House Matters Real Estate Blog

Land O' Lakes / Lutz Commercial Updates

2009-11-06T18:45:00.000-05:00

There are a couple of changes and updates in the Pasco County area.

Let's start with the opening of the new Wal-Mart in Lutz. It's located in the apex of 41 and Dale Mabry and officially opened Wednesday. This new Super Wal-Mart will take take over for the old Wal-Mart located on SR 54.

Also, driving down SR 54 in Land O' Lakes you may notice construction has started for the new T. Rowe Price building across from the new Publix. The land is being leveled and prepped for construction and a sign is posted for the future T. Rowe Price building.

A little further down SR 54 in Trinity, construction is still moving along for the new hospital at Little Road. The steel framing is now up on all five stories. Construction began in June of 2006 and is expected to be completed in late 2011. The main hospital is planned to be 400,000+ square feet with 236 private beds. There is also a three story 90,000 square foot medical office building planned.

All three of these projects have great benefits for the Pasco area in providing more jobs and housing needs.

Information compiled with assistance from Prudential Commercial Real Estate. All information acquired through public sources and subject to change.

Upcoming Tampa Bay Events

2009-10-19T16:08:00.001-04:00

Finally, the heat is gone and Fall has is upon us. Are you looking for a reason to get out of the house? Check out these upcoming events:

10/22 - 10/25 Zoo Boo @ Lowry Park Zoo
10/23 - 10/25 Tampa Bay International Auto Show @ the Convention Center
10/24    Sinbad @ Tampa Performing Arts Center
10/25              Gothic Graveyard Walk @ Oaklawn Cemetary
10/27 - 11/1    In The Heights @ Tampa Performing Arts Center
10/28              Hyde Park Jazz in Hyde Park

10/29    Halloween Ghost Ship @ Channelside (7:30pm)
10/31    Halloween Ghost Ship Spooktacular for kids (2pm)
10/31              All Hallow's Masquerade Ball @ the Convention Center
10/31              Fall-O-Ween @ Lowry Park Bandshell
10/31              Guavaween 2009 in Ybor City
10/31              Guavaween Family Fun Fest @ Centennial Park (10am - 3pm)

Every Friday    Downtown Market (closed for Thanksgiving)
Every Saturday Ybor City market

Enjoy the great weather before the heat and humidity come back to haunt us.

Using online maps to find your new home

2009-10-17T12:32:00.000-04:00

In Tampa, we have a lot of out-of-state buyers that typically don't have a lot of time to visit homes when they come to town. By using online maps to find your new home you see the terrain, photos of the area, satellite images, traffic and all sorts of other information without even starting the car.
Google Map has a great feature called street view. With street view it's like you're driving through the neighborhood yourself. You can take a virtual drive to see how well the other homes are kept up and the curb appeal of the home that you're interested in. The photos for street view are taken from a special rotating camera placed on top of a car and driven through the area.
Bing's map has a couple features that I really like. The first is the bird's eye view which is made of aerial photos taken from four angles. The photos which make up the bird's eye view are typically taken at different times of the year which allows you to get an idea of how the home looks like during different seasons. The other great feature with Bing is their use of labels. You can have different services, such as hospitals, restaurants and apartments, labeled on the map. This is a great option if you need your next home to be close to a hospital or library.
Using online maps to look at the homes suggested by a local REALTOR will save you time and gas.

Guys in drag? It was all for a good cause.

2009-10-11T21:39:00.002-04:00

Saturday, a very serious subject was turned into a comical event. It was the second annual University Community Hospital Foundation's Heros N Heels walk for cancer. The proceeds from this walk go toward supplying mammograms to women that can't otherwise afford them. Every $100 raised supplies 1 mammogram. The money raised from last year's walk helped diagnose four women who had breast cancer last year.

The walk is a 1 mile course around University Community Hospital in which all walkers must wear heels. Oh, I forgot to mention that all the walkers are men. At the end of the enduring and comical walk, are awards for "best legs" and "most creative outfit". I must admit, all the men were very good sports with some just wearing sensible heels with their regular attire and others going all out. My broker, Russ, happened to be one that went all out (with a little help from his agents). It's great to find people who will do anything for a good cause.

Pasco considers parking fines for blocking sidewalks

2009-10-09T18:14:00.000-04:00

The Pasco County Commissioners are considering imposing parking fines for any cars blocking a portion of a sidewalk. This includes parking in your own driveway. The fine being considered is $15 for the first offense and $30 for future offenses.

