Menu
Menu

Category: Condo Info

FHA Loosening Requirements for Condos as Second Homes

Today FHA announced some big changes to their condo financing guidelines, which will be effective immediately. Calculations for owner-occupied percentages are changing, and second homes will no longer be counted against the 50% owner-occupied requirement. Insurance requirements are also being adjusted to allow more developments to qualify. Also, a new streamlined recertification process has been …

Consulting a Condo Specialist Attorney

Recently I had the opportunity to sit down and have a long discussion with an attorney who specializes in all-things-condo, Kevin Britt. We both run into similar problems on a regular basis, but from different perspectives. It was great to get his insights on issues and he asking me lots of questions too. Kevin did …

Marlborough House in Foreclosure

The Marlborough House, a recent condominium conversion, is officially in foreclosure. A TheSeattleSpecialist blog reader recently commented (Thanks, Aaron!) that The Notice of Foreclosure was posted on the building. I searched the county records and found that on 2/20/2009 a Notice of Trustees Sale (NTS) indeed was recorded showing over $18,000,000 in default. The current …

Where-oh-where will the Trump Tower go?

Seattle’s condo development community is all a buzz about the possibility of a new condo skyscraper to “Trump” all others. In fact, at 82-stories it would become the tallest building in Seattle surpassing the 76-story Columbia Center, according to Spencer Albert of Albert International in his exclusive interview with the Daily Journal of Commerce. Albert …