Q: I am really confused about "recreational" property for sale.

I see that term on several listings for waterfront land and even some inland property. You told me it almost always means that the property is unbuildable. I talked to someone recently who said that maybe that kind of property could be built on if you know the right builder, or that you could at least put a rustic cabin on it. I just want a place to build a shed and boathouse to store my boat. Can you tell me more?

A: Virtually all property advertised today using the word "recreational" property is not buildable. It could be that it doesn't perk for any kind of septic system. It also might be without a water share and too small for a drilled well. There are many reasons why it might not be buildable.

If most waterfront and view property currently for sale is priced at $200,000 to $600,000 or even more, and you see one for $30,000 to $80,000 you can almost bet it is not buildable. The price tells you the story. Even inland property will be over $100,000 unless it is a very small lot.

According to King County, you can't build an outbuilding, cabin, storage building or anything else unless you have a house on the property. That means that recreational property is only good for temporary camping or picnicking. You should meet with the King County technician at our local courthouse and find out what uses might be allowed. He's there every Tuesday morning to answer questions.

It's common for neighbors to buy such land to increase the size of their property, create a green buffer for themselves, or even to provide waterfront access for their home.

When buying undeveloped land, it's critical that you do a feasibility study. You need to find out everythink you can about the property and its potential. Many a buyer has jumped into something that sounded too good to be true, and guess what? It was.

Q: We’re getting ready to sell our house and keep getting very conflicting advice.

One agent had this huge list of things she wanted us to do before we put it on the market. Some of it was expensive. We are selling to buy down in another community and really don’t have money to spend on lots of fixing up. One of the other agents we talked to said to wait until the market is hot again. We just can’t do that. Any thoughts?

A: No one can tell if and when the market will be “hot”. Our local market is relatively stable and houses are selling quickly if they are properly priced so this is not a bad time to sell. You need to do what works for you and it sounds like selling is what you need to do.

As for fixing up, I would recommend you do the following, instead. Have the house cleaned or do it yourself. I mean cleaner than it’s ever been! Store most of your personal items so that it appears open and tidy. Wash the windows, cut the grass, weed the yard, and just do a general sprucing up. Get rid of any extra stuff in the yard or garage.

A tidy, really clean house that presents a good picture as a potential buyer drives up will always be appealing. If you have any really dark rooms, paint them a lighter color. Sometimes just washing the walls will restore brighter color. Have the carpets cleaned. If you can’t do all this yourself, ask friends to help. It really is that important.

When you interview prospective listing agents find one that is enthusiastic about your home and gives you good, inexpensive hints on making it show better. Be sure they do a market analysis for your home and price it to sell. Even if you have a number in your head that you “need to get out of the house” remember that your needs are not the deciding factor here. It has to be attractively priced to catch the buyer’s attention.

Q: We’ve been waiting to buy for a couple of years.

We needed to save up a down payment and were hoping prices would drop. It doesn’t look like they are dropping but we’ve heard that there will be a huge drop in prices in the fall. What do you think?

A: No one has a crystal ball and can see into the future, but according to financial publications, forecasters and industry analysts, I would not expect a major drop in local real estate prices at any point in the future. We are fortunate to live in a state that has not been as affected by the sub-prime disaster, and Vashon Island remains a boutique market that is highly desirable.

What is notable for us on Vashon is that we currently have a larger than usual inventory of homes. In addition, there are many more “affordable" homes in the lower end of our price structure. That means lots more homes for you to choose from.

Interest rates remain very low and there are new FHA programs and other lender programs that offer help to lower income buyers. I remember that you folks qualified for $375,000 the last time you were looking but we had almost no homes in that price range to look at. Currently we have 14 houses on the market for that price or less.

This is a good opportunity to take advantage of the combination of a large ( for us) inventory of homes to chose from, low interest rates and good financial packages that offer some special programs.

In our rush to make a good investment and even anticipate making money on the future sale of our home, we shouldn’t lose sight of the fact that we are also providing a roof over our heads.

The benefits of owning a home are not just measured in money. A safe, secure home for you and your family, the chance to use the mortgage deduction on your income taxes and the pride of home ownership all should be considered in deciding that it’s finally time to buy.

Q: We own a home on Vashon but are thinking seriously about buying a condo in the city

for those days when we work really late or are attending an evening event. We have a real estate agent that we’re happy with, but we don’t seem to be able to find out about crime in the areas we are interested in. We also worry about noise, especially on weekends. Most of the condos are in the downtown area close to stores and restaurants. Any ideas?

A: Your Realtor probably knows the neighborhoods very well and can advise you, but there are a couple of things I’d recommend. First, check with the police department. They have a break down of crime by the type of crime and number of crimes committed in each neighborhood. That should be helpful.

