2016 Hill Day Series: Condominium changes could add needed housing
In recent years, condominium construction has lagged significantly, just as the demand for more affordable owner-occupied housing has increased in the Puget Sound region. REALTORS® seek a solution to this disconnect between market demand and depleted supply.
Many believe a simple change to the state law regarding construction defect claims would boost condominium construction to better meet consumer demand. REALTORS® support a bill, SB 5961, which would require that a developer be notified of, and have the opportunity to inspect and remedy, any construction defects before an owner could bring a lawsuit.
Developers currently favor apartment construction, rather than condominiums, because of the increased liability incurred in condominium construction under current state law. The proposed change does not limit a consumers right to sue for construction defects, but does require prior notification and a cure period for resolving construction disputes.
2014 Seattle King County REALTOR® President Joan Probala met with Senator Steve Litzow (R-41) to discuss the need for housing options in King County. The Senator voiced support for a solution that would promote condominium construction to meet the need for housing more affordable to first-time buyers.