Everything You Need To Know Before Buying A Condo - New Rules Change The Condo Market

Christian: [0:03] Welcome to another episode of the Awesome in Seattle podcast. This is your host, Christian Nossum, with the Awesome Nossum Group at Wilson Realty Exchange, Inc, and today we have a very special guest, and the reason that he's here is because he knows his stuff when it comes to helping buyers buy a condo. So we have the one, the only, Mr. Dan Keller, New American Funding.

Dan: [0:24] Feel like I've never met you guys. I'm super uncomfortable here right now.

Christian: [0:31] Only been working together for, like, you know, over a decade.

Dan: [0:33] Yeah, you and I. Yeah. And I think Joanna is the most friendly person I've ever met in my life, so it's all good. Awesome. This'll be fun.

Christian: [0:40] So today we are talking about some major changes in the condo lending regulation space. Now, these all took place September 2023. Mm-hmm. They really haven't got a lot of airplay, not a lot of headlines, and it's pretty shocking to those that understand what these changes are. So we did an episode about a year ago- Mm … almost a year ago, going over these changes, but that was geared more towards sellers and current owners of condos and the association. Today we're taking a different angle, a different approach, and we are actually helping you, the buyer of a condo, really understand how this affects you. And it is. It's going to affect you, so you really are gonna wanna listen to this. So our oth- other guest here today is the awesome agent- JoAnna Beecher.

Joanna: [1:27] I was hoping you were gonna say me. Okay. Hello.

Christian: [1:31] She is here as well as my co-host, and, uh, and she is with the Awesome Awesome group as well, so.

Dan: [1:37] AKA

Christian: [1:37] Condo Queen. Condo Queen.

Joanna: [1:39] Yes. She's been

Dan: [1:40] killing it. Yeah. You are.

Joanna: [1:42] Well, the Condo Queen is here to ask you- Dan, can you give a brief background- Mm-hmm … on why these rules were put into place and what, you know, what the new rules are?

Dan: [1:54] Yeah. Mm-hmm. Well, the really good thing about today is you and I have worked on a lot of condos together, right? And so we've got not only the book, the rules, the regulations, the guidelines, but we have the experience, okay, for perspective. So why they got put into play, uh, what is this, a year- gosh, has it already been a year? 2020. Yeah. It's been over a year. Yeah.

Christian: [2:16] Yeah.

Dan: [2:16] So they had a condo collapse in, I wanna say Miami, Florida, right?

Christian: [2:22] Miami. Yeah. Miami. 2021 is when that happened.

Dan: [2:23] Yeah. Yeah. And it, and it was ugly, and, um-

Christian: [2:26] It was horrible. It was catastrophic. It was not a good thing.

Dan: [2:28] Yeah. There should have been processes and regulations in order to prevent that, okay? Mm-hmm. From people buying or during the buying process. And so Fannie Mae steps in and says, "Hey, we need to tighten up our condo guidelines," as if they weren't tight e- enough as it is. There was some loopholes, okay? Yep. The main loopholes were in insurance and deferred maintenance. Yep. So those are the two big things we want you as a buyer to listen to and pay attention to because this is gonna help you five years from now when you call up Christian or J- and JoAnna and say, "Hey, I need to sell," or, "We're looking to, to move up or move out," right? And those could get in the way of you and your resale value. And so let's go back to two years ago why these were put in motion. Because of the collapse, they found out… And there were other condo cases that came up that where they had issues or catastrophic-type issues. Mm-hmm. There was a lack of insurance.

Christian: [3:24] Yeah.

Dan: [3:24] So the master policy- Yeah, I remember you

Christian: [3:25] telling me- Yeah … there was one in California- Yeah. Yep … where there were wildfires- Yep … burned down the whole complex. It was $170 million complex. Yeah. And they had, like, a million dollars worth of r- rebuild coverage- Literally … or something ridiculous.

Dan: [3:38] 4 million in d- four or five million in coverage. Yeah. So severely underfunded, right?

Christian: [3:42] Yeah, yeah.

Dan: [3:42] Yeah. And they have found that all over the US. Mm-hmm. And so what they've done is they are r- they've just upped their, not only their awareness, but their audit of the master policy. Okay. The other thing is just, just, just structural. Like, are there bids for upgrades or repairs or renovations? Um, and if there are bids, then that's public knowledge. Mm-hmm. And so they wanna make that available not only to the consumer, the buyer, but also that's a part of the approval process now, too. Yeah. So, um, deferred maintenance is a big thing, hence those bids. Mm-hmm. And then so you've got 1A is deferred maintenance. Number 2, 1B would be any bids for deferred maintenance. Mm-hmm. And then the insurance master policy.

