Category: Development, Explained
General education on how real estate development works. Not an offer or investment advice.
Air Condos vs Unit Lot Subdivision in Seattle: Two Ways to Sell Homes on One Lot
How an air condo differs from a unit lot subdivision in Seattle: land ownership, buyer financing, association duties, shared utilities and access, and which structure a…
Reading a Development Pro Forma: What the Numbers Mean
A pro forma is a budget and forecast built on assumptions, not a promise. How to read the cost side, the revenue side and the schedule,…
Carry Cost: Why the Clock Matters as Much as the Budget
Carry cost is construction loan interest, property taxes, and insurance, and it runs until homes can legally close. In Seattle that is often well after construction…
Debt and Equity: How a Seattle Infill Project Gets Paid For
Most Seattle infill projects are funded by a construction loan plus equity. The loan is repaid first and equity last, which is why equity carries more…