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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$230,000 :: 3565 E WOODSIDE Way, Gilbert AZ, 85297

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3 beds, 2 baths
Home size: 1,352 sq ft
Lot Size: 6,098 sq ft
Added: 07/25/17, Last Updated: 07/25/17
Property Type: Single Family
MLS Number: 5637494
Community: SAN TAN RANCH PARCEL 2
Tract: SAN TAN RANCH PARCEL 2
Status: Active


DON'T MISS OUT ON THIS ADORABLE THREE BEDROOM, TWO BATH HOME IN THE DESIRABLE SAN TAN RANCH. THIS ONE FEELS SPACIOUS INSIDE WITH IT'S VAULTED CEILINGS AND OPEN FLOORPLAN. STORAGE IS AMPLE AS WELL WITH THE WALK-IN CLOSET IN THE MASTER BEDROOM AND THE PANTRY IN THE KITCHEN. HOME IS NORTH/SOUTH FACING AND SITS IN THE HEART OF THIS GREAT NEIGHBORHOOD. GREAT SCHOOLS ARE NEARBY AS IS SHOPPING AND FREEWAY ACCESS. THIS ONE HAS FRESH PAINT INSIDE AND OUT. JUST WAITING FOR IT'S NEW OWNER. WON'T LAST.

Listed with RE/MAX Fine 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/!


$199,900 :: 4698 E LAUREL Avenue, Gilbert AZ, 85234

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3 beds, 3 baths
Home size: 1,262 sq ft
Lot Size: 2,613 sq ft
Added: 07/24/17, Last Updated: 07/25/17
Property Type: Single Family
MLS Number: 5637482
Community: LA ALDEA
Tract: LA ALDEA
Status: Active


This charming home offers a warm and inviting family room and open kitchen with the views of a beautiful greenbelt and community pool! upgraded kitchen appliances and cozy, low maintenance patio. Mostly tile downstairs, Carpet in the right areas and beautiful wood flooring in the family room. Come by and take a look before it's gone!

Listed with Better Homes & Gardens Real Estate Move Time 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/!


$945,000 :: 3044 E Blackhawk Drive, Gilbert AZ, 85298

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7 beds, 6 baths
Home size: 5,355 sq ft
Lot Size: 20,473 sq ft
Added: 07/09/17, Last Updated: 07/25/17
Property Type: Single Family
MLS Number: 5630843
Community: Acacia Estates
Tract: Acacia Estates
The price of this listing was last reduced on 7/9/2017 by 3%
Status: Active


Spanish Colonial home by T.W. Lewis in Gated Acacia Estates features a backyard oasis, separate casita & basement. Sparkling salt water pool, wifi controls, LED lighting, water feature, travertine pavers & pergola. A 2,000 sq ft putting green by Southwest Greens. Custom knotty alder shutters w/5 1/2" louvers & custom crown rope framing, hardwood flooring & 20" Tile. Chef's kitchen, alder cabinets, center island, granite counter-tops & stainless steel appliances. Spacious Owner's Suite, Dual Walk-In closet & Snail Shower. Split bdrm floor-plan, 6 Bdrm /5 Bath in main house, large bonus room & 4-Car side load garage. Casita has private entrance, an additional bedroom, walk in closet & full bath."La Robla" Floor Plan, spray foam insulation, located next to grassy common area, no neighbor behind

Listed with Re/Max Results


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


$410,000 :: 337 E SHANNON Street, Gilbert AZ, 85295

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4 beds, 2 baths
Home size: 2,624 sq ft
Lot Size: 44,866 sq ft
Added: 07/24/17, Last Updated: 07/24/17
Property Type: Single Family
MLS Number: 5637451
Community: RANCHOS DEL SOL
Tract: RANCHOS DEL SOL
Status: Active


Quiet Country Living close to schools, shopping and the 202 for easy access to work. 4 Bedroom home with updated kitchen, 2 way fireplace in family room, detached carport with workshop that could be tack room. Lots of great storage, SRP irrigate, fruit trees, and fenced pasture. NO HOA

Listed with Robert Miles Realty, 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/!


$344,500 :: 4058 E KROLL Drive, Gilbert AZ, 85234

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3 beds, 2 baths
Home size: 2,134 sq ft
Lot Size: 7,405 sq ft
Added: 05/11/17, Last Updated: 07/24/17
Property Type: Single Family
MLS Number: 5604335
Community: SUPERSTITION HIGHLANDS
Tract: SUPERSTITION HIGHLANDS
The price of this listing was last reduced on 6/17/2017 by 1%
Status: Active


Pride of ownership. This home has so many upgrades to list. Nice single story floor plan with 3 bedrooms and a den, 2 baths, family and living rooms. Custom paint, neutral upgraded carpet in the bedrooms and Travertine throughout the home. Large master bedroom with upgraded bath and large walk-in closet. Spacious kitchen with granite counters, kitchen island, upgraded newer cabinets, upgraded newer appliances, and travertine flooring. Nice curb appeal. Large N/S lot. Professionally landscaped front yard and backyard with covered patio, water fountain, and mature trees.

