Community Associations and increasing the value of homes in the neighborhood

A new study done in Northern Virginia by a George Mason University professor and student shows that community associations may increase the value of property by 5-6% over comparable homes in adjacent communities without associations. Publishing their findings in Regulation magazine, the authors note that the home value added by community associations is “especially remarkable when one considers that (HOA) residents pay twice for many local services—once in taxes and then again in HOA fees.” In addition, the authors put forth legitimate questions, including: Do community associations add to home values by offering higher-quality services than local government or by providing benefits that governments can't (for example, greater zoning restrictions)? To find out more: http://www.cato.org/pubs/regulation/regv28n3/v28n3-2.pdf