The Specialist in Seattle Real Estate
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 …
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 …
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 …
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 …
Talk to any mortgage broker around Seattle right now and they will tell you they are doing way more FHA loans than they did before. Many mortgage people are doing exclusively FHA. Why? Because of low-down payments, less restrictive credit requirements, and increased loan limits that finally work in our market. Now if only agents …