Christian: [4:28] Yep. And what are the amounts of the bids that cause a red flag that buyers need to be aware of? And so what we're talking about, so let's pretend like you need a new roof- Mm-hmm … on the complex. That's a shared expense between everyone in the condo. When that shared expense, when there's not enough funds in their reserve account, their bank account, to pay for it outright, they charge what's called a special assessment. Mm-hmm. Every unit gets charged a bit of money, their portion, to pay for that new roof. I know there is a number- Mm-hmm … so I'm gonna ask you, Dan. What is that number of special assessment? What's the amount?

Dan: [5:04] Yeah, without going into detail or too deep- Mm … let's just call it what it is. It's $10,000 per unit. Yep. Okay? So a great example, like you just mentioned, let's say there's five buildings. Mm-hmm. And there's 10 units in each building, so 10 times five is 50 units. Yep. The maximum number of repairs in that special assessment cannot exceed $10,000 per unit.

Christian: [5:29] Yeah.

Dan: [5:29] So it's just you're reverse engineering. The condo department is gonna do that at the lender. Mm-hmm. But we send out, there's a condo questionnaire that we send out in advance that really helps with us figuring out the state of that condo project- Yeah and that HOA.

Joanna: [5:42] Yeah.

Christian: [5:43] Yeah, and this is a big deal. I mean, this is why really buyers need to understand what they're buying into- Mm … because you are going into partnership with this HOA- You are … that you're buying into. Yep. While a condo is a less expensive opportunity to buy in a neighborhood, you're joining someone, the HOA, in the responsibility of taking care of that complex. And you wanna make sure- That's it … that it's a healthy, well-run, complex, organization.

Dan: [6:11] Yeah.

Christian: [6:12] Yeah. And these guidelines are in place to help them. Yep.

Dan: [6:14] They are. So- Before we get too deep too- Yeah … anyone listening to this is like, "Whoa, but I'm putting down 20 or 30 or 40%. I'm gonna be immune to this," 'cause that's the old adage, right? That's, yeah. If I put down more money, then the, the lender will look the other way. Uh-uh. No. Yeah. Nobody's immune to this. You could put down 90%, literally a ton of money, and it doesn't matter.

Christian: [6:32] Wow.

Joanna: [6:32] I think the only way you are immune to this in some way is if you pay cash.

Dan: [6:36] Mm-hmm.

Joanna: [6:36] But you're not immune to it when you sell.

Christian: [6:38] Yeah.

Dan: [6:39] Correct. Yeah. And that's e- even more risky in my opinion- Yeah … to pay cash for a non-warrantable condo, but

Christian: [6:45] yeah. And this, I'm gonna touch on this later, unless that's an opportunity-

Dan: [6:48] Yes, correct … Speaker: which we'll, we'll touch on that in a minute. Right. So since this is such big news, do you, are you seeing, 'cause obviously we're real estate agents. Mm-hmm. You are not, Dan. Mm. But you work with hundreds of agents across the Seattle/Puget Sound area. Do most agents in your opinion understand these changes? No. No. In fact, Joanna and I are working on a, a, a, a deal right now with great clients that you've shown probably 100 condos to, and I believe the listing agent had no clue. Yeah. Can I- And I talked with Joanna- Yeah … and Joanna's like, she was like, "Well, he thinks it's gonna be okay." And I'm like, "Wait, you listed a condo thinking it's gonna be okay?" So no.

Joanna: [7:28] I wanna say on that note, with the multiple condos that I have shown just this particular set of clients- The amount of agents that had- Yeah no clue. Yeah. No idea as far as the new HOA regulations- Mm-hmm … was shocking to me. The fact that my client, through working with Dan- Yeah … and myself, had more knowledge than-

Christian: [7:54] Yeah, yeah … Joanna: all of the agents put together. Mm-hmm.

Joanna: [7:58] I mean, that's, that's scary. Yeah. And, and I, in speaking with these agents, being shocked that they didn't have this information in their back pocket. Yeah. The, the amount of information they didn't have available to me and to my clients, or to anyone who was looking at this- Yeah … or their condos, was very surprising. And I just thought, "You're not doing your sellers their, uh, you're not doing your duty for your- Yeah … sellers." Yeah. And it was just, it was upsetting to me for their sellers.

Christian: [8:28] Mm-hmm.

