The Condominium HOT PAK
Just like the SFR Hot Pak you will also find the Condo Hot Pak an invaluble tool for determining the market value for a condo quickly and easily. The Condo Hot Pak contains 25 pages of information that is presented in 10 sections, and each section deals with only 3 to 4 physical features of a condo at a time. The information is once again simple to understand, not technical, very easy to absorb, and the paper work can serve as a reference guide when ever you need it. You can study and learn the informaton at a pace that fits your schedule. The object here is not to make you an appraiser, but rather to make you a very wise investor. After you learn the basic fundamentals contained in the condo Hot Pak you will know more about how to properly value a condominium than your Realtor does, that is of course unless they have also purchased our condo Hot Pak.
Fundamentals Of Value
There are many physical features and amenities that make up and influence the value of a particual condominium. Once again the most important items that create value for a
condominium are the neighborhood location, condo size, bedroom count, the location within the complex, and the quality of construction. In addition to the physical features of a condo there is also the non physical features that fall into the amenity catagory, and this also has a great deal of value influence on a condo. The view can be a city view, an ocean view, a lake view, a golf course view, a ski slope view, a forest view, park views, mountain views, etc.
A condominiun is vastly different from a single family residence in that the condo owner does not own the underlying land, the home owner's association actually owns the land. The other unique feature about a condominiun is that when you own a condo you actually own an air lot. That is to say that you are purchasing the right to occupy the air space on a specified floor and a specified location on that floor. This is an important concept to understand because if your unit burns down you have the right to rebuild your condominiun inside your air lot. If you have access to the recorded tract map, usually found in your title insurance policy for your condo complex, you will see your air space outlined and designated by an Assessor's parcel number..
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Condo Reference TURBO PAK
In addition to the Hot Pack we are also making available to you a special package containing 12 actual appraisal samples (our TURBO PAK). Each one of these 12 appraisals have been especially selected for you because each one deals with something different that is affecting the condo value. This Appraisal Pak is so incredibly important because it can provide you with a real world road map for dealing with the many situations that you are going to run into in the world of real estate.
You will for instance, see how to handle issues like floor location, condition, quality, chronological age vs. effective age, room count, home size, pools, spa, tennis courts, garage parking spaces, high traffic streets, concessions, a FSBO (for sale by owner), views, recent updates, and many more items as well.
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