I understand the reasons behind the suggested amendment; however, what if someone wishes to have a gathering at their house? You will get ticketed for parking in the road so you try to fit all the cars you can in your driveway. These cars will of course be blocking the sidewalk. What is a person to do?

The proposed amendment comes back for a final hearing on November 3.

For more info please read the article published by the St. Pete Times.

Changes coming to Pasco County

2009-09-24T14:42:00.000-04:00

Not long ago the Lutz/Land O' Lakes area saw the opening of two new malls and a new Super Target. Now even more changes are on the horizon for the area.

A new building has popped up in the apex between 41 and Dale Mabry near county line road in Lutz. This new building will eventually sport the Wal-Mart logo. Most of the exterior of the building is complete with work taking place on the parking lot, road work for entrances and the interior.

Parents of Wiregrass High School or John Long Middle School students are especially thankful for the new SR 56 extension. The extension is now open and continues SR 56 past Wiregrass Mall to allow for a second entrance to Wiregrass HS and John Long Middle.

Word on the street is that Wesley Chapel is expected see more big changes coming over the next few years. The first should be the expansion of Bruce B. Downs Blvd from two to four lanes between SR 56 and SR 54. This will allow access for the new Wesley Chapel Hospital which is rumored to start at the end of the year. Another big project in the works is The Plex, a 470,000 sq. ft. sports and entertainment complex planned adjacent to The Grove. The Plex is expected to start in the winter of 2010 and bring approximately 250 new full time jobs to the area. Once completed, The Plex will include 3 hockey rinks, 36 bowling lanes, an indoor water park, laser tag and rock climbing.

As a Tampa native, I have see Land O' Lakes grow from the swamps while New Tampa/Wesley Chapel emerged from orange groves and cow pastures. It'll be interesting to see how Lutz, Land O' Lakes and Wesley Chapel develop over the next few years.

List compiled with assistance from Prudential Commercial Real Estate.

Cypress Creek Mall... On Again!

2009-09-17T00:10:00.001-04:00

It appears that we may see the bulldozers again at the Cypress Creek Mall site in Lutz. Construction was halted in February 2008 when the developer's wetlands permit was suspended for releasing turbid stormwater into Cypress Creek, nearby wetlands and stormwater retention ponds on the site. In a September 3rd statement, The Army Corp of Engineers announced that their investigation determined this to have been human error rather than the design of the project.

With the explosive population increase in Land O' Lakes and Wesley Chapel, the mall will bring much needed jobs and revenue to the area. Once completed, the mall is expected to create almost 4,000 jobs, an annual revenue of $6 million for Pasco County and $2.4 million for the Pasco County school system.

For more information on the project read this article from the Tampa Bay Business Journal.

Builders are still building? Who would possibly buy from them?

2009-09-14T15:31:00.004-04:00

Believe it or not, builders are still building through out Tampa, Brandon, Land O' Lakes and Wesley Chapel. Not only are they still building spec homes but there are buyers that are having homes built from the ground up! Why would a buyer possibly what to have a home built rather than buy a "used" home on the market? There are plenty of reasons, some personal and some financially driven.

On the personal side, some people just like the idea that they can add their own little touches such as tile/carpet color, cabinet style, etc and even pick which lot the home will be built on. Some buyers also like the thought that they are the first ones to live in the home.

Financially speaking, the builders are offering killer incentives here in the Tampa Bay area. They are offering things such as pricing incentives, appliance packages, design center upgrades and even free pools. Some buyers are asking themselves, "why should I buy a pre-foreclosure that needs repairs when I could buy new for just a little more?". Also, with the $8,000 tax credit it's getting too late to buy some of the pre-foreclosure properties. The tax credit deadline could expire before the home closes.

Whether to buy new or save a little and buy a resale home is a personal preference that each buyer has to decide for themselves. Once you do make that decision be sure to find a good REALTOR that knows the area and can help you determine which community would work best for you. With so many builders and opportunities throughout Tampa Bay you also want to ensure that you're getting the best incentives on the market. It doesn't cost you any more to bring a REALTOR with you, it could actually cost you less.

Clarifing the Tax Credit

2009-09-08T10:58:00.005-04:00

I have heard from a lot of people with questions regarding the "$8k Tax Credit" and there appear to be many misconceptions.

First, let's look at the total amount that is available. While we tend to refer to it as an $8k credit, it is actually up to $8k. The credit is 10 percent of the purchase price of the home, up to $8k. So, if you qualify and you purchase a $70k home then you would actually only receive $7k.