Listed with Hegazy 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/!


$329,500 :: 1803 S STARLING Drive, Gilbert AZ, 85295

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4 beds, 0 baths
Home size: 2,676 sq ft
Lot Size: 5,227 sq ft
Added: 07/08/17, Last Updated: 07/24/17
Property Type: Single Family
MLS Number: 5630421
Community: GATEWAY VILLAGE
Tract: GATEWAY VILLAGE
The price of this listing was last reduced on 7/16/2017 by 3%
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This home is amazing. A LOW maintenance yard with an amazing pool with water features. 4 Bedroom that could easily be turned into 5 bedrooms! Guest room/ Office, AND a Loft. Large kitchen opens into the family room, beautiful paint everywhere. Large closets and tons of storage. Huge master bedroom, with walk-in closet and double sinks, shower, tub in master bath. Walk out balcony, covered patio with upgraded stone pavers. Pride of ownership.

Listed with JK 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/!


$227,500 :: 67 E PALOMINO Drive, Gilbert AZ, 85296

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3 beds, 0 baths
Home size: 1,684 sq ft
Lot Size: 3,049 sq ft
Added: 07/19/17, Last Updated: 07/24/17
Property Type: Single Family
MLS Number: 5635070
Community: VILLAGE AT GILBERT & WARNE
Tract: VILLAGE AT GILBERT & WARNE
The price of this listing was last reduced on 7/19/2017 by 3%
Status: Active


A wonderful place to call home. This gorgeous 3 bedroom 2.5 bath gem won't last long. 18'' tile and two tone paint throughout. Kitchen features upgraded cabinets, island and stainless appliances. Large master bedroom. Master bath has separate tub and shower and huge walk in closet. Convenient upstairs laundry. Entertain family and friends in the community pool. Wonderful home minutes away from historic old town Gilbert.

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/!


$249,900 :: 4473 E TRIGGER Way, Gilbert AZ, 85297

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3 beds, 2 baths
Home size: 1,476 sq ft
Lot Size: 5,662 sq ft
Added: 07/24/17, Last Updated: 07/24/17
Property Type: Single Family
MLS Number: 5637406
Community: POWER RANCH
Tract: POWER RANCH
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Single level home with 3 car garage in Power Ranch! Great Room open floor plan with ''Wire Brush, Hand Distressed HARDWOOD FLOORING''. Chef's Delight in this Kitchen:Upgraded Cabinets, Black appliances,NEW MICROWAVE, Refrigerator,Gas STUB for range,eat up breakfast bar/island, Pantry,Dishwasher, Undermount lighting,Cabinets Galore!Split Master Suite with dual sinks,walk in closet. Three car garage with epoxy flooring and daylight windows! Wood 2 inch blinds. Slider off Great Room to covered Patio with grass backyard! Power Ranch has Community Pool.Spa and Rec Center, Tennis Courts, Shopping Galore and Freeway is a few miles away! Home is ready for a quick close so make this your number 1 choice!

Listed with Century 21 Arizona Foothills


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


$219,900 :: 3107 S JOSHUA TREE Lane, Gilbert AZ, 85295

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3 beds, 2 baths
Home size: 1,228 sq ft
Lot Size: 4,356 sq ft
Added: 07/24/17, Last Updated: 07/24/17
Property Type: Single Family
MLS Number: 5637386
Community: PECOS MANOR
Tract: PECOS MANOR
Status: Active


Move-in Ready 3 bedroom, 2 bath home in Pecos Manor! Upgraded flooring in main living areas. Granite counters, maple cabinets in kitchen that over looks living and dining rooms. Master bedroom features walk-in closet and beautiful ensuite with double sinks. Pavered patio and grassy backyard. Located near Higley High School and other great Gilbert highlights, San Tan Village Mall, Discovery Park and easy access to the 202. MORE PHOTOS TO COME ON 7/25.

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


$300,000 :: 238 E SAGEBRUSH Street, Gilbert AZ, 85296

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4 beds, 2 baths
Home size: 2,092 sq ft
Lot Size: 7,405 sq ft
Added: 07/24/17, Last Updated: 07/24/17
Property Type: Single Family
MLS Number: 5637379
Community: SETTLER'S POINT PARCEL C LOT 1
Tract: SETTLER'S POINT PARCEL C LOT 1
Status: Active


Wow! This home is immaculate and beaming with beauty! Soaring ceilings, gorgeous wood floors, and lovely plantation shutters welcome you upon entry into the home. The eat-in kitchen offers plenty of cabinetry and opens to the spacious family room. All the bedrooms are bright, feature beautiful wood floors, and have an extremely spacious feel with the high vaulted ceilings. The large back yard offers a covered patio, and it does not back to any neighbors for added privacy! This home is situated just minutes from all the great shopping, dining, and theaters of Gilbert Town Square, Mirador Square, and San Tan Village!

Listed with Keller Williams Realty East Valley


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