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Okay, Admitted. A little more Times bashing for today. The Wednesday Seattle Times has two articles in the business section. The feature is headlined "U.s. Home Prices fall, more declines seen." This article is datelined Washington (and they mean D.C.). It's from information released a week or so ago put out by Case-Shiller, a company that claims to follow same house resales over long periods of time.

Two things about Case-Shiller's information.
1. It is always two months old based on closed sales which are also two months behind the current market. So, figure 4 months stale.
2. In following the sale of the same house over time they don't, as far as I know take into account remodeling/deterioration. Back between 2002 and 2007 home improvement stores were booming because people were pouring money into their homes and re-tapping them for equity. Houses were getting improvements so the values should have gone up. Essentially they were not the same homes that sold two or three years earlier, even though they had the same address. And from 2007-present, most people stopped putting money into their homes and many of them have deteriorated, resulting in a home of less value. Same address, but now a fixer/shortsale/REO. Selling for less: No DUH!

Despite their cachet as a national authority, the model of the American Home has changed. Think about it. A spreadsheet model devised back in the 2000 is no model for today.Values skewed. You betcha.
Article #2. An enlightening article given by Froma Harrop datelined Providence. I'm assuming that's Rhode Island and not some ethereal point of wisdom. Her article is based on Zillow.com statistics which by Zillow's own admission have a median error of between 8.5 and 15.4%. Median would mean that half of the estimates are above and half below, so some can be pretty far off.

Ms Harrop continues her article in the political vein and advises elimination of any government incentives which encourage home ownership, citing Canada as a model. Harrop likes to write about everything from where ever her apartment is.

Her article is not in the online Times edition so I can't link to it. John Talton regurgitates the same Case-Shiller information as above in his piece about the American Dream. Apparently the Seattle Times can't afford local writers for most of their work and one would do just as well to read the pulp in USA Today. Or maybe local writers won't write articles with messages they are instructed to convey.

I'm glad to see the Times' prices rising. It will make it easier for me to stop the subscription come April 1st. No joke.

Also published at www.glennaroberts.com
Realtor Magazine just published a story on cost vs. value in a sale for 5 different home improvement projects. Interesting in some ways but hard to apply. These are averages from input by realtors from 80 cities across the USA. Markets are different in each area. What the basic inventory is, make a difference. For example, in Seattle we have a mix of homes from the teens through the nineties and a smattering of townhouses built in the last 15 years. And just 20 miles away you can find communities that were second growth forest until the 1980's and other areas that were developed in the 60's and 70's.
A kitchen remodel in a 1927 Tudor is a whole lot different that a redo of a 1980's northwest contemporary. But anyway, here is the table comparing the 5 projects, their costs and value.
Project
Cost
Resale Value
Recouped
Entry Door
$1,218
$1,243
102.1%
Garage Door
$1,291
$1,083
83.9%
New Siding
$13,382
$10,707
80.0%
Kitchen Remodel
$21,685
$15,790
72.8%
Deck Addition
$10,973
$7,986
72.8%

Before you rush out and do something, do some more reading, go to a few open houses and above all, talk to your favorite Realtor®. You might even want to take him to lunch and pick his brain. If you are going to sell, you want to do the things that make the most sense for your home, in your market, under current conditions. And the best way to insure that is to get the opinion of someone working in the trenches every day.

If your Realtor® is still in the business after the last three years, then he knows what he is doing.

The realtor magazine article: Cost vs. Value.

Urban Farms in Seattle

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Have you been tortured by your desire to be a farmer and your attachment to your urban dwelling?  Worry no more!  The Seattle City Council recently updated and approved the ordinance governing urban farms and community gardens.  I think you will soon be seeing many more chicken coops, vegetables for sale and straw hats around your Seattle neighborhood.

Below are a few of the provisions in the ordinance.  Check out the complete ordinance here.

   In all residential zones all urban farms are subject to the following provisions:

             1.  Mechanical equipment. Only mechanical equipment designed for household use may be used. 

            2.  Sales. Retail sales and all other public use of the farm shall begin no earlier than 7:00 a.m. and end by 7:00p.m. every day of the week. 

            3.  Deliveries. Commercial deliveries and pickups are limited to one per day. On-site sales are not considered commercial pickups. 

