Real Estate Resources
Asbestos
*BUILDING RENOVATION AND DEMOLITION
WHAT YOU NEED TO KNOW!
HOMEBUYER WARNING!. Before you buy a home make sure you know if the inspector includes ASBESTOS in his report along with MOLD, RADON, URANIUM MILL TAILINGS, especially in the Mesa County area.
Have the home/structure properly inspected prior to construction material removal! Make sure renovated structures have an asbestos inspection.
Are you Remodeling, Renovating or Demolishing?
You are subject to Colorado State and U.S. Federal Regulations requiring inspection for asbestos. Avoid fines and project delays: have your project inspected for asbestos by a Colorado-certified asbestos building inspector before commencing work. Asbestos can be found in these and other common building materials: Drywall compound and wallboard (sheetrock), ceiling and wall textures, vinyl floor coverings and mastic, boiler and pipe insulation, heating and cooling duct insulation, ceiling tile, roofing products, clapboard shingles, etcetera. These materials are regulated; a certified asbestos inspector can determine which materials contain asbestos and which are reg! ulated. Buildings of any age may contain asbestos; even those newly built may have asbestos-containing materials.
For ALL Renovation Projects:
Colorado LAW Prior to Renovation Work:
• Buildings of any age may contain asbestos; even those newly built may have asbestos containing materials.
• Inspection: the structures/components to be disturbed must be inspected for asbestos by a state-certified asbestos inspector.
• If the amount of asbestos-containing material to be disturbed exceeds the following trigger levels than an abatement contractor must remove the material.
o Trigger levels means amounts of material as follows:
�� With regard to single-family residential dwellings, the trigger levels are 50 linear feet on pipes, 32 square feet on other surfaces, or the volume equivalent of a 55-gallon drum.
�� With regard to all areas other than single-family residential dwellings (commercial), the trigger levels are 260 linear feet on pipes, 160 square feet on other surfaces, or the volume equivalent of a 55-gallon drum.
• A certified removal contractor (General Abatement Contractor) must remove asbestos-containing materials that are regulated or may become regulated before they are disturbed by renovation or demolition activities.
• Notification: A written notification to CDPHE, payment of a notification fee and ten (10) working day waiting period is required before the removal (abatement) of regulated asbestos containing materials.
Demolitions, Destructive Salvage, House Moving
If you demolish, perform destructive salvage, perform de-construction, burn, destroy, dismantle, dynamite, implode, knock down, level, pull down, pulverize, raze, tear down, wreck all of a structure or structural components or you move a house you are subject to State and Federal Regulations even when there is NO asbestos in the facility.
Colorado LAW Prior to Demolition:
• Inspection: the building must be inspected for asbestos by a state-certified asbestos inspector. Contact CDPHE or go to our web site for a current list of Asbestos Inspectors http://www.cdphe.state.co.us/ap/asbeshom.asp or Asbestos Building Inspector Consulting firms can be found in the yellow page section of most telephone books, under the heading “Asbestos Consulting and Testing”.
• Asbestos Removal (if necessary) must be performed by a Colorado-certified General Abatement Contractor. Any asbestos containing material that is friable or will be made friable during demolition activities must be removed prior to demolition. Removal, in accordance with Regulation No. 8, is required if the amount of asbestos-containing material that is friable or will become friable during demolition exceeds the trigger levels.
• Notification of Demolition Form must be submitted to the CDPHE, even if no asbestos was found during the inspection, payment of a notification fee and ten (10) working day waiting period is required before the demolition can proceed.
During Demolition:
• Recycling of materials, such as concrete or wood, that are bonded or contaminated with asbestos-containing material (ACM), such as floor tile or mastic, is NOT permitted.
• Demolition of a building that has non-friable asbestos containing VAT or tar-impregnated roofing materials remaining must be completed without causing the asbestos-containing materials to become friable. Concrete floors covered with floor tile shall be removed in as large sections as possible. Operations such as crushing, pneumatic jacking, etc. of materials containing asbestos are not permitted.
