condo resale disclosurescondo rules and regulationsHomeowner Associationsneighborhoods June 27, 2025

Does A Homeowner Association Fit Your Lifestyle?

townhomesMost condominium communities are governed by a homeowner association (HOA) but single family residence communities can also have community associations.

HOAs are self-governing, made up of homeowners serving/volunteering on a Board of Directors, often with the guidance of a professional association management company hired by the HOA. The association management company oversees repairs/improvements, services and maintenance, accounting, collection of HOA fees and payment of taxes, utilities, repairs, emergencies, etc. The HOA enforces rules and regulations that serve to preserve the appearance, quality and safety of a community.

HOA rules and regulations are designed to maintain a desirable quality of living, a safe environment for owners and guests and protect community property values. While these rules are beneficial for all, not all owners (or tenants) may chose to abide by the rules. If an owner fails to comply with the rules or pay their association dues in a timely manner, there can be financial penalties or legal action by the HOA.

If you purchase a home with a HOA it’s important to review and understand the HOA documents. This package of disclosures, known as a resale certificate, must be delivered by the seller to a prospective buyer within a timely manner (per the contract). The buyer has a specified time frame to review the documents, obtain more information if needed, and approve the resale certificate documents. If disapproved, the buyer may terminate the purchase contract.

Resale certificate documents are pretty dry reading, but contain important information about the community’s financial health and reserves. Meeting minutes can disclose information about the past repair/maintenance history, future capital improvement projects (and potential assessments), rental caps or rental restrictions, lawsuits by or against the HOA or individual owners, etc.

Buyers should be sure HOA rules and regulations don’t impact how they intend to use the property. There may be restrictions regarding pets, driveway parking, home businesses, modifications to exteriors, etc. Buyers should also understand the financial impact of regular HOA fees, as the additional expense will be evaluated by a lender if obtaining a loan to finance the purchase.

The professional association manager and HOA Board of Directors work to ensure the community’s structures and common areas are maintained and attractive, repairs are completed in a timely manner and the quality and value of the community is preserved for the benefit of all owners. Ultimately it is the buyer’s decision whether living within the guidelines of the HOA will be fit their lifestyle.

affordable housingcondominiumcondominium speciaistDowntown Bellevuetownhouse May 2, 2025

Condos Come in Many Shapes and Sizes

townhomesThere is on one-size-fits-all condominium. Condos can be one level (known as a flat) in a low-rise, mid-rise or high rise building, or an attached or detached multi-level home.

Condominium actually refers to the form of ownership or the legal description of the property – how it is deeded. With the majority of condominiums, whether a flat or townhouse, you own the unit from the walls-in, and the legal description or deed designates the property as a condominium. When you purchase a condo it is individual ownership, like a single family home, but you only own the interior which includes walls, floors, fixtures, etc. Condo owners pay property taxes and insure only their individual home.

Condos have individual ownership but there will be shared ownership of common areas such as hallways, lobbies, parking structures, roadways, pools, playgrounds, community spaces, etc. Typically  a homeowner association and often a property management company maintains  the common areas. Owners pay a monthly assessment (homeowner dues) to cover the management fee, maintenance, master insurance policy, reserves for future repairs, utilities, common area property taxes, etc.

Townhouses sometimes blur the lines. Most are condominium ownership, but in some communities townhomes, whether attached or detached, can be deeded as single family homes. Depending on the governing documents of the community, owners may own the building and the land beneath the structure. In this case, depending on the legal description and governing documents, the owner may  be responsible for the maintenance and related expenses for the building and the land.

Before purchasing a condo it is important to understand how the ownership is structured, whether there are regular monthly assessments, what those assessments cover and if a homeowner association and/or professional management company oversee the maintenance of common areas, limited common areas, building exteriors, amenities, etc.

Living in a condominium is different than a single family home. There may be some compromise on privacy and space, but condos generally offer a more maintenance free lifestyle. There are often sought-after amenities such as parks, pools, designated pet areas, sport courts, etc. that you wouldn’t have with a single family house. There may also be rules and regulations regarding exterior alterations, pets, parking, etc. If a low maintenance lifestyle is appealing a flat or townhouse could be the right home choice.

Bellevue condominiumBellevue Real Estatebuying a homeDowntown Bellevuehousing marketliving downtownreal estateurban living February 14, 2024

1200 Bellevue Way/Downtown Bellevue – New on the Market

1200 Bellevue Way, a community of 49 attached homes, has a sought after location blocks from downtown Bellevue’s business district, celebrated shopping and dining and countless arts and entertainment venues. Homes have traditional brick architecture but inside you’ll find a contemporary layout with spacious open concept design.

