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Estate

The spring housing market ramps up

March is typically the start of the spring homebuying and selling season. With growing economic uncertainty and declining consumer confidence, it was reasonable to opine on whether homebuyers and sellers would hold back. However, March data on home sales activity in the Bright MLS service area suggests that there is still strong demand from committed buyers in the marketplace.

In March, a total of 22,021 homes went under contract in the Bright MLS

service area, which reflects an uptick of 2.8% over a year ago. More importantly, however, was the surge in pending sales activity between February and March, with the number of new pending sales increasing by 39.5%. This month-tomonth increase is very similar to what we see in the lead-in to a typical spring housing market.

Showings are also on the rise, as more prospective homebuyers are reaching out to real estate agents to tour homes. In March, there were 442,672 home

showings across the Bright MLS service area. While showing activity is down slightly from last March, the number of showings surged by 39.5% between February and March. These monthto-month increases in new pending sales and showings are indicators that typically signal the beginning of the spring homebuying season. Buyers have been enticed into the market by declining mortgage rates, as well as more inventory available on the market. In March, there were

24,654 new listings that came onto the market across the Bright MLS service area which is a 12.6% increase over March 2024 new listings. Compared to February, the number of new listings was up 38.5%. Looking back historically, this is a typical month-to-month increase in listing activity that precedes the spring homebuying season. Prices are still on the rise across the Bright MLS service area, though with more inventory coming onto the market, the pace of home price appreciation has slowed in many markets. In March, the median sold price in the Bright MLS service area was $410,000, which was up 4.1% year-over-year. This is the slowest pace of home price appreciation since July 2023. It is still too soon to tell whether the spring housing market will blossom or stay dormant a little longer. “Falling mortgage rates could give the housing market a boost this spring,” according to Lisa Sturtevant, PhD, chief economist at Bright MLS. “But weakening economic

The best metro areas to buy — and sell — a home this spring

Homebuyers have more opportunities this spring than they have had in years. They have more options: more than 1 million homes were for sale nationwide in February — the most for that month since before the pandemic. Affordability is improving: Mortgage rates are the lowest they have been this year, and home values are not rising rapidly. Buyers now have more time to make a decision; it takes more than three weeks for the typical home to go under contract. It is even better for buyers in certain parts of the country. A larger share of sellers are dropping their prices, and buyers have the bargaining power to land an even better deal. Yet there are other places where sellers still have the upper hand. Homes in these areas are flying off the market in as little as seven days, and bidding wars are pushing sale prices well above asking price.

“While affordability remains incredibly challenging, the housing market is improving for buyers nationally,” said Zillow Senior Economist Orphe Divounguy. “Some of the strongest buyers markets are in the Southeast, where builders have been able to keep up with demand. Sellers are still in the driver’s seat in the Northeast and in Northern California, where buyers are competing for the few homes that are available.”

This extreme mix of market conditions is making it hard for a buyer or seller to know what to expect. Zillow’s market heat index is a good starting point to help buyers, sellers and their agents get a feel for how negotiations might go in their metro area. Zillow has analyzed key data points to identify the five best metro areas to buy a home — and the

five best major metros to sell a home — this spring.

BEST METRO AREAS FOR BUYERS

Miami, Fla.

Homes in Miami take nearly three times longer to sell than they do nationally, meaning buyers can take their time and make sure a home is the right fit for them over the long term. As listings linger,sellers are more likely to drop their price. Nearly one-quarter of all homes for sale in Miami received a price cut in February.

Key data points:

Median days on market: 60

Share of listings with a price cut: 24.2%

New Orleans, La.

Buyers looking for vibrant culture and a city with a rich history will find the most for-sale options in the Big Easy. There are significantly more homes on the market today than there were prior to the pandemic and 11% more homes for sale than last year. There is no rush to buy in NOLA ; homes stay on the market for almost two months before going under contract.

Key data points:

Inventory: Up 42% from pre-pandemic levels, and up 11.4% from last year

Median days on market: 58

Jacksonville, Tenn.

Buyers will find a winning combination of affordability and options in Jacksonville. There are 26%more homes on the market this year compared to last year. Buyers may also be able to snag a deal; nearly 30% of

sellers dropped their asking price.

