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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 [...] |
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