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Real Estate Tips

Titles >Holding Title to A Condo

With condominiums becoming increasingly popular among today's homebuyers, it is a good time to clarify the terms of ownership that seem to confuse many people. Condo-type residences most commonly fall into two categories - condominiums and townhouses.

A condominium is usually a multi-story structure. Each owner-resident has a deed of ownership for his own unit and owns the space within the unit, but not the land under the structure. Therefore, condo units can be stacked vertically. Condo owners share title to the common areas of the development, including land, exterior of buildings, hallways, roofs and swimming pools -- all areas used by all occupants. Each owner pays property taxes on their unit. Also, a monthly fee is paid to the homeowners' association that is used for managing and maintaining all common areas.

A townhouse, or town home community is usually a series of single- or two-story housing units, each linked to each other horizontally by common walls. Each owner hold title to their unit and the land beneath it, thus these units cannot be stacked vertically. Typically, a townhouse unit will be a two-story residence, with the living area downstairs and bedrooms upstairs. Common areas belonging to the townhouse development are owned jointly. Each townhouse owner pays property taxes and association fees.

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Real Estate Trivia

Q	What high-profile rental property rents for $13,500 a month although the star hasn't lived there for over 20 years?
A	Shirley MacLaine's name is still used to promote her Encino, CA, estate even though she hasn't lived there in years.
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Vickie Polston, REALTORŽ, real estate agent and broker for Bullhead City, Mohave Valley and Fort Mohave, Arizona home listings, property and land for sale - NUMBER1EXPERT

Vickie Polston
Keller Williams, River Cities Specialist
2440 Adobe Rd.
Bullhead City, AZ 86442
Tel: 928-727-2501
Fax: 928-768-2516
Email: vickieandchuckpolston@NUMBER1EXPERT.com
As residents of Mohave County Arizona, Chuck and I have become familiar with land and homes of the Tri- State area. Our passion for the Colorado River and the community surrounding the area, golfing and gaming at the local casinos in Laughlin, Nevada has not only given us a look into the community's future home growth but allowed us to develop a reputation for marketing, follow-up skills and motivation. As your local Arizona Realtorsďż˝ in Mohave County, we will work harder and longer to find the right lots, property, home, or investments to meet the needs of our clients. Throughout our years in the Mohave Valley area, we have developed a network of investors and contacts to better serve the needs of our clients. Whether you are buying, selling acreage, new or used homes, or investing with us as your Arizona Realtorsďż˝, "no phone call will go unanswered, and no appointment will be missed!" The 2009 Economic Stimulus Package includes a tax credit up to $8,000 for first-time home buyers and those who haven't owned a home in three years. Now is a great time to make your dream of home ownership a reality. I can help you take advantage of this unique opportunity.