Joanna: [8:29] Because there was just so many things that were in blind spots. Mm-hmm. And I, and I don't- Yeah … find that okay.

Christian: [8:35] Yeah. Well, I, I think this is in life in general. Mm-hmm. When you know what you're supposed to know and others don't, yet they get paid the same amount. Yeah. It's kinda like going back to school. Yeah. Yeah. You're on a group project. Yep. You do 90% of the work, and they get the same amount of credit for it. Mm-hmm. Exactly. It's kinda what's going on here. Yes. It never really feels great.

Joanna: [8:54] No.

Christian: [8:54] Yeah.

Joanna: [8:55] No, it was, it was shocking and upsetting, and you know, that's … And here we are. We're working on a deal right now where- Yeah the agent isn't sure, and I'm really hoping- Hey, but they

Christian: [9:08] think-

Joanna: [9:08] I really would hope that- … what they think is- They think it's okay … correct.

Dan: [9:13] I, I joke about this all the time. But you remember when President Obama ran for office, and he, he ran on hope, right? Yeah. His slogan was hope.

So I always say this: [9:19] hope is, is a horrible strategy, unless you're Obama. Yeah, exactly, right. Hoping this is gonna be okay is not really great to- When

Christian: [9:29] it comes down to numbers-

Dan: [9:30] Yeah … Speaker: yeah, there's not much

Joanna: [9:31] hope

Christian: [9:31] Yeah. No. You gotta actually know what they are. A lot of

Joanna: [9:32] gray area there.

Dan: [9:33] Yeah. A lot of gray area. You know, and but Joanna, uh, uh, to your point, we can only do our best- Yep which is, it's up to us, and we're well-prepared. I was presenting classes on this before these guidelines even came out. Mm-hmm. Mm-hmm. I'm here in the Seattle and east side markets. We finance a ton of condos, and so this was a big part of my business, being able to articulate what these changes mean to buyers- Yeah and to realtors. So yeah, there's a lot of changes. You mentioned earlier, and I think it's worth talking about, too- Mm-hmm … that there hasn't been a lot of media coverage or a lot of attention on this over the last year. Joanna's example is why. Yep. Real estate agents aren't paying too much attention to it, and they're taking more of the reactive approach. Mm-hmm. "Oh, shoot, we got an offer. Oh, shoot, there's a transaction here. Oh, crud, it didn't work out."

Christian: [10:19] Yeah.

Dan: [10:19] Versus the proactive side of it, and the media hasn't done a great job. Maybe the media could pick this up and talk about it. But, um, this is a big deal since the major- a big part of the first-time home buyer market in Seattle are condos.

Christian: [10:31] Yeah. It really is.

Joanna: [10:33] It's not clickbait. That's why it's- No … never talked about.

Dan: [10:35] Yeah. It's not

Joanna: [10:36] sexy. It could become-

Dan: [10:37] Yeah … Joanna: clickbait. But you know. But I think we kind of were just getting into this, but, you know, how is this gonna affect buyers, and what questions? I think this is key here- Mm-hmm … is what questions, you know, should they ask to find out if a condo will qualify, you know- Mm-hmm if you're not working with the condo queen- … uh, to guide you. What questions, you know? Is like reserve, special assessment, hazard insurance? What do you think, Dan? Well, if you're a buyer's agent, like you, in this particular case, and you're a buyer looking at condos, I would wanna look at the condo docs. I would wanna look at the, they call them the resale certificate, the condo docs. So typically, those are available for you to look at. The lender can actually pull this up on the Fannie Mae website and see if it's already approved, meaning have there been condos, units in that condo pro- project that have already been financed in the last year? And if they have, cool, it's on the approval list.

Christian: [11:32] Mm-hmm.

Dan: [11:33] On the contrary, there is also a naughty list.

Christian: [11:35] Mm-hmm.

Dan: [11:36] So, um, if it's on the naughty list, so there's … Joanna does this with us, and that's one of the benefits of having a- a, a lending expert with condos is you can call or text any of my agents can call or text me, and we'll look it up before you actually write the offer.

Christian: [11:51] Yeah.

Dan: [11:51] So you're not wasting your time, you're not getting your client's hopes up, but then there's an educational process. I've got five slides in front of me that I've taught this on. We send this to our clients so they know in advance. I send them a video that I've made on this information well in advance. If we know- if Joanna and I are working with a client and we know that they're gonna be in the condo market, our buyer's consultation, our mortgage planning consultation takes a right turn at pre-approval to educate them on this particular purchase versus just going, "Hey, we're just getting you approved. Good luck."

