A cover story in Friday’s Seattle Times depicted Danil Kasimov’s experience as a buyer at Bellevue Towers. As Kasimov’s move-in date at Bellevue Towers approached, he learned he would no longer be able to afford the home, leaving him out the $75,000 he borrowed from a friend for the earnest money – according to the Seattle Times.
The article states that Kasimov, as well as 5 other prospective buyers, filed lawsuit’s in King County Superior Court against Bellevue Towers and JP Morgan Chase Bank, alleging the lender falsified documents.
Nancy Bartley, the author of the article “$1.5M condo on $20K income? Prospective buyers lose $175K in Bellevue,” along with David Turim, the researcher for the Times, have been ridiculed by readers with over 520 comments (at the time of this post) for poor journalism and the lack of research.
The article states Kasimov is a “Limousine driver, earning little more than minimum wage.” The story goes on to portray Kasimov and the others as immigrants stating, “None whom are fluent in English.”
Hundreds of comments in the comments section have been quick to point out the many facts that have been overlooked in this case:
- Danil Kasimov is not just a driver, but owns the limo company – according the Secretary of State.
- Danil Kasimov owns 2 properties over $600,000 and has had many deeds of trust transfers in the last several years. Between all of the plaintiffs, there are a total of 19 deeds of trusts that have been signed with more than 10 transactions.
- The article states Davud Kasparov is not fluent in English, although he is a recent UW Engineering graduate.
- One commenter stated, “He was likely using ‘Stated income’ loans to finance his numerous deals.” This is a type of loan product that no longer exists in the current economic climate.
Patrick Clark, a Principal at Realty Trust City who represents selling the Bellevue Towers Condos, has posted a letter to the editor in the comments section stating how he is disappointed with the story and how it was “One-sided, fraught with errors, sensationalist, and irresponsible.” He goes on to finish by saying, “With reputations on the line, it is negligent to rush a story out without full reporting of knowledge of the facts.”
Other similar letters have been written to the editor within the comments section. Looks like The Seattle Times and its writers and researchers may have some explaining to do . With as much attention this story has gotten, it is likely that this is not the last we’ve heard.