            4.  Motor vehicles.  No more than two motor vehicles, each with a gross vehicle weight of 10,000 pounds or less, may be used for farm operations.

             5.  Location. The farm shall be located on the same lot as the principal use to which it is accessory or on a lot where the planting area is within 800 feet of the lot where the principal use is located.

             6.  Signs.  One identification sign is permitted, not exceeding 64 square inches in area.

             7.  Structures.  On a lot with no principal structure:

                   a. The total gross floor area of all structures for urban farm use may not exceed 1,000 square feet.

                   b. Structures for urban farm use may not exceed 12 feet in height, including any pitched roof.

                   c. Structures for urban farm use are also subject to the development standards that would apply to an accessory structure in the zone.

 

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Seattle: Buying a Home? What about Crime?

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Comprehensive tool by Bing Maps and The Seattle Police Department


The Seattle Police department has come out with an interesting crime mapping tool that will certainly be interesting to buyers and also to sellers, homeowners and renters. Part of crime prevention is being aware of it and then taking proactive steps to correct problems by cooperating with your local law enforcement agencies.

policemap.jpg

Here is a link to the what's called My Neighborhood Map. In conjunction with Bing Maps the Seattle Police Department has put together a wide variety of information besides crime and crime statistics on this site. One can find listings for Art and Recreation, Community Services, Education, Parks, Permits, Public Safety, Transportation and Utilities. This is a bookmark link for anyone who wants quick information for in and around Seattle.

It takes a little orientation to figure out everything that is available on the map but I can see many uses for it besides giving a buyer a link to check out crime statistics in the neighborhood where they are considering purchasing a home.

If you are planning a remodel on your home that was built prior to 1978 there are new rules that dictate whom can do the work on your home and the procedures they must adhere to.  Firms and the employees handling a remodel or renovation on a home built prior to 1978 must be certified.  To get certified the firm and the employee must attend training and pay a fee to the EPA.

As reported by the National Association of Home Builders:

The U.S. Environmental Protection Agency's Lead: Renovation, Repair and Painting rule governing the work of professional remodelers in homes where there is lead-based paint was published in the Federal Register on Earth Day, April 22. The rule took effect April 22, 2010.

The rule addresses remodeling and renovation projects disturbing more than six square feet of potentially contaminated painted surfaces for all residential and multifamily structures built prior to 1978 that are inhabited or frequented by pregnant women and children under the age of six.

It requires a cleaning inspection after the work is completed and grants the remodeler flexibility in determining the size of the work area, which can reduce the size of the area subject to containment.

The EPA rule also lists prohibited work practices ― including open-torch burning and using high-heat guns and high-speed equipment such as grinders and sanders unless equipped with a HEPA filter.

Additionally, the rule establishes required lead-safe work practices, including posting warning signs for occupants and visitors; using disposable plastic drop cloths; cleaning the work area with HEPA vacuuming and wet washing; and individual certification through a training course.

The full rule and brochures for consumers and renovators can be downloaded from the EPA's Web site.

Information for Homeowners Working at Home

If you are a homeowner performing renovation, repair, or painting work in your own home, EPA's RRP rule does not cover your project. However, you have the ultimate responsibility for the safety of your family or children in your care. If you are living in a pre-1978 home and planning to do painting or repairs, please read a copy of EPA's Renovate Right: Important Lead Hazard Information for Families, Child Care Providers, and Schools (PDF) lead hazard information pamphlet (11 pp, 1.1MB). | en español (PDF) (20 pp, 3.2MB). You may also want to call the National Lead Information Center at 1-800-424-LEAD (5323) and ask for more information on how to work safely in a home with lead-based paint.

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  • John "Mack" McCoy: Wow, good post! So often partners will buy property together, read more
  • John "Mack" McCoy: There's another quality that is important for real estate agents read more
  • sabine: and then there is the other value when you have read more
  • Glenn Roberts: Right, Mack, the market was sick, and the journalism side read more
  • John "Mack" McCoy: Good points, Glenn. The fact is, the market was sick, read more
  • Glenn Roberts: Mack - Paying attention to the experts may put some read more
  • John "Mack" McCoy: Tuesday's P-I had a story on Tuesday where Robert Shiller read more
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  • John "Mack" McCoy: The past few years have brought a lot of "real read more
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