JoAnn Donohue

Your choices are many. You can consider condos, townhomes, and planned unit developments (P.U.D.'s). All three types involve a home owners association and monthly homeowner fees. The latest entry in the condo field are "air" condos. This means they are detached-stand alone buildings, but very very close to your neighbors. They are usually 2-3 stories tall. If you don't like stairs, don't consider these. Townhomes and P.U.D.'s are great because usually you will have an attached 2-car garage and a fenced yard/patio. Most of the time these are two stories. When you are looking at larger complexes that include lots of common areas, club house, pool, etc, the larger your home owner dues will be. The home owners' association absorbs the maintenance and insurance costs for these areas. Most condo associations (except for air condos) insure the buildings and maintain the common areas and may include garbage and/or water service. Many townhome and P.U.D. complexes only maintain the common area you are responsible for insuring your building and paying all utilities. In this instance, your homeowner fees will be smaller. Which is a better investment will depend upon your area. In my area, condos are selling extremely well because of the price point and have achieved very good appreciation. A good qualified realtor in your area should be able to compile stats on condo sales versus single family home sales over the last few years and show what the appreciation of both has been. Should you choose the this route, you want complex with a strong home owners' association that enforces the covenants and restrictions. This is what helps the complex hold value and maintain the property characteristics. You will also want to find out whether there are any pending law suits and/or any large assessments coming due for a large project (reroofing the entire complex for example). Banks will shy away from financing a unit in a complex where law suits are pending. A large upcoming assessment may (but not always) indicate that the complex has not set up enough reserves to handle scheduled and unschedule complex maintenance. Monthly homeowners fees can vary from $40/month to $350/month. You need to factor this cost into your budget. I can tell you that I purchased a townhome in 1991. It was a 2/bed and 2 1/2 bath with 2 car garage. I had a good sized fenced and very private back yard. My monthly home owner dues were $57 per month but I paid all utilities and home insurance. I bought the home for $275K and sold it in 2003 for $530K. I did live in an area of high home appreciation so these results cannot be expected everywhere. - Wed Apr 9 2008, 12:50

Water! We have water! Do you want river views, bay views, ocean views, or lake views? We offer it all. Washington state includes a chain of 174 islands called the San Juans. Additionally we have Whidby and Camano Islands, both located about 1 to 1 1/2 hour north of Seattle. Canano Island is reached by driving across a bridge. Whidbey Island can be reached by ferry or driving across a bridge at Deception Pass. Whidby Island offers a couple of very quaint villages for dining and shopping. I could go on and on and on about locations we have, but it would be most helpful to know what kind of water you would like to be near and then I could narrow my list of recommendations. - Wed Apr 9 2008, 12:23