It seems to be a slow news day today, as far as real estate in the Seattle area goes. So, I'll share this "Home Forum" that appeared in the Seattle Times a few weeks back. If you haven't seen it before, it's a short Q & A column where Elizabeth Rhodes answers reader questions about real estate. I thought that the questions that were asked in the September 9th column were an interesting and amusing mix:
Q: My Edmonds condo is in a building with six units. One recently sold for $760,000, which I think is well above what that unit or any other in the building is worth.It's a 'trifecta' of bubble queries. We've got one homeowner that's worried about their budget being ruined by the bubble, an "investor" (a.k.a. a flipper) that hopes to sneak potential problems past some poor sap buyer, and a homeowner that can't afford to live in their own home. What a wonderful time we are living in!
What effect will the sale of this unit have on the property taxes the rest of us pay?
Q: The condo I just bought had a termite problem that was successfully treated before the sale closed. My plan is to update the unit and sell it soon.
This is an investment property I don't intend to live in. Am I legally required to disclose the termite situation to potential buyers?
Q: I am downsizing by moving into my mother-in-law apartment and renting out my four-bedroom main house. How does one figure the cost of shared utilities?
(Elizabeth Rhodes, Seattle Times, 09.09.2006)