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.

If you’d like to receive automatic updates of any homes in the southeast valley, click on receive real estate listings automatically.

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.

If you would like to know an honest valuation of your  home, please click on What’s My Home Worth.

Related Posts

Waterfront Homes by Price

TopGolf comes to Gilbert

Driving through neighborhoods virtually!

Gilbert Homes for Sale

The Lakes Bill ARS 45-132

$474,000 :: 1829 S PONDEROSA Drive, Gilbert AZ, 85295

Property Photo

Mls Icon

5 beds, 3.5 baths
Home size: 3,378 sq ft
Lot Size: 9,583 sq ft
Added: 06/19/17, Last Updated: 09/22/17
Property Type: Single Family
MLS Number: 5622037
Community: LYONS GATE PHASE 7
Tract: LYONS GATE PHASE 7
The price of this listing was last reduced on 9/18/2017 by 0%
Status: Active


Look no further! This fantastic 5 bed, 4 bath property now for sale in Gilbert is just the one you've been looking for! This gorgeous home features 3 car garage, formal dining and living areas, a den, and designer paint. The fabulous kitchen offers ample cabinetry, a walk-in pantry, granite countertops, tile backsplash, stainless steel appliances including a wall oven, and an island with a breakfast bar. The beautiful master bedroom includes a full bath with double sinks, separate tub and shower, and a walk-in closet. The stunning backyard is comprised of a covered patio, paved seating area with built-in BBQ, a refreshing above ground spa, and a putting green for improving your game at home! Don't let this incredible opportunity slip by, schedule a showing today

Listed with Re/Max Platinum Living


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


$285,000 :: 4123 S SHADY Court, Gilbert AZ, 85297

3 beds, 2 baths
Home size: 1,678 sq ft
Lot Size: 6,969 sq ft
Added: 09/22/17, Last Updated: 09/22/17
Property Type: Single Family
MLS Number: 5663686
Community: POWER RANCH NEIGHBORHOOD 4
Tract: POWER RANCH NEIGHBORHOOD 4
Status: Active


Gorgeous, move-in ready home located on a pie-shaped lot in Power Ranch! Located on a small cul-de-sac, this home has been meticulously cared for. Large, open-concept main living area welcomes you into the home with vaulted ceilings. This home is light and bright, with neutral paint throughout. Upgraded eat-in kitchen offers granite countertops, stainless steel appliances, and breakfast bar at the island. Just off the living area is a den with custom barn doors. This home features a split floor plan with the master suite at the back of the home. Master bath offers separate shower and tub, double sinks at the vanity, and a walk-in closet. At the front of the home, there are 2 more bedrooms, another full bathroom, and convenient interior laundry. Relaxing backyard boasts a glistening pool &

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/!


$249,900 :: 4111 S MARTINGALE Road, Gilbert AZ, 85297

3 beds, 2 baths
Home size: 1,412 sq ft
Lot Size: 6,969 sq ft
Added: 09/22/17, Last Updated: 09/22/17
Property Type: Single Family
MLS Number: 5663693
Community: WINDMILL RANCH
Tract: WINDMILL RANCH
Status: Active


Bright open floor plan located in Windmill Ranch is sure to please. 3 bed, 2 bath single level home with large great room open to lovely kitchen. Beautiful granite in the kitchen and bathrooms with stainless steel appliances in the kitchen. RV gate access to large landscaped back yard with no neighbors behind. Schools, shopping and entertainment all located within a short distance.

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/!


$320,000 :: 544 W AVIARY Way, Gilbert AZ, 85233

4 beds, 2.5 baths
Home size: 2,836 sq ft
Lot Size: 8,712 sq ft
Added: 09/22/17, Last Updated: 09/22/17
Property Type: Single Family
MLS Number: 5663702
Community: NEELY RANCH
Tract: NEELY RANCH
Status: Active


Large, premium lot backing to the wildlife sanctuary in the perfect location just a mile away from Downtown Gilbert! This home features a great layout complete with formal living and dining, eat-in kitchen with island and HUGE pantry. Upstairs features spacious bedrooms and additional bonus loft space. Large master suite is complete with walk-in closet and double sinks. Backyard has covered patio, RV gate with parking and with the size of this lot the backyard options are endless. Don't miss this property!

Listed with Revelation Real Estate


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


$284,777 :: 527 W SAGEBRUSH Street, Gilbert AZ, 85233

Property Photo

Mls Icon

4 beds, 2 baths
Home size: 1,642 sq ft
Lot Size: 6,534 sq ft
Added: 09/22/17, Last Updated: 09/22/17
Property Type: Single Family
MLS Number: 5663645
Community: LAGO ESTANCIA
Tract: LAGO ESTANCIA
Status: Active


Gorgeous Updated Family Home w/Views of The Greenbelt/Park Behind You!Features Include Spacious Living Room w/Laminate Wood Floors,High Ceilings,Recessed Lighting For Pictures,Remodeled Kitchen w/Granite Counters,Built-In Double Ovens,Center Island,Newer Cabinets w/Hardware,SS Refrigerator,R/O,Bay Window w/Seat in Breakfast Area,Tile Floors,New Double Sliding Door to Pool,Great Room Floor Plan,Master Has Walk In Closet,Bay Window,Updated Bath w/Tiled Shower,Raised Height Counters,Double Sinks,Laundry Room w/Cabinets,Sparkling Salt Water Pebble Tec Pool w/Newer Variable Speed Pump,Stamped Concrete Covered Extended Patio,Water Misting System,Patio Shades,Soft Water System,Cabinets,90 Gallon Hot Water Heater,Extra Parking Space on Side By RV Gates,Storage Shed,Awesome View of Greenbelt!

