Tag: condominiums

VA Changes Approval Process for Site Condos in Michigan

Filed in Codes and Regulations, Housing Finance by on May 29, 2018 6 Comments
VA Changes Approval Process for Site Condos in Michigan

In an important victory for NAHB and Michigan home builders, the Department of Veteran Affairs has announced a major change that will waive VA’s site condo approval process for single-family detached homes in the state of Michigan.

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FHA Eases Condo Owner-Occupancy Requirements

Filed in Housing Finance by on October 27, 2016 1 Comment
FHA Eases Condo Owner-Occupancy Requirements

New rules announced today will lower owner-occupancy requirements for existing condominium developments from the current 50% to 35% if they meet certain capital reserve and documentation requirements. The new rules take effect immediately.

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FHA Proposes New Condo Approval Rules

Filed in Codes and Regulations, Housing Finance by on September 28, 2016 1 Comment
FHA Proposes New Condo Approval Rules

The Federal Housing Administration is proposing new rule for condominium developments that the agency says is intended to be more flexible, less prescriptive and more reflective of market conditions.

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Multifamily Market Remains Steady in 3rd Quarter

Filed in Construction Industry, Multifamily by on November 19, 2015 0 Comments

Multifamily builders and developers continue to report that the market is doing well. The Multifamily Production Index increased one point to a level of 56 for the third quarter of 2015, making this the 15th consecutive quarter with a reading of 50 or above.

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FHA Announces Condo Policy Changes

Filed in Homeownership, Housing Finance by on November 13, 2015 2 Comments
FHA Announces Condo Policy Changes

The Federal Housing Administration has announced changes to FHA condominium policies that NAHB has been pushing for.

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Going Back to Class: The Vintage Advantage

Filed in Awards, Councils & Committees, Design, Multifamily by on November 4, 2014 0 Comments
Going Back to Class: The Vintage Advantage

After two decades of commercial use, developers saw the former Edmonds School’s potential as condominiums. They restored the building’s original features – exposed brick, 7-inch wide plank floors, double-height ceilings with 14-inch custom base molding – and repurposed the space into 20 condominiums, winning them honors in the 2014 NAHB Pillars of the Industry awards program.

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