North Carolina HOA fees at Magnolia Cove in Sherrills Ford are set to double to $2,500 monthly on January 1, 2027. The homeowners association approved the increase after considering a much higher proposal. Residents say the new charge threatens household budgets, while the board cites litigation expenses and overdue assessments. State law outlines homeowners’ rights and collection procedures. Key Takeaways Magnolia Cove’s board voted October 26 to increase monthly dues from $1,250 to $2,500 The approved rate would raise regular annual charges by $15,000, to $30,000 A previous budget proposal called for $7,500 a month, or $90,000 annually The association cites legal expenses and unpaid assessments as reasons for the increase North Carolina law sets requirements for budget review, liens, and financial records For residents of the Catawba County neighborhood, the monthly assessment is a recurring expense on top of mortgages, insurance, and property taxes. Homeowners interviewed by WSOC-TV expressed
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U.S. home prices rose 2.1% year over year in August 2026, according to the latest S&P Cotality Case-Shiller Index, but major cities moved in sharply
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U.S. commercial and multifamily mortgage debt increased by $42.9 billion in the second quarter of 2026, bringing the total outstanding balance to approximately $5.1 trillion, according to the Mortgage
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