Ellicottville real estate and homes for sale in New York, resort properties, vacation homes - Larry and Louise Oeffling, REALTORS® Larry and Louise Oeffling REALTORS(r) for Ellicottville, New York real estate, resort properties, vacation homes - NUMBER1EXPERTS™ Larry and Louise Oeffling NUMBER1EXPERTS(tm) for Ellicottville, New York real estate, resort properties, vacation homes

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Larry and Louise Oeffling, REALTORŪ, real estate agents and broker for Ellicottville New York home listings, property and land for sale - NUMBER1EXPERT(tm)
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Real Estate Tips
Titles >Holding Title to A Condo

With condominiums becoming increasingly popular among today's homebuyers, it is a good time to clarify the terms of ownership that seem to confuse many people. Condo-type residences most commonly fall into two categories - condominiums and townhouses.

A condominium is usually a multi-story structure. Each owner-resident has a deed of ownership for his own unit and owns the space within the unit, but not the land under the structure. Therefore, condo units can be stacked vertically. Condo owners share title to the common areas of the development, including land, exterior of buildings, hallways, roofs and swimming pools -- all areas used by all occupants. Each owner pays property taxes on their unit. Also, a monthly fee is paid to the homeowners' association that is used for managing and maintaining all common areas.

A townhouse, or town home community is usually a series of single- or two-story housing units, each linked to each other horizontally by common walls. Each owner hold title to their unit and the land beneath it, thus these units cannot be stacked vertically. Typically, a townhouse unit will be a two-story residence, with the living area downstairs and bedrooms upstairs. Common areas belonging to the townhouse development are owned jointly. Each townhouse owner pays property taxes and association fees.

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Real Estate Trivia
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What are considered the ideal conditions for a seller's market?

A 
In a seller's market, prices are firm and good houses are sold before advertised or as soon as they show up in the MLS.
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Larry and Louise Oeffling, REALTORŪ, real estate agents and broker for Ellicottville New York home listings, property and land for sale - NUMBER1EXPERT(tm)

Larry Oeffling
Ellicottville Real Estate

22 Washington Street
PO Box 1970
Ellicottville. NY 14731
Office: 716-699-6748
Fax: 888-569-8667
Email: LarryandLouise@NUMBER1EXPERT.com
Larry: Larry@ellicottvillerealestate.com
Louise: Louise@ellicottvillerealestate.com

Larry and Louise Oeffling are proud to announce the revival of THE ORIGINAL real estate company in Ellicottville, simply called Ellicottville Real Estate. We are now in our new downtown location at 22 Washington right between the Gin Mill and Earth Arts. Stop in to see us. Ask us anything about real estate. We'll help you!

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