New state law requires condo associations to report money set aside for long-term maintenance -Seattle Times

Attention, condominium shoppers: Washington soon will become one of a half-dozen states requiring condo associations to provide a financial-wellness check that can predict whether the place is a potential money pit.

The check, called a reserve study, estimates how much money an association must set aside to pay for expensive long-term maintenance, such as repaving a parking lot, replacing a roof or rebuilding rotting decks…

The reserve study must be done by a professional and can be waived only if it would “impose an unreasonable hardship,” something the law does not define. Still, the associations group, condo attorneys and property managers call the change necessary, if somewhat overdue, for a growing segment of the housing market. A quarter of King County home sales are condos, and many buyers are homeowner novices.

“It will act as consumer protection for a lot of potential buyers and give them a better perspective of the true costs of ownership in a condominium association,” says Marshall Johnson, president of The CWD Group, which manages about 90 condo associations in Seattle and Bellevue.

Sundberg, of Mercer Island, says that’s been sorely lacking.

“We’re seeing a substantial increase in litigation from unhappy purchasers who bought a condo then found out there’s a huge special assessment being levied,” he says. These irate buyers “go after the board, the manager, the real estate agents, the seller,” he says… 

For the fully story read New state law requires condo associations to report money set aside for long-term maintenance -Seattle Times

Mike Rozell ~ Realtor / Real Estate Agent ~ www.MyLifestyleRealtor.com 

Steering growth to Seattle, urban areas -Seattle Times

The combined populations of Seattle and Bellevue could grow by nearly 300,000 under a plan that attempts to direct much of the region’s projected growth to its largest cities.

Vision 2040, adopted overwhelmingly Thursday by elected officials from four counties and more than 40 cities, also opposes building any more “fully contained communities,” such as Redmond Ridge, in rural areas.

The Puget Sound Regional Council’s 40-year blueprint for slowing sprawl and speeding up downtown renewal discourages high-density islands outside the urban growth line “because of their potential to create sprawl and undermine state and regional growth management goals.”

Tacoma City Councilmember Mike Lonergan, who headed the planning effort, said fully contained communities are “an oxymoron” because they overwhelm rural roads as the new residents drive elsewhere to work, shop and attend school.

Cities and counties aren’t required to comply with policies in Vision 2040, an update of the Vision 2020 plan that was adopted in 1995. But the Regional Council’s role in allocating some federal road-building funds gives it influence over local land-use decisions…

King County Executive Ron Sims, saying Redmond Ridge was a mistake, supported the Vision 2040 goals.

Sims adviser Karen Wolf called Vision 2040 “fabulous” and said it will allow King, Snohomish, Pierce and Kitsap counties to grow by 1.7 million people without moving the urban growth boundary.

The plan would locate one-third of those new residents in the region’s five largest cities: Seattle, Bellevue, Everett, Tacoma and Bremerton. Smaller cities would take 41 percent of the growth, and areas outside cities 28 percent…

Bellevue City Councilmember John Chelminiak and Seattle Mayor Greg Nickels’ spokesman Marty McOmber welcomed the goal of bringing 294,000 more residents into those two cities. Seattle now has 563,400 and Bellevue 109,600. That growth target will be apportioned between the cities through a separate county planning process. Continued…  For the fully story read Steering growth to Seattle, urban areas -Kieth Ervin, Seattle Times

Mike Rozell ~ Bellevue Realtor / Real Estate Agent ~ www.MyBellevueLifestyle.com 

Gracious Elegance abounds in this custom 2-story home on over 3 acres;  including over 6,000 sqft, 5 bedrooms, 6 bathrooms and formal living & dining rooms.  The 2-story entry way boasts a sky bridge and Juliet balcony.  The extra-large gourmet kitchen contains slab granite and Sub Zero fridge and the large family room entails a stone fireplace and built-in entertainment center.  The gorgeous spa-like master suite embraces a marble fireplace, extensive built-ins, glass-block shower and soaking tub. Also enjoy the media room, widespread covered patio with in-ground pool and so much more.  For more details on this Renton Home For Sale go to: 19688 SE 184th St Renton, WA 98058

To find out the value of your home with a Free Market Analysis, call me directly at 206.799.3414 or go to House Values and fill out your information for a Comparative Market Analysis.

If you would like a free list of homes For Sale in Renton, would like to be the first to know about hot new listings before other buyers do or would just like more information about the area of Renton WA, call me directly at 206.799.3414 or go to Property Watch and fill out your information for New Listing Email Notification.

Mike Rozell ~ Realtor
Renton Real Estate Agent
First-Class Service | First-Class Results
www.MyRentonLifestyle.com

Red Mill Annexation threatens proposed City of Fairwood

The City of Renton has authorized circulation of a 60% annexation petition that targets the commercial core of the proposed City of Fairwood. (See map)

•  The petition is not to registered voters.

