Tri-Cities Washington Real Estate News & Blog

HB 2331 would fund infrastructure projects through the transportation improvement board’s urban corridor program to help local governments accommodate projected growth. The measure, which would help communities pay for roads that new homes need, has passed out of committee and is in House Rules awaiting floor action by the House. We also continue our work on legislative strategies that will help provide enough homes for job growth. And, we are working for performance measures to help jurisdictions find out whether they are actually meeting the housing needs of our growing communities. REALTORS® also support HB 1359 which would create an “affordable housing for all” program.

REALTORS® Housing Solution Beats the Odds!
Because of the importance of HB 1727 legislative leaders pulled the bill to the House Rules committee, bypassing the House Appropriations committee’s backlog of more than 200 bills! HB 1727 clarifies that communities must ensure a variety of residential densities and housing types and sufficient land suitable for housing development for population growth. This measure will help increase home choices available to meet demand. Many thanks to REALTORS® who made phone calls and sent messages to committee members urging support for the bill. Now that this legislation is in House Rules, we expect it to move through the House of Representatives within the next few weeks. Please stay tuned.

Key Legislation Impacting Real Estate: 
Land Use/Water Policy
REALTORS® are supporting legislation (HB 1636, SB 5656) for a regional program of the transfer of development rights which allows more housing opportunities and protects property owners while preserving the environment. We are also working on HB 2092 to modify the buildable lands requirements of the Department of Community Trade and Economic Development to help cities get the information they need in order to effectively accommodate growth. We also oppose SB 5507 which revises the law to allow for vesting at the time of project approval resulting in an increased cost of building and home buying.
 
Tax and Fiscal Policy
REALTORS® oppose legislation (HB 1161) which revises local real estate tax provisions on the sale of real property to allow jurisdictions to utilize the local sales tax AND the local real estate excise tax. REALTORS® have concerns about HB 1232 which would allow the local real estate excise tax to be used for equipment such as computer hardware related to capital improvements other than actual infrastructure needed for growth. We are opposing HB 1768 which authorizes a local real estate excise tax (an unreliable funding source for ongoing operations) be used for maintenance and operation of parks. REALTORS® are expressing concerns over HB 1910 which would modify tax exemptions for multi-unit dwellings in cities, additional criteria that could negatively affect affordable housing opportunities. REALTORS® are providing support for SB 5115 and HB 1277 that expand the funds available for local infrastructure financing tool (LIFT) projects.
 
Consumer and Business Affairs
REALTORS® are supporting SB 5895 to establish a vacant land disclosure statement in order to protect buyers and sellers of vacant land without changing the intent of the seller disclosure statement or making it more burdensome. REALTORS® are opposing legislation (SB 5048) which gives homeowners 60 days to re-file a claim even if the statute of limitations on their home warranty has expired. REALTORS® are providing considerable input for SB 5031 and HB 2014, legislation regarding giving notice to tenants on condo conversions.
 
REALTOR® Appointed to Affordable Housing Advisory Board 
Gov. Chris Gregoire recently appointed REALTOR® Wanda Coats to the state’s Affordable Housing Advisory Board. The Governor’s press release explained, “Wanda Coats of Gig Harbor has been appointed to a term effective February 2, 2007, ending January 26, 2011. Ms. Coats is the Managing Broker with Windermere Real Estate/Paragon Company. She manages the local Windermere Foundation, whose mission is to help homeless families. The Board serves as the principal advisory body to the Department of Community, Trade and Economic Development on housing and housing-related issues.”
 
REALTORS® Thanked for Quality of Life Efforts 
The Cascade Agenda, the Seattle Art Museum and Washington REALTORS® recently co- sponsored “Green Drinks” a social gathering held monthly for environmental groups and supporters, this time at the Paccar Pavilion at the new Olympic Sculpture Garden. With 550 participants, it was the second largest Green Drinks gathering ever in the nation, surpassed only by New York City. Gene Duvernoy, President of the Cascade Land Conservancy, said the work done by Washington Realtors to improve our quality of life “should be front and center in environmentalists minds because we all need to work together to succeed as a region.”
 
REALTORS® Legal Victory! 
Recently, the Washington Supreme Court issued its decision in Alejandre v. Bull, in which the Washington REALTORS® filed an amicus curiae brief. The case concerns the applicability of the “economic loss rule” to real estate sales. The Court ruled in favor of Mrs. Bull, the party that the Association supported.  Tri Cities Washington Real Estate