[8] November 4, 2011
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REAL ESTATE & FINANCIAL KIRKLAND
Your guide to Real Estate and home buying & selling
How the real estate market fares in Kirkland
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How to look for potential financial exploitation of vulnerable adults Recently, I attended Washington’s 8th Annual Conference on Abuse of Elders and Adults with Disabilities. This conference provides valuable insight to those individuals who may encounter elder abuse, including law enforcement, caregivers, ombudsmen, and any oth-
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er professionals or adults interested in learning more about this growing issue. As baby boomers age and life expectancy increases, the population of older adults increases. In turn, the pool of potential victims increases. Combine this with a downturn in the economy, substance dependency issues, and what seems to be a growing need to “keep up with the Jones” and you can understand why elder abuse is on the rise. Elder abuse involves a wide range of topics, such
as physical, sexual, and mental abuse. Sometimes forgotten in this definition is financial exploitation. Financial exploitation involves a person who intentionally manipulates another for his or her own gain. The victims tend to be vulnerable adults who are targeted due to their medical, emotional, or psychological state. The victim may be lonely or suffering from dementia, whether diagnosed or not. Perpetrators may come from anywhere, including family members, caregivers, religious groups, social organizations, strangers, etc. Signs of potential abuse include the following: • Changes in routine
COMMENTARY
Financial exploitation of older adults
• Changes in body language and mannerisms • Changes in social interaction • Not bathing or eating • New “friends” • Changes in spending habits The above is obviously not all inclusive. I urge everyone to be aware and interact with your parents, grandparents and neighbors. Take any complaints you hear seriously, even if it is something that you could never imagine happening to your loved one. If you suspect abuse, contact Adult Protective Services (APS) at 1-866-EndHarm (1-866363-4276) or visit their website at www.aasa.dshs. wa.gov/APS.
percent increase in sales from 12 months ago, this has not translated to higher prices, which have decreased 5 percent across the board. The inventory is down 21 percent and the average market time to sell was 105 days. So, how does Kirkland compare with those figures? We’ve seen an increase in
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time or inclination to make repairs after purchasing and are searching for a home in turn-key condition versus a foreclosure, distressed sale or the like which usually need much more work. According to the Northwest Multiple Listing Service, even though King County has seen an average 20
Steve Geertz
homes that are in poor repair or lacking any substantial remodeling are still lingering on the market for months, whereas those that are in pristine condition in similar locations usually sell in days and multiple offers aren’t that unusual. Our busy and savvy buyers today just don’t have the
homes on the market has dropped dramatically, the number of sold properties has been very consistent throughout the year. This confirms that even though it is still a buyer’s market with prices holding or trending slightly downward, the homes that have sold here have been priced [ more MARKET page 9 ]
COMMENTARY
I
n today’s housing market, Kirkland and the rest of the Eastside are experiencing low inventory and stiff competition for homes that are in move-in condition, updated and priced realistically. The low inventory is a normal seasonal event, but the difference is that the
sales of 34 percent from a year ago, though our average sales price has decreased 7.7 percent and inventory is down 28 percent from this time last year. Kirkland’s average market time is 100 days for the year, but that has dropped considerably to 83 days in the last six months. Even though the number of
Patrick O’Neil
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