Word: condo
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...have now come to represent wretched excess. During the past five years, U.S. developers have constructed a breathtaking surplus of office towers, condominium complexes and hotels. In Los Angeles, a rusting, 17-story framework of steel girders on Wilshire Boulevard has stood idle for three years because of collapsed condo prices. Denver's tallest building, the 56-story Republic Plaza office tower, is only half rented despite such amenities as a concierge, an Italian-marble lobby, a car wash and computerized climate control. Florida's $197 million Le Pavillion hotel, part of a posh development called Miami Center, is usually...
After 15 years together, my male partner and I are just friends, but I love him dearly. I feel he's given me the best years of his youth, and I have left everything to him in a will. I want to avoid probate, but our condo, worth about $350,000, is in my name. I don't want to add him, as I am afraid that if our lives go in different directions, he will force me to sell. I'm 59, four years from retirement and plan to sell and move to a smaller house in New Mexico...
...will bleed in probate. Best of all, you can change your mind. Suppose you find another companion? Or your friend does--and also finds himself more comfortably situated? You can modify or alter the trust at any time. So don't put his name on the deed to your condo. For yourself and for him, do the following: buy your new home and stay healthy. Then your friend will get the most you can give--and you will not suffer in the giving. --By Francine Russo...
...took four years and 15 police reports before the youngest sister gave in and agreed that Kathleen should become their mother's guardian. Wittstock assumed guardianship in 2004. By that time, their mother was living alone and unkempt in her condo with no food in the house and the gas turned off. Now Mom is safely ensconced in an assisted-living home, and Wittstock is proud of what she accomplished with her sisters. "Our relationships are not always great," she says, "but we work...
Dartmouth professor of real estate John Vogel Jr. did a study of two similar Chicago apartment buildings, a rental and a condo, erected across the street from each other in 2001. At that time, the rentals were projected to be $1,800 a month, while the condos were expected to sell for $270,000. Now the rentals go for $1,700 a month while the condos sell for $450,000. "Things have gotten totally out of synch," Vogel says...