April 5, 2008
Lynnsy Logue The Real Estate Lady and Condo CanDo Charlotte NC
"Charlotte didn't play speculation game like the rest of the nation did
New statistics reveal the big difference"
ALLEN NORWOOD Charlotte Observer
You've read that speculators didn't drive up home prices in Charlotte as they did in many of the former hot markets now struggling.
Here are recent numbers that provide specifics:
Charlotte consultant Chuck Graham, on the Web site introduced by the city's builders, says investors bought 14 percent of homes sold here in 2006.
The National Association of Realtors says investors bought 22 percent of homes sold across the country in 2006.
Doesn't seem like a huge difference -- until you consider that's half again as much buying and flipping of houses.
The Realtors last week released their annual survey of vacation and investment home buying. Because it's a survey, not a study of buying data, information for specific markets like Charlotte is skimpy.
"Second home owners are not very good at responding to surveys," said Realtors spokesman Walter Malony. "We have to do a lot to get usable samples."
But here are interesting tidbits:
• Nationally, investors bought 21 percent of homes last year. That doesn't seem like a big drop either -- until you realize that's a share of a down market. Total sales of investment homes fell 18 percent from 2006 to 2007.
• The typical investment home cost $150,000 last year.
• Most investment homes -- 61 percent -- were single family; 20 percent were condos and 11 percent were townhouses.
• Seventy-one percent were existing homes.
• Thirty-nine percent were in the suburbs, and 20 percent were in urban areas. The rest were in small towns or rural or resort areas.
• The median income of investment home buyers last year was $92,900.
Saturday, April 5, 2008
Friday, April 4, 2008
Condos: Question and Answer via Condo CanDo
April 4, 2008
Lynnsy Logue The Real Estate Lady and Condo CanDo in Charlotte, NC
On Fridays, Condo CanDo Answers Questions on Condos...
Condominium:Architecture or legal description?
Condominium" is a legal form of ownership. Many styles of residences (or even business properties) can be condominiums.
Condominiums and Co-operatives? Are they alike or different?
Condos and Co-ops?Condos and co-ops are different forms of ownership. Condo units are owned individually. Co-ops are owned collectively.
Can a Flat be a garden?A garden unit can sometimes be a flat, on one floor, but it always has no one above or below, and is like a little attached house.
What's a villa? Another name for condo. Generally speaking.
What does U/F mean?
"U/F" in the legal description means Unit File.
A definite town home clue is: two stories or a survey?
Condos can be two or three stories, a house, a garden, an office...a townhome requires a survey.
There are many nuances in attached housing including that name "Attached Housing".
Condos do not necessarily have to be attached. Townhomes do not necessarily have to be attached. Does it makes a difference? Yes. Perhaps in financing, definitely in insurance, perhaps in maintenance, for sure in maintenance and most assuredly in Home Owner's Dues.
If you have a question or a condo subject you would like to know more about, please check-in at CondoCanDo.com...I am listening.
Lynnsy Logue The Real Estate Lady and Condo CanDo Charlotte, NC
Lynnsy Logue The Real Estate Lady and Condo CanDo in Charlotte, NC
On Fridays, Condo CanDo Answers Questions on Condos...
Condominium:Architecture or legal description?
Condominium" is a legal form of ownership. Many styles of residences (or even business properties) can be condominiums.
Condominiums and Co-operatives? Are they alike or different?
Condos and Co-ops?Condos and co-ops are different forms of ownership. Condo units are owned individually. Co-ops are owned collectively.
Can a Flat be a garden?A garden unit can sometimes be a flat, on one floor, but it always has no one above or below, and is like a little attached house.
What's a villa? Another name for condo. Generally speaking.
What does U/F mean?
"U/F" in the legal description means Unit File.
A definite town home clue is: two stories or a survey?
Condos can be two or three stories, a house, a garden, an office...a townhome requires a survey.
There are many nuances in attached housing including that name "Attached Housing".
Condos do not necessarily have to be attached. Townhomes do not necessarily have to be attached. Does it makes a difference? Yes. Perhaps in financing, definitely in insurance, perhaps in maintenance, for sure in maintenance and most assuredly in Home Owner's Dues.
If you have a question or a condo subject you would like to know more about, please check-in at CondoCanDo.com...I am listening.
Lynnsy Logue The Real Estate Lady and Condo CanDo Charlotte, NC
Thursday, April 3, 2008
Condo CanDo Talks Condo-ese and What makes Some Special
April 3, 2008
Lynnsy Logue The Real Estate Lady® and Condo CanDo® in Charlotte ,NC
After twenty years as a real estate broker and specializing in condominiums, you know I have favorites. Many I have walked through wearing a hard hat during construction, many I have watched through conversion, many I have seen go through transformation from ragged, rental property to shining examples of what home owners can do if they pull together. And when I met Condo CanDo® many of the streets where condo communities were built were not on the maps.
It was before the Internet, of course, before we were as interconnected as we are now with all of our search tools. I bought a whole set of the large, cumbersome, bound tax map books. There were three or four of the big books. I went through every single page looking for the clusters of buidings, the townhouses, the duplexes and the areas where I thought there were fourplexes. And then I took a trip down to The Register of Deeds and looked up every one on the microfish file. And I read about the details of every one on a bigger viewer. The files were like negatives and the print was small and really hard to read. I loved every minute of the search.
And once I wrote down the addresses and the details of each complex, I set about to visit every single one. It was the only way you could tell about such things as heating source, conversions, structure, amenities and such.
Over the years I hve photographed almost all of them on more than one occasion. When I first started working with the web, I spent days and days taking all the condo pictures. It was a little more labor intensive. There were not digital cameras that I could afford. I shot thousands of pictures, kept Wolf Camera's photo lab busy and scanned them all in to my database. Even all the ones at Lake Norman and Lake Wylie.
Charlotte has changed a lot. Condos seem to be more acceptable. There sure are many new ones, fancy ones, lofts and warehouses, towers and more towers. And the business of condominiums has gotten more energetic. So I keep reading about every aspect particularly the pitfalls, especially the surprises. And I am cautious these days about what I see and what I hear.
I know the history of Condominiums in Charlotte. The future of this home-choice is in the hands of the buyers, the owner occupants more than the investors. So much of what I write about is for you. The folks who want to live in a condo for reasons that are as individual as they are themselves. You drive the market. You make the market.
So I will write about my favorites and why they are my favorites. I will write about unique buildings and plain complexes and problems and pitfalls...and yes, even the good stuff.
And this will be a weekly feature on our blog as well as on our podcast. We hope you'll join us. Condo CanDo® and I have our digital camera and camcorder and we are off to have some fun.
Lynnsy Logue The Real Estate Lady® and Condo CanDo® in Charlotte ,NC
After twenty years as a real estate broker and specializing in condominiums, you know I have favorites. Many I have walked through wearing a hard hat during construction, many I have watched through conversion, many I have seen go through transformation from ragged, rental property to shining examples of what home owners can do if they pull together. And when I met Condo CanDo® many of the streets where condo communities were built were not on the maps.
It was before the Internet, of course, before we were as interconnected as we are now with all of our search tools. I bought a whole set of the large, cumbersome, bound tax map books. There were three or four of the big books. I went through every single page looking for the clusters of buidings, the townhouses, the duplexes and the areas where I thought there were fourplexes. And then I took a trip down to The Register of Deeds and looked up every one on the microfish file. And I read about the details of every one on a bigger viewer. The files were like negatives and the print was small and really hard to read. I loved every minute of the search.
And once I wrote down the addresses and the details of each complex, I set about to visit every single one. It was the only way you could tell about such things as heating source, conversions, structure, amenities and such.
Over the years I hve photographed almost all of them on more than one occasion. When I first started working with the web, I spent days and days taking all the condo pictures. It was a little more labor intensive. There were not digital cameras that I could afford. I shot thousands of pictures, kept Wolf Camera's photo lab busy and scanned them all in to my database. Even all the ones at Lake Norman and Lake Wylie.
Charlotte has changed a lot. Condos seem to be more acceptable. There sure are many new ones, fancy ones, lofts and warehouses, towers and more towers. And the business of condominiums has gotten more energetic. So I keep reading about every aspect particularly the pitfalls, especially the surprises. And I am cautious these days about what I see and what I hear.
I know the history of Condominiums in Charlotte. The future of this home-choice is in the hands of the buyers, the owner occupants more than the investors. So much of what I write about is for you. The folks who want to live in a condo for reasons that are as individual as they are themselves. You drive the market. You make the market.
So I will write about my favorites and why they are my favorites. I will write about unique buildings and plain complexes and problems and pitfalls...and yes, even the good stuff.
And this will be a weekly feature on our blog as well as on our podcast. We hope you'll join us. Condo CanDo® and I have our digital camera and camcorder and we are off to have some fun.
Lynnsy Logue, The Real Estate Lady® and Condo CanDo® Charlotte NC
Wednesday, April 2, 2008
Charlotte Condos Featuring SouthEnd Creativity
April 2, 2008
Lynnsy Logue, The Real Estate Lady® and Condo CanDo® Charlotte NC
Uptown Charlotte, Center City, Lofts and Condos and Creativity…
Our market is pretty energetic. There’s definitely buying and selling going on in our fair city…and where there is more inventory than the builders and developers would like, there are incentives. I like it when someone colors outside the lines and this idea seems unique and forward moving.As reported by Doug Smith of The Charlotte Observer:
A South End developer has devised an unusual way to lure buyers to his live-work condos: invest money in their businesses.
"People are capital starved. Money is as tight as it has ever been," said MECA Properties President Tony Pressley. "What better way to help?"
The incentive is being offered at The Abbott Condominiums, whose 16 units are devoted to entrepreneurs seeking to live and work in the same building.
Qualified condo buyers will be eligible for a one-time investment of up to $25,000 in their business ventures.
There're strings, right?
Every potential buyer must submit a complete business plan and professional credentials and be financially qualified to purchase, Pressley said.
After that?
"I base my decisions more on gut, commitment and track record than credit and collateral," he said. "I'm a 28-year veteran of running my own business."
The exact form of the investment, depending on the needs of the buyer, could vary from repayable debt to an ownership stake in the business, he said.
Commercial and residential developers typically offer incentives such as interior upgrades, flat-screen TVs or rent concessions to fill their buildings.
Pressley, who helped pioneer revitalization in South End, said he came up with this unusual idea himself as a way of "keeping the entrepreneurial spirit alive" and paying forward his success.
But he concedes the offer is more than an act of kindness. "I have product. I want to move it sooner rather than later," he said. "I'll do whatever I need to do to generate interest."
Tomorrow, we start our Spotlight Feature…catch Condo CanDo and one of her favorites.
Lynnsy Logue, The Real Estate Lady® and Condo CanDo® Charlotte NC
Uptown Charlotte, Center City, Lofts and Condos and Creativity…
Our market is pretty energetic. There’s definitely buying and selling going on in our fair city…and where there is more inventory than the builders and developers would like, there are incentives. I like it when someone colors outside the lines and this idea seems unique and forward moving.As reported by Doug Smith of The Charlotte Observer:
A South End developer has devised an unusual way to lure buyers to his live-work condos: invest money in their businesses.
