Seller to Install Carbon Monoxide Alarms

Carbon monoxide, also known
as CO, is called  the "Invisible Killer"
because it's  a colorless, odorless,
poisonous gas.

Effective January 1, 2013, all residential properties are required to be equipped with carbon monoxide alarms. In addition, RCW 19.27.530 requires the seller of any owner-occupied single-family residence to equip the residence with carbon monoxide alarms in accordance with the state building code before a buyer or any other person may legally occupy the residence following the sale. Additional information about carbon monoxide is available at the Washington State Department of Health's website.

 

What is carbon monoxide (CO) and how is it produced?

 Carbon monoxide (CO) is a deadly, colorless, odorless, poisonous gas. It is produced by the incomplete burning of various fuels, including coal, wood, charcoal, oil, kerosene, propane, and natural gas. Products and equipment powered by internal combustion engines such as portable generators, cars, lawn mowers, and power washers also produce CO.

 

How many people are unintentionally poisoned by CO? 

On average, about 170 people in the United States die every year from CO produced by non-automotive consumer products. These products include malfunctioning fuel-burning appliances such as furnaces, ranges, water heaters and room heaters; engine-powered equipment such as portable generators; fireplaces; and charcoal that is burned in homes and other enclosed areas. In 2005 alone, CPSC staff is aware of at least 94 generator-related CO poisoning deaths. Forty-seven of these deaths were known to have occurred during power outages due to severe weather, including Hurricane Katrina. Still others die from CO produced by non-consumer products, such as cars left running in attached garages. The Centers for Disease Control and Prevention estimates that several thousand people go to hospital emergency rooms every year to be treated for CO poisoning.

 

How can I prevent CO poisoning?

• Make sure appliances are installed and operated according to the manufacturer's instructions and local building codes. Most appliances should be installed by qualified professionals. Have the heating system professionally inspected and serviced annually to ensure proper operation. The inspector should also check chimneys and flues for blockages, corrosion, partial and complete disconnections, and loose connections.
• Never service fuel-burning appliances without proper knowledge, skill and tools. Always refer to the owners manual when performing minor adjustments or servicing fuel-burning equipment.
• Never operate a portable generator or any other gasoline engine-powered tool either in or near an enclosed space such as a garage, house, or other building. Even with open doors and windows, these spaces can trap CO and allow it to quickly build to lethal levels.
• Install a CO alarm that meets the requirements of the current UL 2034 safety standard. A CO alarm can provide some added protection, but it is no substitute for proper use and upkeep of appliances that can produce CO. Install a CO alarm in the hallway near every separate sleeping area of the home. Make sure the alarm cannot be covered up by furniture or draperies.
• Never use portable fuel-burning camping equipment inside a home, garage, vehicle or tent unless it is specifically designed for use in an enclosed space and provides instructions for safe use in an enclosed area.
• Never burn charcoal inside a home, garage, vehicle, or tent.
• Never leave a car running in an attached garage, even with the garage door open.
• Never use gas appliances such as ranges, ovens, or clothes dryers to heat your home.
• Never operate unvented fuel-burning appliances in any room where people are sleeping.
• Do not cover the bottom of natural gas or propane ovens with aluminum foil. Doing so blocks the combustion air flow through the appliance and can produce CO.
• During home renovations, ensure that appliance vents and chimneys are not blocked by tarps or debris. Make sure appliances are in proper working order when renovations are complete.

Scarce inventory - jump in prices!

Northwest MLS figures show year-over-year prices jumped 14.9 percent for the 21 counties in its service area. The median price for last month’s closed sales of single family homes and condominiums (combined) was $258,500, rising from $225,000 for the same month a year ago. Twelve counties reported double-digit gains, led by Ferry (up 70.9 percent), San Juan (up 47.3 percent), and Island (up 36.1 percent).

Prices for single family homes increased 14.3 percent, while the median sales price for condos, which accounted for about 12 percent of sales, surged 19.6 percent. Two-thirds of last month’s condo sales were in King County; prices there leaped 28.6 percent, increasing from $175,000 to $225,000. The price of a single family home that sold in King County jumped from $330,000 to $392,000 (up 18.8 percent).

Closed sales during February rose more than 9% from a year ago and median sales prices are up 13 percent according to new figures from NWMLS.
Last month’s pending sales across the 21 counties served by Northwest MLS also increased slightly (1.7 percent) due in part to depleted inventory.

The number of active listings system-wide is down 29%  from a year ago.
Adding to the shortage is that about one-fourth of the MLS inventory is distressed property listings,  meaning they are short sales or bank-owned. These homes are sometimes in need of much repair or have delayed transaction times, which may make them less desirable.

Northwest MLS brokers added 7,497 new listings to inventory during February, for a slight increase from a year ago when they added 7,390 single family homes and condominiums to the database.

With the additions during February, the selection at month-end totaled 18,114 active listings. That compares to 25,510 offerings at the same time a year ago for a 29 percent decline.
Area-wide, the median sales price of single family homes and condominiums that sold last month was $247,500. That is a 3.4 percent gain over the previous month (January) and a 13 percent increase from a year ago.

For single family homes (excluding condos) the median price was $255,000, up about 11.4 percent from the year-ago figure of $229,000. Homes in King County commanded a median price of $365,000, rising from $308,125 for a year-over-year gain of about 18.5 percent.

Condo prices jumped 22.7 percent area wide (from $150,000 to $184,000) and more than 31 percent in King County, which accounted for nearly two-thirds of the transactions. Condos that sold last month in King County had a median selling price of $210,000; a year ago it was $159,950.

It is a good time to list because the inventory is low in the MLS and buyers don't have much of a selection of inventory.

You can save thousands of dollars listing for a flat listing fee instead of paying a listing commission (3% savings).  www.List4FlatFee.com offers $185 listing fee for Owners who don't want to use a full service real estate broker.

Facts of the NWMLS Market

Northwest MLS brokers added 7,390 new listings to inventory during February, about 400 fewer than the same month a year ago.
Brokers reported 7,623 pending sales during February, the highest volume since August when they notched 7,632 mutually accepted offers. Last month’s tally jumped 27.4 percent from twelve months ago, with 20 of the 21 counties in the MLS service area reporting double-digit gains.

Investors buying homes by the dozen

When Vena Jones-Cox entered the foyer of the once-grand Colonial-style home in downtown Columbus, Ohio, she stepped onto a wood floor that was so moldy and mushy that it actually wiggled. As Cox proceeded down the basement stairs, they disappeared from underneath her.
"I found myself lying on the floor," says Jones-Cox, 45. "Staring at a dead rat, by the way."
The house tour from hell didn't stop her from making an offer on the place. While she was at it, she bid on some other houses, too. Forty nine houses, actually.  Read entire story...

Housing settlement details due out this week

Final details are due out this week in the $26 billion settlement to help struggling homeowners and settle charges of abusive and negligent foreclosure practices, according to President Obama's housing chief.
The Obama administration made a big announcement nearly three weeks ago, touting that 49 states had agreed on a deal with the five largest banks providing relief to homeowners who were victims of improper foreclosures. The relief would come in the form of principal reductions, mortgage refinancings and small payouts. Read full story...

Tax deductions: Enjoy them while you can

Given the general tenor in Washington these days, there’s no telling which tax breaks will survive and which will disappear. Already some tax perks are gone. Remember Schedule L? On that now-defunct form, taxpayers could claim above-the-line deductions (that is, no itemizing necessary) for certain disaster losses, sales taxes paid for the purchase of a new car, and a limited amount of property taxes. Those benefits are not available on your 2011 return. Read entire story