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The saddest part of this agreement is that it will likely become the new norm for future WHA projects. Why wouldn’t it? You toss a bone like that to one group of purchasers, others will want it.
I’m pretty sure Dave Sharpe will want it. Dave wants the WHA to include the price of his appliance, countertop and flooring upgrades at Rainbow in the base value, for appreciation purposes, of the home he’s buying there. He made a facile argument in the Letters section earlier this month to that effect. He can’t understand why WHA would “…not allow the cost of this group of modest upgrades to be added to the base price of our homes?”
If you buy a WHA home, move in and decide to upgrade your appliances, countertops and flooring — and a surprising number of people do — those costs are not added to the base value of your home. There’s really no difference in buying those upgrades from the developer.
But Dave’s never been too keen on the workings of the WHA. He led the fight against WHA’s valuation of the homes at Barnfield, his first non-market home, insisting it should be valued by appraisal comparison with market homes, not based on cost to build. He also conveniently fails to mention in his letter he’s avoided the long, slow climb up the waitlist for Rainbow because of his employment with one of the project’s developers. Some guys are pretty hard to please.
Like all things caught up in the rush to the Olympics, this one’s a done deal. A bad deal, but a done deal. Let’s hope we can live with the consequences.