Key data points:

Inventory: Up 26.3% year over year

Share of listings with a price cut: 28.8%

Tampa, Fla.

Looking for discounts? Nearly one-third of all for-sale listings in Tampa took a price cut. Plus,home values are down 3.6% from last year, making it slightly more affordable for buyers to get their foot in the door to homeownership. Those buyers also have more for-sale homes to choose from. Inventory is about 20% higher than it was a year ago.

Key data points: Inventory: Up 19.8% year over year

Share of listings with a price cut: 31.9%

Zillow Home Value Index: Down 3.6% year over year

Memphis, Tenn.

Come for the live music, stay for the affordability. On a monthly basis, it costs less to own than to rent in Memphis. The typical monthly mortgage payment in Memphis is about $1,200, while typical rents are more than $1,400. Plus, buyers have nearly a month to decide on a home before it goes under contract.

Key data points: Typical monthly mortgage payment

(20% down, 30-year fixed): $1,228

Zillow Observed Rent Index: $1,418

Median days on market: 29

BEST METRO AREAS FOR SELLERS

Buffalo, N.Y.

Buffalo is living up to its title as Zillow’s hottest market of 2025.

A strong job market has fueled competition for homes, particularly from first-time buyers looking to put down roots in upstate New York. Most sellers find a buyer in 12 days or less, and many have a bidding war. More than half of all listings sell above their list price.

Key data points:

Median days on market: 12

Share of listings sold above list price: 56%

Zillow Home Value Index change: Up 5% year over year

San Jose, Calif. The most expensive large metro area in the country is getting even pricier. Home values in San Jose are up 7.6% compared to a year ago, and nearly 60% of homes are selling for more than their list price. That is a strong signal that buyers are competing for homes, and they are snapping up properties just nine days after they hit the market.

Key data points:

Share of listings sold above list price: 57.1%

Median days on market: 9

Zillow Home Value Index change: Up 7.6% year over year

San Francisco, Calif.

Sellers are in great shape all across the Bay Area, but they will have a bit more competition in San Francisco than in neighboring San Jose. There are 32.5% more for-sale listings this year compared to last year, yet 44% of all homes are selling for more than the asking price.

Key data points:

conditions, more uncertainty, and growing consumer anxiety could have a dampening effect on the market.”

It is too soon to tell whether the market is truly shifting to a balanced or even to a buyer’s market. In March, the typical home took 12 days to go under contracts. The March median days on market was two days slower than a year ago but is seven days quicker than February. Overall inventory is up 27.6% year-over-year, but there is still less than two months of supply in the Bright MLS service area. (Between four and six months of supply is typically considered a balanced housing market.) With more inventory and slightly lower rates, buyers are entering the market this spring with more leverage than they have had in years. Whether the housing market continues to be resilient over the next few months depends largely on the direction of the economy.

PHILADELPHIA:

More inventory and lower rates brought out homebuyers in the Philadelphia area market

• There were 6,535 new pending sales in March, which was up 4.5% compared to a year ago. New pending sales also surged 41.1% between February and March, a typical trend leading into the spring market.

• The number of new listings coming onto the market was up 9.7%

year-over-year and rose by 33.0% between February and March. While the increase in new listing activity is good news for buyers, supply is still low by historic standards. At the end of March, the number of active listings was still less than half of what it was in 2019. The median sold price in March was $368,000, increasing by 5.1% year-over-year.

• Overall, the outlook for the Philadelphia housing market is upbeat heading into spring. There are headwinds in the market, however. Weaker economic conditions, a declining stock market, and growing consumer anxiety could dampen spring activity in parts of the Philadelphia area housing market.

BALTIMORE: Active buyers in the Baltimore metro area in March

• There were 3,092 new pending sales in March across the Baltimore metro area, which was up 1.2% compared to last March and surged by 34.5% between February and March. The strong month-to-month uptick in contract activity typifies the start of the spring homebuying season.

• In March, the number of new listings was 10.6% higher than a year ago. New listing activity was also up by 37.9% between February and March.

• Home prices are still rising in the Baltimore metro area, with the median sold price in March up 2.7% compared to a year ago.

• Despite economic headwinds, the spring homebuying season is kicking off relatively strongly in the Baltimore metro area. Looking ahead, rates will continue to fall but overall economic conditions are also weakening. Buyers who remain in the market will have more leverage and home price growth likely will slow this spring in some local markets.

