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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Mimi Simmons
ERA Cornerstone Realty Group
101 Boulder Street
Nevada City, CA 95959
530-265-7940
Fax: 530-470-0839
mimisimmons@NUMBER1EXPERT.com

When you want the very best, Mimi is your agent! 5th generation Native of Nevada County and 26 years of real estate brokerage experience, Mimi's reputation exceeds her clients' expectations. Founder of ERA Cornerstone Realty Group, Mimi's energy and enthusiasm has taken her to the ceiling of sales performance, ranking in the top 1% in Nevada County for over 12 years and in the Top 20 Brokers in the USA with ERA National, closing up to $40,000,000 annually in past years. Mimi's knowledge of homes and land gives her clients the edge in their property buying process. She is an expert in handling negotiations and contracts and has unmatched passion for real estate. She has daily knowledge of the changing industry. Her Team gives her clients the level of professionalism expected in today's highly competitive market. On top of Mimi's real estate expertise, she is extremely involved in the community. "The best real estate experience we have ever had", is a quote from a Bay Area couple. Call Mimi right now and find out for yourself at 530-362-0010.

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