The home’s main level provides ample living and dining space plus a well equipped kitchen. An oversize island provides additional seating space. The main level opens to a  large patio courtyard adding plenty of outdoor living/dining space. A floating  staircase leads to the second level where there’s a generous bedroom with a walk-in closet, full bath and open mezzanine loft, perfect for an office or additional living space. The primary suite, with a large sitting area, occupies the entire third floor. The spa inspired primary bath has a large soaking tub, glass enclosed shower, long vanity with glass vessel sinks and a large walk-in closet provides ample wardrobe storage.

The community is sited over a secure common garage. The home has two parking spaces (tandem) and two generous storage rooms. There are 12 dedicated guest parking spaces in the garage.

 

  • 2 bedrooms + mezzanine loft
  • 2.5 baths
  • 1,990 SF
  • 2 car parking in secure garage
  • built 2007
  • Price:  $1,775,000
  • Monthly HOD:  $620

View the virtual tour . . .

https://tours.dennonvisuals.co/2211481

Bellevue condominiumcondominium speciaistcondominiumsDowntown Bellevuereal estateRobin Myers/Condo Specialist May 11, 2023

Downtown Bellevue First Quarter Condo Market Statistics

2023 had a bumpy start. There’s been a lot drama and speculation regarding interest rates, the stock market, investments, employment, etc. While the eastside hasn’t been immune to these issues, the downtown Bellevue condo market has looked like a fairly normal spring market. Sales prices are gradually increasing, the difference between list price and sale price is narrowing and the days-on-market continues to decline.

 

DOWNTOWN BELLEVUE CONDO MARKET STATISTICS  –  2023 YEAR-TO-DATE

1st Quarter 2023
total condos sold in 1st quarter     25
average sale price                            $913,398
average days on market                 66
% of sale price vs. list price           97.7%

April 2023 sales
total condos sold in month          17
average sale price                          $970,382
average days on market               42
% of sale price vs. list price         99.35%

Current Pending Sales
total condo pending sales           14
average list price                          $1,186,986
average days on market              40

There are 42 condos actively listed for sale in downtown Bellevue with an average list price of $1,820,196. This includes several new construction pre-sale units that won’t be available for occupancy in the 3rd or 4th quarter of 2023. Removing the pre-sale units, there are just 28 homes available for occupancy within 30 days of closing escrow.

condominium speciaistcondominiumshousing marketreal estateRobin MyersWindermere Real Estate November 25, 2020

Matthew Gardner’s Housing & Economic Update

This week Matthew Gardner, Windermere’s Chief Economist, shares his thoughts on the latest US home sales data.

Single family and multi family home values continue to rise while available inventory levels continue to decline. What’s the news for condos? Condo prices are trending higher nationwide, up 10% year-over-year. It’s difficult to know how long this trend can be sustained as we close 2020. What could impact values next year? We may hit an affordability issue, which could push some buyers out of the market, and increasing inventory levels may create more selection for buyers but more competition for sellers.

I specialize in Bellevue’s condo and townhome communities. If you have questions about the market or what’s been happening in your community, call, text or email.

Happy Thanksgiving. While this year may be very different from years past, if you have an opportunity to safely share the holiday with family, enjoy the day. Be safe and stay healthy.

buying a homecondominium speciaistcondominiumsfirst time buyersreal estateRobin MyersWindermere October 26, 2020

New Construction, Existing Home Sales, Condos & Vacation/Resort Homes

Tight supply and increasing land/material/labor continue to contribute to rising home prices.

Matthew Gardner, Chief Economist for Windermere Real Estate, shares his thoughts on builder confidence nationwide, evidenced by a dramatic increase in sales of new construction homes and permit applications.  That continued buyer demand along with increasing construction costs are driving prices up. Sales of existing single family homes is also increasing, but even tighter supply is impacting prices in that market as well. Condo sales are up 9% nationwide (year-over-year) but there is a higher level of available condo inventory. That could be the result of condo owners taking advantage of low interest rates to make the move up to a larger home. The good news, that could free up condo inventory for first time or downsizing buyers. A surprise observation – sales of vacation and resort homes are up 30% nationwide.

 

 

 

 

buying a homecondominium speciaistproperty valuesreal estateselling a homeWindermere Real Estate July 29, 2020

How’s the Real Estate Market?

townhomesHow’s the Real Estate Market?

This is a question I hear a lot. Real estate was dormant this spring due to the coronavirus pandemic. Since mid-May the housing market has made a robust and positive rebound.

