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RubberStamp

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Reply with quote  #1 
You know those townhomes that are 99% of the time a PUD but for some reason the one you are appraising is condo ownership?   Anyone feel comfortable comparing it to a non-condo townhome on the condo form or had success doing so?
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Rob

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Reply with quote  #2 
I think we probably have all experienced this. I have used condos for fee simple townhomes and visa versa. I usually will do this if the HOA fees are pretty similar. I don't think the market shows a quantifiable difference, but I could be wrong.
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treskirkland

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Reply with quote  #3 
Quote:
Originally Posted by Rob
I think we probably have all experienced this. I have used condos for fee simple townhomes and visa versa. I usually will do this if the HOA fees are pretty similar. I don't think the market shows a quantifiable difference, but I could be wrong.


I agree, if the HOA fees are similar and the quality is similar I have found there is little if any market difference.  
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RubberStamp

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Reply with quote  #4 
Can anyone then rationalize why a builder would choose condo development under such circumstances?  Just curious.
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Nomad

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Reply with quote  #5 
Yes because a typical consumer probably doesn't know or care of the difference.  They are good substitutes for each other.  As for why, some cities have more favorable density for condo classification.
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Meatloaf

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Reply with quote  #6 
Many agents.... You know the professionals that represent buyers/sellers..... Don't know what a real condo is.

99% of the fee simple town houses in my area are referred to as condos..... Its getting better though... It used to be 100%.

My favorite is when the AMC wants to know your fee schedule and it has a USDA Condo fee on it..... Has there ever been a condo in a USDA approved area?

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