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Mold stigma

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Restrain

Thread Starter
Elite Member
Joined
Jan 22, 2002
Professional Status
Certified General Appraiser
State
Florida
O.K., I opened my mouth AGAIN. Looking for paired sales for homes that have been repaired for mold, then sold. Trying to find the difference between homes that have had mold contamination (after cleanup) and those that don't.

Yes, I know it's kinda like looking for chicken teeth, but there's got to be something out there. Any help would be appreciated.

Roger
 

Farm Gal

Elite Member
Joined
Jan 14, 2002
Professional Status
Licensed Appraiser
State
Nebraska
Roger:

Did a quick search to see if any of the recently repaired and well publicized homes on our local 'mold street' have resold since they were ALL discovered to have minor to major mold infestation. None of those have (per MLS anyway), and I am not aware of any others with significant PUBLICIZED problems which have sold (or resold!) I am equally sure that withthe rising awareness of mold that SOME have sold, but we as appraisers are unikely to get disclosure or information on others, save throught he media :roll:

I suspect that in the short term, if repairs have been done by 'professionals' and it looks nice on the surface(!) that buyer perception is going to be 'it's fixed'...
At least most buyers at present.
I am equating this type of repair to foundation failure which gets a 'patch' by a professional and the new buyers are happy as a clam! Never mind that the professional has no engineering degree, NOR practical experince to develop an appropriate repair methodology :evil:

I would be very hesitant to take disparate areas and compare to my local market. Buyers and sellers in different markets have VERY different levels of awareness on this matter.

This mold thing hit MY radar well over a year ago, and I correctly predicted that it would gain momentum and become the new and possibly biggest bugaboo to hit us in a long time.

Witness the number of recent articles and rising awareness of the matter on a business (insurance/inspection) level and the amount of news media hysterics to finally reach Average John (Low Q) Public.

Do I recall correctly that you had a "appraising the tough ones-house" that had a severe infestation? Is this query related?
 

Restrain

Thread Starter
Elite Member
Joined
Jan 22, 2002
Professional Status
Certified General Appraiser
State
Florida
Lee Ann:
No, this is another, and worse, property. Original value somewhere around $750,000. Trying to figure out what it's worth now.
 
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