Distressed by Distressed Properties Law?
On June 12, the Washington State “Distressed Properties Law” took effect. That’s House Bill - HB 2791 If you have the time to plow through the bill, here’s the whole official mess as a PDF file. If you have a shorter attention span, read the June 6 Press Release from the Washington Attorney General. In their desire to protect homeowners who are "distressed about the possibility of loosing their homes" the law makers may have done more harm than good....more
Issaquah Highlands Home Hunting
This is a great time to buy homes in and around Seattle, especially if you do not have to sell. Two of my first-time buyers are taking advantage of the local buyers’ market. One young couple will close in two weeks on their first home in Monroe, the other just started looking with their eyes set on homes in the Issaquah Highlands.
Ready and Qualified to Buy their First Home
Both couples share a trait that is becoming rare these days: save before you buy and then buy less than what you could afford. Needless to say, it is a treat to negotiate a deal for buyers like that....more
Seller Disclosure Statement: Form Fatale
Almost as inevitable as death and taxes, the Washington Seller Disclosure Statement is a sure thing when it comes to selling residential property in Washington State. Form 17, as it is also called, looms large and larger.
Getting more complex over time.
The state legislature keeps adding and changing Form 17. The last major change was in 2003. Subsequent effective dates and changes/additions pertained to: ...more
Seattle Eastside Condo Conversions
Condo conversions remain an attractive choice for first-time buyers.
(Note: this is an update of an article I wrote more than a year ago for my website GNADE.com .)
Although the Seattle real estate market has cooled off since 2006, condo conversions are still an attractive option for first-time home buyers. With good reason because often it’s the only affordable option.
Over the past four years, developers have plucked one eastside apartment complex after another from the Seattle eastside landscape and created new real estate for sale. Some of the more recent conversions are in or near downtown Redmond, such as the Riverwalk at Redmond - built originally in 1983, The Boulder (1985), and the Bella Vista (1981). A conversion in progress is the Champagne (1969) in Bellevue near 148th on NE 8th Street. ...more
Confounding Condo Conditions
Being on the Bellevue and Kirkland condo prowl with one of my valued clients, I was reminded again how difficult it can be to find out all the facts before making an offer. One of the listing mentions some “possible future assessment” and the listing agent professes not to know anything more specific.
What to do?
Call the management company. I am still waiting for a call back but I’m not holding my breath. Scour the web, looking for “name of condo + lawsuit” or similar, but to no avail.
You want the information? Make an offer!
To get this elusive information the buyer must make an offer and the seller needs to accept the offer - i.e., the two parties must reach mutual agreement. Only then will the buyer receive the RESALE CERTIFICATE (from the condominium association or authorized agent) ...more
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