Anthony Pigati ~ Broker/Owner

This is a misconception that I hear a lot. I guess the best answer is it depends. Here are some pros and cons to help people understand some of the key elements of condo ownership as it may apply to your situation:

Pros:
-You have a homeowners group to help you maintain and watch over the community
-Very little maintenance
-Generally lower price point
-Community amenities like a pool, spa, recreation room or playground
-When markets are HOT so are Condos!
-Condo association usually carries its own fire policy

Cons:
-Poorly run condo associations can lead to emergency assessments or very high association dues
-When markets are down so are condos!
-Depending on the layout you may have several neighboring walls or floors
-Generally no-to little yard
-Not a lot of storage or work space
-Most of the time no garage
-Restrictive rules by the association

Antioch
Closed Homes from 02/01/2005-04/13/2005- 402 HOMES
Closed Homes from 02/01/2009-04/13/2009- 512 HOMES

Brentwood
Closed Homes from 02/01/2005-04/13/2005- 218 HOMES
Closed Homes from 02/01/2009-04/13/2009- 198 HOMES

Oakley
Closed Homes from 02/01/2005-04/13/2005- 103 HOMES
Closed Homes from 02/01/2009-04/13/2009- 160 HOMES

Both can be good deals but on average if the listing agent can get the approval from the bank to sell the house short of what is owed then most often it is at a discounted price, even below market in most cases. The downfall of course is the wait time and uncertainty that the deal goes through and gets accepted. Some bank owned homes are great buys as well and if negotiated right you can be moving in within weeks.