"People are capital starved. Money is as tight as it has ever been," said MECA Properties President Tony Pressley. "What better way to help?"
The incentive is being offered at The Abbott Condominiums, whose 16 units are devoted to entrepreneurs seeking to live and work in the same building.
Qualified condo buyers will be eligible for a one-time investment of up to $25,000 in their business ventures.
There're strings, right?
Every potential buyer must submit a complete business plan and professional credentials and be financially qualified to purchase, Pressley said.
After that?
"I base my decisions more on gut, commitment and track record than credit and collateral," he said. "I'm a 28-year veteran of running my own business."
The exact form of the investment, depending on the needs of the buyer, could vary from repayable debt to an ownership stake in the business, he said.
Commercial and residential developers typically offer incentives such as interior upgrades, flat-screen TVs or rent concessions to fill their buildings.
Pressley, who helped pioneer revitalization in South End, said he came up with this unusual idea himself as a way of "keeping the entrepreneurial spirit alive" and paying forward his success.
But he concedes the offer is more than an act of kindness. "I have product. I want to move it sooner rather than later," he said. "I'll do whatever I need to do to generate interest."
Tomorrow, we start our Spotlight Feature…catch Condo CanDo and one of her favorites.
Tuesday, April 1, 2008
April 1 2008 Condominium Docs, One of Many
April 1, 2008
Lynnsy Logue The Real Estate Lady and Condo CanDo in Charlotte, NC
Condominium Documents…Important.Important. Important.
These are the documents you read and know well. Not the documents you read some night when you can’t go to sleep. How important are they? Here’s the quiz:
Can you park your boat and trailer overnight?
Does the association draw interest on its reserve account?What are the restrictions on children?Are pets allowed? How many and is there a weight limit?May I replace my pet if he/she dies?Or these scenarios:
The Greens are avid gardeners. They find a lovely condo with an enclosed patio perfect for a small garden. After moving in they discover the by-laws strictly limit the type of plants that can be grown because of allergy problems of many of their neighbors. Or
The Smiths buy into a co-op building and they plan to spend the summer with their grandchildren in Florida and sublet their unit while they are gone. The by-laws do not permit this arrangement.In addition to these restrictions, the by-laws may prevent owners from making unauthorized alterations, and from using units for business purposes.
Every Tuesday, our podcast and blog will talk about some of the fine points. On our website www.CondoCanDo we will be publishing Typical Condo docs for your amusement, amazement and need to read lists.
Check in to the website. We have a monthly calendar noting daily subjects and features. Our effort to have a more cohesive schedule. If you have suggestions, questions, please let us hear from you.
Lynnsy Logue The Real Estate Lady and Condo CanDo in Charlotte, NC
Lynnsy Logue The Real Estate Lady and Condo CanDo in Charlotte, NC
Condominium Documents…Important.Important. Important.
These are the documents you read and know well. Not the documents you read some night when you can’t go to sleep. How important are they? Here’s the quiz:
Can you park your boat and trailer overnight?
Does the association draw interest on its reserve account?What are the restrictions on children?Are pets allowed? How many and is there a weight limit?May I replace my pet if he/she dies?Or these scenarios:
The Greens are avid gardeners. They find a lovely condo with an enclosed patio perfect for a small garden. After moving in they discover the by-laws strictly limit the type of plants that can be grown because of allergy problems of many of their neighbors. Or
The Smiths buy into a co-op building and they plan to spend the summer with their grandchildren in Florida and sublet their unit while they are gone. The by-laws do not permit this arrangement.In addition to these restrictions, the by-laws may prevent owners from making unauthorized alterations, and from using units for business purposes.
Every Tuesday, our podcast and blog will talk about some of the fine points. On our website www.CondoCanDo we will be publishing Typical Condo docs for your amusement, amazement and need to read lists.
Check in to the website. We have a monthly calendar noting daily subjects and features. Our effort to have a more cohesive schedule. If you have suggestions, questions, please let us hear from you.
Lynnsy Logue The Real Estate Lady and Condo CanDo in Charlotte, NC
Sunday, March 30, 2008
Home Owners Questionnaire...March 31, 2008 Revised
Monday March 31, 2008
Lynnsy Logue The Real Estate Lady and CondoCanDo Charlotte NC
Information YOU Need to Know as Well as Your Lender:
HOMEOWNERS’ ASSOCIATION QUESTIONNAIRE
PROJECT NAME:_______________________________________________________________________
ADDRESS:_____________________________________________________________________________
BORROWER:_______________________________________________________LOAN NUMBER:_______________
This company is processing a mortgage loan, which is located in the subject homeowners’ association/project. Your assistance is required in answering the questions on this form. Your immediate response is requested as the subject loan funding is pending.
1. Legal name of project/homeowners’ association is:__________________________________________________________________
2. The project is a o Condominium o PUD
3. Was the project created by the conversion of an existing building? If yes, please provide the following information:
Age of subject:____________ Year converted______________ Original use_______________________
4. Voting control of the Board of Directors has been turned over from builder/developer since:______/_______ (month/year).
If not turned over yet, please provide anticipated date of transfer: ________/_________ (month/year).
5. The project is o is not o a legal phased project. The project consists of _____total units in _____ legal phases.
6. Are all units and common areas/facilities complete? o Yes o No
7. Can the project be expanded beyond its current size? o Yes o No If yes, number of add’l units to be built_______.
8. Please indicate the common amenities (other than those in a Master Association):
o Pool, # of ______ o Clubhouse, # of _______ o Tennis Court, # of ______ o Playground, # of _______
o Other _______________________________________________________________________________________
9. Is there any commercial space designated in the project? o Yes o No Describe_______________________________________.
If yes, is the designated space more than 20% of the total square footage of the entire project? o Yes o No
10. Is there more than one association for the project, such as a “Master” or “Umbrella” Association? o Yes o No If yes:
Name of Master Assoc.:_________________________ Recreational Amenities:__________________________________________
Are the amenities complete? o Yes o No Date control of MHOA turned over to unit owners:_____________
11. Is the subject association involved in any litigation? o Yes o No If yes, please provide copies of all litigation information available.
12. How is title held to units? o Fee Simple o Leasehold If leasehold, provide copy of lease(s).
13. Are there any leased common areas/facilities? o Yes o No If leasehold, provide copy of lease(s).
14. Do the unit owners have sole ownership in and the right to the use of the project facilities? o Yes o No
15. Does the project contain any leased or rented units? o Yes o No If yes, how many? ___________
16. Is there a rental service for leasing/renting units? o Yes o No
17. Does the homeowners' association provide a cleaning service for the leased/rented units? o Yes o No
18. Does the project have a front check-in desk for the leased/rented units? o Yes o No
19. Does any single investor or entity own more than 10% of the total units in the project? o Yes o No
If yes, please identify the investor/entity and indicate the total number of units owned by each separate investor:
_______________________________________________________________________________
20. Does an outside, professional management firm manage the project? o Yes o No If yes, please provide contact information:
Name of Company:__________________________________ Contact:__________________________________ Address:___________________________________________Phone:______________
21. The unit assessment charges/fees for all units are:
o Uniform charges of $____________per month o Varying charges of $__________ to $___________ per month
22. How many unit owners are delinquent more than 30 days in their payment?_______; The total amount is $____________
23. The amount currently held in a segregated reserve account for future repair/replacement of the project is $_____________
This amount is adequate for replacement of major components o Yes o No
24. Are there any special assessments now approved, or have there been any in the past year? o Yes o No If yes, please describe nature of assessment, amount and per unit charge:__________________________________________________________________
25. Are there any mortgages or other long-term debts currently outstanding for the association? o Yes o No If yes, please describe and state the terms of the loan:_________________________________________________________________________________
26. Does the Declaration or any other constituent documents governing the project contain a right of refusal (or to provide a substitute
buyer) in favor of the association or developer to purchase any unit in the project offered for sale, lease or transfer? o Yes o No
27. If a unit is taken over in foreclosure or deed-in-lieu, is the mortgagee responsible for delinquent HOA dues? o Yes o No
If yes, are they responsible for o 0-6 months or o 7+ months?
28. Please provide the following insurance information for the project:
Insurance Company:____________________________Agent’s Name:_____________________________Phone:_______________
29. Please provide the following sales information:
_______Total number of completed units in project ________Total number of units conveyed
_______Total number of units under contract ________Total number of units conveyed/under contract to investors
** PLEASE NOTE **
Please provide the following documents along with the completed questionnaire:
1. Homeowner’s Association Budget
2. Management Company Agreement (if applicable)
3. Copy of Declaration page from the Master Insurance Policy that reflects hazard, liability, fidelity bond and flood insurance if applicable.
THE UNDERSIGNED DOES HEREBY CERTIFY THAT THE INFORMATION ABOVE IS TRUE AND ACCURATE TO THE BEST OF THEIR KNOWLEDGE AS OF: ________________________.
(date)
___________________________________________ __________________________________________
Name of authorized signer Title
___________________________________________ __________________________________________
Organization of signer Signature Phone Number
THIS FORM IS TO BE COMPLETED BY A DIRECTOR OR OFFICER OF THE HOA OR MANAGER OF THE MANAGEMENT COMPANY ONLY.
9. Is there any commercial space designated in the project? o Yes o No Describe_______________________________________.
If yes, is the designated space more than 20% of the total square footage of the entire project? o Yes o No
10. Is there more than one association for the project, such as a “Master” or “Umbrella” Association? o Yes o No If yes:
Name of Master Assoc.:_________________________ Recreational Amenities:__________________________________________
Are the amenities complete? o Yes o No Date control of MHOA turned over to unit owners:________________
11. Is the subject association involved in any litigation? o Yes o No If yes, please provide copies of all litigation information available.
12. How is title held to units? o Fee Simple o Leasehold If leasehold, provide copy of lease(s).
13. Are there any leased common areas/facilities? o Yes o No If leasehold, provide copy of lease(s).
14. Do the unit owners have sole ownership in and the right to the use of the project facilities? o Yes o No
15. Does the project contain any leased or rented units? o Yes o No If yes, how many? ___________
16. Is there a rental service for leasing/renting units? o Yes o No
17. Does the homeowners’association provide a cleaning service for the leased/rented units? o Yes o No
18. Does the project have a front check-in desk for the leased/rented units? o Yes o No
19. Does any single investor or entity own more than 10% of the total units in the project? o Yes o No
If yes, please identify the investor/entity and indicate the total number of units owned by each separate investor:
__________________________________________________________________________________________________________
20. Does an outside, professional management firm manage the project? o Yes o No If yes, please provide contact information:
Name of Company:____________________________________ Contact:_______________________________________________
Address:_____________________________________________________________________Phone:_________________________
21. The unit assessment charges/fees for all units are:
o Uniform charges of $____________per month o Varying charges of $__________ to $___________ per month
22. How many unit owners are delinquent more than 30 days in their payment?_______; The total amount is $_____________
23. The amount currently held in a segregated reserve account for future repair/replacement of the project is $____________________
This amount is adequate for replacement of major components o Yes o No
24. Are there any special assessments now approved, or have there been any in the past year? o Yes o No If yes, please describe
nature of assessment, amount and per unit charge:__________________________________________________________________
25. Are there any mortgages or other long-term debts currently outstanding for the association? o Yes o No If yes, please describe
and state the terms of the loan:_________________________________________________________________________________
26. Does the Declaration or any other constituent documents governing the project contain a right of refusal (or to provide a substitute
buyer) in favor of the association or developer to purchase any unit in the project offered for sale, lease or transfer? o Yes o No
27. If a unit is taken over in foreclosure or deed-in-lieu, is the mortgagee responsible for delinquent HOA dues? o Yes o No
If yes, are they responsible for o 0-6 months or o 7+ months?
