Seattle Mortgage Planner

I wish I had the condo that I bought in Des Moines almost 10 years ago! I understand your concern and condos do tend to be the last to appreciate and the first to depreciate. If you're planning on reselling soon (in a couple years) I would maybe not consider a condo because lending guidelines are tightening up. If you're going to retain the condo and either live in it or keep it for a rental, it could be a good value.

Why would you want to live in a neighborhood you're not fond of? I would question that...or at least really consider it. This is where you'll be coming home to every day after work. I would assume you'd want to like or enjoy where you live. Are there other areas along the Light Rail that you would appreciate more like Columbia City? (I'm not familiar with the Othello Station or Rainier Valley). - Sun Jun 15 2008, 15:46

You posted this question a while ago, I'm curious what you decided to do? - Sun May 25 2008, 18:06

I agree with Ardell's answer below. Natalie, I would try renting for a while first to get to know various communities. Tacoma to Everett is a huge span. I recommend finding a place to rent and getting preapproved so that when a home comes along in your price range, you'll be able to move on it. You might try renting around Federal Way (recently written about in Seattle Metropolitant Magazine as a place to buy). - Sun May 25 2008, 18:04

Natalie,
You could always consider renting for 6 months to a year and visit all the areas between Tacoma and Everett (it's a significant span). I also recommend getting preapproved with a Mortgage Professional in Washington so that you can see what your payment will be and what programs are available.

Good luck! - Sun May 4 2008, 20:04

Zero down loans these days will probably mean the seller is participating in a DPA program, such as Nehemiah. If there are multiple offers to consider, and the only difference is down payment, I would assume the seller is going to feel more confident in a transaction they feel has the best odds of closing. Down payment would be a factor, as well as having a strong preapproval letter from a qualified lender to go along with the offer. - Sun May 25 2008, 17:59

Thanks Bruce! I'm also interested because we have several "street ends" parks in my community of West Seattle. I'll check out your links. - Sun May 25 2008, 17:56