Lynn D'Avolio
Coldwell Banker Residential Brokerage | 801-597-2857 | lynn1@soldbylynn.com


Posted by Lynn D'Avolio on 1/3/2017

Selling a condo may seem like a tall task, particularly for those who plan to list a property on the real estate market for the first time. However, condo sellers can take the guesswork out of listing a property and maximizing its value if they consider a few simple questions, such as:

1. How Much Is My Condo Worth?

The price that you paid for your condo initially is unlikely to match your property's worth today. As such, you'll want to conduct plenty of research into the real estate market to assess your condo's worth and price your property accordingly.

Hiring a home appraiser is ideal, as this professional will be able to evaluate your residence and establish a value for it. Plus, a home appraiser can help you identify any "red flags," i.e. problem areas that may prevent you from maximizing the value of your condo.

Don't forget to assess the prices of similar condos in your area too. By doing so, you can get a better idea about how much comparable residences are selling for in your city or town and set a competitive price for your residence.

2. What Sets My Condo Apart from Others That Are Available?

Before you add your condo to the real estate market, you'll want to consider features that may help your property stand out from others that are available.

For example, if you live in a condo community that offers access to a swimming pool and tennis courts, you'll want to include this information in your property listing. Or, if your condo provides a reserved parking spot for you and additional parking for guests, you'll want to provide condo buyers with these details as well.

As a condo seller, you'll want to do whatever you can to differentiate your property from others, regardless of whether you list your residence in a buyer's or seller's market. If you highlight features that help your condo stand out, you can stir up significant interest in your residence as soon as it becomes available.

3. How Can I Optimize the Value of My Condo?

Unfortunately, the real estate market can be unpredictable. And even if you perform ample housing market research, there is no guarantee that you'll be able to streamline the condo selling process and maximize the value of your residence. But if you hire a real estate agent, you can boost your chances of selling your condo.

A real estate agent may boast many years of condo selling experience and understand what it takes to generate interest in a property. He or she also will be able to provide valuable tips and guidance to ensure that you can list your property at the right price in any real estate market. In addition, if you ever have concerns or questions about selling your condo, your real estate agent will be able to respond to your queries without delay.

Employ a real estate agent to help you sell your condo, and you can move one step closer to maximizing the value of your property.




Tags: Condo   condo fees  
Categories: Uncategorized  


Posted by Lynn D'Avolio on 2/23/2016

When it comes to searching for a home, there are a lot of factors that you have to consider. This is especially the case if you are shopping for condos, as you will be sharing a lot of common space with your neighbors as well. The first thing to look into is the overall interactivity that goes on within the block of condos you are considering to make your home. In most cases, it is always better to find a condo that has an interactive community, because this in turn means that you never have to worry that someone might not be doing their part in keeping the block of properties maintained and in good condition. One thing to be careful of is that some communities do not allow pets, and so if you are looking for a condo for you and your pets, then you need to make sure that the community has no problem with this. In the end, you have to find a condo that is able to be comfortable to live in, and where there is the least amount of stress. While it can be very beneficial to live in a community, it can at times be stressful if you are not one to go by strenuous rules. For some people, the idea of owning a home means that they have the freedom of choice to do what they want in their property. One of the most important things to look into when buying a condo is the condo fees. What are they and what will they be down the road? Are they set condo fees, or could they become too costly to pay down the road? Some condos fees go up to the point that makes the great price you got on the condo not look so great because of what you are paying in taxes and condo fees. One of pluses of a condo is no maintenance and a lot of people really like that especially in your later years when you donít want to mow the lawn or shovel the sidewalks. A condo is a great option for many buyers and you can generally get into a condo for a fair price.




Categories: Uncategorized  


Posted by Lynn D'Avolio on 2/12/2013

Is a condominium right for you? The market has been steadily rising for the past few years but condo living may not be for everyone. Condo buyers typically fall into three categories: -First-time buyers -Second home or vacation home owners -Retirees looking for a low-maintenance alternative Under the right set of circumstances a condominium can be a great purchase. Before you run out and shop for condos you have to be comfortable living with rules and restrictions, and in close proximity to others. There are different types of condominiums. They can take the form of apartment-style complexes, townhouses or converted multi-family dwellings. Most condominiums have common areas, such as stairwells, dividing and outer walls, fitness centers, pools, walking paths and gardens. These common areas are under shared ownership. Each unit owner holds an interest in these spaces. Because space is shared there needs to a way to manage the maintenance, repair and costs of these common areas. To deal with that and other issues that involve space sharing every condo development has a condominium association. The association is typically elected by condo owners and makes communal decisions in the interest of the community. When you find a condominium you are interested in you will want to inquire about the association: Some questions you may want to ask are:

  • Does the association maintain reserve of funds to pay for unexpected and potentially expensive repairs? If so, how much is in reserve and how is it managed?
  • Has the association maintained the building in good repair? Are there currently or any planned special assessments?
  • Does the association have plans to add any facilities, such as a swimming pool or gym, in the near future?
  • Does the development have any pending legal actions? Are there any disputes between owners, with developers or with the association that you should know about?
  • Buying a condo also comes with costs some are similar to a single family home purchase while others are condo specific. These costs include:
    • Down payment, mortgage and property tax
    • Condo fees, otherwise known as maintenance fees. Condo fees are paid by every resident to help with the maintenance of the building, pay the salaries of groundskeepers, concierges or handymen, and provide luxury facilities such as a pool, gym or rooftop garden. Condo fees are paid monthly and are subject to change. The condominium association budgets and determines the condo fees for all units. Condo fees are typically determined by the size of your unit, how many units are currently occupied, and the projected expenses for building maintenance and repair.
    • Special assessment fees. These fees may be requested when an unexpected repair or planned modification exceeds the cost of the condo fees collected
    • One of the most important considerations is to determine if you can live with the condominium rules or covenants. The rules vary from one condo development to another. Some condominiums may impose restrictions on pet ownership, noise levels, remodeling projects, and renting. Always read the condo rules and regulations to make sure that you are comfortable with them before you make a commitment to purchase.