• When imploding or burning a structure, ALL asbestos-containing material, regardless of quantity, must be removed prior to demolition.
It is illegal to improperly disturb asbestos containing materials!
HAVE YOUR PROJECT INSPECTED BY A COLORADO-CERTIFIED ASBESTOS BUILDING INSPECTOR BEFORE YOU BEGIN WORK
Violation of asbestos regulations can result in monetary penalties and project delay as well as civil liability claims related to contamination or asbestos spills.
Real Estate Resources
First Time Home Buyers
Planning on buying or selling a home anytime soon? Make sure you’re at least equipped with some basic information before diving into anything. Being properly prepared in the real estate market is a priceless investment. Read the articles in this section and learn how to deal with real estate time constraints, how know when you’ve found the right home, and how to make smart down-size or up-size decisions.
Lately, housing market is calling for a new set of real estate instructions for home buyers. No longer do you bid over the asking price just to have a house. The days of overlooking severe defects just so you can get your offer accepted are gone. To be successful in today's market, home buyers need to be prepared, plan carefully, embrace negotiation and exercise patience.
In most buyers' minds is a desire to pay a fair price and not a penny more. This is a legitimate concern and makes it essential that you do your homework before you buy. To keep from overpaying, you need to research the local market carefully.
Find out how quickly listings are selling in the perticular area you are looking to buy. Are they selling at the asking price, or are prices being discounted? Ask your realtor for the days on market for that property.
Ask your agent to prepare a market analysis on a property you're interested in buying before you decide what to offer. Concentrate on the most recent sales, which will most closely reflect current market value.
In order to avoid overpaying, you also need to stay within your financial comfort zone. What I believe is one of the most important questions you should ask yourself is...How much is the upper limit that I can afford to pay each month. Remember to add the taxes, Mortgage insurance ( if you're not putting 20% down) and also there is hazardous Insurance and Homeowners Insurance.
Getting pre-approved with a mortgage broker or lender to find out how much you can afford is an obvious first move. Be sure to ask for a total monthly obligation.
It's a wise decision to carefully analyze your financial situation now, and your reasonable expectations for the future before you commit to a specific type of mortgage. Interest rates might not come down again any time soon, so make sure that you're comfortable with the size and kind of mortgage you use to make the purchase.
The rapid pace of home-price appreciation is taking a pause. This means that you can't overpay and hope that a couple of month's worth of appreciation will make up the difference. You also can't count on appreciation to generate the cash to pay for repairs and deferred maintenance.
That's the reason why it is important that you do not waive inspections. More times than not, buyers often make offers without an inspection contingency in order to gain favor with the seller in a multiple-offer competition. Many of those buyers now have a sorry tale to tell. It's not worth taking the risk. Make sure that your contract includes an inspection contingency, even if you find yourself in competition.
Don't let the threat of multiple offers scare you off. Unlike like last year, today's multiple offers don't always send the price higher. If you like a house enough, give it a shot. Just stick to your price limit, and if it doesn't work, move on.
If you're the only buyer making an offer, don't be surprised if the seller doesn't accept your offer. This is where patience comes in. Keep in tune with your notes about what you need to do to the property when you become the owner. Base your offer according to the CMA your realtor has done for you. This way you have a good idea as to the value of this property in comparison to others that you have seen.
Standing firm on your price can be a pretty good negotiating strategy. Don't walk away from a negotiation just because the seller gives you a counteroffer for a higher price. If you're serious about the house, counter back--even if it's at the same price you initially offered. If this is your best and final price, let the seller know.
In some cases, it may convince the seller that this may be the best offer he is going to get, especially if there isn't any other offers coming in. Another contributing factor may be, how many days this home has been on the market. Motivation is alway the key factor, and time may work in your favor.
