All Posts Tagged With: "unit"
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
Real Estate: Second Quarter Sales Rise, Prices Fall
Existing-home sales in the second quarter showed healthy gains from the first quarter in the vast majority of states, according to the latest survey by the National Association of Realtors. However, prices continued to fall in most markets. Total state existing-home sales, including single-family and condo, rose 3.8 percent to a seasonally adjusted annual rate [...]
12Aug2009 | Peter G. Miller | 0 comments | Continued
Can I Buy An Under-Priced Co-op Without Board Concerns?
Question: I have an opportunity to buy a co-op for $150,000 even though similar units in the same building typically sell for $190,000 to $200,000. Is this deal too good to be true? Answer: The arrangement is probably both true and unlikely to conclude with a sale. Co-op sales are unique in that they require [...]
30Aug2008 | 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 is a planned unit development (PUD)?
A “PUD” is often a planned community where there are a variety of housing and real estate options (often residential, commercial, and industrial properties in larger projects); where property is owned by individuals; where common areas and assets are owned by a corporation; and, where deeds reflect PUD options and responsibilities. An attraction of larger [...]
27Aug2008 | Peter G. Miller | 0 comments | Continued
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