Snapper Village Community

Let’s be honest:
Selling or financing a condo right now is not for the faint of heart. With strict guidelines and reserve requirements, conventional bank approvals are stopping dead in their tracks. It is a complex, stressful process that catches many off guard. But a tough market doesn't mean you are out of options. It just means the standard approach won't work anymore. When a condo association doesn't fit into a neat lending box, it takes deep and real to keep a deal alive—whether that means leveraging portfolio loans, alternative Non-QM financing, or cash.

I have spent 23 years full-time in this market. I won't sugarcoat the facts or tell you a complex sale is easy just to make you happy. What I will give you is uncompromised integrity, direct truths, and the expert navigation required to protect your equity. Let's have a realistic conversation about your property value.

Your neighborhood Realtor,

Ana Farje
📱 (305) 793-1994📧 [email protected]
📍 Keller Williams Realty Premier Properties

As I mentioned in the neighborhood “OPEN” group, my goal is to empower homeowners with information and legal updates so you can make educated decisions about our community.

- - -> I am not an attorney, and nothing I share should be considered legal advice. I am sharing this information from the perspective of someone who has lived, worked, and enjoyed life in Snapper Village 🏡🏝️🌳 for the past 23 years.

During those 23 years, I have consistently listed, sold, rented, and managed properties in Snapper Village every single year, giving me firsthand experience with how 🔸association decisions, 🔸financing restrictions, 🔸budgets, and 🔸property conditions can affect our homeowners and PROPERTY VALUES.

I also had the privilege of serving as Vice President of the Association in 2008, which gave me additional perspective, experience, and respect for the responsibilities carried by current board members. Especially those that are there because they were elected by homeowners.

I’m sharing my “Myth vs. Truth” presentation again—this time slide by slide—to make it easier for those interested in understanding how Fannie Mae ineligibility affects financing options, marketability, and ultimately, property values.

I bring the facts, research, and experience. Homeowners may debate different positions and reach different conclusions, but one decision cannot be avoided: whether or not you should vote this year to fund non-SIRS reserves and, regardless of that vote, carefully review and understand our community budget.

My hope 🙏🏼 is that this information helps every homeowner participate and vote based on facts rather than assumptions. Also, if you are selling your unit, please avoid costly mistakes by not saying Snapper Village townhouses have reserves because it doesn’t.

If you have any other real estate or financing questions, please contact me anytime 📲 (305) 793-1994.

🧘🏼‍♀️ Good evening, neighbors!

Looking for a wonderful way to start your Sunday?

If you live in Snapper Village, please feel free to join us tomorrow at 9:30 AM at the pavilion for our community yoga class. Everyone is welcome—whether it’s your first class (and you are clumsy like me 😅) or you’ve been practicing for years.

Just bring water, and a smile. 🌿

A very special thank you to our neighbor, Carolina, who generously volunteers her time and talent each week to help make our community healthier, stronger, and more connected.

And to Carolina, please know that our appreciation is just as heartfelt and voluntary as your generosity. Thank you for bringing us together, one class at a time. 💚🙏🏼

📍 Snapper Village Pavilion
🗓️ Sunday 08/02
🕤 9:30 AM

We hope to see you there! 🧘🏼‍♀️🌿

Note: The location may change if the pavilion has been reserved.

💯 🎯 👍🏼 Absolutely!

Florida Law Is Clear: HOAs and Condo Board Members Cannot Secretly Profit From Their Position

Florida law places strict ethical requirements on condominium board members, officers, and community association managers when it comes to money, commissions, and conflicts of interest.

The law is designed to ensure that decisions are made in the best interests of unit owners—not for someone's personal financial gain.

Under Chapter 718 of the Florida Statutes, condominium officers and directors generally may not solicit, accept, or agree to accept kickbacks or other personal benefits from companies that provide, or seek to provide, goods or services to their association.

That means a board member cannot secretly receive money, referral fees, commissions, gifts, or other compensation from vendors because of the position they hold.

Transparency Matters

Florida law also addresses conflicts of interest.

If a board member, officer, or a business they own has a financial interest in a contract involving the condominium association, that relationship must be properly disclosed and handled according to the procedures established by state law.

The purpose is simple: homeowners deserve to know when someone making decisions may also have a financial interest in the outcome.

What About Community Association Managers?

Licensed Community Association Managers (CAMs) are also subject to ethical standards.

