Category: Homeownership

Real Estate Term of the Day: Conditions, Covenants & Restrictions

January 29, 2012

Real Estate Term of the Day: Conditions, Covenants & Restrictions CONDITIONS, COVENANTS & RESTRICTIONS (aka: CCRs) – often found in a condominium or a subdivision, these are rules, written into the deeds or bylaws, that define how property may be used.  They prevent property owners from making changes to their individual properties that could result … More Real Estate Term of the Day: Conditions, Covenants & Restrictions

Real Estate Term of the Day: Community Association

January 23, 2012

Real Estate Term of the Day: Community Association COMMUNITY ASSOCIATION – general name for any organization of property owners to oversee some common interest.  In a condominium or planned unit development (aka: PUD), the association has the responsibility of managing the common elements (see COMMON AREAS) in the project.  A homeowner’s association may be established … More Real Estate Term of the Day: Community Association

Real Estate Term of the Day: Common Areas

January 22, 2012

Real Estate Term of the Day: Common Areas COMMON AREAS – areas of a property [or community] that are used by all owners (Barron’s Dictionary of Real Estate Terms) Below are a few examples of common areas that can be found in neighborhoods around Metro Denver: community pool clubhouse fitness center tennis courts park within … More Real Estate Term of the Day: Common Areas

Real Estate Term of the Day: Cluster Housing

January 18, 2012

Real Estate Term of the Day: Cluster Housing CLUSTER HOUSING – a subdivision technique in which detached dwelling units are grouped relatively close together, leaving open spaces as common areas (Barron’s Dictionary of Real Estate Terms) The most common form of cluster housing is found in patio homes communities. Patio homes are generally smaller detached … More Real Estate Term of the Day: Cluster Housing