What Realtors? Are Doing To Ensure Vibrant Communities and Housing Options Across the Economic Spectrum

Recently I had the opportunity to attend the Washington Realtor? Fall Business Conference. It was supposed to be in Wenatchee but alas was conducted via Zoom for the reasons we know all too well. Regardless, it was an opportunity to connect with fellow Realtors? who, in addition to helping clients like you buy and sell houses, are actively engaged in local and state politics in our efforts to serve those same clients by protecting and promoting the right to own, transfer and use real property. As a Realtor?, this is our pledge and as a State Director for Washington Realtors? and an active member and major investor in the Seattle King County Realtors? PAC government affairs sub-committee, I take a keen interest in and active role in keeping that pledge. We work tirelessly ‘behind the scenes’ of most buyers and sellers to advocate and influence for your property rights. Some of our recent local accomplishments include proposing county policies to increase housing inventory, shaping local regulations that make new home construction less expensive, as well as preventing point-of-sale energy mandates.?

Priority legislation at the state level include the following bills:

House Bill 1157 - Sponsors: Rep Bateman (D), Rep. Gilday (R)

An act relating to increasing housing supply through the growth management act and housing density tax incentives for local governments. What it does:

• Increase “Missing Middle” Housing Supply and Density Incentives
• “Missing Middle” housing types such as duplexes, triplexes, townhomes, and small multifamily buildings are the most affordable housing types that fit within neighborhoods and are more affordable for first-time homeowners and renters. Local governments should be incentivized to increase housing supply while retaining flexibility as to where housing density increases occur.
• HB 1157 would amend the Growth Management Act (GMA) to include missing middle housing types and create consistency between the GMA Land Use and Housing Elements, and allow local governments to establish density incentive zones to capture some of the new tax revenue that would be created by (and would not exist without) local actions to increase housing density.

Senate Bill 5024 - Sponsors: Sen. Padden (R), Sen. Pedersen (D)

An act relating to reducing barriers to condominium construction. What it does:

• Improve Condominium Construction Financing.
• Demand for new condominiums continues to exceed available supply, especially for first-time homeowners and those seeking to downsize.
• SB 5024 improves the condominium construction process by allowing a portion of deposit funds to be used for certain unit construction costs, which will improve the financing process.

Senate Bill 5221 & House Bill 1298 - Senate Sponsors: Sen. Gildon (R), Sen. Liias (D)/ House Sponsors: Rep. Vick (R), Rep. Springer (D)

An act relating to regulation of accessory dwelling units located outside of urban growth areas.

• Clarify Authority for Detached Accessory Dwelling Units in Rural Areas.
• Detached Accessory Dwelling Units (ADUs) are separate small residential units that provide affordable housing for renters and makes ownership more affordable, while providing options for younger and older family members.
• Current “law” (from the Growth Boards) prevents detached ADUs in rural areas by including them in rural density calculations. SB 5221 would clarify that such ADUs are not included in rural density calculation if the units meet specific limitations on size, location, and appearance.

Efforts like these are critical to ensuring vibrant communities and housing options across the economic spectrum. As I explain in my Market Minute, the rapid rate of price increases in our competitive market demand attention and creative solutions, but they also require us to think differently and be open to options that include more density and redefining what a “typical” neighborhood looks like.? As your local Realtor? engaged and involved with colleagues and government liaisons, I am sincerely interested in your thoughts on these matters so please reach out anytime to share your thoughts – I want to hear from you! Send me an email ([email protected]) or a text (425-495-0926).