28. Please provide the following insurance information for the project:
Insurance Company:____________________________Agent’s Name:_____________________________Phone:_______________
29. Please provide the following sales information:
_______Total number of completed units in project ________Total number of units conveyed
_______Total number of units under contract ________Total number of units conveyed/under contract to investors
** PLEASE NOTE **
Please provide the following documents along with the completed questionnaire:
1. Homeowner’s Association Budget
2. Management Company Agreement (if applicable)
3. Copy of Declaration page from the Master Insurance Policy that reflects hazard, liability, fidelity bond and flood insurance if applicable.
THE UNDERSIGNED DOES HEREBY CERTIFY THAT THE INFORMATION ABOVE IS TRUE AND ACCURATE TO THE BEST OF THEIR KNOWLEDGE AS OF: ________________________.
(date)
___________________________________________ __________________________________________
Name of authorized signer Title
___________________________________________ __________________________________________
Organization of signer Signature Phone Number
THIS FORM IS TO BE COMPLETED BY A DIRECTOR OR OFFICER OF THE HOA OR MANAGER OF THE MANAGEMENT COMPANY ONLY.
Homeowners Association’s Certification 12/1/98
Lynnsy Logue The Real Estate Lady and CondoCanDo Charlotte NC
Information YOU Need to Know as Well as Your Lender:
HOMEOWNERS’ ASSOCIATION QUESTIONNAIRE
PROJECT NAME:_______________________________________________________________________
ADDRESS:_____________________________________________________________________________
BORROWER:_______________________________________________________LOAN NUMBER:_______________
This company is processing a mortgage loan, which is located in the subject homeowners’ association/project. Your assistance is required in answering the questions on this form. Your immediate response is requested as the subject loan funding is pending.
1. Legal name of project/homeowners’ association is:__________________________________________________________________
2. The project is a o Condominium o PUD
3. Was the project created by the conversion of an existing building? If yes, please provide the following information:
Age of subject:____________ Year converted______________ Original use_______________________
4. Voting control of the Board of Directors has been turned over from builder/developer since:______/_______ (month/year).
If not turned over yet, please provide anticipated date of transfer: ________/_________ (month/year).
5. The project is o is not o a legal phased project. The project consists of _____total units in _____ legal phases.
6. Are all units and common areas/facilities complete? o Yes o No
7. Can the project be expanded beyond its current size? o Yes o No If yes, number of add’l units to be built_______.
8. Please indicate the common amenities (other than those in a Master Association):
o Pool, # of ______ o Clubhouse, # of _______ o Tennis Court, # of ______ o Playground, # of _______
o Other _______________________________________________________________________________________
9. Is there any commercial space designated in the project? o Yes o No Describe_______________________________________.
If yes, is the designated space more than 20% of the total square footage of the entire project? o Yes o No
10. Is there more than one association for the project, such as a “Master” or “Umbrella” Association? o Yes o No If yes:
Name of Master Assoc.:_________________________ Recreational Amenities:__________________________________________
Are the amenities complete? o Yes o No Date control of MHOA turned over to unit owners:_____________
11. Is the subject association involved in any litigation? o Yes o No If yes, please provide copies of all litigation information available.
12. How is title held to units? o Fee Simple o Leasehold If leasehold, provide copy of lease(s).
13. Are there any leased common areas/facilities? o Yes o No If leasehold, provide copy of lease(s).
14. Do the unit owners have sole ownership in and the right to the use of the project facilities? o Yes o No
15. Does the project contain any leased or rented units? o Yes o No If yes, how many? ___________
16. Is there a rental service for leasing/renting units? o Yes o No
17. Does the homeowners' association provide a cleaning service for the leased/rented units? o Yes o No
18. Does the project have a front check-in desk for the leased/rented units? o Yes o No
19. Does any single investor or entity own more than 10% of the total units in the project? o Yes o No
If yes, please identify the investor/entity and indicate the total number of units owned by each separate investor:
_______________________________________________________________________________
20. Does an outside, professional management firm manage the project? o Yes o No If yes, please provide contact information:
Name of Company:__________________________________ Contact:__________________________________ Address:___________________________________________Phone:______________
21. The unit assessment charges/fees for all units are:
o Uniform charges of $____________per month o Varying charges of $__________ to $___________ per month
22. How many unit owners are delinquent more than 30 days in their payment?_______; The total amount is $____________
23. The amount currently held in a segregated reserve account for future repair/replacement of the project is $_____________
This amount is adequate for replacement of major components o Yes o No
24. Are there any special assessments now approved, or have there been any in the past year? o Yes o No If yes, please describe nature of assessment, amount and per unit charge:__________________________________________________________________
25. Are there any mortgages or other long-term debts currently outstanding for the association? o Yes o No If yes, please describe and state the terms of the loan:_________________________________________________________________________________
26. Does the Declaration or any other constituent documents governing the project contain a right of refusal (or to provide a substitute
buyer) in favor of the association or developer to purchase any unit in the project offered for sale, lease or transfer? o Yes o No
27. If a unit is taken over in foreclosure or deed-in-lieu, is the mortgagee responsible for delinquent HOA dues? o Yes o No
If yes, are they responsible for o 0-6 months or o 7+ months?
28. Please provide the following insurance information for the project:
Insurance Company:____________________________Agent’s Name:_____________________________Phone:_______________
29. Please provide the following sales information:
_______Total number of completed units in project ________Total number of units conveyed
_______Total number of units under contract ________Total number of units conveyed/under contract to investors
** PLEASE NOTE **
Please provide the following documents along with the completed questionnaire:
1. Homeowner’s Association Budget
2. Management Company Agreement (if applicable)
3. Copy of Declaration page from the Master Insurance Policy that reflects hazard, liability, fidelity bond and flood insurance if applicable.
THE UNDERSIGNED DOES HEREBY CERTIFY THAT THE INFORMATION ABOVE IS TRUE AND ACCURATE TO THE BEST OF THEIR KNOWLEDGE AS OF: ________________________.
(date)
___________________________________________ __________________________________________
Name of authorized signer Title
___________________________________________ __________________________________________
Organization of signer Signature Phone Number
THIS FORM IS TO BE COMPLETED BY A DIRECTOR OR OFFICER OF THE HOA OR MANAGER OF THE MANAGEMENT COMPANY ONLY.
9. Is there any commercial space designated in the project? o Yes o No Describe_______________________________________.
If yes, is the designated space more than 20% of the total square footage of the entire project? o Yes o No
10. Is there more than one association for the project, such as a “Master” or “Umbrella” Association? o Yes o No If yes:
Name of Master Assoc.:_________________________ Recreational Amenities:__________________________________________
Are the amenities complete? o Yes o No Date control of MHOA turned over to unit owners:________________
11. Is the subject association involved in any litigation? o Yes o No If yes, please provide copies of all litigation information available.
12. How is title held to units? o Fee Simple o Leasehold If leasehold, provide copy of lease(s).
13. Are there any leased common areas/facilities? o Yes o No If leasehold, provide copy of lease(s).
14. Do the unit owners have sole ownership in and the right to the use of the project facilities? o Yes o No
15. Does the project contain any leased or rented units? o Yes o No If yes, how many? ___________
16. Is there a rental service for leasing/renting units? o Yes o No
17. Does the homeowners’association provide a cleaning service for the leased/rented units? o Yes o No
18. Does the project have a front check-in desk for the leased/rented units? o Yes o No
19. Does any single investor or entity own more than 10% of the total units in the project? o Yes o No
If yes, please identify the investor/entity and indicate the total number of units owned by each separate investor:
__________________________________________________________________________________________________________
20. Does an outside, professional management firm manage the project? o Yes o No If yes, please provide contact information:
Name of Company:____________________________________ Contact:_______________________________________________
Address:_____________________________________________________________________Phone:_________________________
21. The unit assessment charges/fees for all units are:
o Uniform charges of $____________per month o Varying charges of $__________ to $___________ per month
22. How many unit owners are delinquent more than 30 days in their payment?_______; The total amount is $_____________
23. The amount currently held in a segregated reserve account for future repair/replacement of the project is $____________________
This amount is adequate for replacement of major components o Yes o No
24. Are there any special assessments now approved, or have there been any in the past year? o Yes o No If yes, please describe
nature of assessment, amount and per unit charge:__________________________________________________________________
25. Are there any mortgages or other long-term debts currently outstanding for the association? o Yes o No If yes, please describe
and state the terms of the loan:_________________________________________________________________________________
26. Does the Declaration or any other constituent documents governing the project contain a right of refusal (or to provide a substitute
buyer) in favor of the association or developer to purchase any unit in the project offered for sale, lease or transfer? o Yes o No
27. If a unit is taken over in foreclosure or deed-in-lieu, is the mortgagee responsible for delinquent HOA dues? o Yes o No
If yes, are they responsible for o 0-6 months or o 7+ months?
28. Please provide the following insurance information for the project:
Insurance Company:____________________________Agent’s Name:_____________________________Phone:_______________
29. Please provide the following sales information:
_______Total number of completed units in project ________Total number of units conveyed
_______Total number of units under contract ________Total number of units conveyed/under contract to investors
** PLEASE NOTE **
Please provide the following documents along with the completed questionnaire:
1. Homeowner’s Association Budget
2. Management Company Agreement (if applicable)
3. Copy of Declaration page from the Master Insurance Policy that reflects hazard, liability, fidelity bond and flood insurance if applicable.
THE UNDERSIGNED DOES HEREBY CERTIFY THAT THE INFORMATION ABOVE IS TRUE AND ACCURATE TO THE BEST OF THEIR KNOWLEDGE AS OF: ________________________.
(date)
___________________________________________ __________________________________________
Name of authorized signer Title
___________________________________________ __________________________________________
Organization of signer Signature Phone Number
THIS FORM IS TO BE COMPLETED BY A DIRECTOR OR OFFICER OF THE HOA OR MANAGER OF THE MANAGEMENT COMPANY ONLY.
Homeowners Association’s Certification 12/1/98
March 30, 2008 Permits and Inspections, Let's Take a Look...
March 30, 2008
Lynnsy Logue, The Real Estate Lady and CondoCanDo in Charlotte, NC
Permits and inspections, let’s take a look…
Charlotte and change. The two go together. Huge building cranes populate the center city and the crane sentinels keep watch and work on a hospital site off Randolph Road, in the SouthPark cluster of office buildings, out Ballantyne Country Club way and up at the ever-expanding University of North Carolina-Charlotte.On a smaller scale, homes are being remodeled or torn down. Condos are coming out of conversion or under new construction…decks and patios, fences and driveways, room additions and garages with apartments above…new home sites tend to be smaller and one might wonder about surveys…and the importance of permitting for furnaces and decks, driveways and the like. And the follow-up of county inspections. Charlotte is a busy, growing city in every direction. Both old and new homes and offices are undergoing transformation.
