Facts about Cooperatives: Most co-ops are incorporated and a board of directors governs the complex with the owner of each individual unit having one vote.

2009 Real Estate Prediction...Sellers can do everything else right but fail miserably if the home is priced too high. The number one reason why properties don't sell is price. Anything will sell for the right price. The first trick is to figure out what that price should be before putting your home on the market. The second trick is to figure out when to reduce the price.

Condo Fact of the day.....A condominium association is often elected to handle repairs and administrative work related to the common areas. Normally, each unit owner pays fees for common maintenance. The association holds an insurance policy covering the jointly owned areas, while individual owners carry insurance for the interior components of their units.

Condos are a wonderful lifestyle choice, and in congested urban areas may be one of the few home ownership choices. But make sure you understand what you are buying and what you are buying into.