The Seattle Condo Blog

When negotiating sales concessions on a purchase, be aware that it can affect the down payment amount.

HUD just approved the monetization of the $8,000 first-time home buyers tax credit on FHA loans, making it available to buyers at the time of purchase. Though, a few caveats apply.

It’s time in the buying process to get the condo inspected, but who should you get to do it and can your dad or a friend do it for you.

The $787 billion American Recovery and Reinvestment Act of 2009 revises the first-time homebuyers tax credit.

Effective March 1, 2009, Fannie Mae is implementing condo guideline changes “in light of the current condo market and the need to mitigate risk on condo loans”. Some of these changes may affect a buyer’s ability to obtain conventional condo loans for new and established condos

The median Seattle condo price rose to $335,000 last month, a record high and an 9.84% increase over January of last year. Unfortunately, that was due to high-end unit closings in downtown (MLS area 701) rather than an overall market improvement.

New mortgage fees and restrictions may hinder investment condo opportunities.

Condo loans may get a little more expensive with a new Fannie Mae fee that’ll go into effect as of April 1st.

A number of new condo developments have obtained FHA approval. With FHA approval, buyers can more easily obtain FHA financing for their purchase which provides a low down payment option, more lenient guidelines and higher financial ratios.

With the credit crunch and constricting mortgage availability, FHA loans have recently become more appealing to buyers. Here’s an overview of FHA benefits and requirements.