Condo living 9-10-17

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INSIDE THIS ISSUE

September 2017 Powered by

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CONDO TOWNHOME &LOFT

Right-sizing your lifestyle to a condo Maximizing storage space Titling your condo Community Maps

Cachet Homes

Design tips to optimize the impact of your décor Have no fear — help is here!

Nick Yale Via Artisan Lofts

By Susie Steckner

Y

ou’ve found your dream condo with perfect mountain views or a fun urban vibe and now reality hits: How can you make the most of the [usually] smaller-spaces-than-you’re-used-to in your new home? The task may seem daunting especially if you are downsizing from a traditional single-family house.

Here is some expert advice: Take stock: Inventory your furniture, window coverings, artwork, rugs and lighting. You may need to replace, rearrange or do away with certain pieces. “If you are going from 3,000 square-feet to 1,200, that doesn’t always work with existing furniture,” said Sue Goodrich, vice president of sales and marketing for Cachet Homes. “You need to have furniture that fits the scale of the room.”

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“Light fixtures are a great way to make a statement.”

—Sue Goodrich, Cachet Homes Be emotionally prepared: Your favorite piece,

say an heirloom sofa, may physically fit in your smaller living room but still not work for the new space. “The problem is not just the inches but the look of the piece in the room,” said Erik Hansen, owner of Copenhagen Imports.

Think light and bright: Make a room appear larger with space-saving furniture such as a compact dining table that can extend when needed, Hansen said. You can lighten a space even more by keeping furniture off the ground and choosing pieces that stand on legs, he added. This allows you to see underneath and makes a room seem more spacious.

Make a statement: Just because you have smaller living quarters doesn’t mean you can’t go for big impact with statement pieces.

For example, don’t be afraid of a large piece of artwork but do consider how it is framed, Hansen said. A heavy wooden frame will bring a lot of weight to a room while a piece mounted on a simple material like fiberboard will appear as if it is floating on the wall. “In a small space, it is so much more elegant if the art is allowed to be itself,” Hansen said.

Condo versus townhome versus loft – what’s the diff?

Which multifamily living arrangement is right for you?

By Debra Gelbart

M

ost people know a singlefamily home when they see one, but it may not be as easy to identify various multifamily units — condominiums, townhomes, lofts, patio homes and villas.

Condominium: “A condo is a property that

has units owned by individuals [and is] surrounded by a common area shared by all owners,” said Mark Stapp, executive director, Master of Real Estate Development program, W. P. Carey School of Business at Arizona State University (ASU).

A condo development can be many stories high, said David Newcombe, a real estate broker and one of the founders of Launch Real Estate in Scottsdale. Or, a condo community can be garden style — two or three stories in each building — or a mid-rise (buildings that are four to seven

“

Extreme Aerial Productions Via Copper Leaf Villas

“There was a time that attached living was all about price but today it’s all about lifestyle.”

—Dean Selvey, Arizona Builder Sales

stories high). Essentially, Newcombe said, when you purchase a condo, “you’re buying air space. You own everything within the walls of the unit you buy along with a fraction of the condo community equal to the number of condos in the development.

[For example:] If there are 100 condos on the property, you own 1/100th of the community.”

Other options Townhome: If you’d rather own the land on which your multifamily unit is sitting and you prefer to have more personal outdoor space rather than just a patio or balcony, a townhome (also called a “townhouse”) may be for you. A townhome, Stapp explained, is a single-family unit that has common walls on one or both sides. In most cases, Newcombe said, a townhome has at least two

Tony Marinella Via Coronado Commons

CONDO VS TOWNHOME VS LOFT; continued on page CL4

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Simple lifestyle appealing Volunteering in slums, disaster areas and refugee camps, she said, had further ingrained in her the perspective of “how much I have compared to the less fortunate and I liked the idea of starting fresh with a smaller home and a simpler life.”

She first moved into a condo development near Arrowhead Towne Center in Glendale.

She said she’s found that “having a smaller, simpler, uncluttered home helped me feel more at peace and I really value that.”

She said she enjoys a simple lifestyle “but as a busy professional, I also highly value a convenient lifestyle. I still travel and volunteer outside of town a lot and condo living makes it easy for me to leave without worrying about the security of my home or the maintenance of common grounds and amenities.”

Tami Jo Photography Via Sabine Thompson

Perfect fit Easy-care condo living mirrors unencumbered approach to life

By Debra Gelbart

F

or Sabine Thompson, a condominium is a metaphor for her unencumbered approach to life. In 2012, following a divorce, she left a three-story, sixbedroom house in Lossiemouth, Scotland and purposely chose to live out of a suitcase for the next nearly three years. She teleworked full-time as a human resources professional for Florida Blue (the Florida

branch of Blue Cross Blue Shield) while volunteering around the world and trying to define what “home” was for her.

