NCW Real Estate Blog

The State Legislature is in session, so we all need to watch out for our livelihoods! Governor Gregiore put out an Executive Order Setting Greenhouse Gas Emissions Goals.  That order has been embodied in House Bill 1718.

It’s also known as “Cap & Trade” and is supposed to reduce Washington’s carbon footprint to 50% below 1990 levels by 2050.  Whether or not you believe that CO2 is a threat, this bill would change your life if it passes.

Here are some of the highlights according to an analysis by Representative Matt Shea:

• New Taxes, lots of them!
• Tolling the I-90 bridge with the fund going to reducing greenhouse emissions, not transportation infrastructure.
• Mandates reduction in vehicle miles driven for both commercial and private vehicles (pay as you drive/don’t drive).
• Creates what appears to be stringent rent control regarding new buildings.
• Fully incorporates “green building codes” at an enormous upfront cost to builders and new home buyers.
• Implementation of “complete street principles” increasing the cost of transportation projects.
• Severely limits use and disposal of real property.

 Those are just some of the highlights of this bill.  Certainly this bill would impact real estate as well as almost every other aspect of trying to live and make a living in the State of Washington.  A hearing was held that started already, at 8:00 a.m. this morning.  However, you can still provide feedback to your legislature and others.  You can phone call the legislative hotline number at (800) 562-6000 to call and express your viewpoint.  The website to find your legislator’s contact information is at http://apps.leg.wa.gov/DistrictFinder/Default.aspx

Tags: Construction, Design, General Interest, Land Use, Northwest by Al Lorenz
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In this month’s Building Industry Association of Washington newsletter, Building Insight, an article discusses the impacts on jobs and revenue due to the decrease in construction in the state of Washington.  The newsletter used to be online, where I could link to it, but I can’t find it now.

So, I’ll tell you about it!  Last year in Washington, 47,558 single and multi-family permits were issued.  This year only about 35,000 permits will be issued.  So far thoughout the year, there are 12,536 fewer building permits than it did in 2007.

Each permit for a single family home averages $22,749 in state and local taxes and fees as well as 2.84 jobs per home.  The total jobs and revenue lost by this analysis show -31,489 jobs and -$246,715,860.

The drop in building permits represents more than a decrease in new houses.  It is a drop in income, jobs and tax revenues as well according to the BIAW.

Tags: Construction, General Interest by Al Lorenz
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I met with Ron Tate and Mary Pat Scofield at Bear Mountain Ranch this week. I knew that Bear Mountain Ranch is a beautiful project, but felt remiss in that I really didn’t know what was happening up there these days. So, I went to find out.

What I saw is that I really had no idea how much the Bear Mountain Ranch project entails. I learned a bunch. 

This year will mark the first year that they have offered the Private Residence Club at Bear Mountain Ranch. This is a fractional ownership opportunity for 1/8 share (6 weeks per year) in 2-story single-family style homes. This is a deeded equity ownership that allows the flexibility of scheduling any of the homes in the Club and use of the amenities of the resort development.

Also new this year is the Beach Club [Read more →]

Tags: Construction, General Interest, Local, Marketing by Al Lorenz
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