Here’s an example: supposing you installed a new furnace and air conditioner two years ago. You thought the contractor was licensed. You assumed the unit was permitted and inspected. It was only when it was sold, inspected by a structural and mechanical inspector and then by a HVAC company that the buyer/seller discovered that the unit had never been permitted, never been inspected and the contractor was not licensed in North Carolina.Consequences: if a fire happened and the insurance company in their due diligence discovered this, your claim might be in jeopardy. If the information were divulged to FHA (assuming the loan were going FHA), the FHA appraiser would deduct the system from the appraisal. So the house would not appraise for the purchase price in most cases.
You can check property yourself in Mecklenburg County by going to www.meckpermit.com. Just simply enter the address and you will get a record of items permitted. Checking a contractor’s license in North Carolina, go to N.C. Board of Examiners and follow your nose. You can search by name and by county.Verifying has always been our job, even more so now in our energetic market.
Coming up: Condo Documents
Lynnsy Logue, The Real Estate Lady and CondoCanDo in Charlotte, NC
Permits and inspections, let’s take a look…
Charlotte and change. The two go together. Huge building cranes populate the center city and the crane sentinels keep watch and work on a hospital site off Randolph Road, in the SouthPark cluster of office buildings, out Ballantyne Country Club way and up at the ever-expanding University of North Carolina-Charlotte.On a smaller scale, homes are being remodeled or torn down. Condos are coming out of conversion or under new construction…decks and patios, fences and driveways, room additions and garages with apartments above…new home sites tend to be smaller and one might wonder about surveys…and the importance of permitting for furnaces and decks, driveways and the like. And the follow-up of county inspections. Charlotte is a busy, growing city in every direction. Both old and new homes and offices are undergoing transformation.
Here’s an example: supposing you installed a new furnace and air conditioner two years ago. You thought the contractor was licensed. You assumed the unit was permitted and inspected. It was only when it was sold, inspected by a structural and mechanical inspector and then by a HVAC company that the buyer/seller discovered that the unit had never been permitted, never been inspected and the contractor was not licensed in North Carolina.Consequences: if a fire happened and the insurance company in their due diligence discovered this, your claim might be in jeopardy. If the information were divulged to FHA (assuming the loan were going FHA), the FHA appraiser would deduct the system from the appraisal. So the house would not appraise for the purchase price in most cases.
You can check property yourself in Mecklenburg County by going to www.meckpermit.com. Just simply enter the address and you will get a record of items permitted. Checking a contractor’s license in North Carolina, go to N.C. Board of Examiners and follow your nose. You can search by name and by county.Verifying has always been our job, even more so now in our energetic market.
Coming up: Condo Documents
Saturday, March 29, 2008
March 29,2008 Inspections and How Situations Change
March 29, 2008Lynnsy Logue, The Real Estate Lady and CondoCanDo in Charlotte, NCInspections and How Situations Change…Real Estate is like the ocean…probably more volatile because our life forms are humans. So we have the predators, the bottom fish, big fish and really big mammals, and little fish, plankton and seaweed. And the Dolphins. But we are different because we are shape shifters…what looks like a Dolphin person may well be a hungry shark. The test is when we get into unknown waters.The “we” represents the brokers and the buyer and the seller. The unknown waters is sometimes the time for inspections. Because even though the inspectors are licensed and have a governing agency, they are not all alike. Just like “we” are not all alike.Hire three different inspectors and you will have three different reports. 1. They are not all written in the same format. 2. Some are more descriptive than others 3. Some are lacking.4. Some come with color pictures of the troubled spots.5. Inspectors are human,too. Sometimes they miss something.Recently, I had a buyer who liked a house that had been under contract, inspections had been done, repairs were underway. The buyer backed out.We liked the house and wanted to make an offer. The seller said fine, but I am not making anymore repairs. We said, we’ll have it inspected again, have our repair guy look at everything and if all is true, we’ll proceed without further ado. We asked for the previous inspection and for the repair list so our guys could see what had been done.The first inspector was lacking in his report. He reported items that do not require reporting, cosmetic items. He didn’t catch the live hanging wires under the kitchen, he didn’t check the water heater and the list goes on. The sellers repair guy just showed up and did a few things and not well and charged a lot. Our inspector was thorough beyond belief. Comparing the two inspection reports was like day and night. Our repair guy made his list and checked the other’s work. Disparity. And the final straw is in the next podcast because what my handyman and I found in the crawl space was a huge problem that we both “felt” and explored.So what’s my point. If you hire an inspector, look at a sample of their work, check their credentials and make a list of items you and/or your broker have specific questions about and ask him to address them in his report. Give him/her a written list. And for the handyman, even I have been fooled by the smooth talker. The guy I like the best always shows up on time, always sends me a written estimate line by line, always thinks ahead of me and has great ideas, always tries to save money if he can without loosing quality and his prices are always fair. I found him through another broker. Good source.
Coming up…Permits and County Inspections
Lynnsy Logue, The Real Estate Lady and CondoCanDo, Charlotte, NC
Coming up…Permits and County Inspections
Lynnsy Logue, The Real Estate Lady and CondoCanDo, Charlotte, NC
Friday, March 28, 2008
Home Owner's Questionnaire...Good Stuff!
March 28, 2008
Lynnsy Logue, The Real Estate Lady and CondoCanDo, Charlotte, NC
Home Owner’s Questionnaire…Good Stuff.
So here is the scenario. You decide to buy a condo. You are a first time home buyer. You’ve gotten pre-approval for a loan amount, you’ve teamed up with a real estate broker and you are on the Internet ( 87% of buyers and sellers head to the web) and in your car( 67% drive the area, check the neighborhoods and I do this as well).You’ve found the one you really like, made your offer, negotiated the deal and you’ve got a contract. So you know you like the location, you like the floor plan, you can have a dog, there’s a pool. But what else do you need to know?I posted a great and thorough questionnaire on http://www.condocando.com/ that I picked up at Countrywide. It’s pretty detailed but I like detail especially when it comes to condominiums and town homes. You need to know before you buy how many investors there are…if the complex or building is complete? (Sound strange? It has happened.)Can the project be expanded beyond its current size? That’s really good. Is there any commercial space designated in the project? This has happened after the fact. Are there any pending lawsuits? Assessments being discussed or forthcoming? Catch my drift?
An ounce of prevention is worth a pound of cure. Download the form or ask your mortgage broker for their company’s questionnaire. Ask the questions, read the documents.Documents, you say?…Discussion on the way!
Lynnsy Logue, The Real Estate Lady and CondoCanDo in Charlotte, NC
Lynnsy Logue, The Real Estate Lady and CondoCanDo, Charlotte, NC
Home Owner’s Questionnaire…Good Stuff.
So here is the scenario. You decide to buy a condo. You are a first time home buyer. You’ve gotten pre-approval for a loan amount, you’ve teamed up with a real estate broker and you are on the Internet ( 87% of buyers and sellers head to the web) and in your car( 67% drive the area, check the neighborhoods and I do this as well).You’ve found the one you really like, made your offer, negotiated the deal and you’ve got a contract. So you know you like the location, you like the floor plan, you can have a dog, there’s a pool. But what else do you need to know?I posted a great and thorough questionnaire on http://www.condocando.com/ that I picked up at Countrywide. It’s pretty detailed but I like detail especially when it comes to condominiums and town homes. You need to know before you buy how many investors there are…if the complex or building is complete? (Sound strange? It has happened.)Can the project be expanded beyond its current size? That’s really good. Is there any commercial space designated in the project? This has happened after the fact. Are there any pending lawsuits? Assessments being discussed or forthcoming? Catch my drift?
An ounce of prevention is worth a pound of cure. Download the form or ask your mortgage broker for their company’s questionnaire. Ask the questions, read the documents.Documents, you say?…Discussion on the way!
Lynnsy Logue, The Real Estate Lady and CondoCanDo in Charlotte, NC
Thursday, March 27, 2008
Condominium Insurance, Part Two
March 27, 2008
Lynnsy Logue, The Real Estate Lady and CondoCanDo, Charlotte, NC
Condominium Insurance-Part Two
The following is a great excerpt from InmanNews:
“Take this very common situation: a common-element pipe burst, causing major flooding damage throughout the building, including in your unit. The condominium association files its claim against the master policy, and you file your claim with your insurance company. However, each company points it’s finger at the other one, stating that it is the obligation of the other carrier to cover the claim. Often, when faced with this situation,one expert merely tells both agents: "Guys, both the master and the HO-6 policy were issued by the same company, so why not just work it out on your own, and make sure that both the association and the owner are properly compensated for their losses?"
If you own a condominium unit, learn the difference between a unit and the common elements. Remember we often say a condo is the space, the area between the floors and the walls. Common areas are elevators, hallways, roof mechanical equipment, parking garage. And further, consider the pipes that serve only your unit will most likely be considered part of your unit -- even though those pipes go down the walls outside of your unit.
It is important that you understand these concepts. Your association declaration will provide you with this information, but if you get confused with the legal (and architectural) terms, consult the association's property manager, its attorney or even the insurance agent for your building. It is absolutely critical for every owner to carefully read -- and reread periodically -- these legal documents.
If you are renting your unit, you probably will not need protection for your tenant's personal property. However, you still need coverage in case someone gets hurt in your unit, and accordingly should still obtain the HO-6 policy. And you should make it a requirement in your lease that your tenants purchase "renters insurance" -- called an HO-4 policy -- so that they too will have protection in case problems arise.
Damage to condominium units can come from many sources. The hot water hoses in your washer can burn out. Your fireplace chimney can get stuffed up, unable to provide the necessary updraft. Or the rubber seal under your toilet gets worn down.
One never knows when these problems occur. More importantly, disasters are often out of your control. The cost of this insurance is nominal, considering the risk and the exposure involved.
Good Insurance Information at www.iii.org Insurance Information Institute
Lynnsy Logue, The Real Estate Lady and Condo CanDo, Charlotte, NC
Lynnsy Logue, The Real Estate Lady and CondoCanDo, Charlotte, NC
Condominium Insurance-Part Two
The following is a great excerpt from InmanNews:
“Take this very common situation: a common-element pipe burst, causing major flooding damage throughout the building, including in your unit. The condominium association files its claim against the master policy, and you file your claim with your insurance company. However, each company points it’s finger at the other one, stating that it is the obligation of the other carrier to cover the claim. Often, when faced with this situation,one expert merely tells both agents: "Guys, both the master and the HO-6 policy were issued by the same company, so why not just work it out on your own, and make sure that both the association and the owner are properly compensated for their losses?"
If you own a condominium unit, learn the difference between a unit and the common elements. Remember we often say a condo is the space, the area between the floors and the walls. Common areas are elevators, hallways, roof mechanical equipment, parking garage. And further, consider the pipes that serve only your unit will most likely be considered part of your unit -- even though those pipes go down the walls outside of your unit.
It is important that you understand these concepts. Your association declaration will provide you with this information, but if you get confused with the legal (and architectural) terms, consult the association's property manager, its attorney or even the insurance agent for your building. It is absolutely critical for every owner to carefully read -- and reread periodically -- these legal documents.