“It took me a while to decide where to settle and start anew,” she said.

“Some people struggle to decide what neighborhood they want to live in; I was trying to decide what continent I wanted to settle in.”

Once she narrowed it down to the U.S., she had to decide on a state. “By the time I started looking at homes in Arizona, I had

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LMP Media Via Biltmore Living

“I embrace convenience and a low-maintenance lifestyle and I value being centrally located.”

—Sabine Thompson been living out of my suitcase for almost three years, visiting friends and family, volunteering in more than 15 countries and in at least 39 states across the U.S., and moving to different places up to several times a week.”

Biltmore Living beckons Thompson will soon move into a new condo at Biltmore Living in Phoenix.

“I love the floor plans that were presented to me at Biltmore Living,” she said. “The condos have a very modern, young vibe to them. I like the accessibility to stores and restaurants (some are even within walking distance), being close to Downtown Phoenix and Old Town Scottsdale, and being such a short ride away from the airport. And I don’t have to give up most of the perks I previously had like the pool, spa or gated community.”

Villagio at Dove Valley by Homes by Towne

Villagio at Dove Valley by Homes by Towne

Making the move Downsizer enjoys maintenance-free condo living

By Susie Steckner

W

hen Gary Baugh decided to downsize and leave behind his traditional single-family home, he scouted out a range of options looking for the best fit. He found it at Villagio at Dove Valley in scenic Cave Creek.

A single-level condo in the gated community, which includes just 80 condos, matched his budget and all his needs.

“I had more than I needed (with the single-family home) and it was financially becoming a drain,” Baugh said.

Villagio at Dove Valley touts its “firstclass living” surrounded by awe-inspiring

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“I am amazed at the number of downsizers who tell me … how they wish they would have moved sooner.”

—Michael DuEll, Homes by Towne mountains and the Sonoran Desert. Owners can choose from condos ranging in size from 1,340 to 1,871 square-feet which offered plenty of space for Baugh.

The retired high school teacher had been living in a roughly 1,900-square-foot home with a yard and pool to take care of year round. He paid for a pool service and handled the time-consuming yard work himself.

Villagio at Dove Valley by Homes by Towne

“It was a lot of work to maintain,” he said.

By contrast, condo living at Villagio offers a simpler lifestyle.

Baugh’s two-bedroom condo, which also has a large den, was move-in-ready and features two covered balconies overlooking both a pool area and the entryway to his home. In addition, he has a two-car garage that’s a short walk to the stairs leading to his home.

Plenty of amenities Villagio offers a host of amenities including pools and spas, a barbecue area and fitness center. It is also conveniently located near Dove Valley Ranch Golf Club, biking and walking trails, shops and restaurants. On a recent morning, Baugh enjoyed breakfast at the club’s restaurant.

“I walked over there. It was just about 400 yards away,” he said.

Lock-and-leave living Michael DuEll, designated broker for Homes by Towne, said new owners like Baugh quickly embrace condo living.

“I am amazed at the number of downsizers who tell me after they move in how they wish they would have moved sooner,” DuEll said. “They absolutely love that ability to turn the key and go and not worry about anything. They seem to be so much more relaxed and happy now with their new maintenance-free lifestyle.”

The lock-and-leave lifestyle definitely appeals to Baugh. Before a two-week trip to visit family and friends, he did little more than make arrangements for someone to water his plants.

“I’m very happy with the condo,” Baugh said. “I think 1,600 square-feet is a nicesize home. I have all the space I need.”

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Maximizing storage space Creative options abound

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he noted. “They’re more comparable to closets found in single-family homes.”

While interior storage solutions are certainly helpful, they still sometimes don’t provide enough room for buyers. This is where builders are getting even more creative in filling the storage void.

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“Our buyers are usually coming from 8,000 to 10,000-square-foot homes and they still need space for holiday décor and other things.”

—Jack Luciano, The Agency

By Kristine Burnett

C

ondos, townhomes and patio homes are currently in high demand.

While these generally smaller living accommodations often offer a lesshassle lifestyle, they aren’t always known for having an abundance of storage space.

To that end, many builders are unveiling some innovative solutions.

Nikki Erbele, director of development at Liv URBN Development, says space planning is an important consideration for her company when mapping out new condominium and townhome projects. The builder has two developments currently underway in Phoenix — Contour on Campbell and The Mason.

Extra closets and cabinetry For example, Erbele said that they make sure to include extra closets in the units “for things like cleaning supplies, linens, household items, etc.” Erbele cites large walk-in master and second-bedroom closets, full-size pantries and extra cabinets built into kitchen islands as some of the

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“Most people can’t keep everything when they make the move to condo life.”

