Today, Loft apartments have become a trendy style of living. The term loft is used to describe a large open concept living space with high ceilings and large windows. Lofts were originally popular amongst artists and bohemians because of their affordability and versatility. Now that lofts have become so popular, loft living is anything but affordable...
Many times at a Board of Directors Meeting things get off track and then motions and procedures are not properly followed. The following is the six steps on how to properly make a motion at a Board of Directors Meeting.
Condominium special assessments are the worst thing that a condo owner can incur. Special assessments occur when condominium associations fail to maintain enough money in their reserve accounts to fund the replacement of the major common areas. Learn how you can avoid the dreaded special assessment.
Purchasers, first-time home buyers especially, generally lack the knowledge to determine what they can afford when it comes to buying real estate and how the purchasing process actually works. Here is a step by step list on how the condo purchase process works:...
With the warmer weather fast approaching, one of the things that people overlook when purchasing a Toronto condo is whether their new condo will permit them to barbecue. With more and more people choosing the condo lifestyle in Toronto, it can sometimes be very difficult to find a condo building that will accommodate aspects of a freehold home into your condo such as barbecuing. This alone makes your condo search a more challenging and frustrating task.
Is renting condos legal? As the real estate market worsens, the legal right - of being able to 'rent' out condominiums - is becoming an even more important issue.
The unwillingness of Banks to lend money on condos is causing prices to fall more than homes. Read more to find out why this is benefiting savvy buyers and investors.
A lot of individuals looking to rent a condo in Toronto or to rent their own condo for investment purposes overlook the benefits of using an experienced real estate sales representative to facilitate the transaction.
The foreclosed homes sale recently closed just outside Miami by Goldman Sachs and a partnership based in Nova Scotia showed how deeply discounted prices are in the Miami area. A total of 158 foreclosed condo units were sold at only $113,009 per unit.
Also, you can get a lot of information from perusing the minutes of the last 3 or so meetings of the board. Check to see if there are a lot of pet complaints and what was done about them. Do the solutions seem to be solving the problems? Do people generally seem to have a good attitude towards pets?
You might be considering shopping for a foreclosed property at a distressed sale price in a resort such as Puerto Vallarta, Mexico. If so, you might as well forget it; you'll not see a foreclosure sign in Mexico!
Bank foreclosures in Florida's condo sector are being enforced by homeowner associations through a process called reverse foreclosure to compel banks to pay past-due maintenance fees and association dues.
One of the things that people overlook when purchasing a condo in Toronto is whether their beloved pet will be allowed to accompany them to their new home. With more and more people choosing the condo lifestyle in Toronto, it can sometimes be very difficult to find a building that will accommodate your pet which in turn makes your condo search a more challenging and more frustrating task.
Most condos have some kind of pet rules, limiting both the size, number and species of your pets. For instance, a condo may only allow dogs under 25 or 35 pounds and limit the number to 1 per person. Others may ban certain breeds of dogs, such as American pit bull terriers and rottweilers.
Maybe you want to sell your condo or loft, but just have not been able to find a buyer. Or maybe you want to continue owning it and build some equity, but you have a desire to live elsewhere. Whatever the reason for doing it, condos and lofts can make good rental properties. But there are some things to keep in mind as you consider whether you want to be a landlord.
It’s no secret that 2007 (and the beginning of 2008) was a red hot year for the Toronto condo market with week long line ups to purchase preconstruction condo units and record breaking sales numbers. With the current state of the economy south of the border, it’s inevitable that the Canadian economy will be affected by the US’s slowdown. Many people are wondering what this means for the Toronto Condo market and are we in a condo bubble ready to pop?
Request a copy of the certificate of insurance which summarizes the association's policy. Check to see that replacement costs are in line with today's prices. Next, look for a building-ordinance clause. If it's included in the policy, it means the insurance company will pay for any costs required for updating the building code in the case of rebuilding. Finally, understand what the insurance company covers and what you are responsible for.
Foreclosure properties are being snapped up by foreign investors in bulk, based on a report from the National Association of Realtors. The strengths of other currencies against the American dollar and the bargain prices of foreclosure properties have been driving the increased sales.
Bank of America has filed a $20 million condo foreclosures case on developers of a condominium complex in Florida. The case was a result of nonpayment of last year’s property taxes and $22.4 million loan principal, plus interest and late fees.
Everybody knows that parking in the City of Toronto has proven to be more of a challenge over the last couple of years. With the population of Toronto increasing dramatically each year, parking is simply becoming more of a concern for both commuters and condominium buyers. In a city where parking lots are being purchased everyday by real estate developers to build yet another Toronto condo, acquiring a parking space and purchasing in a condo building with ample visitor parking is becoming more and more valuable.
Miami foreclosed homes for sale grew again in the July to September quarter. Foreclosure filings rose to nearly 4,400 due largely to the high unemployment rate in the area.
Every bank owned properties list in South Florida has been including a rising number of commercial properties since 2009 as developers continue to be clobbered by the downturn. Recent foreclosures in the area included condo buildings, apartment complexes and marina properties.
High rise living offers many benefits to a homeowner, especially for young executives who have busy schedules that provide them little time to do household chores and maintenance. Aside from that, this lifestyle is also considered one of the wisest investments in real estate.
Banks use credit scores and reports to help them make a decision about you. They will look at your credit score itself, and at your credit report. They want to see how much debt you have, how many credit cards you have open, how many loans you have, and how well you repay your debts. In short, they want to know how much risk they would take on by lending you money. The following steps will help improve your credit and – in the lender's eye – reduce the risk associated with lending you money to buy a condo or loft.
Not everyone is cut out to live in the city, even if the advantages of high rise living can be many for the right family. Generally, high-rise apartments or condominiums tend to be either very close to or right in the middle of downtown. You can look for a high-rise that is close to schools for your children so that you do not end up driving around to and from the different schools and to and from all the different activities that your children might have.
One of the programs that has been supporting condo sales is that of urban tax abatements that allow home owners in certain areas to pay reduced or no—property taxes to give buyers an incentive to live in areas that have been previously seen as undesirable. Many of these tax breaks were set up for finite amounts of time, running anywhere from five to fifteen or twenty-five years; and some of these tax abatements are now coming to an end at a particularly bad time.
When buying a new construction condo in Ontario, the Tarion Warranty Corporation provides protection to buyers under the New Home Warranty Program. Membership of this program is mandatory for new construction builders by offering protection to buyers of new construction projects. Such protection includes: deposits, defects in the workmanship and materials and protection issues involving delayed closings and occupancies.
If you live in a condo, or even looked into living in one, you probably have seen the letters HOA. They stand for Homeowners Association. Before purchasing a condo, it's important to know what your monthly HOA payment covers and what it doesn't cover.
One Lexington is a high-rise condominium project in mid-town Phoenix that is rising from its bust period. When its initial real estate developer went bankrupt a new investor group bought it at a significant markdown, re-priced the condos, and has restarted the promotion process.
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