Inside Olive Grove

August 2026 Community Market Update

Read Summer 2026 Update Here

What’s Happening Now?

Since the last update, one unit has closed escrow — and the buyer fits the profile we identified as an important target market for Olive Grove: an owner-occupant.

Two units have also gone under contract. The final sale price and closing date are still to be determined, but the activity is encouraging. It reinforces that when a property is priced, positioned and marketed effectively, buyers are responding.

Units 1001, 2005 and 2033 have adjusted their asking prices, with the largest reductions occurring in the second-floor two-bedroom units. Those homes originally entered the market at $214,900 and $199,000 and are now listed at $174,900 and $164,900 after more than six months on the market.

These reductions also illustrate why pricing strategy matters from day one. A home that misses the right price early can spend months chasing the market through a series of price reductions. If a unit hasn't sold in a few months, then a price re-evaluation is a smart move.

Seven units remain on the market for sale:

A Condo Lending Change Worth Watching

New Fannie Mae and Freddie Mac rules are putting more scrutiny on condominium associations.

Beginning August 3, 2026, streamlined condo review options were largely eliminated. Lenders may now need to look more closely at items such as the HOA budget, reserves, insurance and overall financial health.

Reserve requirements are also tightening. Beginning January 4, 2027, Fannie Mae’s standard reserve contribution requirement for Full Reviews increases from 10% to 15% of annual budgeted assessment income.

If an association relies on a reserve study instead, reserve funding generally must follow the study’s highest recommended level rather than a baseline funding approach. Reserve studies must be less than 3 years old.

Why Does This Matter to Olive Grove Owners?

Because when someone buys a condo, the lender is evaluating both the buyer and the community.

If financing becomes difficult, the pool of potential buyers can shrink — which can affect market time, negotiating leverage and ultimately property values. Cash buyers in today's market expect a discount and strong HOA financials.

A financially healthy association can directly affect the marketability of every unit in the community.

Olive Grove’s most recent reserve study was completed in 2018, so this is an issue worth watching as the new lending standards take effect.

Have a Neighbor, Friend or Family Member Who Could Use Real Estate Advice?
I’d love the introduction. I’m happy to help them understand their options, make a smart plan and determine the best strategy for their move.

Thinking About Selling?

Getting the highest price isn't just about choosing a listing price. It is also about positioning and marketing the property to the right buyer.

For Olive Grove, that can mean reaching owner-occupants who value the community and are looking for the right home — not simply buyers looking for the lowest-priced condo.

Let’s look at how your unit could be positioned, priced and marketed to attract the buyers most likely to value what Olive Grove offers.