—Nikki Erbele, Liv URBN Development

additional ways Liv URBN Development maximizes inside storage.

Jack Luciano, a partner with The Agency, the broker of record for Two Biltmore Estates, echoed the focus on providing in-unit storage for buyers. Residences in this upscale condo-style property, located in Phoenix near the Arizona Biltmore Resort and Spa, range from 3,200 to 4,800 square-feet.

“There’s ample storage inside our units including upper and lower kitchen cabinets, laundry rooms and much larger closets than what are found in traditional condos,”

Garage and storage-room options “The Mason, our townhome project, features two- and two-car-plus garages with each unit,” Erbele shared. “Our condominium project [Contour on Campbell] has an upgrade option to purchase a private lock-and-key storage room.”

The condominium project has storage options ranging from 20 to 115 square-feet; they measure the full height of the garage.

Price varies based on size and location.

“This gives buyers a convenient option for storing their stuff onsite instead of having to rent a storage unit somewhere else,” Erbele said. “It’s a particularly appealing option for buyers who have a lot of luggage and holiday decorations that serve a purpose but don’t need to be accessed regularly.”

Of course, the amount of storage space a buyer needs is relative to their living situation and lifestyle.

Similar to the Liv URBN Development, residences at Two Biltmore Estates include either a two-car private garage located in a separate structure about a one-minute walk from the residential building or designated

parking in a gated underground garage that can be accessed by elevator.

According to Luciano, each private garage includes a storage room. Buyers who opt to park in the property’s reserved underground parking have access to their own five-foot by eight-foot locking storage unit located directly in front of their individual parking space. “These storage units are actual rooms so buyers’ belongings are protected from the elements,” he said.

Making a smooth transition Downsizing to any extent can be difficult, particularly when it comes to deciding what to take with you and what to purge.

Liv URBN Development partners with a local moving company that has a spaceplanner on staff to help advise clients on what items to keep and where to put them.

“Most people can’t keep everything when they make the move to condo life,” Erbele said. “This complimentary space-planning service can be instrumental in helping them make a smooth transition.”

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Titling your condo

CONDO VS TOWNHOME VS LOFT; continued from page CL1

Condos are titled the same way as other real property

By David M. Brown

Marc Boisclair Via One Lexington

levels inside to maximize land usage but offer more interior living space.

“A townhome is more likely to have a small yard or courtyard and will usually be a more vertical design whereas a condo is far more likely to be either an apartment style or may have residences that horizontally overlap another residence,” said real estate specialist Dean Selvey, owner of Arizona Builder Sales.

Loft: A loft is a style of either apartment or condo that is a large undivided interior space, Stapp [of ASU] said, adding that some may have two floors. Lofts often look more industrial with exposed ductwork, concrete floors and brick walls, Newcombe [of Launch Real Estate] said.

A loft is “often converted for residential use from some other use such as light industrial,” said Tamala Daniels, a Realtor® and director of sales and marketing for Copper Leaf Villas, a condominium community at 24th Street and Southern in Phoenix. “When industrial developments are developed into condominiums instead of apartments they are called loft-condominiums.”

Patio home: A patio home is a single-family

B

undivided one-half interest in the property and this often needs to be cleared through probate upon a spouse passing,” Vos said.

other owners. Married persons may hold title with their spouses as joint tenants with right of survivorship, community property, community property with right of survivorship, or tenants in common.

In addition, legal persons may hold title as a sole owner or as tenants in common with another person, either natural or legal.

In Arizona, community property is presumed between spouses, but the right of survivorship is not and, therefore, must be designated. And, without right of survivorship, property does not automatically pass to the surviving spouse, Etherton said.

Tenancy in common: Tenancy in common allows for each owner to hold his or her percentage separately from other owners; percentages of ownership interests need not be equal. Each co-tenant has an equal right to use and enjoy the property regardless of his or her percentage interest. Note: “Upon the death of an owner, their interest would not automatically pass to the other owners,” Etherton said.

Other options: Vos said that some people establish a trust to limit the taxes of an estate upon passing and others are choosing to title their interest in entities such as a limitedliability holding company. “This is done mostly to limit exposure to liability,” he said.

Variety of ways to title property Joint tenancy with right to survivorship: In joint tenancy with right of survivorship, each party owns an equal interest in the property and has an equal right to enjoy the property, said Devin Vos, vice president of Scottsdalebased Thomas Title & Escrow. “But each joint tenant must acquire their interest in the property at the same time to establish joint tenancy,” he said. And: “On the death of a joint tenant, their percentage interest passes to remaining joint tenant(s) without the need for probate,” Etherton added.

Community property: With community property, as in Arizona, title is through a valid marriage between two people.

