The budget season for 2026 is here, and Washington State community associations (HOAs and Condos) are facing unprecedented financial pressures. From Seattle to Blaine, boards must be prepared to enact significant assessment increases, driven by surging regional costs and the state’s changing legal landscape. If you are a unit owner in the Pacific Northwest, expect [...]
Across the thriving metropolitan areas of the Pacific Northwest, particularly in King, Skagit, Whatcom and Snohomish, condo buildings are visibly aging. The mild, yet persistent, damp climate of Western Washington accelerates the deterioration of building envelopes, leading to systemic issues like moisture intrusion, failing siding, and deck rot. This structural decay—referred to as deferred maintenance—is [...]
The 2026 changes to the Washington Uniform Common Interest Ownership Act (WUCIOA), primarily through Senate Bill 5129 (SB 5129), do not generally impose new reserve study requirements on most small associations in 2026, but they do significantly alter the criteria for a small plat or miscellaneous community to be exempt from many WUCIOA provisions, including [...]
For condominium and homeowners associations, strategic winter planning is crucial, especially when budgeting for services like snow removal. Tools like the Farmers' Almanac, with its long history of weather predictions, can offer valuable insights. This past winter, the Almanac forecasted a "wet and cold" season for the Pacific Northwest, influenced by La Niña, predicting a [...]
Fannie Mae and Freddie Mac, two government-controlled giants of the mortgage finance world, have been under federal conservatorship for nearly 17 years. But the idea of privatizing these entities is gaining traction again in Washington, D.C. This raises important questions about the potential impact on homeowners in Washington state. Why are Fannie and Freddie so [...]
Rising Association Fees: A Growing Concern for Washington State Condominium Owners Condominium owners in Washington State, like their counterparts in Florida, are grappling with the increasing burden of rising association fees. As buildings age, the costs associated with maintaining common areas, elevators, roofs, and other shared amenities inevitably soar. This trend is exacerbated by unexpected [...]
Securing a mortgage for a Washington condo requires more than just good credit and income. Fannie Mae, the major buyer of mortgages, has strict guidelines that impact loan availability. One key factor for Fannie Mae approval is the condo association's reserve study. A Washington state reserve study analyzes upcoming expenses for major repairs and replacements [...]
Fannie Mae and Freddie Mac have tightened their requirements for condo financing in 2024, especially regarding financial stability and reserve funding. Here's a breakdown aligned with your previous text: Condo Reserve Fund Standards: Minimum Reserve: While a 10% rule of thumb exists, Fannie Mae and Freddie Mac now require a minimum reserve amount based on [...]
We had a board member who called us with this question recently. The answer is Yes, in most cases, condominium/ homeowner association CC&Rs (Covenants, Conditions, and Restrictions) are legally binding. Here's why: Contractual agreement: When you purchase a condominium in a Washington State association, you agree to abide by the CC&Rs as part of the [...]
The governing documents of a homeowner or condominium association in Washington State are important legal documents that outline the rights and responsibilities of homeowners and the association. They are typically comprised of four main documents: Declaration of Covenants, Conditions, and Restrictions (CC&Rs): This document establishes the fundamental rules and restrictions that apply to all homeowners [...]