Thursday, November 21, 2013

Open letter from an owner: 'Grand entryway' to Palermo's future

Positively Palermo received this e-mail: "Ms. Penny Lane. Thank you for your informative site. Could you post this as an Open Letter to the community? The letter - We were one of the first at Palermo and purchased our condo during the frenzied times, paid top dollar, in addition to $50,000 in developer upgrades. Those go-go-go days were so fun here at Palermo with new people moving in and a shared sense of wonderment of this special design and feel - like no where else for us. Yet shortly afterward even back then things happened like a $100 increase in dues in a single year. Later on we had dues increase of $25 or $30 per year, and we thought by 2013/2014 that the Palermo dues would be well over $500 per month. Palermo became a love-hate thing for us because we were not just underwater, we were in deep deep water, and we felt helpless and walking away was and is not an option for us. We felt in the dark oftentimes and we live away from PS and your Site was a godsend to us and it is still. But I guess my point is that, and what I want to get out and share to fellow owners, is we have become changed in thought; we are still underwater, but that Palermo is not a burden to us and we see it again as a long-term option and investment and future full-time home for us. The changes we have seen in the management have been fantastic and the dues staying another third year at $294 a month is such a relief. The new paint, trees, plants, and bank sale of the Enterprise places and the better bottom line are just great in our book and sort of unbelievable for the days of the crash. Our home just 2 years ago would sell for 1/3 of what we paid for it and now it is valued at 2/3s. Something is working at Palermo!  We have agents trying to get us to sell! Lastly, we too love the grand entryway of palms you published." Miss Penny Lane: She's in a colorful mood too despite the gray skies.

3 comments:

Anonymous said...

Good for you for sticking with it instead of bailing like everyone else and dumping your problems on your lender or the taxpayers.

JBK said...

I want to ditto everything the author of the letter wrote... sounds exactly like our situation. It really has been a roller coaster ride from the day I stood on our second floor balcony when no walls or roof were built yet to today where we truly have an exceptional community. While we are not around a lot, I must express my immense gratitude for those who have worked so hard to make our community such a beautiful place to own a home. Thank you so much! Happy Thanksgiving!

Quiet Side Sis said...

I second the words of JBK... Happy holidays to you all!!!