Photo: Nick Bastian

We’ve talked a lot about Ann Arbor Real Estate, the short sale and foreclosure market, and the changing housing market.   The internet gives us a plethora of information on Ann Arbor homes for sale, but often the jargon used by Realtors goes undefined.  With that thought in mind, I’m going to run a new series to help home buyers and home sellers decifer the details shared in our marketing pieces and listings.

Let’s start with the basics today:  What is a condo?

• If you own a condo, you do not own the land surrounding your living space.
• A condo owner owns only the unit itself, which is taxed as an individual entity, and sometimes a percentage of the common areas of the community.
• Condo communities may provide such shared facilities as a pool, gym, tennis courts and clubhouse, all maintained by the condo association, which takes care of all day-to-day management tasks. This is one of the key advantages of condo living — all of the joy of using the amenities, none of the hassles of maintaining them.
• Condominium owners pay a monthly fee to the condo association, which also sets the rules for the community.

There are well over 100 condo communities in Ann Arbor alone. Each development is centered around the unique needs of its owners and has a distinctive set of accommodations and special features that make it exceptional.

If you’re interested in learning more or have any comments or suggestions, please let us know.   In the next blog, we’ll take a look at the different types of single family homes available in the Greater Ann Arbor Area.

As always, we here at Prudential Snyder & Company Realtors are here to assist you with any of your Ann Arbor Area home buying, home selling, rental or other Ann Arbor real estate needs.

Call us at 734-747-7500 or 734-747-7700 weekdays, or 734-660-0105 evenings and weekends. We’re also available via email at info@prusnyder.com or online at www.prusnyder.com anytime. Choose Prudential Snyder and Company for the best Ann Arbor Realtors!