime comer lot that sits on a park on the side in addition to an unobstructed mountain view to the back. Designed for easy care, this landscaping has mature shade trees and a variety of greenery which add to the awesome curb appeal. The spacious open floor plan has abundant natural light and the neutral color scheme throughout making this the perfect place to call home. A lovely formal living room, and dining room with custom lead glass window, powder bath, open living area with gas fireplace and hardwood flooring in all the right places, with carpet in the bedrooms and tile in bathrooms.

Listed with HomeSmart


Brought to you by Gordon Baker, Remax Alliance Group. Call me today at 480-326-8571, or visit my website at www.myhomeinaz.com/!


$287,990 :: 4046 E RANCH Road, Gilbert AZ, 85296

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3 beds, 2.5 baths
Home size: 1,932 sq ft
Lot Size: 3,049 sq ft
Added: 01/19/18, Last Updated: 01/20/18
Property Type: Single Family
MLS Number: 5711386
Community: COPPER RANCH
Tract: COPPER RANCH
The price of this listing was last reduced on 1/19/2018 by 0%
Status: Active


As you walk through this home's beautiful 8-ft. entry door you'll be greeted by soaring 9-ft. first-floor ceilings. The large great room leads to a private patio in the generous backyard where you can enjoy the outdoors. The adjacent gourmet kitchen offers staggered upper cabinets in Nutmeg, an island with a single-basin sink that's perfect for gatherings, and sleek stainless steel appliances, including a built-in oven, microwave, electric cooktop and dishwasher. Moving upstairs, you'll find a spacious loft, laundry room, two secondary bedrooms, a secondary bath, and the master suite. The master bath boasts an oversized shower in lieu of tub. This ENERGY STAR(r) certified home also includes a 40-gallon water heater, and ENERGY STAR(r) certified appliances. No lockbox.

Listed with KB Home Sales


Brought to you by Gordon Baker, Remax Alliance Group. Call me today at 480-326-8571, or visit my website at www.myhomeinaz.com/!


$446,000 :: 3068 E STANFORD Avenue, Gilbert AZ, 85234

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4 beds, 2.5 baths
Home size: 2,592 sq ft
Lot Size: 11,325 sq ft
Added: 01/19/18, Last Updated: 01/20/18
Property Type: Single Family
MLS Number: 5711325
Community: TONE RANCH ESTATES
Tract: TONE RANCH ESTATES
Status: Active


Centrally located in Gilbert to enjoy the Nearby Dining, Shopping, Entertainment, Outdoors Activities and if needed Medical Facilities are on hand, close-by the 60 frwy... Yet Tucked in a Quiet Neighborhood next to a Big Greenbelt! This Fantastic Bright Open Floor Plan has 4 bdrms, 2.5 baths, 20-inch Diagonal Tile, Staggered Hickory Cabinets, Quartz Countertops, Wood Blinds, Custom Paint, Gas Fireplace and more upgrades. The Split Floor Plan has also has an Open Kitchen looking into the Family room giving Plenty of Space for meal prep or Entertaining!Best part of this Home is that it's Perfectly Situated on a Corner lot, backing up to Open Space with a View Fence overlooking onto the Greenbelt. You can even walk to the Riparian blocks away on the S/W corner of Greenfield & Guadalupe.

Listed with HomeSmart


Brought to you by Gordon Baker, Remax Alliance Group. Call me today at 480-326-8571, or visit my website at www.myhomeinaz.com/!


$485,000 :: 4509 E REINS Road, Gilbert AZ, 85297

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3 beds, 3 baths
Home size: 3,136 sq ft
Lot Size: 10,890 sq ft
Added: 04/27/17, Last Updated: 01/20/18
Property Type: Single Family
MLS Number: 5596589
Community: POWER RANCH NEIGHBORHOOD 3
Tract: POWER RANCH NEIGHBORHOOD 3
The price of this listing was last reduced on 11/22/2017 by 1%
Status: Active


The entire family will fall in love with this bright, open 4 bd/3 ba floorplan. Enter from the 3 car garage with the option to turn any direction...to the kitchen, bedrooms or living area. Relax in the family room, or entertain in the great room while your guests watch you cook in the kitchen! Split master bedroom with recent upgrades to enhance the spacious master bathroom. The open backyard features a well-designed & manicured landscape, a large grass area, fruit trees, a beautiful tiled pool with waterfall feature, and covered patio for BBQ & shade. Enjoy activities at the community parks & pool or relax while fishing at the lake. It's all here, welcome home!