Joanna: [12:25] Mm-hmm. Exactly.

Dan: [12:26] Education's key. So I guess to answer your question, education, being proactive with education is key

Joanna: [12:32] Awesome. So we're asking questions about resale certificate- Mm-hmm … is the big one. We're asking things about reserve studies. Mm-hmm. And always refer back to your agent, back to your lender, to make sure that they have everything that they need, and that will guide you very well.

Dan: [12:50] Yes. I think one other question, because we're seeing this, and you're- I'm probably jumping ahead on your questions. But we're seeing this as the culprit, the m- the main culprit, and it's insurance, the master policy. So getting an idea of the coverage on the, of that master policy up front is so big. Yeah. Yeah.

Joanna: [13:07] Mm-hmm. So buyers- Mm-hmm … here is a quick tip to help you out. As Dan was saying, don't waste your time on things that don't qualify, and that's where if you're out looking and your agent can dig up, you know, HOA documents for you to help you even know if you should go out to visit or tour that condo. Get that information ahead of time so you don't get your hopes up on something that's not gonna qualify, 'cause- Mm … it's not always gonna be clear. Even if you go to an open house and you talk to the agent that's listing it, and they don't know, I mean, once again, there's a bunch of your time that you can't get back, right? Um, so, you know, you don't… Another tip. Mm-hmm. You don't wanna waive your financing without knowing if any of these things, you know- Mm … just aren't gonna qualify for you.

Dan: [14:02] Yep.

Joanna: [14:02] Which is a big piece that we will talk about, too, as your agent- Mm-hmm … as your lender. If something isn't complete with, like, HOA documents- Mm and everything like that, waiving financing is a big no-no.

Christian: [14:16] Mm-hmm. Yeah. And that's a huge thing. When this market is so hot, a lot of buyers are waiving their financing contingency if they're pre-underwritten, if they're smart. Some are waiving it with just being pre-approved, which is not wise. But probably not the best idea to do that on a condo that is iffy, where the agent thinks it's approved. You should go in knowing for 100% that you know that it's gonna be good to go.

Joanna: [14:42] Which I will say, on this deal that we're speaking of- Mm-hmm … that Dan and I are in right now, we did not waive our financing- Mm. Mm … on this because of that. Yeah. And it was potentially a competitive deal. It had not passed the review date. It didn't even have a review date.

Christian: [14:56] Yeah.

Joanna: [14:56] And I think after speaking with the agent and, you know, basically- questioning him on the HOA information, he, uh, we did, we did not get any pushback on having the financing contingency in there.

Christian: [15:11] Yeah.

Dan: [15:11] So th- let's talk about this right now, 'cause I think this is very applicable info to a buyer. This particular property is not on the naughty list, nor is it on the approved list. That's

Christian: [15:21] a good

Dan: [15:21] point. Nope. Yeah. So it's a gr- it's a great point. Yeah. It's kind of where we were a year ago, because it was a clean slate, right? Yep. Yep. And, and so what we're doing here at this point, we've requested the condo questionnaire. It's a form from New American Funding. We've requested the budget and financials, and then we've requested a copy of the master policy, and that will get our condo department, not our underwriter, our condo department will review all of that. And then here's the great thing. Let's say we approve it. Boom, now it's on the national approved list.

Christian: [15:50] Yep. And that's huge.

Dan: [15:51] Mm-hmm.

Christian: [15:52] That's a big deal for

Dan: [15:53] any

Christian: [15:53] buyer.

Dan: [15:54] And then you guys can now take it to that condo project with some marketing material and say- Mm-hmm … "Hey, we got this approved." Yep. "We'd be happy to help you." So that's- Yep, exactly. There's some other things that we're seeing the elite, the, the professionals in our industries are starting, you're seeing them rise quickly to the top, and- The ones that understand tough markets like this.

Christian: [16:11] Yep. Yeah.

Dan: [16:12] Yeah. Yeah, they weed out the weak.

Christian: [16:14] So I got a question about associations, Dan, 'cause we talked about this once before on the podcast and I didn't ask this question, and I actually re-listened to that episode in preparation for this one. Mm-hmm. Can a condo association prevent getting in the situation where they have $10,000 or more- Mm in special assessment coming up- Mm … by having, you know, there's five buildings with five roofs on it. Yep. Could they say, "Hey, the first three roofs we're gonna do at one point- Mm … and it's only gonna be $8,000 special assessment." Mm-hmm. "So we're under the 10 grand, and then once that done, that's done, then we're gonna do the other two, and that's only gonna be, like, $3,500 per unit." Mm-hmm. Now they're under that 10 grand per unit. Mm-hmm. Is that a way they can kinda circumvent these $10,000, like, limit?

