Even though the old timer always said: "the land, son, it's the land that matters", nowadays a lot of real estate is in the form of condominiums and townhomes. In fact in recent years, nationally, the appreciation is actually higher for condos and townhomes than for traditional houses, called SFR (single family residences), a term which implies that there is a piece of land that comes with it. The reason is because since they were cheaper to start with, and they are usually "starter homes", they were more in demand because more affordable. Also, lifestyles have evolved and many more people live in cities where density is higher (hint: like in the Silicon Valley).
What do homeowners think of their HOA? The following information is provided by the California Association of Realtors.
if you are considering a purchase of a planned unit development ("PUD"), you may want to look at one of my older posts regarding condominiums in the Silicon Valley, or another one regarding the difference between condominiums and townhouses.
Thank you for reading, and share my blog if you like it!
Let me know how I can help you with your real estate needs,
Best regards,
Francis
Home Valuation tool
Detailed, local trends etc...
Current mortgage rates (going up...)
A worthy local non-profit to remember: Community Services Agency in Mountain View.
