Congressman denies he got deal on house

[quaoar]

http://www.kansascity.com/mld/kansascity/14216409.htm

SAM HANANEL
Associated Press

WASHINGTON - Rep. Jim Ryun on Wednesday denied allegations by Democrats that he received a "sweet real estate deal" when he purchased a town house from a nonprofit group with connections to lobbyist Jack Abramoff.

The Kansas Republican bought the historic Capitol Hill town house for $410,000 on Dec. 15, 2000. That was $19,000 less than the U.S. Family Network paid for the home about two years earlier in January 1999, despite a sharp rise in local real estate values during that time.

He denies receiving any favorable treatment in the purchase. He declined to be interviewed but said in a written statement that he paid "fair market value" for the home.

Ryun said he negotiated the sale price after a housing inspector found a structural problem that would require up to $20,000 to repair. He said the seller also saved money on the deal by not having to pay a real estate agent's commission.

[KingFlorez]

1. Again?

The more scandals for them the better

Look up Ryun's opponent, Nancy Boyda http://www.nancyforcongress.com/index.php

[warrens]

2. If he's telling the truth, it MIGHT be kosher

But the chances he's telling the truth are practically nil.

[Rose Siding]

3. The AP busted his phony explanation, but didn't include quotes from any

real estate experts.

snip>
To bolster his argument, Ryun's office released documents showing that another home on the same block was sold for $409,000 on the same day he bought his home. Property records show the other home is on a land area about half the size of Ryun's and is now assessed at $236,000 less than Ryun's home.

[Ilsa]

4. Sounds okay, depending on the inflation in RE over the two years.

Not having to pay a sales commission and the fact that it needed repairs are reasonable, if they are true. I'm willing to give him the benefit of the doubt until it is investigated.

[quaoar]

7. Oh sure

I'm sure that Jack Abramoff didn't expect anything in return after closing this deal.

[MuseRider]

5. He declined to be interviewed

for good reason. Have you ever heard that dude speak? LOL. Of course you have not heard him because I think all he ever does is sit there and say yes to everything Tom Delay tells him to do. I hope this helps us, run Nancy run!

[mwdem]

8. Hey, Muse!

I was just checking out the Kansas forum and caught this story. One thing I don't miss about Kansas, but I did jump out of the frying pan into the fire!

[PsN2Wind]

12. There is ever so much

I don't miss about Kansas. Although I remember how proud Wichita was of him when he broke the four minute mile while in high school. Don't know much about him since but if he's a Kansas Repub, 'nough said!!

[mwdem]

15. Oh, you know he's a Repub!

*

[MuseRider]

13. HEY!

How are you two! I hope everything is going well. It is spring and windy and bad weather up here predicted for tomorrow. I don't imagine it is too much different where you are.

I do hope things are going well for you. Come and visit when you can, we can plan a special DU meetup.

[mwdem]

14. We're doing well, considering.

I was diagnosed with breast cancer in Jan., had mastectomy one week later, and doing chemo #3 out of 4 next Monday, and will be finished on April 24. Bald as a bowling ball, but my wig, "Patrice", is my best friend. She's a saucy, blond number! Our weather is supposed to get a little cranky tomorrow. We'll be out your way sometime around the end of May, first of June. My golden is out there with her co-owner and 6 new pups she had Sat. We'll be out to pick her up. I'll keep you posted. Take care!

[MuseRider]

16. I had no idea!

I am so sorry, what a time for all of that to happen (as if there was ever a good time). You are half way through, it is difficult. Ice chips before your treatment. That was the best advice I ever heard from a woman who was almost done to my mother who was just starting.

I can see you as a blonde! I'll bet you look gorgeous but then you always did. :hug: take care and let me know if we can do anything.

[mwdem]

17. Thanks! I hope to see you guys soon.

Like I said, I'll let you know when we're coming out. Maybe we can meet in Lawrence. How's your mom doing?

[MuseRider]

18. That would be great!

I will be so excited to see you again.

My mother had throat cancer and would not go to the doctor until she was so oxygen starved she killed half her brain cells (I was an ICU nurse, my husband a Doctor and we could not get her there). She died 2 1/2 years after she wasn't coherent enough to know where I was taking her. It took 6 of us to eventually explain it to her. SO, she was not in the best shape to start with and her cancer was so far along that there was not much hope from the beginning. She died about 10 years ago.

[mwdem]

19. Ohh, sorry. It's tough when someone's so stubborn.

Me, I do everything my (all female team) docs tell me. I couldn't be happier with my care here. The chemo is for insurance, and it's a new regimen, less toxic, so I'm very pleased. So far, so good, I just want to get this over with!

[izzie]

6. Well maybe the real estate bubble has not got to DC yet

I am sure all town houses in DC went down in value and that is why they sold it for less. And maybe this man would buy that bridge off me?

[Poppyseedman]

9. All of the above can be proved by documents.

If they are there and accurate. No problem.

If not. Pay the piper

[salin]

10. several real estate folks have estimated that the sale price

was $80,000 to $100,000 undervalued per comperable homes at the time. That's a little more than a "$20K" structural negotiation. Looks like yet another GOP "annointed" congressman is suddenly in hot water.

[Digit]

11. RE prices in the DC area began escalating in 1998

I should know...I sold my home in 1997 just before things took off and I had been a licensed Realtor in Va, at least since forever. I know, my timing sucks.

I have a call into my best bud who is a Realtor in DC, MD, and VA....
His good friend had a TH on the Hill which I believe he sold in 2000.

Anyway, I can get the scoop.

[AndyTiedye]

20. They Did The Same Kind of Deal for "Duke" Cunningham

Bought his POS tract home for 50% more than it was worth, and "sold" him a mansion at half the going price.

Before



After

[Digit]

21. Here is a comparable home on same block, sold at same time:

December 2000, 2 Bedroom, 2/5 Bath on corner lot, NO garage. Listed for $549,000, Sold for $555,000

The property in QUESTION was a 4 Bedroom, 3.5 Bath with a detached 2 car garage sold in Dec 2000 for $410,000

Source: MLS Data

Draw your own conclusions....