Dan: [16:59] Yeah, there's two ways to answer that. So the number one way, and the key to this is- Leveraging the reserve study. Mm-hmm. Okay? So if an HOA is managing, properly managing their condo project the way they should be, annually they should have a reserve study, and that's done through a neutral third party- Yep through the city or through the county, where they come out and they do an audit. Yeah. And they tell you the life left on the roof, the siding, the w- you know-

Christian: [17:25] It's a crazy report. Mm-hmm. It's kinda like an inspection report- Mm … except they are telling you exactly- Mm-hmm … how long each thing- Yeah … each piece of the property is going to last. Mm-hmm. The concrete- Yep … the siding, the handrails- Yep … the mailbox- Yeah … the, the s- the windows, the roof- The decks … everything. Yeah. Everything. Decks.

Dan: [17:42] Yeah, yeah.

Christian: [17:42] Every single piece is broken down- Mm … with the expected life l- lifetime left on it- Yep … and the expected cost of that repair.

Dan: [17:51] Cost of the repairs, and then what to do to maintain- Yep to keep it at a certain, at a certain level. To extend its

Christian: [17:56] life.

Dan: [17:56] Yeah- Yeah … to extend its life. So I think the number one key to that is a reserve study. Number two, yeah, part of us getting these projects to prove, these projects approved, is being strategic. Mm-hmm. Like you are going, "Hey, okay, let's see if we can w- rework the master policy. Let's see…" And that's really tough, by the way, because insurance costs have skyrocketed. Yeah. That would cause your HOA dues to, to go up. But yeah, working through some of those things strategically, yeah, it's… And that's another, not a plug, but another reason to use a local lender that actually- Yeah … has a condo department that's willing to go and put in the work in for- Mm local condo projects and real estate agents. And again- Yeah … I think it just helps build community because it helps keep and, and maintain the resell value of these condo projects and these condos.

Joanna: [18:39] Yeah. That, and speaking to a local lender when it comes to working in condos specifically I think is really important- Mm-hmm because you understand what's happening in that market in a, a whole other level when it comes to condos. Yeah. Because condos are great, but they are complicated.

Dan: [18:57] Mm-hmm. Yep.

Joanna: [18:58] Just because of the HOA information. Mm-hmm. So if you have somebody who's not familiar with that area, your deal can go south in a way that maybe if a local lender was taking care of your loan- Yeah it wouldn't. Yep. So very important.

Dan: [19:11] Amen.

Joanna: [19:12] Yeah. Christian?

Christian: [19:14] Mm-hmm.

Joanna: [19:14] What do you think, do you think this will have any effect on values?

Christian: [19:20] Yeah. So these condo associations that are on the naughty list are gonna have a tough time selling, and the ones that have to sell, they're probably gonna have to sell at a discount.

Joanna: [19:32] Mm-hmm.

Christian: [19:33] That sucks for them because this probably could've been avoided had they planned ahead. But this is a new regulation that came into effect, again, September 2023. So if someone does have to sell and they're on the naughty list, and they just, maybe they have some equity in their home, so they have some room to, uh, potentially take a lower offer, that's where someone could come in with maybe an FHA loan- Mm as the buyer, if it's approved through FHA, which not all the time. They're not always a- approved because they have to go through their own FHA approval process. But this is where potentially as an investor or a buyer- Mm … that has some cash, you could come in and potentially get a deal on a unit And then go help the association using Dan, maybe Joanna, to build it back up- Mm-hmm and get it back on the approved list, increasing your value along the way, and buying a deal in the process. Mm-hmm. Which I think that's an opportunity- Mm … right there for the right buyer.

Dan: [20:33] Mm-hmm.

Joanna: [20:33] Absolutely.

Christian: [20:34] Yeah. Cool. Anything else either of you want to say, Condo Queen or Dan the Man, Condo Man?

Dan: [20:39] Condo Man. Uh, you mentioned FHA and VA- Yeah … a minute ago. Yeah. The really neat thing about VA and FHA is they're approved up front one time, and then that approval expires. Mm-hmm. And so that's where we've actually been able to do a couple of deals where the condo project did not meet Fannie Mae's revised criteria, however, it met FHA and VAs. Yeah. So not every deal is a dead end. You may have to change your financing type- Mm-hmm … but if you like the project, if your real estate agents feel like it's a good use of your investment, it's a good investment- Mm … that it's not gonna be damaged by these guideline changes, then you can switch financing like we have a couple of times to FHA and closed it, no problem.

