Overvalued houses

It seems to me, based on my neighbor’s response to the housing crisis in Spokane, that their true colors are showing. This is not a $400,000. neighborhood. And yet, thanks to television programs about “flipping” houses, some people seem to think it is. All I can say, is “Let the buyer beware.”

Just because they can make a sow’s ear look like a silk purse does not mean that these renovated houses are like new houses. They are Renovated Houses. They still have old electrical wiring, old plumbing, old furnaces and other problems related to their age and past maintenance.

These houses are being priced like new homes because of supply and demand. Out-of-town buyers are being fooled by cosmetic treatments and skilled photographers who work for the real estate companies. For the most part, these houses are being overvalued by at least $50,000. “Let the buyer beware.”

Norene Zehm

Spokane Valley