Rainier Valley Light Rail Update

There's been a lot of talk recently revolving around the light rail opening soon in Rainier Valley. After five years of construction, Sound Transit’s light rail is nearly up and running and not everyone is excited.

I've put together a couple of links so you can catch up on all the news.


The Rainier Valley Post is an AWESOME blog and if you live in South Seattle it is a must read.
On the Light Rail Issue:
Here you can find local opinions a plenty with viewpoints ranging from semi-racist, to hyper-informed, most worth reading. There are a couple of different articles written on the subject, so be sure to check this blog out.


The Seattle Pilot has a recent article that expounds on the development, or lack there of, that the light rail has brought to Martin Luther King Blvd.

Seattle Transit Blog talks about similar development issues surrounding the transit line.

Public Purpose This was written a few years back and is the "against" in the light rail argument. It's pretty dense read, and if I had to summarize that main point of the article can be understood with this quote:

Sound Transit is hurrying to sign a 'full funding grant agreement" with the federal government. That will oblige the region to complete the project, without regard to its burgeoning costs, diminishing benefits, or the fiscal capacity of current taxing authority. This is a precarious moment in the history of Seattle and the region.

So there you have it. If you're in the area, and would like to chime in with an opinion, please feel free.


-Raj

Distressed Property Law Changes Realtor® Liability

Changes to the Distressed Property Law have passed both branches of the Washington State Legislature and the bill is headed to Governor Gregoire’s desk for signature. You can read the piece of legislation here. Agents are now exempt “from the definition of “distressed home consultant” when the broker or salesperson is providing services governed under the real estate brokerage laws and the services do not result in a distressed home conveyance.”

Realtors® had been unhappy when their liability increased under the original Distressed Property Law. Many Realtors were refusing to list short sales because of the risk leaving potential clients wade the murky foreclosure waters on their own. Things began to change in early 2008 as the foreclosures began to pile up like. Now thanks to the pending law change Realtors® are now exempt from the DPL. However, not all Realtors® are trained to deal with foreclosures, so make sure your Realtor has attended a certified course and knows what he or she is doing.

Check out Seattle Foreclosures here.

Redfin To Begin Working With Outside Agents

Seattle-based online real estate brokerage Redfin has announced it will stat working with outside agents in markets where it has no agents of its own.

"We've got nearly half a million people browsing our website in areas where we can't afford to have agents," Redfin Chief Executive Glenn Kelman said. "So we're asking those folks if they want to work with a traditional agent, but on Redfin's terms."

Clients who buy form one of the outside agents will receive half of Redfin's referral fee, which is usually run 30% of the agents commission.Customers will be able to choose an agent from profiles that show details of every transaction since Dec. 15, 2007 and every review Redfin could get for those transactions.