If you are renting your unit, you probably will not need protection for your tenant's personal property. However, you still need coverage in case someone gets hurt in your unit, and accordingly should still obtain the HO-6 policy. And you should make it a requirement in your lease that your tenants purchase "renters insurance" -- called an HO-4 policy -- so that they too will have protection in case problems arise.
Damage to condominium units can come from many sources. The hot water hoses in your washer can burn out. Your fireplace chimney can get stuffed up, unable to provide the necessary updraft. Or the rubber seal under your toilet gets worn down.
One never knows when these problems occur. More importantly, disasters are often out of your control. The cost of this insurance is nominal, considering the risk and the exposure involved.
Good Insurance Information at www.iii.org Insurance Information Institute
Lynnsy Logue, The Real Estate Lady and Condo CanDo, Charlotte, NC
Wednesday, March 26, 2008
Condominium Insurance, Part One
March 26, 2008
Lynnsy Logue, The Real Estate Lady and Condo CanDo, Charlotte, NC
One more step…Condominium Insurance.
Let’s be precise. This is condominium insurance. Not co-op or town home, but genuine condominium insurance. Good. In every condominium and co-operative and even townhome communities there is a master insurance policy. Each association requires a certain level of insurance. The Lender requires proof of this Master Policy. Further the coverage must be consistent with the legal requirements. The buyer’s lender has a form that is completed by the Home Owner’s Association regarding this policy.
This master policy may not cover your personal loss. The master policy covers the common areas that owners share with others in the building like the roof, elevator, hallways and walkways for both physical damage and liability. If someone takes a tumble, the master policy provides coverage and if a lawsuit ensues, the master policy will also cover the legal costs incurred by the Home Owners Association.If a unit suffers maximum damage, the master policy will bear the expense for the restoration of ceilings and walls. And then there are the grey areas: appliances. Sometimes a master policy will cover them and sometimes not. Remember the deductible and your HOA should know that figure.But…read carefully…any improvements that previous owners or you have made will not be covered. I read this in my insurance brochure, the word is “betterments”. Wallpaper or upgrades in the kitchen or bathroom are not covered. It is better to know this before you need to know this, right? The most common occurrences are the overflowing bath tub or shower: tumbling water into the units below. The Master Policy will repair floors and ceilings…other items that were damaged like that hand woven Greek wall hanging, Persian rug or priceless water color will lack coverage. For those items, you will need your own individual policy. This insurance policy is known as an HO-6 policy. This gives you coverage subject to a deductible for your personal furniture, clothing and “betterments” in your unit.
Depending on your own financial situation, the HO-6 policy can also include such things as reimbursing you for monthly assessments and alternative lodging while you are unable to reside in your unit; water and sewer back-ups (which are all too common especially in older buildings); and even expensive jewelry, stamp or coin collections, or fur coats. You should be able to obtain this kind of policy through any insurance agent
Some associations require that every owner obtain the HO-6 policy, and many experts strongly recommended that every association make this a requirement.
I have read that the best approach is to obtain that policy from the same carrier that issued the master policy.
Condo Insurance, Part Two…Coming Up!
Good insurance information at Insurance Information Institute: www.iii.com
Lynnsy Logue, The Real Estate Lady and Condo CanDo, Charlotte, NC
One more step…Condominium Insurance.
Let’s be precise. This is condominium insurance. Not co-op or town home, but genuine condominium insurance. Good. In every condominium and co-operative and even townhome communities there is a master insurance policy. Each association requires a certain level of insurance. The Lender requires proof of this Master Policy. Further the coverage must be consistent with the legal requirements. The buyer’s lender has a form that is completed by the Home Owner’s Association regarding this policy.
This master policy may not cover your personal loss. The master policy covers the common areas that owners share with others in the building like the roof, elevator, hallways and walkways for both physical damage and liability. If someone takes a tumble, the master policy provides coverage and if a lawsuit ensues, the master policy will also cover the legal costs incurred by the Home Owners Association.If a unit suffers maximum damage, the master policy will bear the expense for the restoration of ceilings and walls. And then there are the grey areas: appliances. Sometimes a master policy will cover them and sometimes not. Remember the deductible and your HOA should know that figure.But…read carefully…any improvements that previous owners or you have made will not be covered. I read this in my insurance brochure, the word is “betterments”. Wallpaper or upgrades in the kitchen or bathroom are not covered. It is better to know this before you need to know this, right? The most common occurrences are the overflowing bath tub or shower: tumbling water into the units below. The Master Policy will repair floors and ceilings…other items that were damaged like that hand woven Greek wall hanging, Persian rug or priceless water color will lack coverage. For those items, you will need your own individual policy. This insurance policy is known as an HO-6 policy. This gives you coverage subject to a deductible for your personal furniture, clothing and “betterments” in your unit.
Depending on your own financial situation, the HO-6 policy can also include such things as reimbursing you for monthly assessments and alternative lodging while you are unable to reside in your unit; water and sewer back-ups (which are all too common especially in older buildings); and even expensive jewelry, stamp or coin collections, or fur coats. You should be able to obtain this kind of policy through any insurance agent
Some associations require that every owner obtain the HO-6 policy, and many experts strongly recommended that every association make this a requirement.
I have read that the best approach is to obtain that policy from the same carrier that issued the master policy.
Condo Insurance, Part Two…Coming Up!
Good insurance information at Insurance Information Institute: www.iii.com
Monday, March 24, 2008
Follow Up Two:Certified Radon Measurement Provider
March 25, 2008
Lynnsy Logue, The Real Estate Lady and Condo CanDo
Latta Pavilion: Following Up with a Certified Radon Measurement Provider
Michael Lewis is a highly qualified inspector with superb credentials and experience. You may check his background and service information at his website: www.mecklenburginspections.com.
I received this last night from Michael:
Radon
I am often asked “do I have radon in my home?”. The answer is yes. Radon is everywhere. It is the level of the radon and the expose time that is harmful. The EPA suggests that when the level in homes reaches 4.0 Pico curies per liter, remediation is needed. The common levels outside the home are usually 0.4 Pico curies per liter.
What is Radon? Radon is a colorless, odorless and tasteless gas that is produced by decaying uranium and radium. If it sounds scary, it is. Temperature, wind conditions, and air pressure, as well as behavioral factors, influence ventilation and concentration of radon and its decay products that may build up in a room. Efforts to improve insulation and preserve energy may often times make the situation worse. This means that your efforts to make your home more energy efficient make it harder for your home to breathe.
The use of stony building materials and ground conditions influence indoor concentrations of radon and its decay products. The leakage of radon from the ground shows great variations, and very high indoor concentrations can occur in one house, but not in another, even if located nearby. In general, the leakage of radon from the ground is usually more important than its emanation from stony building materials. Radon can even be located in the water, but is less of a threat than the levels in your environment, such as the home or work place.
The EPA estimates the amount of deaths caused by radon induced lung cancer is about 21,000 per year, second only to deaths caused by drunk drivers. Persons that smoke increase their chances greatly.
To test the levels of radon gas in your home, a certified radon measurement provider should be contacted. If the levels are at 4.0 Pico curies or more, mitigation will be necessary to lower the radon gas levels. For more information go to, www.epa.gov/radon/pubs/hmbyguid.html.
Mecklenburg Inspections, Inc.
Licensed NC and SC Home Inspector
Certified Radon Measurement Provider
As we discover/learn more information about Radon or if there are any further developments regarding Latta Pavillion, I will post them here.
Lynnsy Logue, The Real Estate Lady and Condo CanDo
Latta Pavilion: Following Up with a Certified Radon Measurement Provider
Michael Lewis is a highly qualified inspector with superb credentials and experience. You may check his background and service information at his website: www.mecklenburginspections.com.
I received this last night from Michael:
Radon
I am often asked “do I have radon in my home?”. The answer is yes. Radon is everywhere. It is the level of the radon and the expose time that is harmful. The EPA suggests that when the level in homes reaches 4.0 Pico curies per liter, remediation is needed. The common levels outside the home are usually 0.4 Pico curies per liter.
What is Radon? Radon is a colorless, odorless and tasteless gas that is produced by decaying uranium and radium. If it sounds scary, it is. Temperature, wind conditions, and air pressure, as well as behavioral factors, influence ventilation and concentration of radon and its decay products that may build up in a room. Efforts to improve insulation and preserve energy may often times make the situation worse. This means that your efforts to make your home more energy efficient make it harder for your home to breathe.
The use of stony building materials and ground conditions influence indoor concentrations of radon and its decay products. The leakage of radon from the ground shows great variations, and very high indoor concentrations can occur in one house, but not in another, even if located nearby. In general, the leakage of radon from the ground is usually more important than its emanation from stony building materials. Radon can even be located in the water, but is less of a threat than the levels in your environment, such as the home or work place.
The EPA estimates the amount of deaths caused by radon induced lung cancer is about 21,000 per year, second only to deaths caused by drunk drivers. Persons that smoke increase their chances greatly.
To test the levels of radon gas in your home, a certified radon measurement provider should be contacted. If the levels are at 4.0 Pico curies or more, mitigation will be necessary to lower the radon gas levels. For more information go to, www.epa.gov/radon/pubs/hmbyguid.html.
Mecklenburg Inspections, Inc.
Licensed NC and SC Home Inspector
Certified Radon Measurement Provider
As we discover/learn more information about Radon or if there are any further developments regarding Latta Pavillion, I will post them here.
Latta Pavilion: Two Follow-Ups. First, Tracking
March 24, 2008
Lynnsy Logue, The Real Estate Lady and Condo CanDo in Charlotte, NC
Latta Pavilion: Two Follow Ups. First, Tracking
When I began my series on Latta Pavilion and Radon, I put out a couple of emails to people in the business. The first reply is from a highly qualified construction professional who works with building condominiums, townhomes, single family homes and large apartment complexes. I asked him how one would begin to track aggregate used in such a project as Latta Pavilion.Here is his reply:
The only way you would be able to track down where the stone came from is to know who the concrete subcontractor was on that job. Then, you'd have to contact that subcontractor and get them to tell you who supplied them with the stone. Then, contact that supplier and ask them where they got their stone during the period of time they supplied to that subcontractor and, most importantly, for that particular job, because a large subcontractor will have several jobs going at once. And they may have an account with one supplier, but that supplier may ship to different jobs from different quarries depending upon the job location. Then, and only then, when you have tracked down which quarry the stone came from, you can then find out which concrete subcontractors the quarry sold to. Then, you'd have to contact those subcontractors and see if they could tell you if the stone they purchased from that quarry was used for slabs or flatwork (sidewalks). If they can tell you specifically slabs, ask them on which projects those slabs were poured.
Yes, it's some back-tracking, and alot of footwork. But that's the only possible way I know that you could track down that sort of information. I hope that helps!Next, I also spoke with a certified Radon Inspector and asked for his overview.
