If the city of Arvada is any indication, there just may be a new wave of building code enforcement by municipalities. As the article in The Denver Post indicates, http://www.denverpost.com/businessheadlines/ci_12652542, Arvada has recently flagged 15 homes for noncompliant remodeling projects, some done decades ago.
It seems a great way for municipalities struggling with reduced revenue and to-the-bone budget cuts, to raise a much needed infusion of cash. Will other cities and counties soon jump on board? I suppose we shall see soon enough.
To do so may provide temporary, but limited relief to the municipalities, but more importantly, could very well suck the wind from the sails of our struggling, but seemingly recovering real estate market, as sellers are prevented from selling a “tagged” property and buyers flee to either other “clean” properties or leave the market altogether with the added fear and pressure of government sanctions looming overhead.
Where is the sense of fair play when municipalities use unwary homeowners to relieve their budgetary woes, especially when these owners are sometimes two or three purchases removed from the original misdeed (failure to obtain the construction permit)? Are the homeowners really bona fide purchasers, innocent and unknowing about the updates done sans permits? Or, as the Post article seems to indicate, do they turn a blind eye to such things in order to enjoy a lower property tax rate?
So many questions, with so few answers. Perhaps the biggest question raised by all this is whether the city of Arvada may have singlehandedly succeeded in completely reversing the delicate economic and real estate market “recovery” in the metro area, which was seeming to eek out some much needed positive, forward movement.
Caveat emptor, let the buyer beware… ::SIGH::
June 23, 2009 at 8:14 am |
That’s too bad if Arvada is responsible for slowing overall progress in the metro area, but hopefully they will come out of this downturn soon as well.