Kirkland Juanita Condo
Real Estate around Seattle
Kirkland Juanita Condo | Sold
You will sit in the cat bird seat of this top-floor end unit at Kirkland Place. Enjoy the results of a $3 million update, including new siding and windows. Inside there’s new carpet and fresh paint throughout. Enjoy the green space from your balcony. Relax pool side. (continued below pictures)
Take a walk to Juanita Village and Juanita Beach Park. Supermarket, restaurants and coffee shop are a block away. Bus stop is at the street. Park & Ride and I-405 are less than a mile away. This is the perfect location. Cats and dogs allowed (under 30 lbs).
Kirkland Juanita Condo – Facts and Figures:
- Complex built in 1985
- Renovated in 2005
- $3 million Upgrades completed in 2013
- No special assessments
- Home Owner Dues $382/mo
- 2014 Taxes $1,535
- Third Floor End Unit
- 968 square feet
- 2 beds, 2 full baths
- View of Green Space
- New Carpet
- New Paint
Condo: the affordable first-time home owner option
Because of the shared ownership of the “common” areas, condos have always been more difficult to finance than homes. At the same time, condos were, and still are, the affordable entry-level to first-time home ownership. This is true for any Kirkland Juanita condo.
Condos and the changing FHA loan process
The low down payment requirement – currently 3.5 percent- make FHA insured mortgages the favorite forms of financing for first-time buyers. Lenders bear less risk because FHA will pay the lender if a homeowner defaults on the loan. However, borrowers must meet specific FHA requirements to qualify for FHA insurance. For condo buyers there is another hurdle: the condo complex has to be FHA approved.
Until recently a lender could obtain a so-called “spot approval” for a specific condominium unit in an otherwise not FHA approved condominium complex. The criteria for such an approval were complex and the outcome uncertain. Still, it could be done. Now, new rules are in place.
Unfortunately, this Kirkland Juanita condo – Kirkland Place – is at the time of this writing not FHA approved.
Gerhard’s Kirkland Listings
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