Riverstone Condos in Bellevue?

[mukoh]

LHR,
The russian sandwich shop is a death trap though. At least two very serious food poisonings and investigations by the health district.

[perfectfire]

The Crossroads is a weird place. You got the giant chessboard and other chess games going on. Right next to that you have Magic/Pokemon CG/D&D games going on. Then you have the AARP folk music stage in front of Joann's. One time I saw a group of women in front of Half-Price Books.

They've already lost a couple lessees. The Chili's has been gone for months and that huge shoe store is gone too. The Circuit City will be gone soon.

[Lake Hills Renter]

[Pndscm]

[perfectfire]

Has Riverstone finally ? A google search turns up several links for Riverstone Bellevue Apartments, but I don't see anything about apartments on their sign or website, plus they still have some units for sale on the MLS. I guess this is a stealth repartmenting.

[RottedOak]

[Lake Hills Renter]

I wonder how many (or few) people would have bought if they'd known half the complex would return to rentals. As we all know, nothing makes your home value suffer like the proximity of dirty renters.

[rose-colored-coolaid]

[perfectfire]

Their sign has a new red sign attached to it touting their hot new bank pricing.

[lenticular]

Yes, they have slashed the prices dramatically. And I am under contract now for one of those units (made an offer 6/28).
I wonder if there are any other current Riverstone buyers here and how is your experience with the preferred lender. I was surprised to see mortgage insurance in my GFE. I am paying 25% down, and my research shows that according to Homeowners Protection Act of 1998 the lender can't charge mortgage insurance in this case. My lender says they have to charge it, because there is less then 50% of units currently sold, so it's considered a high risk loan. He keeps saying that they are currently reviewing this requirement, but they have not backed out yet. Please share your experience.

[hesotriflin]

[Puget Sounder]

I wonder how well the Taing clan of flippers likes how their investments at the Riverstone turned out. Can't be too much joy there.

[lenticular]

[perfectfire]

So they managed to sell 51 condos out of 98 so far. That's more than 50% after almost 3 years on the market! Yay!

But hold on, how many of those are flips or "investments"? Well, we already know of several that were bought as flips near the peak and then just today I saw one listed for rent on some internal company listing page. Also, one unit is owned by ASPI ENTERPRISES INC.

[lenticular]

perfectfire: Well I know my unit is my primary residence. My neighbors are also owners. Living happily since August 2009. By the way, got a free ride not paying HOA dues until January 2010 (that's when the HOA was formed). So what's wrong with "ASPI ENTERPRISES INC" anyway?