Coming Up Tomorrow: Certified Radon Inspector Comments on Radon
Lynnsy Logue, The Real Estate Lady and Condo CanDo in Charlotte, NC
Latta Pavilion: Two Follow Ups. First, Tracking
When I began my series on Latta Pavilion and Radon, I put out a couple of emails to people in the business. The first reply is from a highly qualified construction professional who works with building condominiums, townhomes, single family homes and large apartment complexes. I asked him how one would begin to track aggregate used in such a project as Latta Pavilion.Here is his reply:
The only way you would be able to track down where the stone came from is to know who the concrete subcontractor was on that job. Then, you'd have to contact that subcontractor and get them to tell you who supplied them with the stone. Then, contact that supplier and ask them where they got their stone during the period of time they supplied to that subcontractor and, most importantly, for that particular job, because a large subcontractor will have several jobs going at once. And they may have an account with one supplier, but that supplier may ship to different jobs from different quarries depending upon the job location. Then, and only then, when you have tracked down which quarry the stone came from, you can then find out which concrete subcontractors the quarry sold to. Then, you'd have to contact those subcontractors and see if they could tell you if the stone they purchased from that quarry was used for slabs or flatwork (sidewalks). If they can tell you specifically slabs, ask them on which projects those slabs were poured.
Yes, it's some back-tracking, and alot of footwork. But that's the only possible way I know that you could track down that sort of information. I hope that helps!Next, I also spoke with a certified Radon Inspector and asked for his overview.
Coming Up Tomorrow: Certified Radon Inspector Comments on Radon
Sunday, March 16, 2008
Latta Pavilion Is Sick. Getting a Read on Radon.
March 23,2008
Lynnsy Logue, The Real Estate Lady and CondoCanDo, Charlotte, NC
Chapter Two. Now you See It, Now You Don’t…This may require several parts but I feel compelled to talk about what I have read and ultimately who I will talk to about this and what links I can provide you the reader, the listener, the real estate consumer. This is serious. It is Radon. I think I will simply publish the whole story as it appeared in the Business Journal. I have been waiting for a follow up from someone…a newspaper, a radio report, a television, but nothing as of this date.I am going to put this on my blog as well. And will do my best to follow this through. This addresses my core concern…public health, public safety, consumer awareness.I will try present the whole article as it appeared on February 22, 2008 in the Business Journal. Counting this, here will be five parts:
1.Latta Pavilion Is Sick
2.Taking Measure
3.Solving The Problem
4.Still Selling
5.Getting a Read on Radon
GETTING A READ ON RADON
§ What is it? Colorless and odorless radioactive gas formed in rock and soil.
§ How does it get in your home or business? Leaks into basement or crawl space from exposed soil, rock. Also is present in building materials such as natural stone or rock.
§ How dangerous is radon? The EPA says radon causes 100 times more deaths than carbon monoxide poisoning. It is the second-leading cause of lung cancer.
§ How to check? EPA-certified radon test kits are available for $20 from hardware, discount stores.
§ How do you cut levels? Seal cracks, openings to prevent from entering via soil; ventilation to carry gas out of a building.
Source: Environmental Protection Agency
As there is follow up, it will be posted here!!!
Lynnsy Logue, The Real Estate Lady and CondoCanDo, Charlotte, NC
Chapter Two. Now you See It, Now You Don’t…This may require several parts but I feel compelled to talk about what I have read and ultimately who I will talk to about this and what links I can provide you the reader, the listener, the real estate consumer. This is serious. It is Radon. I think I will simply publish the whole story as it appeared in the Business Journal. I have been waiting for a follow up from someone…a newspaper, a radio report, a television, but nothing as of this date.I am going to put this on my blog as well. And will do my best to follow this through. This addresses my core concern…public health, public safety, consumer awareness.I will try present the whole article as it appeared on February 22, 2008 in the Business Journal. Counting this, here will be five parts:
1.Latta Pavilion Is Sick
2.Taking Measure
3.Solving The Problem
4.Still Selling
5.Getting a Read on Radon
GETTING A READ ON RADON
§ What is it? Colorless and odorless radioactive gas formed in rock and soil.
§ How does it get in your home or business? Leaks into basement or crawl space from exposed soil, rock. Also is present in building materials such as natural stone or rock.
§ How dangerous is radon? The EPA says radon causes 100 times more deaths than carbon monoxide poisoning. It is the second-leading cause of lung cancer.
§ How to check? EPA-certified radon test kits are available for $20 from hardware, discount stores.
§ How do you cut levels? Seal cracks, openings to prevent from entering via soil; ventilation to carry gas out of a building.
Source: Environmental Protection Agency
As there is follow up, it will be posted here!!!
Latta Pavilion Is Sick. Still Selling.
March 22,2008
Lynnsy Logue, The Real Estate Lady and CondoCanDo, Charlotte, NC
Chapter Two. Now you See It, Now You Don’t…This may require several parts but I feel compelled to talk about what I have read and ultimately who I will talk to about this and what links I can provide you the reader, the listener, the real estate consumer. This is serious. It is Radon. I think I will simply publish the whole story as it appeared in the Business Journal. I have been waiting for a follow up from someone…a newspaper, a radio report, a television, but nothing as of this date.I am going to put this on my blog as well. And will do my best to follow this through. This addresses my core concern…public health, public safety, consumer awareness.I will present the whole article as it appeared on February 22, 2008 in the Business Journal. Counting this, here will be five parts:
1.Latta Pavilion Is Sick
2.Taking Measure
3.Solving The Problem
4.Still Selling
5.Getting a Read on Radon
Here goes:
Still Selling
In spite of the elevated levels of radon, people are still buying units at Latta Pavilion.
Allen Tate's Dilworth office has sold three units in Latta Pavilion since the radon was found. "We have not worked with any potential buyers who elected not to purchase in this community, based on this knowledge," says Jane Richey, the office branch manager.
Kindbom says Tate has been discussing the radon issue since it was discovered at Latta Pavilion. She says radon tests are not routine in Charlotte, but adds it's always better to be safe than sorry.
"It's a fixable problem that's not terribly expensive," Kindbom says. "My hope is that once this is corrected it will be a nonfactor."
Grubb says his company has moved quickly to try to resolve the issue. "We're not trying to hide our head in the sand."
He'd like to move forward with a mitigation plan that includes the fan installation in each unit over the next couple of months. "We'll have to work through whether this is a design issue, construction materials or an engineering issue. That part won't be fun."
Next: GETTING A READ ON RADON
Lynnsy Logue, The Real Estate Lady and CondoCanDo, Charlotte, NC
Chapter Two. Now you See It, Now You Don’t…This may require several parts but I feel compelled to talk about what I have read and ultimately who I will talk to about this and what links I can provide you the reader, the listener, the real estate consumer. This is serious. It is Radon. I think I will simply publish the whole story as it appeared in the Business Journal. I have been waiting for a follow up from someone…a newspaper, a radio report, a television, but nothing as of this date.I am going to put this on my blog as well. And will do my best to follow this through. This addresses my core concern…public health, public safety, consumer awareness.I will present the whole article as it appeared on February 22, 2008 in the Business Journal. Counting this, here will be five parts:
1.Latta Pavilion Is Sick
2.Taking Measure
3.Solving The Problem
4.Still Selling
5.Getting a Read on Radon
Here goes:
Still Selling
In spite of the elevated levels of radon, people are still buying units at Latta Pavilion.
Allen Tate's Dilworth office has sold three units in Latta Pavilion since the radon was found. "We have not worked with any potential buyers who elected not to purchase in this community, based on this knowledge," says Jane Richey, the office branch manager.
Kindbom says Tate has been discussing the radon issue since it was discovered at Latta Pavilion. She says radon tests are not routine in Charlotte, but adds it's always better to be safe than sorry.
"It's a fixable problem that's not terribly expensive," Kindbom says. "My hope is that once this is corrected it will be a nonfactor."
Grubb says his company has moved quickly to try to resolve the issue. "We're not trying to hide our head in the sand."
He'd like to move forward with a mitigation plan that includes the fan installation in each unit over the next couple of months. "We'll have to work through whether this is a design issue, construction materials or an engineering issue. That part won't be fun."
Next: GETTING A READ ON RADON
Latta Pavilion Is Sick. Solving The Problem
March 21, 2008
Lynnsy Logue, The Real Estate Lady and CondoCanDo, Charlotte, NC
Chapter Two. Now you See It, Now You Don’t…
This may require several parts but I feel compelled to talk about what I have read and ultimately who I will talk to about this and what links I can provide you the reader, the listener, the real estate consumer. This is serious. It is Radon. I think I will simply publish the whole story as it appeared in the Business Journal. I have been waiting for a follow up from someone…a newspaper, a radio report, a television, but nothing as of this date.I am going to put this on my blog as well. And will do my best to follow this through. This addresses my core concern…public health, public safety, consumer awareness.I will present the whole article as it appeared on February 22, 2008. Counting this, here will be five parts:
1.Latta Pavilion Is Sick
2.Taking Measure
3.Solving The Problem
4.Still Selling
5.Getting a Read on Radon
Here goes:
Solving the problem
Grubb is involved in a mediation process with Rodgers Builders, the executive board of the Latta Pavilion Condominium Owners Association Inc. and the project's designer, Charlotte-based FMK Architects.
"We have consulted with numerous experts and coordinated professional tests of many units as well as overall airflow in the building," the homeowners association said in a statement sent to the Charlotte Business Journal this week. "Based on what the experts tell us, we believe the primary problem is insufficient airflow between the units and the outside environment."
Association member Buck Lawrimore, owner of a communications firm who is acting as the group's spokesman, declines to comment on the issue.
In the written statement, the association says it's working with Grubb and Rodgers Builders to find a solution. So far, the focus is on installing fans that would funnel the gas out of the building. The cost: $5,000 per unit, or $1.3 million.
Grubb pledges that tenants won't bear any of the expense, but it's not clear who will.
Grubb believes a faulty ventilation system designed by FMK is the cause of the radon problems.
Not so fast, says Allan McGuire, managing principal at the architectural firm. He says his company designed Latta Pavilion to meet the Charlotte-Mecklenburg building codes, and it was constructed accordingly. "Nothing is unique about the Latta Pavilion system that would allow it to contain radon over other systems we have done."
Fong says he's unaware of any similar problem in a building in Charlotte. He's seen a few cases of high readings in buildings in Gastonia and Cherryville where soil conditions are more conducive to creating radon emissions.
McGuire says Grubb is ultimately responsible for delivering a safe building.
Rodgers Builders executives did not return calls.
"It's a weird, perfect storm of strange occurrences that are causing this," says Sandy Kindbom, who heads the uptown office of Allen Tate Realtors. Tate is the primary sales representative for Latta Pavilion and 1315 East Blvd., which was converted to condos from apartments in 2005.
Caught up in that storm are condo owners such as Brian Cowman, who moved into his $370,000 Latta Pavilion unit a couple of months ago, before the radon issue came to light.
Cowman says he's not concerned about the short-term health impact. He is worried about the potential damage to the value of his unit. "If you have place one and place two and there is an issue at one, you are going to choose place two."
There are currently 22 units in Latta Pavilion and the adjacent 1315 East Blvd. building listed for sale on the Multiple Listing Service, with prices ranging from $194,000 for a one-bedroom unit to $610,000 for a two-bedroom penthouse.
While residents do have a justifiable concern about resale values, North Carolina is a "buyer beware" state, says Thomas Miller, general counsel for the N.C. Real Estate Commission in Raleigh.