Listed with Berkshire Hathaway HomeServices Arizona Properties


Brought to you by Gordon Baker, Remax Alliance Group. Call me today at 480-326-8571, or visit my website at www.myhomeinaz.com/!


$369,000 :: 3548 E POWELL Way, Gilbert AZ, 85298

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3 beds, 2 baths
Home size: 2,248 sq ft
Lot Size: 6,969 sq ft
Added: 12/10/17, Last Updated: 01/20/18
Property Type: Single Family
MLS Number: 5697219
Community: SEVILLE PARCEL 3
Tract: SEVILLE PARCEL 3
The price of this listing was last reduced on 1/15/2018 by 2%
Status: Active


Truly a gorgeous 3 bed, 2 bath HOME, located in Gilbert! This amazing home offers grassy/gravel landscaping, 3 car garage, neutral paint, formal living-dining room, den perfect for an office, and family room. The open kitchen features stainless steel appliances, ample cabinetry, granite countertops, pantry, and a lovely island with breakfast bar. The master suite includes an immaculate bath, double sink, separate tub & step-in shower, and a spacious walk-in closet. You will love the backyard with covered patio, gravel landscaping, and a fenced blue pool great for the summer! This house has it all! Schedule a showing today!

Listed with Realty ONE Group


Brought to you by Gordon Baker, Remax Alliance Group. Call me today at 480-326-8571, or visit my website at www.myhomeinaz.com/!


$318,000 :: 2345 E ROBIN Lane, Gilbert AZ, 85296

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3 beds, 2 baths
Home size: 1,867 sq ft
Lot Size: 7,405 sq ft
Added: 01/20/18, Last Updated: 01/20/18
Property Type: Single Family
MLS Number: 5711941
Community: MANOR AT FINLEY FARMS UNIT 2
Tract: MANOR AT FINLEY FARMS UNIT 2
Status: Active


Charming 3 bed 2 bath home in desirable Finley Farms. This well kept home has a split floor plan with large great room and built in entertainment wall. Kitchen with spacious eating area boasts gas stove and ample cabinetry. The living area looks out to a sparkling pool and grassy area just beyond the extended patio with new ceiling. Great location close to shopping, schools, golfing and more!

Listed with West USA Realty


Brought to you by Gordon Baker, Remax Alliance Group. Call me today at 480-326-8571, or visit my website at www.myhomeinaz.com/!


$334,900 :: 555 W SILVER CREEK Road, Gilbert AZ, 85233

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4 beds, 3 baths
Home size: 2,348 sq ft
Lot Size: 6,534 sq ft
Added: 01/19/18, Last Updated: 01/20/18
Property Type: Single Family
MLS Number: 5711910
Community: MADERA PARC AMD LOT 1-447 TR A
Tract: MADERA PARC AMD LOT 1-447 TR A
Status: Active


MODEL SHARP HOME * NEUTRAL CARPET JUST INSTALLED * TRAVERTINE FLOORING WITH INLAID MEDALLION * REMODELED KITCHEN * NEW ESPRESSO CABINETS * SLAB GRANITE COUNTERS * VAULTED CEILINGS * RAISED PANEL DOORS * PLANTATION SHUTTERS * GARDEN TUB * GLASS BLOCK & CLERESTORY WINDOWS * GARAGE CABINETS & WORKBENCH * COVERED PATIO * ENTERTAINER'S BACKYARD * EXTENDED PAVER PATIO * PLANTER WALLS WITH SEATING * BARBECUE ISLAND * OUTDOOR SPEAKERS * BEAUTIFULLY LANDSCAPED * CITRUS TREES * NO HOA * THIS ONE IS NICE * DON'T MISS IT!

Listed with Realty ONE Group


Brought to you by Gordon Baker, Remax Alliance Group. Call me today at 480-326-8571, or visit my website at www.myhomeinaz.com/!