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Drywall homes: bargain or bind?

by Mary Wozniak

Florida homes tainted by defective Chinese drywall are popping up on Realtor.com at bargain-basement prices. Although it is not required by law, many brokers have readily adopted a new drywall disclosure form developed by the Florida Association of Realtors® to use in sales transactions.

There currently are nine drywall properties listed for sale on the site - all of them fairly new and for under $50,000 - but there also are questions about whether the low prices are worth the hassle the real estate could bring in the future.

It reportedly costs about $100,000 to clean up a property contaminated by bad drywall, which leaves an offensive smell, corrodes metal components in the home, and causes respiratory problems and other health troubles for occupants. Remediation typically involves gutting the home and replacing the affected materials, but it is not yet known if that is the final solution.

"What if they say every porous material in the home, including concrete slab, absorbed enough stuff to consider it a health risk," poses Jeff Tumbarello, president of the Southwest Florida Real Estate Investors Association. "Then what? Then you're done. (Investing in a Chinese drywall home is) just a big wild card. Somebody is going to look brilliant, somebody is going to look stupid. We just don't know who they are yet."

http://www.floridarealtors.org/NewsAndEvents/article.cfm?id=221337

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Posted by Miami Best Real Estate Team on 08/19/2009 07:12 AM

Comments (2)

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2 Comments on Drywall homes: bargain or bind?

AUG

I know some Realtors in Florida who were talking about this up here where they also have a home. What an unbelievable turn of events in a market that does not need any more bad news

SEP

Good morning Jon,

Plagiarized? I find it hard for you to believe I could get away with plagiarizing an article that was written by Mary Wozniak of the Fort Myers Press in August and distributer to over 50,000 Florida Realtors in our Early Bird news emails...lol.

As well I find it even more ridiculous that you would even take the time to leave such comments about something so trivial. Your actions are a very good example of why Florida real estate agents have a bad name among home buyers and sellers. If we can't use the benefit of our local and national membership, our blogs and post to work together who else is going to want to work with us?

Jon, since you are such an admirer, if you haven't figured it out by now my blogs and it's content sponsored by many of my close friends who are writers, reporters, agents, etc., aims to provide the most recent industry news, trends and helpful tips to raise awareness to our customers and the general public about the home buying process and home ownership enabling them to become a better informed homeowner.

Until yesterday I didn't know you existed and based your actions you continue to display unproductive values so I would like to keep it that way.

This will be my last time responding to one of your comments. If I run across another comment on any website that defames my business, my name or any one on my team in accordance with the 2008 Code of Ethics and Standards of Practice of the National Association of Realtors I will file an ethics complaint against you. Please read Article 15 below:

Duties to REALTORS^®

Article 15
REALTORS^® shall not knowingly or recklessly make false or misleading statements about competitors, their businesses, or their business practices. (Amended 1/92)

Standard of Practice 15-2

The obligation to refrain from making false or misleading statements about competitors' businesses and competitors' business practices includes the duty to not knowingly or recklessly repeat, retransmit, or republish false or misleading statements made by others. This duty applies whether false or misleading statements are repeated in person, in writing, by technological means (e.g., the Internet), or by any other means. (Adopted 1/07)

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