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Those other areas, the common eleâ€" ments, are also ours to decorate, rearâ€" range, maintain and improve, but indiâ€" rectly through the Board of Directors, whom we have elected and to whom we to the improvement and upkeep of our residence. Those parts of our unit which lie within the space enclosed within the boundaries described in the declaration and description of our corporation, are ours to do with as we please, as long as we do not exceed certain rules that we have, through our Board of Directors, agreed upon. Therefore we can decorate, rearrange the furniture, upgrade the kitchen, replace, add or improve any equipment that needs attention. Such being the case, there are differâ€" ent areas of responsibility when it comes * *Mid pleasures and palaces though we may roam,/ Be it ever so humble there‘s no place like home." Those of us living in a condominium, as part of a tradeâ€"off for the many benefits that condo living offers, find we are sharing, to a degree, some aspects of our home with other people, for this being a multiâ€"unit housing project in which each dwelling is owned separately by the individual who purchases it, the common elements (exteâ€" riors, hallways, roofs, swimming pools, etc.) are owned in common by all unit owners. By H. Penman Smith A.C.CL The value of your condo In the condominium market we have watched our neighbors, who have placed their units in the hands of real estate broâ€" But the growth rate in such a recovery will be lower than in past recoveries â€" perhaps half the "normal rate." It used to be that our economy grew at a rate of between 5 or 6% a year after inflation. This time, we are looking at about 3%. If we are lucky, the recovery will be steady, but certainly a little slower than we have seen before. past five years. Although government, banks and security companies have preâ€" dicted that today‘s low interest rates, havâ€" ing checked inflation, have placed inflaâ€" tion behind us and that recovery from the recession is beginning to appear. Time after time we have been conâ€" scious of the depressing headlines in the newspapers with graphs depicting the difâ€" ference in the value of housing over the In these days of difficult economic times who hasn‘t been made aware of the declining value of housing? To most of us who reside in a condominium, have seen the value of our greatest asset, our units, steadily declining. have delegated our management responâ€" sibilities. That being the case, in our desire to preserve the value of our greatest asset, our home, what steps can we take to maximize the value of our condo for we face the wear and deterioration brought about by the passage of time. A prudent person would take whatever steps are needed to maximize the value of the property. There are many ways in which a unit owner may improve the value of your unit. This is only limited by your taste, ingenuity and pocketbook but it is in the other area that is outside the (See *Board" Page RE 18) This doesn‘t prevent owners, who though aware of the present market conâ€" ditions, may still be considering the placement of their property on the open market. Such a move may arise, either from necessity or through the desire to move to a different location. Should such a change be contemplated, how would one go about selling their property? Real estate sections of our daily papers are full of "Open House" announcements and while this has generâ€" ated some interest with units being shown from time to time, reports have indicated that most of the viewing has come from people who are seemingly simply cruising or window shopping. kers, having to reduce the price of their units by anywhere up to 8 to 10% or more, often in vain, with the consequence that such reductions have only served to deflate the price and reduce the hopes of any other owner who might have been contemplating such a move. fiUDD 0000 t m D