Heads Up for SF Bay Area Realtors

My beloved daughter is an attorney and a family law specialist in San Mateo. I contacted a realtor in the SF Bay Area on LINKEDIN about helping with VA/FHA Condominium Project approvals. I noticed the realtor was from the same community as my daughter.

I mentioned my daughter was an attorney and the realtor was kind enough to accept her contact information. He noted that the number of people getting divorced was increasing and he would refer my daughter as needed. He also said the market in the SF Bay Area was changing and that VA/FHA Condominium Project approvals would be helpful going forward.

I am aware that young people are leaving the SF Bay Area and moving to Arizona to purchase their first home. I am available to help first time buyers with FHA project approvals and/or our veterans so that young people can stay in the SF Bay Area.

Once a Project is VA approved, the entire Project becomes available to veterans. The Project remains on the VA approved list until removed by the VA. Once a Project is FHA approved, the entire Project becomes available to FHA buyers. The FHA approval is good for three (3) years.

VA does not have an owner-occupancy requirement for an existing project where the developer is no longer marketing Units for sale. VA will also approve mixed-use projects (residential and commercial).

FHA has a 50% owner-occupancy requirement that can be reduced to a lower amount subject to additional requirements. FHA will approve mixed-used projects where the commercial component does not exceed 35% of the overall square footage of the Project.

I would like to thank the fine people of Arizona (as well as those folks from Nevada and Utah) who decide to visit San Diego from Memorial Day Weekend (through the Summer months) and ending on Labor Day Weekend. You are all welcome.

If, after your visit, you decide to move to San Diego and buy a Condominium (as a veteran or as a first time buyer with FHA financing), you are also welcome to call my office for assistance. 619.531.8858.

(After I wrote the above, I was contacted by a realtor from Danville. My daughter (while walking the family dog) explained that Danville is in the East Bay part of the SF Bay Area. The realtor wanted to help a client who works for Amazon and could qualify for an entry level condo in the range of $400,000. He noted that most affordable Condo Projects were not FHA approved since Associations and the Board of Directors were not sure how to secure FHA approval. I explained I could help get this done).