Prescott Arizona Condo News » Condo Wiki

Prescott and Prescott Valley condo owners pricing homes too high

Patrick — Fri, 27 Feb 2009 13:41:32 +0000

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 [...]

Condo and Townhome FAQ

Patrick — Thu, 18 Dec 2008 22:11:49 +0000

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 [...]

Condo and Townhome Glossary

Patrick — Tue, 18 Nov 2008 21:51:20 +0000

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 [...]

Emerging fraud trends: condominium conversion loan scams

Patrick — Sat, 31 May 2008 20:51:56 +0000

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 [...]