As we look for investment properties in the Sacramento foreclosure Market. area, lets take a moment and become familiar with 2 types of Housing.

Condos
In the United States and most of Canada, a condominium (Commonly known as the Condominium Complex) is a collection of individual home units or “apartments” along with the land upon which they sit.The home ownership within a condo is only the air space confining the boundaries of the home. The boundaries of the living space are specified by a document known as a Declaration. This is filed of record with the local governing authority. Most of the time these boundaries will include the drywall surrounding a room, allowing the owner to make some interior modifications without impacting the common area. Anything outside this boundary is held in an undivided ownership interest by a corporation established at the time of the condominium’s creation. The corporation holds this property in trust on behalf of the homeowners as a group–-it may not have ownership itself.
Condominium is highly desirable in areas that are typically is beyond their economic reach. They are also are attractive to the working profession. Additionally, such properties benefit from having restrictions that maintain and enhance value, providing control over blight that plagues some neighborhoods.

Townhouses
A “townhouse” or “town home” is used to describe non-uniform units in suburban areas that are designed to mimic detached or semi-detached homes. The difference between dwellings called just “apartments” or “condos” is that these townhouses usually consist of multiple families, usually multiple floors. The traditional “townhouse” apartment is a two bedroom unit with the living room in the front on the lower level, kitchen in the back. Two bedrooms are on the front and back of the upper.  Independent of any association these Town homes are called “Freehold Townhouses”

In condominium townhouses, the purchaser owns only the interior, while the building itself is owned by a condominium corporation. The corporation is jointly owned by all the owners, and charges them fees for general maintenance and major repairs.