HOA fees are monthly or annual charges that cover the costs of maintaining and improving shared spaces. HOA fees are common within condos and some single-family home neighborhoods. Co-ops also have monthly fees (Common Charges and Maintenance Fees), which may also include real estate taxes and a portion of the building's underlying mortgage.
In a buyer's market, there is an overabundance of homes for sale compared to the demand. Buyers have the advantage because sellers will be motivated to negotiate price and terns in order to sell their property.