Localism: Seattle's Belltown

FHA Preapproval and Non FHA Approved Condo Complexes

Fri, 17 Oct 2008 18:15:13 -0500

FHA financing used to be only for a select few. With the recent changes to the mortgage world, FHA has become much more popular and is in fact one of the most attractive financing options currently available when buying a home.

WHY?

Under FHA approved loans, you can put as little as 3% down toward a home. Significantly less than the 5-10% typically needed for a conventional loan. In addition, the amount that you can negotiate a seller to put toward your closing costs is significantly higher.

In cities like Seattle, FHA loans have the greatest appeal to those who are looking for their first home or make less than a million dollars per year (ie. most of us). Condos are attractive options for this group.

But FHA loans only work on a project if they are FHA approved right? Not necessarily.

If a particular condo complex is FHA approved then there is no problem. Using your FHA loan to make an offer. If it is not, then you will need to have your agent get a hold of the FHA Spot Approval. It is basically a checklist that your mortgage agent needs to have filled out by the condo association rep. to make sure that the projects financial situation is secure. If the complex has no major red flags, such as a law suit against it, or a significant pending special assessment, then everything should be fine.

So go ahead shop your hearts out, and if you find the perfect condo and are concerned about FHA, breathe a sigh of relief. It isn't as difficult as it sounds.

Strategies for success in picking the right Property Management Company In Seattle Washington 98109

Tue, 30 Sep 2008 17:48:22 -0500

Hiring the right management company for you property take more than picking up the phone and asking what you charge to rent-or manage

Learn the basic question you should ask about your property -

First thing call the property management company and ask question but remember a good property manager is busy so do your research first.

Ask question that are the most important to you- maybe fees would be a good one and why they charge that fee-

Book keeping and records, what is you avg days on market how do you screen tenants.

When will I received my collected rent checks from management company-

is collected rent check mailed or deposited.

IF my rental property has a maintenance problem how will it be fixed-

What is Landlord Tenant Act?

Call RD House Real Estate & Property Management we will be happy to answer you questions! 206-728-6063

Downtown Seattle Condo Update - March 2008

Sat, 19 Apr 2008 16:44:59 -0500

March 2008 exhibited a marked improvement for downtown Seattle condo values with the median price rising to $525,000, a 13.3% increase over the same period last year and a 39.6% jump over February.

The good news in property values is tempered by a significant rise in the number of active listings to 343, a 51% increase compared to March 2007. Although pending sales are down, the downtown area has the second lowest decline in pendings at -11%, while closed sales increased 25%. The absorption rate now stands at 6 months.

Great Cheap Fun Restaurant

Fri, 29 Feb 2008 17:50:01 -0600

We had everything from appetizers to dessert plus drinks for four people and the total was under $100! Each plate was better than the last! Fun, delicious, and local.

"Black Bottle is a casual tavern committed to good eating and great drinks, offered at fair prices. Every dish is made fresh-to-order in sharable portions. We have a full bar and hard-working wines, priced to sell. The atmosphere is convivial and uncluttered; a modern design in a century old building. Our service standard is efficient and informal. Come with a largish group or for an intimate evening for two. Cheers!"

206.441.1500
2600 1st avenue + vine
belltown
seattle
21 years of age and older

MAP

LINK: Black Bottle

This entry was posted on Tuesday 27th of February, 2007 at 12:00 am | Posted in Susan's Favorites

Belltown Real Estate - January Snapshot

Thu, 24 Jan 2008 20:37:38 -0600

Belltown Seattle Condos

In Belltown Seattle, there are currently 189 condos for sale. The lowest asking price of these condos is $189,000. The highest asking price is $3,547,7000. The average asking price for a condo in Belltown is $702,143. These condos have an average of 1.4 bedrooms and 1.5 bathrooms.

Of the condos for sale in Belltown, 24 are priced under $300,000, 69 are priced between $300,000 and $500,000, 37 are priced between $500,000 and $700,000, 29 are priced between $700,000 and $1,000,000, and 30 are priced over $1,000,000.

Find Seattle Condos For Sale