Chinese Drywall Impact on Property Values
January 11th, 2010
As discussed in the article listed below from Central Florida News 13, the damages caused by Chinese Drywall are contributing to an adverse affect on property values.
ZEPHYRHILLS -- Issues with Chinese drywall have been plaguing homeowners around Florida, but they aren’t the only ones who could face problems from the building materials.
Homeowners without tainted drywall said they are worried about the impact in their property values, even if only a few cases have been reported in their communities.
Daniel Portalatin, president of the homeowners association in Sedgwick, a Meadowpoint community in Pasco County, said even though there have been complaints from homeowners who said they have the toxic drywall, it doesn’t necessary mean that other residents should worry about their property values.
“It concerns me, but at the same time, prior to a home being bought or rented out, they usually contact the homeowners association so we can let them know what’s going on,” Portalatin said.
Realtor Greg Armstrong said Chinese drywall is something he discusses with potential buyers every day.
“We are basically looking for ’05 to ’07,” he said. “If we see something in late ’04, we might look at that as well, and then we look for the size of discoloration along the baseboards and things like that.”
Armstrong said only a few cases have been reported in Sedgwick, and people should bring in licensed inspectors to check out the drywall.
“We hear cases, and people think, ‘I might have it,’ then they get tested and they find out they don’t have it,” he said. “We don’t run into as many cases of people that have it as those who fear they might.”
The toxic drywall can damage appliances, air conditioning coils and even electrical wiring, but not everyone has it, and an inspection is the only way to know for sure.
Portalatin said he plans to hold more meetings in the community in an attempt to make sure residents get the information needed to find inspectors. He suggested that all homeowners associations make it a priority.
To view the online article, please click here.
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