Bellevue Condo Blog and Community Information

The new laws that took affect June 12th 2008 concerning condo law in Washington State. 

Some key changes to the Washington’s condominium law will require associations to:

Prepare and routinely update a reserve study to calculate the need for, and cost of, major maintenance.

Encourage associations to estabilsh a long-term reserve account to pay for major maintenance and repairs.

Notify buyers when a current reserve study does not  exist and warn this might poses a risk to them.

In the past, unhealthy associations and buildings would pass along the cost of major renovations and repairs to the owners by imposing a special assessment.

Children’s Hospital in Seattle is looking into expanding in Seattle or the Bellevue area. The only problem is land is not available, so what the solution. The solution is buy a condominium complex and potentially use the site for the expansion. But how do you get those condo owners to sell their condos. Well you offer them Continue Reading »

Tags: Condo News, Overlake

There is a free downtown condo tour so potential buyers can see the latest new developments and conversions that are or will be available in the Bellevue Condo market. They are also providing participants with a complementary shuttle service to take you from one sales center to the next.

Buyers should put their realtors name on the sign-in forms, so they can be represented and have a realtor of their choosing to represent them. Many projects have restrictions on your realtor representing you if you did not include their name on the first visit and registering is a way for them to monitor this.

The Seattle/Bellevue Condo tour provided me with this press release:

Fisher Communications is proud to announce that the Seattle Condo Tour is back and Continue Reading »

In a project update from the city this month for the proposed East Link project,  which would connect the light rail from downtown Seattle to the Eastside the Sound Transit board is reviewing options on the content and timing of a future Ballard measure.

Why are they doing this,  well they believe we will have an additional 1.2 million more residents by 2030.  I wonder where all these new residents are going to live.

Tags: Bellevue Light Rail, Transportation

The Department of Housing and Urban Development released loan limits for the Bellevue 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 »