Christian: [21:21] Yeah.

Dan: [21:21] Mm-hmm.

Christian: [21:22] Yeah, and that's a great way, and this is- Yeah … why, again, you need to have a lender that understands- Mm … these regulations- Mm … 'cause so many of them do not. Yeah. Just like the agent side, so many of them, I'd say 75% of the agents that I've dealt with, maybe you have… Maybe it's lower for you 'cause you've probably talked to more, but I feel like the majority of them don't have any clue that these are going on- Mm-hmm that these changes have happened. Yeah. And it's been almost a year.

Joanna: [21:45] Yeah. I mean, honestly, there are so many condos in and around this area, and a lot of them have very old HOAs- Mm. Mm-hmm … that haven't been it doesn't look like- Yeah … touched or looked at- Mm-hmm … in decades. Yeah. Yep. And those are the places that are gonna be ki- this is where we're in at the deal right now- Mm-hmm. Yep … and it's, it's gonna be a rude awakening, and it would be, you know… You wanna make sure that you're up to date- Yeah … that you have that fresh life- Mm-hmm … that has been breathed into your HOA to make sure that you're going to be confident moving forward if you're selling- Specifically. Mm-hmm. But yeah, buying as well, obviously. Yeah. Yeah.

Dan: [22:25] Yep. That's important to know, too, that a lot of the people managing these HOAs are not big companies with their full-time job is to manage the HOA. They're current homeowners within- Yeah … the association doing this on their spare time, right?

Christian: [22:38] Yeah. They got elected 'cause no one else- Yeah … wanted to do it. Mm-hmm.

Dan: [22:42] And it's not like they're- And they don't know. They

Christian: [22:43] don't

Dan: [22:44] know. Yeah, they don't know. Yeah, they don't know what they don't know, and so when you got a lender all of a sudden, or lenders, or, and, and Realtors all of a sudden bombarding them with all this info-

Christian: [22:51] Yep … Dan: you know? So I would also say practice a little bit of patience as well- Totally and understand this- Yeah … that your typical 20- to 30-day closing may not happen if the project's not necessarily approved and you have someone that might not be as available. Yeah.

Dan: [23:05] Right?

Christian: [23:06] Yeah. So just be cautious. Yeah. I mean, they're doing their day job- Yep … and, you know, it's a smaller complex often in that situation- Yep that's self-run. They don't have a lot of overhead as well, which is a plus- Yep … and that's probably why the dues are lower. Yep. But they also don't know exactly what they're doing. Yep. So you kinda gotta coach them

Dan: [23:20] along a little bit and help them out. Yeah. And I'll even tell you this. Over, over the last year- Mm-hmm it's been funny. On two, I know two that I can count on, my team and I have actually gone and met the president of the HOA to help them- Yep … with The Condo Docs. I-

Christian: [23:32] Yeah. This is why, again, huge reason why- Mm-hmm. Yes … Dan the Man is the one that you need- Yeah … to help get you to help get your loan for a condo. 'Cause they will do that. Yep. Yeah. That's way above and beyond. That is not common. So Dan, thank you so much- Yeah. Yeah … for being on today. Yeah. Thank you, Dan. What is the best way for someone to reach out to you if they have questions?

Dan: [23:48] Well, you know what we didn't do? We didn't disclose my MLO number. I know. We gotta ask that too. So I gotta be official and then make sure I stay out of our- Yeah … compliance department, but my name's Dan Keller. I'm with New American Funding right here in Kirkland, and my MLO number is 115349, and- Niner. Yeah, niner. Niner, niner. Instagram is great. I'm on Instagram. I talk a lot about stuff like this over there @mymortgageguydan, but you could also just look me up online, mymortgageguydan.com.

Christian: [24:12] Yep. Mm-hmm. Perfect. For Joanna Beecher and myself, Christian Nossum, thank you so much for listening to this episode of the Awesome in Seattle podcast. I hope you learned a lot. If you are a buyer and you are interested in chatting with us a little further to see if buying a condo still makes sense for you, you can do that anytime right on our website. Just chat with us totally free. There's no obligation. We don't pressure you to do anything. Clearly, we're all about education. It's why we do this, and you can do that right at AwesomeNossumGroup.com/schedule. Until next time. We'll see you then.

Joanna: [24:46] Bye bye.

Christian: [24:47] Bye.