All Posts Tagged With: "condo"
Bin Laden Liked Animal Porn, Craved Miami Condo, Pork Rinds
That haul of secret computers, disks and videos from the Abbottabad compound of Osama Bin Laden has begun to yield substantial intelligence, according to highly-reliable sources in Washington. “When the full story gets out the public will be amazed,” said one official who cannot be identified. “We were shocked, just shocked, at what we found. [...]
25May2011 | Peter G. Miller | 0 comments | Continued
Should The FHA Insure Luxury Condo Loans?
Last week Senator Charles Schumer (D-NY) announced an effort to increase the size of FHA builder loan guarantees for new housing units in major cities. Now Bloomberg News is reporting that FHA loans are being used to finance the acquisition of luxury apartments in New York. “The Federal Housing Administration agreed in March to insure [...]
17Aug2010 | Peter G. Miller | 0 comments | Continued
Can A Condo or Co-op Go Bankrupt?
Can a condo or co-op go bankrupt or be foreclosed? The answer is you bet — but the good news is that such financial disasters are rare. In general terms a condominium is a property where there are units with individual title and financing as well as common areas which are owned by the condo [...]
30Dec2009 | Peter G. Miller | 0 comments | Continued
How Can We Resolve Condo Disputes Short of War?
Question: I’m on the board of our community association and wonder how disputes between residents can be quickly resolved without litigation or bad blood. Answer: There ought to be a better way to resolve disputes short of lengthy and costly lawsuits and there is: Many contracts require that disputes must be resolved by binding arbitration. [...]
3Sep2008 | Peter G. Miller | 0 comments | Continued
What Are Condo And Co-Op Reserve Funds?
Condos and co-ops collect money each month from owners to pay for current expenses. In addition, well-run properties also collect money each month to create a reserve fund, money set-aside for emergencies and big expenses. The alternative to adequate reserve funds are “special assessments” levied against owners in times of emergency. For instance, if the [...]
29Aug2008 | Peter G. Miller | 0 comments | Continued
How Does Condo Voting Work?
Some condo regimes allot voting and liability on the basis of one unit one vote, while others use a proportional method — the bigger your unit in terms of square feet, the bigger your vote. If you have a small unit, you probably prefer the one-unit, one-vote approach. If you have a large unit, you [...]
29Aug2008 | Peter G. Miller | 0 comments | Continued
What’s The Difference Between A Condo And A Townhouse?
A townhouse can be a condo. A “townhouse” is simply attached real estate, what folks in big cities used to call “row” housing 50 years ago. Transported to the suburbs to create more units per acre, such properties are now called “townhouses.” A “condominium” is property with a private component (the unit and usually the [...]
29Aug2008 | Peter G. Miller | 0 comments | Continued
How Do Condo And Co-op Fees Differ?
A “co-op fee” typically includes an underlying mortgage and property taxes. Mortgage interest and property taxes are typically deductible, thus much of a co-op fee is usually deductible. The precise percentage you can deduct will vary according to your particular co-op. See the co-op treasurer and your tax professional for details. A “condo fee” typically [...]
29Aug2008 | Peter G. Miller | 0 comments | Continued
© Copyright 