WASHINGTON, D.C.:

Surge in new listings accompanied by strong buyer activity in the Washington, D.C. metro area

• A total of 5,925 new listings came onto the market across the Washington, D.C. region in March. Listings were up 19.2% year-overyear and surged 44.5% between February and March.

• In March, there were 4,952 new pending contracts in the Washington, D.C. region, up 3.2% compared to a year ago and an increase of 42.1% over February.

• In March, the median sold price was $625,000, up 4.2%, the slowest year-over-year price gain since October 2023.Heading into the spring market, the Washington, D.C. area housing market is likely to be softer than other markets as the impacts of DOGE are absorbed into the economy.

The full report is

Share of listings sold above list price: 44.4%

Inventory: Up 32.5% year over year

Hartford, Conn.

Hartford sellers had better be ready to move. Homes in the insurance capital of the world are flying off the market in just seven days. That is more than two weeks faster than homes selling nationally. Buyers act quickly because there are not many homes on the market. There were 71% fewer listings this February than there were before the pandemic. As a result, home values have climbed more than 57% in that time and risen 5.6% in the past year.

Key data points: Median days on market: 7 Inventory: Down 71.0% from prepandemic levels

Zillow Home Value Index change: Up 5.6% year over year

Boston, Mass.

Bidding wars are common in Beantown. Multiple offers mean that two in five sellers can expect to sell their home for more than their list price. That is one reason why home values are appreciating twice as fast in the Boston metro area as they are nationally. Homeowners can expect a speedy sale, too: just eight days from listing to pending.

Key data points: Median days on market: 8 Share of listings sold above list price: 40.4%

Zillow Home Value Index change: 4.2% year over year 

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Report pinpoints ‘joy scores’ for key remodeling projects

Top remodeling projects for homeowner satisfaction and cost recovery continue to vary as individuals remodel their homes for diverse reasons, according to the National Association of Realtors and National Association of the Remodeling Industry’s 2025 Remodeling Impact Report.

The report assesses the reasons homeowners undertake remodeling projects, the outcomes of these projects and the increased happiness experienced in the home once a project is completed. This year’s report features a significantly different structure compared to prior editions, with expanded sections about Realtors and consumers.

Americans spent an estimated $603 billion on home remodeling projects in 2024, according to Improving America’s Housing 2025, Joint Center for Housing Studies at Harvard University, 2025. According to the report, the remodeling projects that received the highest Joy Scores — a ranking from one to 10 based on the happiness homeowners reported upon completion — include the addition of a primary bedroom suite (10), a kitchen upgrade (10), and new roofing (10). In contrast, the remodeling projects with the highest cost recovery — as estimated by members of NARI — include a new steel front door (100%), closet renovation (83%), and new fiberglass front door (80%).

“Homeowners undertake remodeling projects for numerous reasons, but what remains intriguing is the disparity between the joy experienced postremodel and the actual cost recovery,” said Jessica Lautz, NAR deputy chief economist and vice president of research. “While homeowners take pride in seeing their personal tastes and design choices come to life, Realtors may recommend different strategies to enhance the property’s resale value.”

The top remodeling projects that Realtors recommend sellers complete before listing their homes include painting the entire home (50%), painting a single interior room (41%), and installing new roofing (37%). Additionally, the projects for which

Realtors have observed the highest increase in demand are a kitchen upgrade (48%), new roofing (43%), and a bathroom renovation (35%).

When consumers remodel their homes, the primary reasons include upgrading worn-out surfaces, finishes

and materials (27%); improving energy efficiency (19%); desiring a change (18%); and preparing to sell within the next two years (18%).

“This report demonstrates that demand for remodeling remains robust, with 42% of NARI members experiencing an increase in contracting projects and 57% observing larger project scopes over the past two years,” said NARI President Jason Hensler. “Homeowners are discovering significant value and joy in these investments — from smaller upgrades, such as front doors and windows, to major renovations like kitchens and primary suites.”

While housing affordability and rising mortgage rates have been considered potential motivators for home remodeling, most consumers (89%) reported that housing affordability was not a deciding factor in their decisions to remodel. However, for a smaller segment of consumers (9%), housing affordability did serve as a motivating factor for undertaking remodeling projects.