Real Estate Resources
Mold
Warnings About Mold
Buyers beware and Read this carefully
Molds are fungi. Molds grow outdoors and indoors and are found everywhere in almost all environments. Tiny particles of mold are present in indoor and outdoor air. In nature, molds help break down dead materials and can be found growing on soil, foods, plant matter, and other items. Molds produce microscopic cells called "spores" which are very tiny and spread easily through the air. Live spores act like seeds, forming new mold growths (colonies) when they find the right conditions. All molds are allergens however there are some species of molds that can be toxins. In door mold problems are usually the result of water intrusion. Remember, mold is already in almost every indoor environment on the planet. Mold growth requires a viable mold spore, a food source, water and proper temperature. Every structure already has all necessary requirements for mold growth except a water source. When water is introduced
Mold and Mildew
Toxic Molds in Homes, Stachybotrys chartarum
Mildew stains and odors scare buyers, especially now that toxic black mold is such a hot topic, and chances are you won't even get an acceptable offer if mold and mildew are present. Even if the mold in your house is the normal variety kill it and fix the source of the problem.
What is Mold?
Molds are fungi that reproduce by releasing tiny spores into the air.
Molds in Your Home Can Cause Health Problems and Structural Damage
The home buying and selling community is surrounded with talk about insurance and liability issues involving stachybotrys chartarum, also known as black mold or toxic mold.
Some homeowners have even burned down their homes, and everything in them, because they felt it was the only way to eradicate toxic mold from their surroundings.
Juries have awarded huge sums of money to homeowners who initiated lawsuits against their insurance companies, with most awards given to people whose insurer did not payfor moisture-related repairs in time to prevent severe mold problems. Awards have also gone against home builders when juries felt that shoddy worksmanship contributed to the mold.
Most homeowner policies now include a clause that excludes or limits payments for mold-related issues.
While mold is a problem, in most instances its growth can be prevented or stopped before it causes excessive damage.
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Spores that land on moist objects may begin to grow. There are thousands of different types of mold and we encounter many of them every day, in our homes and outdoors.
What is Toxic Mold?
Toxic mold is a type of mold that produces hazardous byproducts, called mycotoxins. While individuals with asthma and other respiratory problems may have reactions to many types of mold, it's thought
that mycotoxins are more likely to trigger health problems in even healthy individuals. These toxins are believed to be linked to memory loss and to severe lung problems in infants and the elderly.
Floating particles of mold are invisible to the naked eye, so it's impossible to see where they might have landed until they begin to grow. Loose mold particles that accumulate on items
within a house are easily inhaled and can be a constant irritation to the people and pets who live there.
The toxic mold we hear most about is Stachybotrys chartarum, a slimy, greenish-black mold that grows on moisture-laden materials that contain cellulose, such as wood, paper, drywall, and other similar products. It does not grow on tile or cement.
Even if the mold in your home is not toxic mold, it can still be a problem, because any mold growing on organic materials will in time destroy them--and too much mold of any type smells bad and degrades air quality.
Mold thrives in damp, humid conditions:
Bathrooms with poor ventilation. Install an exhaust fan if possible.
Leaky water pipes. Repair them immediately.
Roof leaks. Repair them right away.
Flood aftermath. Repair as soon as possible. See: EPA's Flood Info
Clothes dryers and exhaust fans that vent under the house or back into the room. Vent them to the outside.
Flood Damage
Houses that have been flooded are at serious risk for molds, especially in areas when are high humidity and temperatures provide the mold with the perfect place to reproduce before cleanup begins.
The houses flooded by the aftermath of Hurricane Katrina--some still sitting in water--is the perfect example of homes that will likely suffer extreme damage from mold.
Help Discourage Mold Growth:
Install a dehumidifier in chronically moist rooms.
Don't carpet rooms that stay damp.
Insulate pipes and other cold surfaces to discourage condensation.
Install storm windows to eliminate condensation on glass.
