On December 8, 2010, an estimated 45,000+ condominium projects lose their FHA approved status. The Atlanta zip code of 30309 has 9 of them. There are 6 projects that will expire in 2011 and 15 are good until 2012.
FHA Approved Condo Projects - Expiring 12/07/10
- Ardmore -Sheryl
- Brookwood Park Condo
- City Park Townhomes Condominium
- Colony Park Citihomes Condominiums
- Metropolis North
- Parc Vue Condominiums
- Townegate Townehomes Condominiums
- Tuscany Condominiums
- Wingfield Condominiums
FHA Approved Condo Projects - Expiring 12/08/10 or later
- 1010 Midtown Residential Condo (Expires 12/15/11)
- 1280 West Condominium (Expires 12/07/11)
- 905 Juniper Condo (Expires 04/19/12)
- Alden Townhouse Condominium (Expires 10/27/12)
- Ansley Terrace Condo Association (Expires 12/07/11)
- Aqua Condominiums (Expires 12/07/11)
- Aramore Condominium (Expires 10/14/12)
- Collier House (Expires 07/01/12)
- Cotting Court Condominiums (Expires 05/06/12)
- Luxe Condominiums (Expires 02/10/12)
- Manchester/Westminster (Expires 09/22/12)
- Mayfair Renaissance (Expires 11/22/12)
- Mayfair Tower 1 (Expires 05/04/12)
- Park Cenral (Expires 07/01/12)
- Peachtree Lofts Condominiums (Expires 12/07/11)
- Peachtree Walk Condominiums (Expires 04/08/12)
- Piedmont Park West Lofts (Expires 02/08/12)
- Plaza Midtown (Expires 12/07/11)
- Stanford Court Condominiums (Expires 06/11/12)
- The Brookwood (Expires 08/26/12)
- The Loftts at Park II (Expires 07/02/12)
FHA Rejected Condo Projects
- Above the Four Seasons (Reason unknown)
A project marked as "Rejected" is not necessarily ineligible for FHA financing. If there is now additional information available for review, the project can be resubmitted to HUD for an HRAP review.
All condominium Project approvals expire two years from the date the project is added to the approved condominium list. After this two year period, the project must be re-certified/re-approved. This review will determine whether or not the project is still in compliance with all of HUD's guidelines. This includes compliance with the owner-occupancy requirement and that no additional conditions exist that would present an unacceptable risk to FHA/HUD.
For buyers and sellers, knowing whether or not your condo is FHA approved is crucial when determining a closing time frame. An FHA appraisal cannot be ordered until the project is in an "Approved" status.
Click here to get the most up to date information on a condo project's approval status.
If you are looking to purchase a condo that needs a DELRAP or HRAP approval, contact me at (404) 591-2453.