Financial Overview

67 Ranchero – another victory lap for the community

We are delighted to report that the previously unproductive asset to the HOA, 67 Ranchero, was sold on April 15 for $400,000. At the March 30th Town Hall, it was footnoted as a potential source of additional funding to help recapitalize the community - we can now report that the transaction is complete. Congratulations to the team that worked hard and achieved this favorable outcome for the community!

The problem in selling the property primarily arose from the previous board's failure to buy title insurance when they acquired the property, resulting in the market value suffering and the transaction being much more complicated, requiring creative cooperation between the buyer, the seller (HOA), and the four homeowners who owned abutting lots.

Other property selling challenges included the Ventura Fire Department's 20-foot wide driveway requirement, but nothing hard work and cooperation between all the parties couldn’t resolve.

All's well that ends well – this was a win-win for all, most importantly, Bell Canyon members!