Managers are expected to disclose conflicts of interest and are prohibited from participating in unlawful kickback arrangements. Violations can result in disciplinary action and, depending on the circumstances, additional legal consequences.

The key issues are transparency, disclosure, and whether the payment creates a prohibited conflict of interest.

Potential Consequences
Violations of Florida condominium law can lead to:

• Removal from office.
• Civil penalties.
• Administrative discipline.
• In certain circumstances, criminal prosecution, including felony charges involving unlawful kickbacks.

Why It Matters

Condominium associations manage millions of dollars in homeowner assessments every year.

Florida's ethics and conflict-of-interest laws exist to protect unit owners by promoting transparency, accountability, and public confidence in how those funds are managed.

Residents who have questions about potential conflicts or undisclosed financial relationships may wish to review their association's records or seek guidance from the appropriate regulatory or legal authorities.

Snapper Village Townhouses do NOT have statutory reserves. 🚫

I still see listings stating they do, and that misinformation can create serious problems for buyers, sellers, and Realtors.

After 23 years listing, selling, renting and managing properties every single year in Snapper Village, I often receive calls from agents -before and after listing- asking questions but the most common became whether the townhouses have reserves because their sellers believe they do.

The conversation often goes like this:
💬 “My seller told me the association has reserves.”
💬 “My seller told me the budget includes reserves.”

The answer is NO, Snapper Village townhouses do not have reserves.

Here’s the source of the confusion:

🔸 Recent Florida legislation made fully funded structural reserves mandatory for condominiums 3 stories and taller. As a result, The Atriums at Snapper Village (our three 4-story buildings that completed their 40-year certification in 2025) began funding statutory reserves.

🔸 Although all 783 homeowners contribute through one association budget, those statutory reserves apply only to The Atriums, not to the townhouses.

Important: All Snapper Village buildings are up to date with 40-year and 50-year MDC re-certifications.

I’m sharing this to help , buyers, and Realtors avoid COSTLY misunderstandings—especially now that Snapper Village is currently ineligible for conventional financing through Fannie Mae.

For more detailed explanation, click the link below👇🏼 or call me (305) 793-1994 I hope it helps clarify this unique situation.🙏🏼

MYTH Important Information for Homeowners, Buyers & REALTORS® 🚨 Snapper Village Townhouses HAVE reserves FALSE!

Next time a property manager says, "She has tried reaching out to Fannie Mae in the past (I believe sometime in the last year), and they would not accept any information from her directly, even as a representative of the condominium (?!!!) and that she has been searching for different avenues to get information to them since then.".....I'll respond it took me 1 minute to find this free on-line tool created to HELP associations understand their condo conditions standing compared to Fannie Mae requirements.

Property Managers (CAM), Board Members and their advisors can:
✅ Check in real time if Fannie Mae is aware of any project conditions that render your project INELEGIBLE.
✅Proactively identify issues and hurdles to financing
✅Connect with Fannie Mae to answer their questions

Fannie Mae's Condo Status Finder
http://singlefamily.fanniemae.com/condo-status-finder

Note: The subject was kindly discussed with some board members between April 28 and May 3rd. I followed up by June 19th, and I was informed Snapper Village isn't flagged for "critical repairs" anymore, but we are still not eligible for any financing through Fannie Mae (whether via full or limited review) due to our lack of reserves.

👉Financing affects every homeowner, not only those that decide to sell. It does affect buyers demand and property values.

The longer condos are ineligible for conventional financing, the longer the pool of buyers is drastically reduced and the longer your properties are less marketable, so it is worth understanding where your property stands BEFORE you list your unit or before you make any decisions that will include selling your property.

I confirmed the few sales we had this year have been cash or with 30-40% down payment. Mainly non-conforming financing.

Beginning August 3rd, 2026, condo financing will require a "Full Review" regardless of down payment. The "Limited Review" option will be eliminated. The condominium financial status is already part of the underwriter decision, not only the buyer's credit score and substantial down payment.

Beginning January 4th, 2027, reserve funding requirements will go up from 10% to 15%.

For more information, please contact me:

Ana Farje-Tyler Keller Williams Realty.
(305) 793-1994
[email protected]

Celebrate all weekend and show your love for AMERICA! 🇺🇸🙏🏼❤️
Happy Independence Day to all! 🥰🎇🎆🌠🎉