Cover crawlspace dirt with plastic and ensure that the area is well ventilated.
Cleaning Mold
Make sure the room is well ventilated before you begin. If the mold covers a small surface area it isn't too hard to clean it with detergent and water. Allow the space to dry, then apply a solution of 1/2 cup bleach per gallon of water to help kill the remaining spores. Never combine bleach and ammonia because the mixture produces a toxic gas. There are products available that are designed specifically for mold. The Centers for Disease Control offers many tips for mold cleanup. Remember that the mold will very likely return unless you elminate the
underlying problems that caused it.
Before You Buy a Home
In the past, air quality testing was ordered primarily to detect radon gas, but mold spore tests are becoming more common. Your home inspector might not perform mold tests, but can probably help you find someone who does.
In my area mold testing costs between $300-$500 dollars. If your mold problem is severe, you will likely need the help of a mold remediation company, someone who specializes in mold removal.
If mold is in the air, find out where it's coming from. Mold should be removed and repairs should be made to ensure it won't come back. Talk to your real estate agent or to an attorney to determine if a special contingency should be inserted in the contract that will allow you to back out of the deal if toxic mold or other molds are detected and
cannot be thoroughly eliminated. Many standard forms used by real estate agents include the option of a mold contingency.
FACT:
The following health problems have all been associated with toxic mold allergies.....
arthritic-like aches, asthma, bloody noses, chronic headaches, coughing, "crawly" feeling skin, depression, dizziness or stuffiness
epileptic-like seizures, equilibrium or balance loss, fatigue, flu-like symptomsm, irritation of the eyes, nose or throat
loss of memory, loss of hearing, loss of eyesight, nausea, restlessness, runny nose, sinus congestionm skin rashes
sneezing, trouble breathing, unexplained irritability, upper respiratory distress
People at Greatest Risk from Mold
People with asthma, allergies, or other breathing conditions may be more sensitive to mold. People with immune suppression (such as people with HIV infection, cancer patients taking chemotherapy, and people who have received an organ transplant) are more susceptible to mold infections.
Possible Health Effects of Mold Exposure
People who are sensitive to mold may experience stuffy nose, irritated eyes, wheezing, or skin irritation. People allergic to mold may have difficulty in breathing and shortness of breath. People with weakened immune systems and with chronic lung diseases, such as obstructive lung disease, may develop mold infections in their lungs. If you or your family members have health problems after exposure to mold, contact your doctor or other health care provider.
Recognizing Mold
You may recognize mold by:
Sight (Are the walls and ceiling discolored, or do they show signs of mold growth or water damage?)
Smell (Do you smell a bad odor, such as a musty, earthy smell or a foul stench?)
Safely Preventing Mold Growth
Clean up and dry out the building quickly (within 24 to 48 hours). Open doors and windows. Use fans to dry out the building.
When in doubt, take it out! Remove all porous items that have been wet for more than 48 hours and that cannot be thoroughly cleaned and dried. These items can remain a source of mold growth and should be removed from the home. Porous, noncleanable items include carpeting and carpet padding, upholstery, wallpaper, drywall, floor and ceiling tiles, insulation material, some clothing, leather, paper, wood, and food. Removal and cleaning are important because even dead mold may cause allergic reactions in some people.
To prevent mold growth, clean wet items and surfaces with detergent, bleach and water.
If there is mold growth in your home, you should clean up the mold and fix any water problem, such as leaks in roofs, walls, or plumbing. Controlling moisture in your home is the most critical factor for preventing mold growth.
To remove mold growth from hard surfaces use commercial products, soap and water, or a bleach solution of no more than 1 cup of bleach in 1 gallon of water. Use a stiff brush on rough surface materials such as concrete.
If you choose to disinfect, use bleach to remove mold:
Never mix bleach with ammonia or other household cleaners. Mixing bleach with ammonia or other cleaning products will produce dangerous, toxic fumes
Open windows and doors to provide fresh air.
