Seattle Condo Blog and Community Information

 

During a Cosmopolitan condo yearly board meeting the topic of setting a limit on the amount of owners who may rent out there unit at any giving time surfaced.  This was suggested so the building could stay within conforming loan guidelines and make the property more marketable.   Many times developers indicate they limit the amount of buyers who can purchase an unit for investment purposes.  This might only prevent the buyer from renting their unit for one year because of loan guidelines.  One thing to consider Continue Reading »

The Department of Housing and Urban Development released loan limits for the Seattle and surrounding areas today.  That makes the new FHA, Fannie Mae and Freddie Mac loan limit $567,500 (125% of the median home price). This is part of the economic stimulus package signed by President Bush earlier at the end of Feb this year. The bill currently increases the home loan limits and ends December of 2008.

 The loan limit for other dwellings in the areea are as follows: Continue Reading »

The owners on the West and South side of the Cosmopolitan condominium in the South Lake Union Area between Virginia and Eight St. are very upset about modified height limits for buildings built to the west and south of the building.  This issue is being highlighted tonight Monday, March 3 on a special report on Kiro 7 News at 6:00 pm .

Read more on this topic in the SeattlePI online