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Buying a Historical Landmark

Interested in buying a home that's on a register of historic places? If so, you could be stepping into a lovely slice of  history, but it's  likely you will be expected to help preserve and maintain it. This goes for stand-alone houses and condos that are part of a historically-significant building.

Richard Hagar, a Seattle-area appraiser, says there are historical registers on the city, county, state and national level. Each one has a preservation board with a different set of criteria.

"What they're looking for," says Hagar, "are unique structures both in style and construction."

Hagar says that getting on one of these lists comes with a commitment to be a guardian of the place. The property has to remain the way it is, including the exterior and sometimes the interior. And he warns, "once your place gets vetted and put on one of these lists, it's difficult to get off." But he says on the plus side, you get a break on your property taxes.

Asked what the challenges are of appraising a property that's on a historical register, Hagar doesn't hesitate to respond.

"First of all," he says, "it takes a long time, between two and four weeks. There are so many unique features to examine. For example, I just appraised a house on Seattle's Queen Anne Hill that is a historical landmark and the whole exterior is covered in terra cotta tiles, just like pottery. So, that's truly unique. Trying to find a comparable to that is really tough!"

John Maynard started working in radio in the seventies as a DJ at Seattle’s KJR AM which at the time was the dominant AM station in the Seattle market. After a brief stint as a restaurateur and night club owner, Maynard returned to radio with Robin Erickson, creating the hugely popular “Robin and Maynard Show.” In the more than 20 years under that marquee, Maynard flew with the Blue Angels, piloted the Goodyear Blimp, sang with Donny Osmond and hung out in a Universal Studios bar with Kojak (Telly Savalas).
Richard Hagar's real estate career spans more than 30 years. He currently serves as a real estate investor, real estate agent, appraiser, and an SRA with the Appraisal Institute.