Dasmarka Real Estate

With so many urban centers being classified as "declining markets," it is now more important than ever to be as familiar with every possible option for obtaining affordable financing for our borrowers and buyers. Because of the new requirements issued by Fannie Mae, Freddie Mac and the private mortgage insurers, every loan officer and realtor needs to know what it takes to get FHA financing for a borrower buying a condominium unit.
Loan officers: it's your business.
Selling agents: knowing will help you market your condo listing to a larger universe of qualified buyers and, if the condo is not eligible, save you the time of having to show a unit to unqualified buyers.
Buyers' agents: the same is true -- no sense in showing someone a condo in a project you know has by-laws containing a right of first refusal. Here's some history and the basics.
Prior to 1996, only condominiums in HUD approved condominium developments were eligible for FHA-insured mortgage financing. Because of all of the red tape involved in getting condo approval, combined with the easy financing terms available earlier this decade, relatively few of those developing or converting condominiums in the last ten years obtained project approval from the HUD. In the Renton WA, for example, a recent search of that zip code on the HUD "condominium lookup" engine revealed serveral approved project . Fortunately -- and I can't be sure whether it was an act of foresight -- in 1996 HUD issued a rule permitting the insurance of loans secured by condominiums in non-approved projects on a "spot approval" basis.
Here's what every loan officer and salesperson needs to know:
To be eligible for spot approval, 1) the project must be complete, 2) it must have been in the hands of the association for at least one year, 3) 51% of the units must be owner-occupied, 4) there can be no legal restrictions on conveyance of a unit, e.g. right of first refusal; 5) the owners association must provide evidence of appropriate insurance, 6) no more than 10% of the units in a project with 30 or more units may secure FHA insured mortgages and no more than 20% in a project with less than 30 units; 7) 90% of the units must have been sold, 8) no single entity may own more than 10% of all units, and 9) the units must be owned in fee simple or an eligible leasehold interest. A copy of the relevant Mortgagee Letter can be found here.
Lonnie Snyder
REALTOR®
Keller Williams Realty Southeast Sound
Phone: 206-406-2710
E-Mail : snyder@kw.com
Website: http://www.callsnyder.com/
Blogsite: http://renton-real-estate.blogspot.com/
Lonnie Snyder is a full time real estate agent and REALTOR® with Keller Williams Realty specializing in Residential Real Estate for buyers and sellers in Washington’s Kent, Renton, Newcastle and South Bellevue.

Brick foundations are usually seen in older homes. It is no longer cost effective to install brick foundations and this type of foundation is often not as durable compared to other modern installations such as poured concrete or cement block. A brick foundation is installed in much the same way that a solid brick house is built except it is below grade and should rest on a solid footing. It is not uncommon however that some of these foundations were not placed on footings and now may be settled badly. Brick foundations are inspected carefully for the particular defects that they are prone to such as, settling, water seepage and deterioration of the bricks themselves. Many brick foundations have been sealed with wire lathe and cement stucco giving them a look of a poured concrete foundation.
You should always use a qualified home inspector.
Lonnie Snyder
REALTOR®
Keller Williams Realty Southeast Sound
Phone: 206-406-2710
E-Mail : snyder@kw.com
Website: http://www.callsnyder.com/
Blogsite: http://renton-real-estate.blogspot.com/
Lonnie Snyder is a full time real estate agent and REALTOR® with Keller Williams Realty specializing in Residential Real Estate for buyers and sellers in Washington’s Kent, Renton, Newcastle and South Bellevue.

WOW 3Bed 2 Bath for only $199,950
975 Aberdeen Ave NE C-303 Renton WA. 98056
Can't belive what a great condo we have here at Renton Ridge. Call today to see it for your self. 206-406-2710.


Directions: Go East off exit 5 of I-405. Turn R onto Sunset Blvd. NE. Make a sharp R. onto Aberdeen Ave NE (At blinking yellow light) Renton Ridge is in 1/2 mile on the left. Take 2nd Renton Ridge entrance. go R.









Beautiful top floor condo recently remodeled. Features include new flooring, designer paint, light fixtures and stainless steel appliances. You will love the open kitchen; large master bedroom with walk-in closet; vaulted ceiling, and view of greenbelt. Stackable washer and dryer and all appliances are included. Convenient to the freeways and shopping. Club house with an outdoor pool, athletic court, play ground. Perfect for the first time home buyer wanting an upscale home. 1 year AHS Warranty
Call me to see this wonderfull home.

