The Prescott and Prescott Valley real estate markets are obviously very volatile in the current economy. This fact needs to be considered when you are in the process of selling a condo, townhome or patio home and setting your desired price.
Most sellers hope to get the transaction finalized at their asking price, but depending [...]
What is the difference between a condo and a townhome?
The difference in these types of homes primarily resides in the legal definition of ownership. In a condominium you own the air space within your walls while a townhome includes ownership of the land beneath your unit and the vertical airspace above. In layman’s terms, a [...]
Airspace: That space in a condominium complex, which belongs to a unit owner. It is the area contained in a unit from floor-to-ceiling and wall-to-wall, measured from “paint-to-paint”, not allowing for thickness of walls, etc. The walls, which divide one unit from another, are “common elements”.
Amenities: The grounds of a Condo or Townhome development may [...]
To meet the growing homeownership demand and offer an alternative to single-family homes during the recent housing boom, there was vast growth in apartment complexes converted into condominiums. With a cooling housing market and tighter credit environment, condominium unit sales have lagged and there is an excess of unsold condominiums in many markets.
To sell [...]
