Wednesday, March 29, 2006

A little more on Ryun's house

Apparently Congressman Ryun cares more for the AP than for his home state press. I couldn't get an explanation from him, but the AP reports that he denies he got a deal on the house:
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.
Which rather undermines the point.

More substantively, Ryun claims that he just heard through the grape-vine that Delay's staffer's group was planning to sell the house, so he approached them. By cutting out the middle man and by negotiating over a structural problem, he shaved the price down.

He paid about $100,000 less than the house was worth on the open market. That's what DC real estate agents think and what general market trends indicate.

Ryun claims he saved $24,600 by skipping a broker, and that they knocked the price down to accomodate a structural problem that could have cost up to $20,000 to fix. That adds up to at most $50,000 saved, leaving the other $50,000 unexplained. By his own accounting, Jim Ryun managed to pocket $50,000 of Jack Abramoff and Tom Delay's money.

“Congressman Ryun’s shady real estate deal is just the latest example of the Republican abuse of power,” Kansas Democratic Party Executive Director Gaughan said. “Kansans deserve a representative in Congress who is working for Kansas families, not for corrupt Washington, D.C. politicians.”