I pull out all the stops to sell your home.


Lonnie Snyder
REALTOR®
Keller Williams Realty Southeast Sound
Phone: 206-406-2710
E-Mail : snyder@kw.com
Website: http://www.callsnyder.com/
Blogsite: http://renton-real-estate.blogspot.com/

Lonnie Snyder is a full time real estate agent and REALTOR® with Keller Williams Realty specializing in Residential Real Estate for buyers and sellers in Washington’s Kent, Renton, Newcastle and South Bellevue.

Stone foundations are usually seen in older homes. They were seldom used in construction dating after WW II. Stone foundations can be prone to settling and water seepage. A unique problem to stone foundations is that the foundation itself can be a source of Radon gas, which is an environmental hazard. This type of installation is also prone to such problems as settling and water seepage. A stone foundation when maintained well is a very aesthetically appealing installation, but must be inspected carefully. Joints wear quickly because they are usually not smooth and uniform. Shifting or settling can occur because of the uneven nature of stones.
You should always use a qualified home inspector.
Lonnie Snyder
REALTOR®
Keller Williams Realty Southeast Sound
Phone: 206-406-2710
E-Mail : snyder@kw.com
Website: http://www.callsnyder.com/
Blogsite: http://renton-real-estate.blogspot.com/
Lonnie Snyder is a full time real estate agent and REALTOR® with Keller Williams Realty specializing in Residential Real Estate for buyers and sellers in Washington’s Kent, Renton, Newcastle and South Bellevue.

One of the fun things I get to do in my job is see all the wonder homes and the great personal touches that people make to there homes.

Living in the great state of Washington with the hills, trees, and water there are wonderful ideas and a few crazy ones that I get to look over.

Well we all know that Real Estate is tough for a lot of people right now. I came across this story and wanted to pass it on.



You can check out there ebay ad here.

Great people we all hope the best for them. Hope you enjoy looking at the one of a kind cave home.
Lonnie Snyder
REALTOR®
Keller Williams Realty Southeast Sound
Phone: 206-406-2710
E-Mail : snyder@kw.com
Website: http://www.callsnyder.com/
Blogsite: http://renton-real-estate.blogspot.com/
Lonnie Snyder is a full time real estate agent and REALTOR® with Keller Williams Realty specializing in Residential Real Estate for buyers and sellers in Washington’s Kent, Renton, Newcastle and South Bellevue.

There are some good deals right now. Here is a list of homes that are for sale right now in the Renton WA. area that are @250,000 or less.

Click Here for list.

If you have any questions please call or email me.

Lonnie Snyder
REALTOR®
Keller Williams Realty Southeast Sound
Phone: 206-406-2710
E-Mail : snyder@kw.com
Website: http://www.callsnyder.com/
Blogsite: http://renton-real-estate.blogspot.com/
Lonnie Snyder is a full time real estate agent and REALTOR® with Keller Williams Realty specializing in Residential Real Estate for buyers and sellers in Washington’s Kent, Renton, Newcastle and South Bellevue.

Officially titled the American Reinvestment and Recovery Act of 2009, it is the largest spending free-for-all in history. But does it do anything for housing?
There are really only two provisions that address housing.
First it allows the temporary increases in conventional loan limits for high cost areas to remain.
Secondly, it expands the First Time Homebuyer Tax Credit.
The First Time Homebuyer Tax Credit was already in effect last year but was set to expire July 1, 2009. It has now been extended to December 31, 2009. Here is how it works:
- Up to an $8,000 tax credit for a first time home buyer that purchases a primary residence.
- A "first time home buyer" is someone that has not purchased a home in the past three years but they are allowed to have owned a home prior to that.
- There is an income cap of $95,000 for a single filer and $170,000 for those filing jointly (modified adjusted gross income).
- You can decide to apply the tax credit to your 2008 return or your 2009 return. - This is not free. You have to pay the money back by getting a smaller refund each year until it is repaid.
- Uncle Sam is not going to be mailing anyone an $8,000 check that buys a home.
- State housing loans are now eligible for this program