The number of buyers currently in the market far exceeds the available inventory of homes for sale. Why are so many buyers searching for homes? Record low interest rates give buyers more purchasing power. They’re taking advantage of those low interest rates to purchase a first home, move up to a larger home or, since we’ll be working from home/learning from home for many months to come, find a home that is a better fit for changing live/work/learn lifestyles. We are fortunate to live in an area with a strong economy. Local and national companies continue to grow and recruit employees, but that growth is bringing more home buyers to the area who want to purchase a home.

Lifestyle needs change . . . job and workspace needs change . . . housing needs change. Right now housing inventory is the biggest challenge for buyers looking to purchase a home. It’s a competitive market. The shortage of homes is definitely tipping the scale in favor of sellers, and that trend is expected to continue through the end of the year.

If there’s a change or a move in your future . . . how can I help?

 

 

 

 

condominium speciaistcondominiumslifestyleurban livingWindermere Real Estate July 15, 2020

Ideas for Creating Deck or Courtyard Privacy

courtesy HGTV

With summer weather finally here we’re all spending more time outdoors, but with the confines created by the COVID-19 pandemic, we’re spending a lot more time outdoors at home. Whether you live in an urban high rise or townhouse, creating privacy on your deck, patio or courtyard can be challenging.

 

HGTV has provided some interesting and affordable options available for adding a privacy screen to your deck. If you’re creative, there’s a lot of inspiration here for designing a customized screen to fit your space and decor.

 

https://www.hgtv.com/outdoors/outdoor-spaces/best-outdoor-privacy-screens

 

 

lifestylereal estateurban livingWindermere July 9, 2020

An Online Furniture Shopping Newbie

Robin-MyersI don’t do a lot of online shopping unless its for a product I’ve purchased before or from a retail store I’m familiar with and trust. Buying groceries online, a t-shirt from Nordstrom or replacing a kitchen item from Amazon is a safe bet. I’ve never made a significant online purchase like furniture.

Replacing the ottoman in front of my sofa with something more contemporary and more sturdy has been on my list for some time. A glass of red wine sitting on a tray on an upholstered ottoman is a disaster waiting to happen, especially when you have a dog. With working and spending more time at home in recent months, and maybe drinking wine more regularly, the physical and visual issues of the ottoman have been more noticeable.

Welcome to Wayfair  –  there are so many choices. After extensive research (probably to much) I parked several glass coffee tables in my shopping cart to ponder. I finally selected a table that checked all the boxes  –  not too large, contemporary, glass top and interesting style. When I was finally ready to to push the “purchase” button, I was delighted to find it was on sale for the Memorial Day holiday weekend sale. Awesome!

The table arrived a few weeks ago. It was easy to assemble and it’s perfect! Fits the space exactly as expected, the glass top visually makes the room feel larger, it’s a nice update to the room and its a more stable spot for a glass of wine. Couldn’t be happier. I’ve been thinking about new bedroom nightstand lamps . . . there could be another online shopping success story in my future.

 

 

Robin Myers is a condominium specialist with Windermere Real Estate/East, Inc.

 

 

BellevuecondominiumsDowntown Bellevuereal estate January 17, 2020

Bellevue’s Condo Market is Off to a Quick Start This Year

Today’s Seattle Times (link to the article below) provided a review of the region’s 2019 real estate market  comparing sales activity and property values to the prior year. While prices in the county were flat throughout the year, the last quarter of 2019 bucked that trend with inventory selling quickly and multiple offers more common.

There are currently only 26 condominiums listed for sale in all of Bellevue. Since January 1st, 11 new condos were listed for sale  –  all have sales pending and many received multiple offers. What’s driving the spring market?

Low mortgage interest rates. Fannie Mae conforming loan limits increased to $741,750 in King County. (Jumbo loans will have slightly higher interest rates.) Conventional and FHA loan programs offer low down payment programs (3%, 5%, 10%) for qualified buyers, making it easier to purchase a first or move-up home.

Amazon is scheduled to start moving employees into the former Expedia office tower in downtown Bellevue this summer. Amazon has also signed leases for several office towers currently under construction that will be completed in the next 9-24 months. Employees who know their jobs will move from Seattle to Bellevue are already searching for homes in Bellevue.

Buyers want shorter commutes, and they’re willing to make compromises for less car time and more personal/family time. There are dozens of condo communities within a 15 minute or less commute to Bellevue’s central business district as well as Kirkland and Redmond workplaces. Those communities are in high demand.

 

The “spring” market is off to an early and active start. The next few weeks should set the pace and reveal what buyers and sellers can expect in the coming months.

https://www.seattletimes.com/business/real-estate/while-regions-median-home-prices-rose-last-year-king-countys-took-a-dip-but-it-wont-last/?utm_source=email&utm_medium=email&utm_campaign=article_inset_1.1