The state's real estate license law imposes upon real estate agents the duty to disclose material facts about the properties they list. But those rules do not apply to the seller.
Next: Still selling
Lynnsy Logue, The Real Estate Lady and CondoCanDo, Charlotte, NC
Chapter Two. Now you See It, Now You Don’t…
This may require several parts but I feel compelled to talk about what I have read and ultimately who I will talk to about this and what links I can provide you the reader, the listener, the real estate consumer. This is serious. It is Radon. I think I will simply publish the whole story as it appeared in the Business Journal. I have been waiting for a follow up from someone…a newspaper, a radio report, a television, but nothing as of this date.I am going to put this on my blog as well. And will do my best to follow this through. This addresses my core concern…public health, public safety, consumer awareness.I will present the whole article as it appeared on February 22, 2008. Counting this, here will be five parts:
1.Latta Pavilion Is Sick
2.Taking Measure
3.Solving The Problem
4.Still Selling
5.Getting a Read on Radon
Here goes:
Solving the problem
Grubb is involved in a mediation process with Rodgers Builders, the executive board of the Latta Pavilion Condominium Owners Association Inc. and the project's designer, Charlotte-based FMK Architects.
"We have consulted with numerous experts and coordinated professional tests of many units as well as overall airflow in the building," the homeowners association said in a statement sent to the Charlotte Business Journal this week. "Based on what the experts tell us, we believe the primary problem is insufficient airflow between the units and the outside environment."
Association member Buck Lawrimore, owner of a communications firm who is acting as the group's spokesman, declines to comment on the issue.
In the written statement, the association says it's working with Grubb and Rodgers Builders to find a solution. So far, the focus is on installing fans that would funnel the gas out of the building. The cost: $5,000 per unit, or $1.3 million.
Grubb pledges that tenants won't bear any of the expense, but it's not clear who will.
Grubb believes a faulty ventilation system designed by FMK is the cause of the radon problems.
Not so fast, says Allan McGuire, managing principal at the architectural firm. He says his company designed Latta Pavilion to meet the Charlotte-Mecklenburg building codes, and it was constructed accordingly. "Nothing is unique about the Latta Pavilion system that would allow it to contain radon over other systems we have done."
Fong says he's unaware of any similar problem in a building in Charlotte. He's seen a few cases of high readings in buildings in Gastonia and Cherryville where soil conditions are more conducive to creating radon emissions.
McGuire says Grubb is ultimately responsible for delivering a safe building.
Rodgers Builders executives did not return calls.
"It's a weird, perfect storm of strange occurrences that are causing this," says Sandy Kindbom, who heads the uptown office of Allen Tate Realtors. Tate is the primary sales representative for Latta Pavilion and 1315 East Blvd., which was converted to condos from apartments in 2005.
Caught up in that storm are condo owners such as Brian Cowman, who moved into his $370,000 Latta Pavilion unit a couple of months ago, before the radon issue came to light.
Cowman says he's not concerned about the short-term health impact. He is worried about the potential damage to the value of his unit. "If you have place one and place two and there is an issue at one, you are going to choose place two."
There are currently 22 units in Latta Pavilion and the adjacent 1315 East Blvd. building listed for sale on the Multiple Listing Service, with prices ranging from $194,000 for a one-bedroom unit to $610,000 for a two-bedroom penthouse.
While residents do have a justifiable concern about resale values, North Carolina is a "buyer beware" state, says Thomas Miller, general counsel for the N.C. Real Estate Commission in Raleigh.
The state's real estate license law imposes upon real estate agents the duty to disclose material facts about the properties they list. But those rules do not apply to the seller.
Next: Still selling
Latta Pavilion Is Sick. Taking Measure
March 20, 2008
Lynnsy Logue, The Real Estate Lady and CondoCanDo, Charlotte, NC
Chapter Two. Now you See It, Now You Don’t…This may require several parts but I feel compelled to talk about what I have read and ultimately who I will talk to about this and what links I can provide you the reader, the listener, the real estate consumer. This is serious. It is Radon. I think I will simply publish the whole story as it appeared in the Business Journal. I have been waiting for a follow up from someone…a newspaper, a radio report, a television, but nothing as of this date.I am going to put this on my blog as well. And will do my best to follow this through. This addresses my core concern…public health, public safety, consumer awareness.I will present the whole article as it appeared in the Business Journal on February 22, 2008. Counting this, here will be five parts:
1.Latta Pavilion Is Sick
2.Taking Measure
3.Solving The Problem
4.Still Selling
5.Getting a Read on Radon
Here goes:Taking measure
Grubb forwarded the results to contractor Rodgers Builders Inc., the original Latta Pavilion contractor.
Bill Brodhead, president of Riegelsville, Pa.-based radon-mitigation service WPB Enterprises, was brought in by Rodgers to analyze the severity of the problem and to help find a cure. "We know there is a situation there. I can't answer who, where or when."
Because of local soil conditions, Charlotte is not a typical candidate for high levels of radon, a radioactive gas and carcinogen formed in the rock and soil from the breakdown of uranium. It occurs naturally and can be found in low levels almost everywhere.
The gas can also come from building materials such as concrete or stone fireplaces.
Brodhead found radon readings in Latta Pavilion units ranging from 5 to 10 picocuries per liter, the unit of measurement that quantifies radioactive particles. The EPA says radon is dangerous in the home at 4 picocuries per liter.
He sent the results to Felix Fong, radon program manager for the N.C. Department of Environment and Natural Resources' division of radiation protection in Raleigh, because the readings seemed to defy explanation. Radon typically pools in the lower level of a building because it seeps up from the ground. At Latta Pavilion, some of the highest readings were on the top floors.
Fong's explanation: The radon could be generated from the building materials inside the units. Radon is typically concentrated in areas with lots of granite, shale and phosphate in the soil. So building materials such as concrete or stone that originated from an area where radon occurs naturally at high levels would be a possible source.
If the radon in Latta Pavilion is coming primarily from building materials, Fong says the fix will not be easy. "Radon is a mysterious thing. It can slip in any crack or hole of a house."
Not so mysterious is the need to find a fix -- and someone to pay for it.
In a unit where the level of radon measures 8 picocuries, the chance for that resident to develop lung cancer is 14 out of 1,000, Fong estimates. By comparison, a pack-a-day smoker faces a 50 in 1,000 chance of developing lung cancer. Next: Solving The Problem
Lynnsy Logue, The Real Estate Lady and CondoCanDo, Charlotte, NC
Chapter Two. Now you See It, Now You Don’t…This may require several parts but I feel compelled to talk about what I have read and ultimately who I will talk to about this and what links I can provide you the reader, the listener, the real estate consumer. This is serious. It is Radon. I think I will simply publish the whole story as it appeared in the Business Journal. I have been waiting for a follow up from someone…a newspaper, a radio report, a television, but nothing as of this date.I am going to put this on my blog as well. And will do my best to follow this through. This addresses my core concern…public health, public safety, consumer awareness.I will present the whole article as it appeared in the Business Journal on February 22, 2008. Counting this, here will be five parts:
1.Latta Pavilion Is Sick
2.Taking Measure
3.Solving The Problem
4.Still Selling
5.Getting a Read on Radon
Here goes:Taking measure
Grubb forwarded the results to contractor Rodgers Builders Inc., the original Latta Pavilion contractor.
Bill Brodhead, president of Riegelsville, Pa.-based radon-mitigation service WPB Enterprises, was brought in by Rodgers to analyze the severity of the problem and to help find a cure. "We know there is a situation there. I can't answer who, where or when."
Because of local soil conditions, Charlotte is not a typical candidate for high levels of radon, a radioactive gas and carcinogen formed in the rock and soil from the breakdown of uranium. It occurs naturally and can be found in low levels almost everywhere.
The gas can also come from building materials such as concrete or stone fireplaces.
Brodhead found radon readings in Latta Pavilion units ranging from 5 to 10 picocuries per liter, the unit of measurement that quantifies radioactive particles. The EPA says radon is dangerous in the home at 4 picocuries per liter.
He sent the results to Felix Fong, radon program manager for the N.C. Department of Environment and Natural Resources' division of radiation protection in Raleigh, because the readings seemed to defy explanation. Radon typically pools in the lower level of a building because it seeps up from the ground. At Latta Pavilion, some of the highest readings were on the top floors.
Fong's explanation: The radon could be generated from the building materials inside the units. Radon is typically concentrated in areas with lots of granite, shale and phosphate in the soil. So building materials such as concrete or stone that originated from an area where radon occurs naturally at high levels would be a possible source.
If the radon in Latta Pavilion is coming primarily from building materials, Fong says the fix will not be easy. "Radon is a mysterious thing. It can slip in any crack or hole of a house."
Not so mysterious is the need to find a fix -- and someone to pay for it.
In a unit where the level of radon measures 8 picocuries, the chance for that resident to develop lung cancer is 14 out of 1,000, Fong estimates. By comparison, a pack-a-day smoker faces a 50 in 1,000 chance of developing lung cancer. Next: Solving The Problem
Latta Pavilion Is Sick
March 19, 2008
Lynnsy Logue, The Real Estate Lady and CondoCanDo, Charlotte, NC
Chapter Two. Now you See It, Now You Don’t…This may require several parts but I feel compelled to talk about what I have read and ultimately who I will talk to about this and what links I can provide you the reader, the listener, the real estate consumer. This is serious. It is Radon. I think I will simply publish the whole story as it appeared in the Business Journal. I have been waiting for a follow up from someone…a newspaper, a radio report, a television, but nothing as of this date.I am going to put this on my blog as well. And will do my best to follow this through. This addresses my core concern…public health, public safety, consumer awareness.I will present the whole article as it appeared on February 22, 2008. Counting this, there will be five parts:
1.Latta Pavilion Is Sick
2.Taking Measure
3.Solving The Problem
4.Still Selling
5.Getting a Read on Radon
And as there is follow up, it will be posted here.
Here goes:Latta Pavilion is sick.
A colorless, odorless and potentially lethal gas has invaded the high-profile Dilworth complex, which is populated by condo owners, office workers, shoppers and two medical practices.
And while Latta Pavilion developer Grubb Properties Inc. promises to clean up the radon that is coursing through the building at levels at least twice what is considered safe, there's still a question about what exactly is causing the problem.
Getting rid of the gas is not going to be easy. Neither will be deciding who is ultimately responsible. And for owners of condos in the six-year-old building, the question isn't just how their property values are going to be affected. There's also concern about how long they've been exposed to the gas, which the Environmental Protection Agency says is the second-leading cause of lung cancer behind smoking.
The level of radon found at Latta Pavilion is anything but typical for Charlotte, which was precisely why it had gone undetected. No one was looking.
Charlotte developer Clay Grubb, president of Grubb Properties, says he got the call regarding high radon readings at Latta Pavilion, which includes the 1315 East Blvd. condo building, just before the holidays.
"At first, we didn't believe it," he says.
The company had sold more than 250 condos in the complex since it opened in 2002. None of the buyers had tested for radon. Neither had any of the office or retail tenants that occupy the first two floors of the building at East Boulevard and Scott Avenue.
It wasn't until a potential corporate client inquired about a condo that radon was on anyone's checklist. The company is based in the Northeast, where radon testing is part of the normal real estate purchase process.
