With the rising prices for single family homes over the past couple of years, Buyers are looking for a viable alternative if they don’t want to rent and prefer their own space.  Condominiums and Townhouses offer affordable prices, plus the added convenience of low maintenance, well-landscaped common areas, insurance on the structure and, with the right complex, recreation facilities, including pools, spas, common areas, walking trails and security gates.  Interest rates for such properties aren’t significantly higher than those for single family residences, but lending for them is fraught with an onerous regulatory burden for the lender to meet:  The complex must meet FHA requirements, which include a ratio of owners to renters exceeding 51%.  It’s almost a self-fulfilling prophecy, because if aspiring owner-occupants are blocked from getting units in these complexes, more investors will come in and the ratio will become even more unbalanced in favor of tenant-occupied.  Does this make sense?  Not to me.  Underlying this requirement is a belief that tenant-occupied units are less well-maintained than owner-occupied units, but with common area maintenance handled by an HOA, this seems an overly cautious viewpoint.  The House of Representatives has unanimously passed an FHA fix, but the Senate has not taken up the bill.  Realtors have been asked to encourage their Senators to co-sponsor the bill and get it passed.  If prospective buyers could help us in that effort, maybe we’ll get their attention.  Thank you for your consideration.