To finance their remodeling projects, consumers primarily relied on home equity loans or lines of credit (54%), savings (29%), and credit cards (10%).

“Interestingly, despite the lock-in effect — where low-interest-rate mortgages discourage homeowners from moving — housing affordability isn’t a significant reason why consumers choose to remodel their homes,” added Lautz. “Instead, the substantial housing equity that homeowners have built up over time enables them to invest in transforming their homes while they remain in place.” Homeowners report that the most important outcomes from remodeling projects are improved functionality and livability (28%); durable and long-lasting results, materials and appliances (23%); and enhanced beauty and aesthetics (23%). Following their remodeling projects, 64% of homeowners expressed a greater desire to be in their homes, while 46% reported increased enjoyment of their living spaces. If cost were not a factor, 92% of consumers indicated they would choose to remodel additional areas of

GLOBE NEWSWIRE

80904

80905

80906

• 1239 Burnham St. $260,000

• 1409 Willshire Drive $289,719

80907

80908

• 449 Loomis Ave. $135,000

• 129 Widefield Blvd. $226,000

• 6938 Dusty

$500,000

• 8358 Niarada Way $650,000

• 8258 Willey Picket Drive

$732,588

$844,717

• 7220 McShane

$1,485,000

80909

• 2571 E. San Miguel St. $340,000

• 602

• 2032 Alpine Drive $435,000

• 2841 Marilyn Road $600,000

80910

• 411 Lakewood Circle, Apt. A-1105 $119,680

• 411 Lakewood Circle, Apt. C-704 $136,250

• 3115 Hudson St. $390,000

80911

• 77 Steven Drive $215,000

• 4825 Elm Grove Drive

$275,000

• 58 Otowi Drive $294,000

• 73 Easy St. $315,000

• 704 Birch Drive $345,000

• 406 Grand Blvd. $348,500

• 7425 Goldfield Drive $365,000

• 4945 Justeagen Drive $450,000

• 6349 Dancing Moon Way $465,000

• 6215 Dancing Star Way $477,000

• 6251 Marilee Way $510,000

• 3638 Spitfire Drive $601,000

80915

• 7052 Preble Drive $02,700

• 1625 N. Murray Blvd., Apt. 141 $150,000

• 4412 E. San Miguel St. $333,000

• 1320 Shadberry Court $349,000

• 6658 Noble St. $359,900

• 6440 Lonsdale Drive

$399,000

• 2535 Shalimar Drive $587,525

• 875 Hathaway Drive $640,500

80916

• 4825 Astrozon Blvd., Lot 204-b $15,000

• 3280 S. Academy Blvd., Lot 161 $25,000

• 205 N. Murray Blvd., #66

$79,995

• 205 N. Murray Blvd., Lot 214

$165,000

• 4974 Leland Point $255,000

• 3290 Thunderchief Heights

$300,000

• 5367 Blair View $303,000

• 4170 London Lane $335,000

• 4260 Brightside Court

$365,000

• 4465 N. Wordsworth Circle

$372,000

• 2913 Dickens Drive $393,000

• 4737 Tetman Lane $395,000

80917

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• 3435 Rebecca Lane, Apt. A

$193,000

• 3060 Mandalay Grove, Unit 4

$330,000

• 4418 Hopeful Way $419,725

• 4888 S Old Brook Circle

$422,750

• 5033 Harvest Road $445,000

• 3949 Iron Horse Trail

$453,000

80918

• 2220 Palm Drive $279,500

• 5478 E. Descanso Circle

$311,000

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$400,000

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$400,000

• 5210 Redondo Circle

$409,900

• 3270 Leoti Drive $415,000

• 2512 Garden Way $437,000

• 2234 Ptarmigan Lane

$440,000

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80919

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$147,000

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$151,500

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$425,000

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$529,900

• 1650 Manning Way $575,000

• 7635 Hollandale Drive

$617,500

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$620,000

• 7127 Wintery Loop $740,000

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$900,000

80920

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$430,000

• 8010 Camfield Circle

$495,000

• 8240 Timothy Court $515,000

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$625,000

• 3530 Hollycrest Drive

$650,000

• 3725 Palazzo Grove $865,000

80921

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$130,000

• 735 Valley Road $370,000

• 1779 Capital Drive $396,831

• 11253 Modern Meadow Loop $475,000

• 1965 Clayhouse Drive

$800,000

• 1750 Stella Drive $1,580,000

80922

• 3767 Levy Park Drive

$345,000

• 7634 Vallhalla Drive $397,500

• 3677 Levy Park Drive

$410,000

• 7036 Cattle Drive $430,000

• 3683 Reindeer Circle

$435,000

• 5125 Purcell Drive $445,000

80923

80926

80927

How to prepare outdoor spaces for Memorial Day

