10 Questions to Ask Your Condo Board

By Sherri Lilienfeld, REALTOR® Associate

Before you buy, contact the condo board with the following questions. In the process, you’ll learn how responsive—and organized—its members are.

1. What percentage of units is owner-occupied? What percentage is tenant-occupied? Generally, the higher the percentage of owner-occupied units, the more marketable the units will be at resale.

2. What covenants, bylaws, and restrictions govern the property? What grandfather clauses are in place? You may find, for instance, that those who buy a property after a certain date can’t rent out their units, but buyers who bought earlier can. Ask for a copy of the bylaws to determine if you can live within them. And have an attorney review property docs, including the master deed, for you. Continue reading “10 Questions to Ask Your Condo Board”

Condo, Apartment And Townhouse Values Jumping At More Than Twice The Rate Of Detached Homes

By Realty Times Columnist Kenneth R. Harney

Condos are one of the fastest-appreciating form of real estate invesement in the United States today. Many retirees and empty-nesters are buying a luxury condo after downsizing and selling the family home, so the demand for condominiums is on the rise.  Sellers walk away with solid equity gains, and many of them take those dollars and purchase a higher-cost detached home or townhouse.  This moves the housing cycle along and translates into more sales, profits, and higher-cost segments in the marketplace.

Read more here.

Marriage Presents Real Estate Investment Opportunity

By Realty Times Staff Writer, M. Anthony Carr

In general, an average home owner will sell their home and never have to pay capital gains taxes on it.  If you own a property and are considering marriage, you’ll probably want to decide what the best option is for you:  should you sell and buy a new home or should you keep this property to rent out?

With the idea that real estate is an extremely smart investment, you could keep the current home or condo you own and rent it out.  You’ll be able to take a lot of deductions because it’s a rental that you wouldn’t be able to take on your primary residence.

For all the details, read more here.