I don't know how much of this was used on the left coast but Lenn's right - we're just seeing the tip of this iceberg and it could sink more than a few homes.
CHINESE DRYWALL ALERT - DRYWALL INFORMATION CENTER - INTERIM REMEDIATION GUIDE. A series.
IN THIS REAL ESTATE BROKER'S OPINION, we've seen only the tip of this gigantic iceberg size burden on the American home owner. The numbers are just beginning to come inand reflect some disturbing facts about the widespread nature of this assault on American Home Owners: To date, the CPSC has received about 3,082 reports from residents in 37 States.
Sadly, as with any catastrophe that hits the American home owner in the pocketbook, most, if not all, of the cost will be born by the home owners. Or, worse, they will suffer in silence with real property that deteriorates before their eyes. Those that recognize the problems in their homes will reach out to sources that advise:
FIX IT YOURSELF ! ! !
The federal, state and local governments have, indeed, recognized the enormity of the problem, but offer little to no resources to assist the home owners beyond the advice from the Consumer Product Safety Commission and the Department of Housing and Urban Development dated April 2, 2010.
Interim Remediation Guidance(From the CPSC) advises that home owners who have identified the tainted drywall replace the following components and/or systems in their homes:
1. all possible problem drywall;
2. all fire safety alarm devices (including smoke alarms and carbon monoxide alarms);
3. all electrical components and wiring (including outlets, switches and circuit breakers); and
4. all gas service piping and fire suppression sprinkler systems.
The CPSC further advises that all testing and remediation work should be conducted in compliance with applicable building codes, occupational safety and health standards, and environmental regulations.
CAN ANYONE ESTIMATE THE COST OF THESE REPLACEMENTS TO THE AVERAGE HOME OWNER? A simple estimate of replacement of the drywall for the average home can be in the range of $50,000 to $100,000 for a 1800 to 2,500 square feet property. That doesn't include replacement of the fire alarm systems, the electrical components and wiring or the gas service piping and fire sprinkler systems.
The cost is so enormous, it boggles the mind. What boggles the mind of this real estate broker is that the final word from the federal, state and local governments, all with limited or no resources due to profligate spending for the past 20 years and reduced property tax receipts for the past 3 years, is. . . . .
FIX IT YOURSELF ! !
"Dad, this is fun, but can't we go in now?"
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Courtesy, Lenn Harley, Broker, Homefinders.com, 800-711-7988.