to use, addressing any issues before guests come over for a Memorial Day weekend gathering. Wash cushions for outdoor furniture and replace any that might be showing their age.

Clean the grill

early winter before items were moved into the garage or placed in storage. Check to make sure furnishings are still safe

A thorough cleaning of the grill also is in order prior to summer entertaining season. Many homeowners do little or no grilling during winter, so now is the time to give grilling surfaces and the interior of the grill a deep cleaning. Check for leaks if using a gas grill and scrub the interior of any grease that accumulated last season. Many grilling experts advise lighting a grill and letting it burn for roughly 20 minutes prior

Home price increases slowed for the third consecutive month in March

Homes.com, a CoStar Group leading online residential marketplace, recently released a new report analyzing home prices in March (based on the data collected to date), price trends across major cities, and what the latest developments in the housing market mean for homebuyers. Homes.com National

According to the preliminary estimates, home prices continued to go up in March, but the rate of price increases slowed for the third consecutive month. Year-over-year, prices rose 2.2% in March, 2.7% in February, and 3.6% in January. In dollar terms, the

median home price went up $8,000 from March of last year to March of this year, rising from $372,000 to $380,000. Prices have increased for 21 consecutive months, with price appreciation peaking at 5.6% in December.

In addition to the slowing price growth in recent months, there was an increase in the number of homes for sale and a small decline in mortgage rates in March. Lower mortgage rates make buying a home more affordable, and more homes for sale equates to higher leverage for homebuyers. Combined, these factors point to a slight shift away from a seller’s market and towards a buyer's market.

The Northeast and Midwest continued to see the strongest price appreciation in March. Of the 10 markets with the largest price increases, four were in the Northeast, and four were in the Midwest. Cleveland led the way, with prices rising more than 10% in the past year, followed by Chicago, New York and Pittsburgh. By contrast, the South only had one market, Austin, Texas, among the 10 cities with the largest price increases, while five Southern markets were among the bottom 10. Four markets saw price declines in March, with the state of Florida accounting for three of the four. The four markets with declines were Orlando, Jacksonville, San Francisco and Tampa. 

fee with your Response. The Response form (JDF 1315) can be found at www.courts.state. co.us by clicking on the “Self Help/Forms” tab.

You are hereby summoned to appear for a hearing in Division Y. of the District Court or Denver Juvenile Court, at the above address, on May 9, 2025, at 9:00am, at which time an Order may be entered requiring you to pay support and other costs asked for in the Petition, a copy of which is attached.

Notice: Colorado Revised Statutes §19-4105.5, provides that upon personal service of the Petition and Summons on the Respondent, or upon waiver and acceptance of service by the Respondent, an automatic temporary injunction shall be in effect against both parties for 120 days after its effective date, unless all parties consent to a modification of the temporary injunction. Either party may apply to the Court to modify the length of time the temporary injunction is in effect.

You are hereby advised that, pursuant to state statute §19-4-105.5, C.R.S., this request for genetic tests shall not prejudice the requesting party in matters concerning allocation of parental responsibilities pursuant to §14-10- 124(1.5), C.R.S. If genetic tests are not obtained prior to a legal establishment of paternity and submitted into evidence prior to

to putting any foods on the grates for the first time. Such a strategy allows residual fluids like soap, vinegar and degreasing products used when cleaning the grill to burn off before food is placed on the grates.

Inspect the landscaping

It is not just seating areas like patios and decks that need some investigation prior to outdoor entertaining season. Take a walk around the landscape and make sure there is no potentially dangerous spots where people could be injured when playing backyard games. Fill in any holes with soil and fresh grass seed and inspect trees to see if any branches need to be pruned.

