How do you identify a PUD

[J Grant]

PUD is a planning and zoning term, however for res appraisal purposes, relating to whether a subject community is a PUD, it is mandatory HOA dues paid to HOA association that makes the subject community a PUD. There may or may not be any common areas , sometimes the HOA dues is just for services .

 

[Oh No Not Him]

Ok..but why do I find some deeds for other properties in other areas that say "a planned unit development"...and this one doesnt? Also, what does P.R.U.D mean? Residential?

 

[Vermonter]

Ok..but why do I find some deeds for other properties in other areas that say "a planned unit development"...and this one doesnt? Also, what does P.R.U.D mean? Residential?

How old is the development? They didn't start using the "Planned Unit Development" term here until the early to mid 90s. Before that it was mainly "subdivision" or "development". Is there any mention of a management association or corporation?

 

[Mike Kennedy]

Ok..but why do I find some deeds for other properties in other areas that say "a planned unit development"...and this one doesnt? Also, what does P.R.U.D mean? Residential?

EXAMPLE ONLY:
Source: City of Portland, ME Zoning Ordinance

"Sec. 14-87. Permitted uses.
The following uses are permitted in the R-3 residential zone:
(a) Residential:
1. Single-family detached dwellings.
2. Planned residential unit development (PRUD) consisting of horizontally attached dwelling units or a series of such
dwelling units.No dimensional requirements contained in
section 14-90 shall apply with respect to such
development, except for those requirements specifically
denoted for PRUD. There shall be no open outside
stairways or fire escapes above the ground floor. All
land shall be owned and used in common and shall be
governed and maintained as set forth in section
14-498(i)(3) of article IV (subdivisions) of this
chapter. Such development shall be subject to review and
approval by the Planning Board..."

Check your subject's governing municipality's ordinance - it may be the same or similar to the one above - or different. :laugh:

 

[Oh No Not Him]

Thanks Mike..but thats the strange part...they arent attached...detached sf homes built in mid 90's on their own lots. Assoc for private rd & small peice of common land with a gazebo & small manmade pond. Deed doesnt say "planned unit development" like so many Ive seen in other projects, but the original "plan" (showing subdivision & all lots) is marked P.R.U.D.

 

[Jo Ann Meyer Stratton]

The next time Fannie and Freddie change their forms they need to change the top par of the form since every one get so confused. They need to have a statement like: Is there a mandatory HOA fee? Yes No If yes what is the amount Monthly Quarterly Annual and that is it.

That is what that section is asking but so many get so tired in knots about the letters PUD they get throughly confused.

Zoning, deed restrictions, etc, etc, have absolutely nothing to with the questions at the top of the form. Is there a private monetary issue that could cloud the title is all they want to know at the top of the form.

Legal issues are addressed in the site section.

Private restrictions--top of the form

Public restrictions--site section

 

[PropertyEconomics]

Not all PUDs are attached ... many have private streets, parks, common areas, etc.. they are simply that .. a Planned Unit Development ... it doesnt mean they are attached.

 

[Terrel L. Shields]

PUD is a development in which there is a mandatory home owners association with dues.

My understanding of PUD was that there are common areas (pools, parks, tennis, maybe even access to golfing, etc.) but the ownership includes only the footprint of the house (attached or not) and there is a HOA fee. There are a lot of simple residential subdivisions with HOA fees. I can think of one where the "fee" is nothing more than water and trash service at a big dumpster.

 

[Pilgrum]

It is interesting that the GSEs don't care if it's Zoned or developed as a PUD. If there is an HAO they want you to mark the form as PUD. Mark the box and explain. Move on.

 

[QWERTY Pi]

I can't post links b/c I'm a Newbie, but do web Search for "Appraisal Scoop - Planned Unit Development (PUD) - Appraiser vs Underwriter". The article I note above is dated August 20th, 2006.

The piece may help answer some of your questions w/ respect to PUDs.