This Idea Stinks! City of Tacoma Mandates Sewer Scope

The city of Tacoma thought it was a good idea to mandate "sewer scopes". This really isn't a bad idea, just really bad timing! Had they mandated scopes in 2004, I'd be $7,000 richer today. Yes, in one of my more recent homes I replaced the sewer line to the middle of the street. Anyway, most counties have had mandated septic inspections for quite some time. No difference, really. In fact, it's a really good idea as many homes in Tacoma have reached the age where sewer pipes are not only failing, but have been so for many years. So, it's good for the environment (as there is likely seepage from many homes), good for the new buyer, but bad for the seller. In fact, everything is bad for the seller right now!

My point is that this mandate comes at the worst possible time. It's hard enough to sell/buy a home in this market and this makes it that much more difficult. Ultimately, our overall economy suffers from a lack of movement, continued saturation, and frustrated buyers and sellers. You see, many lenders are now asking to see the inspection reports, and if this is mandatory, replacement could run upwards from $6-14,000. May sellers just don't have the equity or cash right now. Where is that money coming from???

Many of the sales in this current market stem from short sales and foreclosures. In a short sale, the seller has no money and the cooperating banks are unlikely to pay an additional $6-14,000 to repair or replace the line. There are so many variables and complications involved, thus complicating the sales and making it that much more difficult for the underwater short-seller to try and come further out of the water? It is truly a ripple effect with the best of intentions, but comes at the worst possible time.

For now, the city has postponed the deadline to October 2010. Gee thanks...the market should make a full recovery by then :(.