The company's testing found radon. Lots of it.
Coming Up: Taking Measure.
Lynnsy Logue, The Real Estate Lady and CondoCanDo, Charlotte, NC
Chapter Two. Now you See It, Now You Don’t…This may require several parts but I feel compelled to talk about what I have read and ultimately who I will talk to about this and what links I can provide you the reader, the listener, the real estate consumer. This is serious. It is Radon. I think I will simply publish the whole story as it appeared in the Business Journal. I have been waiting for a follow up from someone…a newspaper, a radio report, a television, but nothing as of this date.I am going to put this on my blog as well. And will do my best to follow this through. This addresses my core concern…public health, public safety, consumer awareness.I will present the whole article as it appeared on February 22, 2008. Counting this, there will be five parts:
1.Latta Pavilion Is Sick
2.Taking Measure
3.Solving The Problem
4.Still Selling
5.Getting a Read on Radon
And as there is follow up, it will be posted here.
Here goes:Latta Pavilion is sick.
A colorless, odorless and potentially lethal gas has invaded the high-profile Dilworth complex, which is populated by condo owners, office workers, shoppers and two medical practices.
And while Latta Pavilion developer Grubb Properties Inc. promises to clean up the radon that is coursing through the building at levels at least twice what is considered safe, there's still a question about what exactly is causing the problem.
Getting rid of the gas is not going to be easy. Neither will be deciding who is ultimately responsible. And for owners of condos in the six-year-old building, the question isn't just how their property values are going to be affected. There's also concern about how long they've been exposed to the gas, which the Environmental Protection Agency says is the second-leading cause of lung cancer behind smoking.
The level of radon found at Latta Pavilion is anything but typical for Charlotte, which was precisely why it had gone undetected. No one was looking.
Charlotte developer Clay Grubb, president of Grubb Properties, says he got the call regarding high radon readings at Latta Pavilion, which includes the 1315 East Blvd. condo building, just before the holidays.
"At first, we didn't believe it," he says.
The company had sold more than 250 condos in the complex since it opened in 2002. None of the buyers had tested for radon. Neither had any of the office or retail tenants that occupy the first two floors of the building at East Boulevard and Scott Avenue.
It wasn't until a potential corporate client inquired about a condo that radon was on anyone's checklist. The company is based in the Northeast, where radon testing is part of the normal real estate purchase process.
The company's testing found radon. Lots of it.
Coming Up: Taking Measure.
Now You See It, Now You Don't...
March 18, 2008
Lynnsy Logue, The Real Estate Lady® and Condo CanDo®, Charlotte, NC
Now you see it, now you don’t…
People ask me if I specialize in condominiums and I usually answer that I specialize in my clients. Years ago, when condos seemed to have a less than desirable reputation, when other real estate brokers didn’t care for that niche in the market, I decided that if no one else wanted it, I did. Funny thing, those condo buyers of sometimes small one bedroom condos or the room mate condos (two bedrooms, two baths) went on to buy their first homes, their second homes, their lake houses and well, you get my drift.So I learned to look at condominiums and town homes with a different set of eyes, a special measure to where there might be a problem. Or problems.For instance: Windows. Windows with broken seals. Windows that leak. Broken windows. Windows that need replacing and the association will accrue funds to do that and spend a lot of time talking about it. Windows. Whose responsibility are they in a condominium? It is written in the documents. Except for the part where the replacement is being discussed, the project is forthcoming, the details have yet to be hammered out, but the new buyer was never told and now there is an assessment for the windows. And only a short time after closing. Hmmm?
Water. Did you know that one of the most recurring problems with condos especially while under construction is water? If the pipes leak between the walls, in the ceiling, in the basement, in the attic, or after the last closing in the garage and in the footings? How do you know there was/is a problem? Whose responsibility is it? Remember in a condo, you own the air space. Documents? Read carefully.
This is another good one. If a town home community has four units attached to each other and three of the units have termite bonds…well, how effective is that? Is there anything in the governing documents that says a termite bond is a requirement?
This is a recent one. A high-rise with 40 units with average prices of 500,000 up and five stories is approaching 14 years old and maintenance problems are becoming larger…40 people are maintaining a mid-rise…How about a four story, ten units condo in Uptown Charlotte. Even with big bucks, long term, grab your calculator. Factor in maintenance.
The biggest and most fascinating mystery to me is Radon on the upper floors of a relatively new condominium in Dilworth. Catch it on the next installment.
Lynnsy Logue, The Real Estate Lady® and CondoCanDo®, Charlotte, NC
Registered Servicemarks 1989
Lynnsy Logue, The Real Estate Lady® and Condo CanDo®, Charlotte, NC
Now you see it, now you don’t…
People ask me if I specialize in condominiums and I usually answer that I specialize in my clients. Years ago, when condos seemed to have a less than desirable reputation, when other real estate brokers didn’t care for that niche in the market, I decided that if no one else wanted it, I did. Funny thing, those condo buyers of sometimes small one bedroom condos or the room mate condos (two bedrooms, two baths) went on to buy their first homes, their second homes, their lake houses and well, you get my drift.So I learned to look at condominiums and town homes with a different set of eyes, a special measure to where there might be a problem. Or problems.For instance: Windows. Windows with broken seals. Windows that leak. Broken windows. Windows that need replacing and the association will accrue funds to do that and spend a lot of time talking about it. Windows. Whose responsibility are they in a condominium? It is written in the documents. Except for the part where the replacement is being discussed, the project is forthcoming, the details have yet to be hammered out, but the new buyer was never told and now there is an assessment for the windows. And only a short time after closing. Hmmm?
Water. Did you know that one of the most recurring problems with condos especially while under construction is water? If the pipes leak between the walls, in the ceiling, in the basement, in the attic, or after the last closing in the garage and in the footings? How do you know there was/is a problem? Whose responsibility is it? Remember in a condo, you own the air space. Documents? Read carefully.
This is another good one. If a town home community has four units attached to each other and three of the units have termite bonds…well, how effective is that? Is there anything in the governing documents that says a termite bond is a requirement?
This is a recent one. A high-rise with 40 units with average prices of 500,000 up and five stories is approaching 14 years old and maintenance problems are becoming larger…40 people are maintaining a mid-rise…How about a four story, ten units condo in Uptown Charlotte. Even with big bucks, long term, grab your calculator. Factor in maintenance.
The biggest and most fascinating mystery to me is Radon on the upper floors of a relatively new condominium in Dilworth. Catch it on the next installment.
Lynnsy Logue, The Real Estate Lady® and CondoCanDo®, Charlotte, NC
Registered Servicemarks 1989
March. In Like A Lion, Out Like A Lamb?
March 17, 2008
Lynnsy Logue, The Real Estate Lady® and Condo CanDo®, Charlotte, NC
March. In like a Lion out like a lamb. ..
Sometimes, I feel compelled to speak out about what I see and hear. Sometimes,
I think being quiet and patient is more peaceful, but more and more I am learning
that faster is not necessarily better, skipping up the steps is not always prudent and
being as thorough as one can be is probably old fashioned. But as I approach my
70th year, I feel an obligation if only to myself to have conversations with myself
about this real estate business. Because while I never said when I was a little girl
that I wanted to be a real estate broker, it has been the perfect vocation for me in
this city I love so well and have for so long.
What are we thinking? For decades it was a requirement to have a termite
inspection. Once I helped a buyer with a two bedroom condominium downtown in The Poplar on the fifth floor. Their mortgage company required a termite letter.
Today, many of the lenders do not require a termite inspection for condominium, town home or single family home. Nothing. ln this city of trees with our usually high water table, termites must gather monthly to laugh and buzz over this latest non-requirement
as they munch away on walls of homes built on slabs, the crawl spaces in older and newer homes, the garages, the thresholds and on. I think having a termite inspector at the home with the structural inspector was one of the best protocols we used to follow. And many of us still do. Regardless.
Cheaper. Better. Faster. I have lived in my home for over four decades and
maintenance is like rearing twins. It is a full time job. Painting and cleaning, and
caulking and repairing wooden siding and wooden deck and wooden ramp. I
know sometimes I wished I would have taken the leap and paid $15 a month
more for all brick. ..but as a woman, I was lucky to get a mortgage at all. I might
have looked twice at vinyl, but even then, only twice. Now I see instances where
wind damage is greater, fire damage is more prevalent because of smaller, closer homesites. The latest wrinkle I learned from a super on a construction site: a home is wrapped thoroughly, the vinyl is installed and the pocket between the wrap and the vinyl can retain moisture. Sound healthy? Insert wheezing and coughing here.
And while crawling around in crawl spaces with the mold guys, I learned that the
up and coming thing might be to have a sealed crawl space without vents, no air, no
light, and a sump-pump...this new theory is probably based on the dollar. It is not
based on a simple theory of fresh air. That is my septuagenarian belief.
Lynnsy Logue, The Real Estate Lady® and Condo CanDo®, Charlotte, NC
Lynnsy Logue, The Real Estate Lady® and Condo CanDo®, Charlotte, NC
March. In like a Lion out like a lamb. ..
Sometimes, I feel compelled to speak out about what I see and hear. Sometimes,
I think being quiet and patient is more peaceful, but more and more I am learning
that faster is not necessarily better, skipping up the steps is not always prudent and
being as thorough as one can be is probably old fashioned. But as I approach my
70th year, I feel an obligation if only to myself to have conversations with myself
about this real estate business. Because while I never said when I was a little girl
that I wanted to be a real estate broker, it has been the perfect vocation for me in
this city I love so well and have for so long.
What are we thinking? For decades it was a requirement to have a termite
inspection. Once I helped a buyer with a two bedroom condominium downtown in The Poplar on the fifth floor. Their mortgage company required a termite letter.
Today, many of the lenders do not require a termite inspection for condominium, town home or single family home. Nothing. ln this city of trees with our usually high water table, termites must gather monthly to laugh and buzz over this latest non-requirement
as they munch away on walls of homes built on slabs, the crawl spaces in older and newer homes, the garages, the thresholds and on. I think having a termite inspector at the home with the structural inspector was one of the best protocols we used to follow. And many of us still do. Regardless.
Cheaper. Better. Faster. I have lived in my home for over four decades and
maintenance is like rearing twins. It is a full time job. Painting and cleaning, and
caulking and repairing wooden siding and wooden deck and wooden ramp. I
know sometimes I wished I would have taken the leap and paid $15 a month
more for all brick. ..but as a woman, I was lucky to get a mortgage at all. I might
have looked twice at vinyl, but even then, only twice. Now I see instances where
wind damage is greater, fire damage is more prevalent because of smaller, closer homesites. The latest wrinkle I learned from a super on a construction site: a home is wrapped thoroughly, the vinyl is installed and the pocket between the wrap and the vinyl can retain moisture. Sound healthy? Insert wheezing and coughing here.
And while crawling around in crawl spaces with the mold guys, I learned that the
up and coming thing might be to have a sealed crawl space without vents, no air, no
light, and a sump-pump...this new theory is probably based on the dollar. It is not
based on a simple theory of fresh air. That is my septuagenarian belief.
Lynnsy Logue, The Real Estate Lady® and Condo CanDo®, Charlotte, NC
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