Listed with Revelation Real Estate


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


$399,733 :: 1301 E AZALEA Drive, Gilbert AZ, 85298

4 beds, 3 baths
Home size: 2,640 sq ft
Lot Size: 9,583 sq ft
Added: 09/22/17, Last Updated: 09/22/17
Property Type: Single Family
MLS Number: 5663668
Community: VISTA DORADA
Tract: VISTA DORADA
Status: Active


Beautiful 4 bed/3 bath home with pool/spa and 3 car garage! 1st floor bedroom or den. 3 additional large bedrooms upstairs plus an oversized loft with an additional area for a kids playroom/exercise room, etc. All appliances included. Kitchen has beautiful silestone counter tops. Tile floors in all of the right places. There is a fireplace in the family room, which is very hard to find in the area. Community park on the same street as well as the soccer field close by. Don't miss out on this amazing family neighborhood!

Listed with Coldwell Banker Residential Brokerage


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


$364,900 :: 3406 E PLUM Street, Gilbert AZ, 85298

Property Photo

Mls Icon

4 beds, 2 baths
Home size: 2,003 sq ft
Lot Size: 6,534 sq ft
Added: 07/12/17, Last Updated: 09/22/17
Property Type: Single Family
MLS Number: 5632262
Community: MARBELLA VINEYARDS PHASE 2A RE
Tract: MARBELLA VINEYARDS PHASE 2A RE
The price of this listing was last reduced on 8/15/2017 by 1%
Status: Active


Two and a half year old beautiful four bedroom, barely lived in. Gourmet kitchen, upgraded granite counter tops, upgraded kitchen cabinets. Beautiful community.

Listed with AZ Realty Network


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


$258,000 :: 1878 S SETON Avenue, Gilbert AZ, 85295

Property Photo

Mls Icon

3 beds, 2.5 baths
Home size: 1,884 sq ft
Lot Size: 3,920 sq ft
Added: 09/05/17, Last Updated: 09/22/17
Property Type: Single Family
MLS Number: 5656273
Community: LYONS GATE PHASE 5
Tract: LYONS GATE PHASE 5
The price of this listing was last reduced on 9/15/2017 by 3%
Status: Active


*Motivated sellers* Welcome home! This beautiful 3 bedroom, 2.5 bathroom plus additional office is located in desirable Lyon's Gate community. It features an open floor plan, kitchen with 42' maple cabinets and newer appliances included! Large master bathroom includes double sink and private toilet room. Laundry room is conveniently located upstairs. This home also features gorgeous crown molding throughout! Low maintenance backyard with turf landscaping. Close to freeway, shopping, restaurants, and great schools. Original owner, very well kept and extremely clean, must see! This community offers: pool, spa, club house, playground, basketball court

Listed with S. J. Fowler Real Estate, Inc.


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


$498,000 :: 7863 S PENROSE Drive, Gilbert AZ, 85298

Property Photo

Mls Icon

5 beds, 3.5 baths
Home size: 3,655 sq ft
Lot Size: 9,147 sq ft
Added: 08/30/17, Last Updated: 09/22/17
Property Type: Single Family
MLS Number: 5653637
Community: ADORA TRAILS PARCEL 5
Tract: ADORA TRAILS PARCEL 5
The price of this listing was last reduced on 9/7/2017 by 0%
Status: Active


Absolutely stunning home with FOUR car garage! 5 Bedroom 3.5 bath situated on a large view lot. Guest bedroom and full guest bath on lower level. Custom color palette and neutral flooring throughout. Formal Living and dining rooms. Large open kitchen is complete with a plethora of cabinets, island, granite counter tops, and stainless steel appliances. One of a kind wrought iron staircase leads to second floor. Master suite retreat has plush carpet with ceiling fan and a private exit to balcony. Full spa bathroom with dual sink vanity and separate soaking tub + shower. Spacious walk in closet! Huge loft with picture windows and ceiling fan. Resort style backyard features a covered patio with lush green grass, a sparkling pool, and million dollar park and mountain views!

Listed with Revelation Real Estate


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


$489,900 :: 1127 E TULSA Court, Gilbert AZ, 85295

Property Photo

Mls Icon

5 beds, 3.5 baths
Home size: 3,552 sq ft
Lot Size: 10,018 sq ft
Added: 08/29/17, Last Updated: 09/22/17
Property Type: Single Family
MLS Number: 5653253
Community: ASHLAND RANCH
Tract: ASHLAND RANCH
Status: Active


This squeaky clean home has room to roam with 3,554SF, 5 bedrooms (master bedroom is downstairs) & 3.5 baths. There is new interior paint & carpet (Aug 2017), tile in all the right places, granite counters & backsplash, tons of maple wood cabinets & stair rail (not oak!), upgraded appliances, plantation shutters & ceiling fans thruout, vaulted ceilings, cozy gas fireplace, separate tub/shower in master, laundry sink & garage cabinets in 3C garage with epoxy floor. The back yard is perfect for entertaining with sparkling pool & spa, swim up bar, water slide, built-in BBQ, fireplace & big covered patio. The home is on a cul de sac lot walking distance to community park. Super location close to Ashland Ranch Elementary, 202 Freeway & San Tan Mall with restaurants, shopping & entertainment!

Listed with 1st Southwest 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/!