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Ask a real estate pro: What happens if I can’t afford to pay ‘huge’ condo assessment?

Ask a real estate pro: What happens if I can’t afford to pay ‘huge’ condo assessment?

Q: Our condo board just passed a huge special assessment to fix the roof. I live on a fixed income and cannot afford to pay it. Is there anything I can do? — Ruth Ann

A: Special assessments can be a financial challenge for condominium owners, especially when they come unexpectedly.

These assessments are typically levied when the association’s reserve funds are insufficient to cover necessary repairs, upgrades, or other significant expenses.

While procedures for handling special assessments can vary depending on your condominium’s governing documents and state laws, the general principles are consistent.

All unit owners are required to pay the special assessment. When you purchased your condo, you agreed to follow your association’s rules, which include contributing to shared expenses.

If someone is unable to pay, the consequences can be severe. Associations rely on these funds to maintain the property, and unpaid assessments can lead to delays in critical projects, placing a financial strain on the entire community. read more

Leesburg commission backs massive Oak Ridge subdivision

Leesburg commission backs massive Oak Ridge subdivision

Leesburg city commissioners gave initial approval to the Oak Ridge development on Monday, part of one of the largest proposed projects in the city.

Oak Ridge is a planned 596-acre neighborhood, slated for 910 dwelling units, directly across from The Villages’ border along the east side of County Road 48.

The neighborhood is one of three that will be integrated into the Oak Ridge Community Development District, a 752-acre master-planned community by Dix Developments that will merge three subdivisions and generate up to 1,466 new homes once complete.

Developers are seeking to annex the subject property into Leesburg, amend the future land use designation from Lake County Rural to City of Leesburg Estate Residential and change the zoning from Lake County Agriculture to City of Leesburg PUD.

On July 31, the Leesburg Planning Commission recommended denial of the project by a 5-2 vote, citing concerns about water consumption, the disruption of nearby wetlands, density and the lack of childcare or education options. But commissioners decided 4-1 in favor of moving the project forward and transmitting the land use ordinance to state officials for approval. Commissioner Jay Connell was the sole ‘no’ vote, according to a report in GrowthSpotter. read more

Nvidia’s AI chip sales surged again in latest quarter, but worries about a tech bubble persist

Nvidia’s AI chip sales surged again in latest quarter, but worries about a tech bubble persist

By MICHAEL LIEDTKE, AP Technology Writer

SAN FRANCISCO (AP) — Nvidia’s sales of its artificial intelligence chipsets remained a hot commodity during the company’s latest quarter, but the demand wasn’t quite feverish enough to ease recent worries that the AI craze may be fading.

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The results announced Wednesday were hotly anticipated because Nvidia has emerged as key barometer of a two-year-old AI boom that has been propelling the stock market to new heights. The Silicon Valley chipmaker also became the first publicly traded company to achieve a $4 trillion market value. read more

Wall Street edges higher as the market awaits Nvidia’s quarterly report

Wall Street edges higher as the market awaits Nvidia’s quarterly report

By ALEX VEIGA, AP Business Writer

U.S. stocks edged higher in midday trading Wednesday ahead of a highly anticipated earnings update from computer chip giant Nvidia that may provide insights into the current state and future of artificial intelligence.

The S&P 500 was up 0.2%. The benchmark index remains near its record high set earlier this month. The Dow Jones Industrial Average rose 104 points, or 0.2%, as of 12:07 p.m. Eastern time. The Nasdaq composite rose 0.2%.

Gains in technology and financial companies helped outweigh declines in communication services, health care and other sectors.

Investors see Nvidia’s quarterly report, coming after the bell, as a barometer for the strength of the boom in artificial intelligence because the company makes most of the chips that power the technology. Its heavy weighting also gives Nvidia outsized influence as a bellwether for the broader market. Its shares were up 0.1%.

Cracker Barrel shares climbed 8.3% after the restaurant company scrapped plans to change its logo following an uproar on social media that even drew a comment from President Donald Trump. read more

Many Americans are stressed about money, 6 ways to cope

Many Americans are stressed about money, 6 ways to cope

By Daniel Lathrop, NerdWallet

About half of Americans (51%) say they regularly stress out about money, according to an April 2025 NerdWallet survey, conducted online by The Harris Poll.

That stress hits some groups of Americans harder than others. According to the survey, women are more likely to say they stress about money regularly than men (56% vs. 45%), and baby boomers (ages 61-79) are much less likely to stress about money than those in younger generations.

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Factors that could be making Americans feel off-kilter include inflation, uncertainty over tariff policy and high housing costs.

If you’re among those regularly stressed out about money, here are six large and small ways to improve your financial well-being.

1. Keep tabs on where your money is going

How much are your core monthly expenses? What is your discretionary income? How much money did you spend last month? Many Americans may not know the answers to these questions, which can make understanding their finances challenging. Facing your finances may be difficult if they’re a source of stress for you, but having a realistic view of your money is an essential first step to making improvements. read more