Wear non-porous gloves and protective eye wear.
If the area to be cleaned is more than 10 square feet, consult the U.S. Environmental Protection Agency (EPA) guide titled Mold Remediation in Schools and Commercial Buildings . Although focused on schools and commercial buildings, this document also applies to other building types. You can get it free by calling the EPA Indoor Air Quality Information Clearinghouse at (800) 438-4318, or by going to the EPA web site at http://www.epa.gov/mold/mold_remediation.html .
Always follow the manufacturer's instructions when using bleach or any other cleaning product.
More information on personal safety while cleaning up after a natural disaster is available at www.bt.cdc.gov/disasters/workers.asp.
If you plan to be inside the building for a while or you plan to clean up mold, you should buy an N95 mask at your local home supply store and wear it while in the building. Make certain that you follow instructions on the package for fitting the mask tightly to your face. If you go back into the building for a short time and are not cleaning up mold, you do not need to wear
12 tips for a mold-free home
Follow these suggestions to keep mold from growing in your home:
1. Check the exterior of your home regularly for accumulation of ground water. 2. If you ever see bubbling or dampness in a wall, get the wall opened to see what's causing it.
3. If your house sits above a foundation and there's a heavy rain, put electric fans under the house to dry the ground.
4. Fix leaky faucets, pipes and other leaks as soon as you find them.
5. Have your heating and air conditioning system serviced each year.
6. Clean and dry out wet or damp areas within 48 hours.
7. Keep indoor humidity below 60 percent by venting bathrooms and dryers to the outside, using air conditioners and dehumidifiers,
using exhaust fans or opening windows when cooking, washing dishes or cleaning, and increasing ventilation.
8. If you have a leak that saturates carpet, ceiling tiles or upholstery, remove them.
9. Use paint that has an EPA-approved mold inhibitor.
10. Clean kitchens and bathrooms with mold-killing cleaners.
11. Don't carpet bathrooms.
12. Don't put vinyl wallpaper on walls that are at risk of sustaining water damage.
Real Estate Resources
Sellers: How to get your price
10 Possible options to Entice the Buyer
(10 Ways To Get Your Price)
When buyers gain more leverage in a housing market, sellers must think out of the box to entice buyers to their homes, then to lock in their asking price. These are 10 ways to get your home sold, if not at your price, at least a little closer than what you might have gotten otherwise.
1. If your home has been on the market for longer than expected, the most logical action would be to lower the price, correct? Well instead, consider giving the buyer some closing costs, or possibly offer a home warranty, or offer to pay for a home inspection. All these would be far less than lowering your price several thousand $$$$$
2. Decorating allowance. Is your décor tired looking and left over from the 80's or 90's? Then offer cash for upgrades, new carpet and a paint job. With good bidding on the job, you may be able to keep your price, give the buyer what s/he wants and make some money on the backside as well by not dropping your price. Many buyers would love $2,000 or more, to spend the way they want on decorating.
3. Mortgage payments for 3 to 6 months. How would you like to move into a house and make no payments for 3 to 6 months? On a $300,000 mortgage at 6 percent interest, the principal and interest payment is $1,798.65 per month -- over three months, the buyer would save $5,395.95; 6 months, more than $10,791.90.
4. Buy-down points to lower the interest rate. For some buyers, it's all about the monthly payment. Try coaxing them into your price with an offer to buy-down their interest rates with points paid by the seller. If they can get the interest rate low enough, they will be able to carry a higher mortgage for a lower monthly payment because of your point money left at the table. This is a technique of "selling the deal" more than selling the house.
5. Vacations. Buy a house, get a Caribbean Cruise. Take some tips from new home builders -- they're professionals at this incentive thing. Sometimes, a buyer might get cash back at the settlement table, but wouldn't dare spend it in a luxurious way. Offer a cruise, an expensive spa weekend, airline tickets to Asia -- or some other out of the ordinary travel package to entice them. When you consider the inventory has more than doubled in some markets, the only thing different from one house to another may be the cruise line.