• The petition seeks signatures of 60% of the assessed value from the land owners within the annexation area.

• The petition method of annexation is not one-person-one-vote, but instead weighs each signature by the assessed value of the property. As few as eight signatures, mostly from out of the Fairwood area, could be sufficient for this petition.

If the annexation succeeds, the matter of whether the proposed City of Fairwood should be established will have been decided (in the negative), without a vote of the people of Fairwood.

• 69.6% of the assessed value of the annexation area belongs to land owners with addresses outside of the Fairwood area. (See chart concerning assessed property value ownership)

Please understand that this annexation is intended to foreclose the possibility of a City of Fairwood. This annexation could deny voters of the entire Fairwood area the opportunity to vote on the incorporation of the proposed City. The incorporation process is underway and it is proceeding on a schedule which would result in a public vote in late 2008 or early 2009.

We need your help in preventing a few commercial property owners from depriving voters from having a say in how we wish to be governed, at the local level.  Continued…  For the full story read Red Mill Annexation threatens proposed City of Fairwood – Fairwood Municipal Initiative

TAKE THE POLL:  What would you like for the future of Fairwood? 

For continued updates on the Fairwood Incorporation vs. Annexation issue and more on Fairwood Real Estate continue to visit: www.FairwoodNews.com

Mike Rozell ~ Fairwood Realtor / Real Estate Agent ~ www.FairwoodRealtor.com

Exquisitely designed home for sale in highly coveted neighborhood of Renton Highlands. With timeless style and modern sophistication, this old world charmer was skillfully tailored for any lifestyle. Characterized by its gable roof and architectural trim this house dominates its surrounding landscape, reminiscent of a traditional estate. The symmetrical layout of the interior exudes class and comfort across more than 3,800 square feet which includes 4 bedrooms, 2 1/2 bathrooms, a gourmet kitchen, living room, family room, built-in office, executive office/bonus room, home theater/recreation room and sauna. For more details on this Renton Highlands Home For Sale go to: 14435 152nd PL SE Renton, WA 98059

To find out the value of your home with a Free Market Analysis, call me directly at 206.799.3414 or go to House Values and fill out your information for a Comparative Market Analysis.

If you would like a free list of homes For Sale in Renton, would like to be the first to know about hot new listings before other buyers do or would just like more information about the area of Renton WA, call me directly at 206.799.3414 or go to Property Watch and fill our your information for New Listing Email Notification.

Mike Rozell ~ Realtor
Renton Real Estate Agent
First-Class Service | First-Class Results
www.MyRentonLifestyle.com

Railway corridor from Snohomish to Renton to keep tracks

The tracks will be preserved on the 42-mile BNSF Railway corridor from Snohomish to Renton, which could get commuter rail running on the line sooner and cheaper, according to rail advocates.

The Port of Seattle, which is in negotiations to buy the rail corridor from BNSF later this year, wants to keep the tracks. The other parties involved in the deal, including the Metropolitan King County Council and County Executive Ron Sims, also have agreed to preserve the tracks.

Sims earlier had said he wanted to tear out the tracks to make room for a recreational trail along the corridor and perhaps a new rail line later. In a letter to the County Council this week, he outlined plans for a “dual-use” corridor, with a trail and some sort of motorized transport, such as rail, running side by side.

“One of our primary objectives is to ensure that both transportation and trail uses are possible,” Sims wrote.  Continued…  -Ashley Bach; Seattle Times

For the full story read Railway corridor from Snohomish to Renton to keep tracks  -Seattle Times

For continued updates on this subject and more on Renton Real Estate go to: www.RentonLifestyle.com

Mike Rozell ~ Renton Realtor / Real Estate Agent

Stunning and spectacular European Custom View Estate at the Reserve at Newcastle. This home offers supreme class and comfort. Over 10,000 SF granite tile and marble. Open 3-Levels floor plan to meet every need. Home theater, wine cellar, exercise room and sauna all looking over the golf course. Meticulously finished in the manner you have come to expect from builder’s own home. Distinctive design and outstanding quality – a place you’ll love to call home. Buyer Bonus!!! More Details on this Luxury Home For Sale in The Reserve Golf Course Community 15504 SE 79th PL Newcastle, WA 98059…

To find out the value of your home with a Free Market Analysis, call me directly at 206.799.3414 or go to House Values and fill out your information for a Comparative Market Analysis.

If you would like a free list of homes For Sale in Newcastle, WA, would like to be the first to know about hot new real estate for sale in Newcastle, WA before other buyers do or would just like more information about the area of Newcastle, call me directly at 206.799.3414 or go to Property Watch and fill our your information for New Listing Email Notification.

Mike Rozell ~ Realtor
Newcastle Real Estate Agent
First-Class Service | First-Class Results
www.MyNewcastleLifestyle.com