Think about it ... all the many many homes that were newly constructed during the hey-day of the real estate boom of the early to mid-2000's. Thousands and thousands of homes ... and businesses too. Every region of the United States was experiencing a burst of new construction activity during that time. Millions of Americans took part in this construction explosion.
Now it is being reported in the latest ConsumerReports issue that more than 2,000 of those new homeowners from 32 states have complained that the electrical equipment within their home is corroding and causing them health concerns and sickness.
The villain in this matter has been determined to be the Chinese drywall installed within many homes between the years of 2003 and 2008.
Stories regarding this drywall problem have popped up in many other periodicals across our nation over the last two years ... and scam artists are taking note. They're hoping that many of the homeowners that built during that time period have taken note too.
Scammers see real money-making potential surrounding this issue and have started to market fake "tests" or "treatments" to correct the corrosive problems reported. They are invoking fear into homeowners with the hopes of making some big dollars. They can do this because many homeowners are not aware of the origin of their drywall.
The FTC has issued a warning regarding these con artists and ask that we all be "on the alert for anyone trying to sell test kits, inspections, and quick fixes for tainted drywall".
They also want us to be aware that, to this date, there are no federally approved testing kits or methods for repairing the drywall in question. This situation is something all within the real estate industry should especially take note of and stay current with.
Here's a little additional background information on this topic, as well as current info on resulting litigation: Last year, a default judgment was entered again Taishan Gypsum (a company which is controlled by the Chinese government) for failing to respond to a lawsuit. As a result, Taishan cannot contest liability, however, the court still must determine the damages to be awarded (i.e., what must be remediated and the cost). The trial is scheduled to begin on February 19, 2010.
Special Master Michael Rozen announced that settlement negotiations with the manufacturers of Chinese drywall have been ongoing and he is "optimistic" about a resolution in the "short term."
THIS IS VIEW OF WHAT CHINESE DRYWALL DOES TO A HOME'S AIR CONDITIONER.
For further information regarding Chinese drywall and the upcoming trial, or if you suspect your home or a home of a client may be effected by this serious issue, go to: http://www.chinesedrywall.com/
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