Condo, PUD, Co-op: What's the Difference?
Condos: Walls, floors, and ceilings owned by all residents; HOA dues; covenants, conditions, and restrictions; value depends on the desirability of entire development.
Planned Unit Development (PUD): Individuals own structure and some land.
Co-op: Corporation made up of all tenants; larger units have more power in how building is run; fees for taxes, mortgage, repair, improvement; heavy scrutiny of financial, personal history.
Townhome: Not a form of ownership, but a term for an attached row house.
Advantages of each: Prices often lower than for single-family home; maintenance minimal or nonexistent; safety in “cluster” environment.
Disadvantages: HOA dues; CCRs may be complex.
My $.02
I renew again this year!!
I finished my 45 hours of continuing education to renew my license this year....Yay!! The California Association of Realtors offered a FREE 45 hour continuing education package this go around. Got to say it was a lot more rigorous than the First Tuesday packages I have bought in the past. I know more about California Water laws now. And the updated fair housing materials are heart breaking, but I am a glad that the information has been so graphically updated with statistics and case studies. The trust fund handling and risk management material and a few other hours like property management are cemented into my real estate lexicon. I had to read and re-read some of the environmental hazards and new green and modular building standards that have been growing in our market place.
I think the 45 hour FREE California Association of Realtors course work material was awesome, but it seemed like a lot more than 45 hours!
Pampered Chef on the Road
My Shared Rewards Party is ending soon. We need four more orders to reach our goal, can you help with an order? here's the shopping link: https://www.pamperedchef.com/party/rewardsharedbylauren
Order NOW. Party closes January 27 at 5pm PST
