On July 20, 2010,
in Buyers, Home improvements,
by Aaron Moore
On March 12, 2010,
in Buyers,
by Aaron Moore
Yesterday I had the opportunity to review the CC&R’s for a client who is purchasing a condo in Eastlake.
The first thing I look at is the condominium resale certificate. This provides you with a bunch of different items including if there is a first right of refusal, current monthly assessment or HOA dues, any special assessment (big repairs to the condo building), delinquent assessments(for all units), delinquent obligations(unpaid bills for the building), fees and fines(lists what you could be fined for), anticipated repairs or replacements (anything that the reserve fund has been allocated for), judgments or lawsuits(what and why), pending lawsuits (how much and why), if there have been any alterations or improvements to the unit, occupancy (number of primary, second homes, rentals, and commercial), code violations (health or building), leases (should be fee simple) , completion of construction (is there any additional phasing planned), conversion (from new construction or apartment), financing approval (FNMA, FHLMC, VA, or FHA) non-conforming use (should not be non-conforming).
So after I go through all of these items I want to make sure that there is nothing funky to hinder the resale of the unit for my buyer. Lucky for me all of the items are in good working order. I can definitely say that I have seen much worse including my own HOA.
Next on the list to review are the CC&R’s and this lists the governing documents that dictate how the homeowners association operates and what rules the owners, and their tenants and guests must obey. These documents and rules are legally enforceable by the homeowners association, so you must make sure there is nothing too wild to make your home ownership experience into a big headache. For example can you turn you condo into a rental? Most places with have a set number in the bylaws. After getting through the CC&R’s there was not anything out of the ordinary.
Moving on to the financials of the HOA. You will get to see all the reserves and how they spend your hard earned money. How the budget is set and the profit and loss for the last couple of years. If the building is in the red and losing money each year you will want to get out the deal immediately. Good for my client the building is run well and is in the black.
Finally I took a look at the minutes for the HOA meeting for the last couple of years. Here you get to see what people are complaining about and how the decisions were made to make improvements. It is good to see that everybody seems to be getting along because who wants to move into a place where everybody hates each other. You will also want to check to see if there have been any break ins or thefts to make sure the building is being secure.
On March 3, 2010,
in Home improvements,
by Aaron Moore
Everyday I would walk into my place and I would stare at the ugly popcorn ceiling. Since the Internet is such a powerful tool I did a little research and was able to figure out that it was a pretty straightforward process to remove. The key element is the prep work so you don’t let the mess get out of hand. Lesson learned on day 1 was that make sure the walls and floor was completely covered in plastic. I used painters plastic since I will use it again to paint once the work is done. Another lesson learned on day 1 was to keep the ceiling moist so that would help keep the dust to a minimum and made the removal process quite a bit easier.
Day 1 Photo of removal process
On Day 2 I was a little more prepared for the mess and did about twice the work in half the time because I let most of the prep work I did the day before up. So the only prep work was covering the floor which if you tape to the plastic to the floor made the clean up process clean and simple so I could spend more of the time getting this damn popcorn off.
Day 2 photo
Day 3 I was able to finish the majority of the popcorn removal process. Some key lessons I learned along the way wad having the proper equipment including respirator, eye protection, long sleeves, and tons of plastic to cover everything really helped keep things in order so I wasn’t sitting in a pile of popcorn with my hands in the sky screaming. If this is something you want to tackle it is doable just do your research and get your ceiling tested for asbestos before you start.
Day 3 photos
Day 3 after cleanup
On February 22, 2010,
in Home Tours,
by Aaron Moore
This last weekend I decided it was such a clear day so why not go out and take a look at some spectacular view properties. I have always loved the view from alki so West Seattle it was. After looking through the NWMLS for a quick second. I found 3 properties that were a must see. 1418 Palm Ave SW Seattle, WA 98116, 2121 Bonair Dr SW Seattle, WA 98116, and 3312 Beach Dr SW Seattle, WA 98116. Listing sheets in hand check, little key that lets me into the places check, phone check, keys and wallet check. Out the door and ready to hit the road. I jump on 99 south and I am in West Seattle in about 10 min from downtown. Pretty reasonable commute.
I pull up to the first place 1418 Palm Ave SW Seattle, WA 98116 and it is surrounded by big beautiful homes. The home is a little eclectic with its art deco kitchen and interesting wall paper but the view quickly reminds me why I made the journey in the first place. Unbelievable 180 degree from magnolia to the shipyard.
View is from living room and window makes perfect picture of downtown
Second on the list was a ultra modern townhouse that was perched above all the hustle and bustle of the alki waterfront. My favorite part of the home was the rooftop deck that had unmatched views of the sound and olympic mountains. The downfall of this property is that it only appeals to someone who is looking for modern. Not very kid friendly with its open steel staircase to the concrete floors. I could never live her but it is pretty cool nonetheless. View is from the kitchen.
Final stop on the spectacular view tour was a home located across the street from the beach. Stellar location within walking distance to many shops and restaurants. Cool features of this place include an elevator, parking for 4+ cars, 3 view decks, and a top floor entertainment room. The only downfall I saw was the kitchen was a little small for home this sized. In the grand scheme of things this home is downright awesome. View is from the main floor family room. 
On December 22, 2009,
in Buyers,
by Aaron Moore
On December 4, 2009,
in Buyers,
by Aaron Moore
With the first-time homebuyers tax credit extended until April 2010 and interest rates at historic lows, it has never been a better time to invest in your first home. This will be the most important investment in your future. So please join me to help you get educated about the market and the process.
In this educational webinar, I’ll be walking through the complete home-buying process step-by-step from getting pre-approved to close. I will also touch on the current market conditions.
The 6-step game plan will include:
1) Getting Pre-Approved
2) Starting Your Home Search
3) Making an Offer
4) Getting a Home Inspection
5) Closing the Deal
6) Current Market Condition
Looking forward to seeing you there! Feel free to pass this along to anyone who may be interested.
Register Here https://www1.gotomeeting.com/register/569245081
On December 2, 2009,
in Buyers,
by Aaron Moore
On November 18, 2009,
in Buyers,
by Aaron Moore
The President has signed the Homebuyer Tax Credit legislation, extending & expanding the tax credit. Legislation includes some modifications to the existing tax credit which will become effective December 1st. The National Association of Realtors has created written materials below explaining the original and modified Homebuyer Tax Credit.
