April 2017

Found 1 blog entry for April 2017.

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The Galbes in Huntington Beach is a great place to find lower priced condos near the beach.  One of the reasons for these low price points is that they are located on lease land.  The lease is scheduled to become due on December 31, 2059 according to current real estate listings in the Gables.  What does this exactly mean.  Here is a quick run down of the land lease situation.

First, owners of the gables don't own the land that is underneath their home and pay a yearly fee to use the land.  This is called a land lease with is essentially a contract to use the land for a certain period of time.  The fee is paid on top of the current $316.00 a month homeowners association.  One of the current listings has the and lease fee paid annually at $8400.00 which