Name Change

55+ Housing market sees significant year-over-year shifts

The 55+ housing market continues to evolve, with notable shifts in inventory levels, sales activity and pricing trends. According to a new analysis by 55places.com, the nation’s leading resource for active adult communities, the past year has brought both opportunities and challenges for buyers and sellers in the 55+ real estate sector.

Key takeaways from the 55places.com report:

• Rising Inventory in key 55+ markets: Florida remains the most impacted state, with significant inventory growth in Southeast Florida (MOI: 14 months) and the Ft. MyersNaples (MOI: 10.2 months) region. Knoxville, Tenn., has also seen a notable increase, doubling its active listings over the past year.

• Surge in closings across select markets: Southern Pines, N.C., saw a 66.7% increase in closings, while California’s Bay Area experienced a 41.7% spike in sales activity.

• Price declines create buyer opportunities: Markets like Austin, Texas (-16.3%) and Denver (-14%) have seen the steepest price drops in the 55+ market, making them more affordable options for retirees.

• Florida’s market shows mixed trends: While some regions like Southeast Florida saw both an inventory surplus and price declines (-11.2%), other parts of the state, such as Tampa and Central Florida, remained relatively stable.

Market insights: What this means for buyers and sellers

• For buyers: Prospective homeowners should look to markets experiencing price declines and high inventory levels, such as Southeast Florida, Knoxville, Tenn. and Denver. These areas offer increased negotiating power and more housing options.

• For sellers: Those in competitive markets, such as Boston and Chicago, should anticipate higher demand and faster sales, while those in

oversaturated areas should focus on strategic pricing and property enhancements to attract buyers.

“With inventory increasing in some areas and sales surging in others, it’s clear that the 55+ housing market remains dynamic,” said Bill Ness, CEO and founder of 55places.com. “Understanding these trends is essential for making informed decisions.”

Methodology

55places.com analyzed data from over 70 Multiple Listing Services covering home sales from 2024 to 2025 across more than 2,500 active adult communities. The study focused on both age-restricted and agetargeted communities designed for 55+ residents. Metrics such as inventory levels, closing activity, and price trends were aggregated to provide a comprehensive market overview. The analysis excludes private sales and new construction homes sold directly by builders. 

Can co-op board force us to install free-standing AC?

Q: I live in a 16-unit co-op with a water-cooled air conditioner that runs throughout the building. My unit and one other are still on the system. The Board told us that when the pump goes out, we must add a free-standing air conditioner. Does the Board have the authority to do this and not maintain the system? —

A: While condominiums and cooperatives often look similar from the outside, their ownership structure and management differ significantly.

Legally, a condo owner owns their unit directly and has a proportional interest in common areas. In contrast, a co-op owner holds shares in the corporation that owns the building, along with a proprietary lease granting them the sole right to occupy a specific unit. In the realm of cooperative housing, the board holds significant sway over the management and maintenance of shared amenities, such as a watercooled air conditioning system. This authority, however, is not without its checks and balances. The cooperative’s governing docu -

ments guide the board’s decisions, outlining specific responsibilities and limitations. Whether your board can discontinue maintenance hinges on the co-op’s governing documents and the approval of any change by the requisite voting interests.

A shared water-cooled air conditioning system is typically classified as a common amenity, and its maintenance generally falls to the association unless the governing documents assign this duty to individual unit owners.

As long as the documents do not expressly forbid it, the board likely

possesses the authority to discontinue maintenance of the shared air conditioning system and mandate the installation of free-standing units, provided these actions adhere to the governing documents and receive the necessary approvals.

That said, the board must also ensure its actions are reasonable and do not unfairly burden the affected unit owners. With this in mind, you should ask the board if they are willing to share the cost of replacing the common AC with your new individual unit.

Gary M. Singer is a Florida attorney and board-certified as an expert in real estate law by the Florida Bar. He practices real estate, business litigation and contract law from his office in Sunrise, Fla. He is the chairman of the Real Estate Section of the Broward County Bar Association and is a co-host of the weekly radio show Legal News and Review. He frequently consults on general real estate matters and trends in Florida with various companies across the nation. Follow him on Twitter @GarySingerLaw.

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