Community property is property acquired during the marriage and was not acquired by gift, devise or descent, which is sole and separate ownership. “Each person holds an

Community property with right of survivorship:

Also only for married couples, community property with right of survivorship is co-ownership so that the surviving spouse retains full title after the death of the other spouse. This provides a beneficial step-up tax basis, reducing capital gains taxes to a surviving spouse.

Seek expert advice This is just a very broad overview of titling options, so be sure to consult with real estate and/or legal professionals before titling your condo, both Vos and Etherton suggested.

Multi-generational appeal Regardless of type, “multifamily living has a universal appeal for all generations,” Selvey said. “It is both efficient and convenient living for a single person just entering into homeownership or for the retiree who wishes to live maintenance-free. We’ll start seeing more live-work building designs (either as condos or townhomes),” Selvey predicted, “especially in the urban areas along the light rail.”

Editor PAULA HUBBS COHEN Paula.Cohen@cox.net

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oth “natural persons” (individuals) and “legal persons” (corporations, partnerships, limited liability companies, government entities, trustees of trusts, etc.) can take title on condominium units, said Vicki Etherton, president of Phoenix-based Landmark Title Assurance Agency.

Natural persons may hold title as sole owners or as joint tenants with right of survivorship or tenants in common with

unit usually on a small narrow lot, Stapp said. “It may or may not have a zero-lot line setback meaning one of the walls of the home is on the property line,” he noted. A patio home is almost always a single story, Newcombe said, and typically has only a back patio in lieu of a backyard.

Villa: Villas are a bit trickier to identify, Newcombe said. A villa can be a description of an upscale townhome or condo or it can refer to an upscale patio home. Some people use the term to describe a single-family home that’s smaller in square-footage than other homes in the same subdivision.

Contributing Editor JIM WILLIAMS JLWilliams@RepublicMedia.com

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Resort-style townhomes in North Central Phoenix 16th Street and Morten Avenue

From the upper $300s

From the low $400s

YOUR LIFE. YOUR RHYTHM.

From the upper $500s

NEW CONDOS NOW SELLING IN CHANDLER FROM THE MID $200s

Call 877-546-8669 for more information or to join our VIP interest list

Skye Single-family garden homes in the McDowell corridor of Scottsdale 68th Street and McDowell Road

Luxury townhomes at Scottsdale and the 101 74th Street and Pinnacle Peak Road Grand Opening September 30!

WARNER RD.

From the upper $400s

Call 877-546-8669 for more information or to join our VIP interest list

Happy Valley Rd.

N

SALES OFFICE

10

W. POST RD.

Pinnacle at Silverstone Summit at Silverstone

Looking for a new home, but unsure where to start?

Contact our friendly Community Information Specialists at 877-546-8669.

W. RAY RD.

Pointe 16

AIRE

S. PRIEST DR.

Summit at Pinnacle Peak Patio

Ask how you can be in your new home in as little as 60-90 days!

New condominium homes from 1,400 to 2,187 square feet

Now Selling!

ALISON WAY

Grand Opening September 30!

Pinnacle at Silverstone

Find your rhythm in this private, gated community, filled with amenities and activities.

ALISON WAY

Villa-style homes at 74th Street and Pinnacle Peak Road

Alma School Rd.

Summit at Silverstone

Scottsdale Rd.

6SP

Gated community with resort-style amenities Private, attached 2-car garages Quick move-in homes available Close to shopping and dining Convenient freeway access

McDowell Rd.

SKYE

khov.com/phoenix

Availability, prices, incentives and dates are subject to change, and K. Hovnanian® Homes reserves the right to cancel or change all offers without prior notice; see Sales Consultant for details. If buyer is working with a licensed real estate agent or broker, the agent or broker must accompany and register buyer on first visit to each community or pre-register using our Rapid Registration form prior to buyer’s first visit.

Rapid Registration form can be obtained by emailing arizona@khov.com or calling 877-546-8669.. No offer for sale or lease may be made or accepted until buyer’s receipt of Arizona Subdivision Public Report. A public report is available on the State Real Estate Department’s website. We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining housing because of race, color, religion, sex, handicap, familial status, or national origin.© 2017 K. Hovnanian® Great Western Homes, LLC. ROC 188563. ©2017 K. Hovnanian® Building Company, LLC, an Arizona limited liability company. ROC 277023

VISIT US AND TOUR OUR MODEL HOMES TODAY. FIND YOUR NEXT HOME AT MATTAMYHOMES.COM CALL 602-497-3226 SALES CENTER LOCATION & HOURS 7098 W. POST ROAD, CHANDLER, AZ 85226. OPEN DAILY 10AM-6PM, FRIDAYS 1PM-6PM All pricing, availability and plans subject to change without notice. Please see a Mattamy New Home Counselor for additional details. E.&O.E. Builders ROC#249191B.