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The median price for an existing condo or co-op was $359,800 ... Find a Realtor who knows the condo landscape. Find a local real estate agent who understands the ins and outs of the condo-buying ...
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The type of home you choose is a very personal decision. Whether you’re considering a house or condo, there are significant differences that you want to carefully contemplate. If you're a former ...
A housing cooperative, or housing co-op, is a legal entity which owns real estate consisting of one or more residential buildings. The entity is usually a cooperative or a corporation and constitutes a form of housing tenure. Typically housing cooperatives are owned by shareholders but in some cases they can be owned by a non-profit organization.
States vary in how they tax common areas, for real estate tax purposes. It may depend on whether it is a condo or a co-op. For example, the state of Arizona taxes "residential common areas" in housing developments with a flat tax, but common areas of condominiums and golf courses are assessed separately. [18]
This tax may be imposed on real estate or personal property. The tax is nearly always computed as the fair market value of the property, multiplied by an assessment ratio, multiplied by a tax rate, and is generally an obligation of the owner of the property. Values are determined by local officials, and may be disputed by property owners.
Buying a condominium means buying an individual unit in a property with public areas owned and managed by a homeowner's association. Buying an apartment usually means buying a share of ownership ...
When the time comes to buy their first home, many Americans need to carefully weigh a variety of factors before deciding on which type of property to purchase. For the most part, it's a decision...