Lewis County Real Estate Blog

In Order to Lower the Foreclosure Rate and Keep People in their Properties

Kling and Associates Real Estate — Mon, 04 Aug 2008 16:13:26 -0700

Banks and/or Savings and Loan Institutions making Real Estate loans in the State of Washington shall be required to offer, during the course of the loan, one “six month” grace period in order to forestall and/or prevent the catastrophic consequences of foreclosure to the individual borrower.

When an individual suffers a major life threatening injury, a work/job disabling sickness or injury, a divorce costing in excess of $15,000 in Attorney’s fees, a business loss in one year of more than $30,000, or an uninsured loss of property in excess of $30,000, or loses a lawsuit and must pay the winner a settlement of over $30,000 in one calendar year,

Then:

(1) Said individual borrower shall be entitled to notify his lender and the lender shall agree to add the six months of loan payments to the end of the loan. The loan shall then continue for six months longer than the original term mutually agreed upon in the loan documents.

(2) A default rate of interest shall accrue for said six month period and shall be added to the loan’s principal balance.

(3) The loan amortization period may be extended for one additional month in order to pay off the accrued default interest.

(4) In order to have this option, the debtor must notify the bank that he wishes to apply for the option within three months after the commencement of the first payment default.

Down Zoning

Kling and Associates Real Estate — Tue, 13 May 2008 17:26:39 -0700

The government cannot “take” or devalue property without “just” compensation.

If any State, County and/or City agency devalues an individual’s property through a regulation, re-zoning, change of classification, lowering of permitted density, and/or restriction of permitted usages, then that Governmental Agency shall be responsible for reimbursing said property owner for the value which has been lost.

If any governmental agency improves the value of an individual’s property through any of the above described processes, then no compensation shall be due the property owner.

This Statute shall be retroactive to 1999.

Accuracy in Assessing Acreage

Kling and Associates Real Estate — Mon, 21 Apr 2008 17:03:36 -0700

All County Assessors shall accurately calculate the acreage of all parcels of land within their county.

Legal descriptions and surveys shall be the prime factors in said accurate determination. However, the use of aerial photos will also be required to review and double check for accuracy. Discrepancies between property boundary lines defined by legal descriptions and existing fence lines as shown by the aerial photos shall be drawn onto the assessor’s maps. The assessor shall be held to within a 2% accuracy rate on all parcels of land which exceed .25 acre (one quarter acre).

Recently, it was brought to a local assessor’s attention that a home was currently represented and taxed by the assessor as being 14.22 acres. In actuality the acreage was only about 5.65–5.85 acres +/-. As anyone (including a first grader) may easily realize, there is an enormous difference between 14+ acres and 5+ acres---for taxation on assessed value and value for purposes of selling!

The assessor did not fix the problem. And, apparently the Assessor’s office is continuing to assess this property as 14+ acres (as they have for 20 years). The senior employee in the Assessor’s office commented that “It is not our job to calculate acreages of properties.”

Well---I say:

*It is not right to provide inaccurate information to the public---especially once the inaccuracy is brought to the attention of the office.

*It is not right to over charge or over assess any property owner.

*It is not right to give the public incorrect information and once advised of the inaccuracy, to make no effort to correct the inaccuracy.