Be sure and look on the Internet for comparison with other similar-sized cities. It could be a shock to find that the neighborhood you are interested in has dozens of assaults, for instance, but that number might be very low when compared to other cities of the same population.

I would also recommend that you drive around in the area, or even walk it, late on a Friday or Saturday night for a couple of weekends. That should tell you how much traffic noise, or loud music from taverns and events there is. It will also give you an idea of what’s happening on the street.

Obviously drug activity should be a major concern, so ask the police department about that. Be observant about unusual behavior around the condos you are interested in. Some of the condo buildings, especially some of the newer ones, have a lot of security and you should check that out as well.

Another idea might be to stay in a couple of hotels that are very close to the areas you’re interested in. That should tell you a lot about noise and the general street scene. Cities have their own rhythm, and it takes a while to get used to it. Best of luck.

Q: I bought a cute little waterfront cabin a couple of years ago and can’t believe how much money I’ve had to put into it.

No one told me about these problems even though I used a real estate agent. I knew it was sort of a fixer when I bought it but

I‘ve put almost $100,000 into it and none of that was to remodel or up date the house itself.

First, there were septic problems and I had to jump through a lot of hoops with the County to get that fixed, then I had to fix a leaking foundation, and then it needed a new roof. I had an inspection but none of this was really clear. Do I have a case against the real estate agent?

A: First, only an attorney can tell you if you have a case. What I can share with you is that legally, agents aren’t responsible for problems that they can’t see or have no personal knowledge of. A few of us go well beyond the law and investigate potential problems but we are not required to by law.

Since you had an inspection I would recommend that you go back and take a real hard look at that. Other than the septic, which is not included in a home inspection, the other issues should have been noticed by a competent inspector. Perhaps, in your eagerness to get the property, you didn’t give the inspection much serious thought.

Almost all of our waterfront cabins and cottages were built early in the 20th century with the thought of being temporary vacation getaways. Most are poorly built and have had little maintenance. I generally tell people that they are buying the land and a potential remodel permit. None of these homes could be built today with the restrictions we have.

You should consult with a good real estate attorney who can go over your contract and paperwork to see if there was culpability on the part of the agent or the inspector, but I would guess there was not.

Q: I’ve been trying to buy a house but I don’t qualify for a loan.

My credit isn’t very good and I don’t have any savings. I talked to one loan guy who said he could get me a loan with no money down but he didn’t like my credit score. Do you know of any loan people who can give loans to someone with a really low credit score?

A: After all of the news about sub prime loan failures across the country and bank failures among those lenders who gave such loans, I would think you might realize that banks don’t want to take on high risk clients and you’re a high risk. No reputable lender will give you a loan at this point.

You should begin working to improve your credit score and start to save some money. Even loans with no money down, and there still are such loans, will require you to pay some costs at closing.

I recommend credit counseling. There are several places where you can get free credit counseling and that can start you on the road to financial recovery. Those counselors can also help you find ways to make better decisions concerning how you spend your money so that you can get on the road to homeownership.

Part of the issue for you, it seems to me, is the problem of delayed gratification. As long as you buy every new gadget that you see and think you want, you will never accumulate savings. As long as you fail to make payments on time, you will never improve your credit score.

If you really want a home of your own you have to resist instant gratification and learn to wait, and save, for something you want more. Also keep in mind that owning a home brings with it other expenses over and above your mortgage payment such as taxes, insurance, repairs, and maintenance. Best of luck!

Q: My husband is bugging me to refinance the house to get a lower interest rate and to pull out some cash for a few things we need.

Our washing machine is sort of on its last legs, my car is getting old, and we want to join some friends on a vacation to China. I’ve been reading the news about all of the problems with the economy and I’m not sure this is a good idea. What do you think?

A: This is an excellent time to refinance. Rates are very low and if you can afford slightly higher payments you could get even better rates with a 15 year mortgage. What I would be very careful about is taking out cash.

Because there are so many unknowns in the economy, this doesn’t seem like a great time to buy “toys” and gadgets. You can get along with an older car, with a washer that is still working but not the latest model, and maybe take a vacation closer to home.

According to recent statistics and studies, the Puget Sound region, and Vashon in particular, have escaped the extreme downturn in the real estate market we are seeing elsewhere. However, no one can predict the future. This would be a good time to pay down debt, not incur more.

It’s always tempting to use the equity in your home to purchase things you think you need. This is what I have seen as a problem in the few foreclosures we’ve experienced on Vashon. These were not folks who had sub-prime loans; they were folks who simply kept borrowing more and more on their home until they had borrowed more than the house was worth.

A job change, divorce, family illness, or any number of things can change your life quickly. Some of those folks had to sell their house to deal with their life changes and lost money. Many also lost their credit rating. I think I’ll agree with the experts that this is a good time to stick to a modest financial plan and save.