6. Free Media room. Did you know that movie ticket sales are down for the third year in a row? One of the reasons is the advent of the at-home, non-sticky, low-ticket price media room. During the recent Christmas holidays, some media room packages, complete with big screen monitor and surround systems were selling for under $5,000. This one investment alone could be the sweetener your buyer needs to sign the bottom line.
7. Year-long HOA Fees. Looking for a more practical buyer benefit? How about relieving them of those expensive home owner association dues. Depending on the community, these fees could top out to more than $500 per month -- that's $6,000 for the first year. Offering this bennie could definitely help the cash-poor buyer get into his first condo.
8. Offer seller financing. This option is overlooked by a lot of sellers because they or their Realtor just don't think about it. Seller financing can be in several forms -- as a first trust, second trust or even 100 percent financing for the whole house. For the seller who can swing a 1st trust mortgage, this can actually become quite the cash cow. For instance, a $100,000 mortgage offered at 7 percent over 5 years with interest-only payments followed by a balloon payment of $100,000 -- would actually result in the seller netting $135,000 over the life of the loan -- not a bad return..
9. Pay off bills. Some loan programs will allow sellers to pay off credit cards, auto loans, for the buyer. It could make the difference in qualifying for the mortgage and having to buy a smaller, less expensive house. Again, maintain your asking price and offer to pay off debt for the buyer.
10. Pay closing costs (up to mortgage program limit). Here's the old standby. It's not as fancy as those above -- but it's very reliable and works very well. Closing costs usually are 3 % of the loan. You can offer any amount, it’s up to you. When you choose to lower your asking price of $5,000 or more, keep in mind that it doesn’t change the buyers position. You want to help them to qualify for your home.
Real Estate Resources
Why Are Inspections Important
WHY YOU INSPECT BEFORE YOU BUY
Sometimes you need more than a handshake
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Dont Be Fooled |
Many Common Householed Problems Go Unnoticed Without
A Thorough Inspection.
Always Inspect Your House BEFORE You Make a Purchase! |
Why should you inspect your future property before choosing to buy?
This is the #1 question that most prospective Real Estate Buyers ask.
The answer: It is the most crucial aspect in regards to your purchase! In most cases, a buyer, when shopping for a new home, will only have one or possibly two opportunities to “look around" the property before the decision to move forth with the offer is firm. The decision to purchase is undoubtly based on personal preference, appearance, location and budget. By only looking around the property, the buyer does not see the entire scope of the property and all of the intricacies within that property. The opportunity for an inspection does just that!
For a qualified inspector this process usually takes between 2-3 hours of property examination. More often than not, when I inspect a property, I will find an issue that you would never have seen by walking through with a realtor. I will turn on and run all operating systems, inspect crawl spaces, attics, electrical systems and much, much more. Sometimes, the inspection will only reveal common issues that do not necessarily require immediate attention. In other cases the inspection will disclose major concerns that demand immediate consideration or may require repair or replacement of major household components.
Inspections give you, the buyer, a more intricate view of your properties condition. This will provide you with the peace of mind necessary to either move forth with the contract or choose not too.
A potential buyer should always go with an inspection! Not only will you gain peace of mind on your future properties condition but you will definitely learn a few things in regards to your property. Just a word of advise,- Try to meet the inspector at the house at the appointment time and let him do his thing. In other words do not follow him around like a puppy. If the inspector can go at his pace and finish then I'm sure at the end he will be more than happy to point out any flaws that he has found. Usually they cannot advise you what to do, his job is just to show you the results.
It is important to ask the inspector just what is covered under his inspection. Most will charge an extra fee for ---TERMITES, RADON, MOLD, MILL TAILINGS, and ASBESTOS, so ask when shopping around for an inspector.
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