Regardless of what you've heard, this is not only available to first time home buyers. It is intended for anyone who hasn't owned a home for the last three years. If you are married and your spouse owns a home or if you have co-signed for a home, you may not qualify.

Also, to keep the credit, homeowners must use the home as their primary residence for three years.

The credit is phased out for single filers with a modified gross adjusted income of more than $75,000 a year and married couples filing jointly with incomes above $150,000.

One of the most important things to remember at this time is that the puchase must occur before December 1, 2009.

To see if you qualify please consult your tax advisor or you can visit www.irs.gov.

$8,000 Tax Credit for Down Payment

2009-09-01T08:30:00.004-04:00

The deadline for the $8,000 tax credit is quickly approaching and the state has approved doing short term loans so that the tax credit can be used for your down payment but where is the money?

While the state has approved doing the short term loans, each county is responsible for managing the money that's been allocated for these loans. The problem is that each individual county must set up guidelines for loaning the money as well as for collecting the money at the end of the loan. This has been a slow process that most counties haven't yet completed. Since each county will have different guidelines it is also imperative that a homebuyer select their desired county to live in early in the process.

One set of guidelines that we have been given is for Pasco County. In order to qualify for the "Florida Homebuyer Opportunity Program" the homebuyer must first take a Homebuyers Class prior to signing a contract. Once a contract is signed the buyer must go through the approval process with a lender then they must be approved by the county. After approval by the county, it will take five days to receive a check. Because of all these steps it will be a lengthy process from start to finish.

The problem with the delay in setting up these guidelines and the lengthy process in the guidelines which have been established is that the deadline to purchase is quickly approaching. A homebuyer only has three months in which to go through a Homebuyers Class, find a home, apply for a mortgage, wait for the lender's approval and then to apply for the county money. That's assuming that you're considering purchasing in a county which has already set up the guidelines.

Where are the deals?

2009-08-30T20:30:00.000-04:00

Where have all the great real estate deals gone? If you've listened to the news you would think the sky has fallen and everything is a blue light special. There are still deals to be had but you'll have to look a little harder and act quickly.

Depending upon where you are you'll likely find a fair number of "short sales" (pre-foreclosures), bank owned properties and you may even find some regular sales which are great deals.

The advantage of a regular sale is that the buyer and seller can typically come to terms quickly and they can close quickly (30-45 days). There are a lot of properties that are either investor owned or the owner has lived in the property for a number of years and built up equity. In these instances the owner is willing to price the property competitively in order to get them sold quickly.

There has been a lot of talk about bank owned or REO properties recently. These properties are sold off in a several different ways. One of the first ways that the bank attempts to sell the property is through an auction at the courthouse. A novice should not attempt to purchase a property in this manner. If the property doesn't sell at this point then the bank will typically list the property with an REO agent (a real estate agent who specializes in bank owned properties). These properties typically enter the market 10-12% below market value in order to get them sold quickly. Like any other sale, you'll have the opportunity to preview the home and after you go under contract you'll be able to have the home inspected. The down side of bank owned properties is that periodically the lender will have a bidding period during which they will accept multiple offers to see which they would like to accept. Not all bank owned properties are sold in this manner but this is good information to know going into the process.

Of course, there are still lots of "short sales" on the market. These can be great deals if you're willing to wait or you could end up spending a lot of time waiting for nothing. How good of a deal it is depends upon who the lender is and how many lenders are involved. As for the wait, you can expect anywhere from 2 to 6 months for an answer.

You are not the only one that has been listening to all the news about the great deals on the market today. If there is a great deal that hits the market they are being scooped up quickly. Some of the bank owned properties will have several offers on them within the first week. With the affordability of homes and the $8,000 tax credit that is being offered there's starting to be a little feeding frenzy on these below market priced homes.

So what is a home buyer to do? Your best option is to find a good full time REALTOR that will keep up to date with any new properties coming on the market and notify you immediately. Otherwise, you may miss the boat.

Great starter home - $110k

2009-08-27T23:07:00.005-04:00

This property located in the Florida Avenue & Bougainvillea Avenue area has been updated throughout. There are laminate floors throughout most of the home with tile in the wet areas. Both bathrooms have been completely updated. The home features a living room / dining room combination with a separate family room. This is a short sale property and is just waiting for the right buyer.

Tampa Bay Market Update

2009-07-16T15:05:00.002-04:00

We're half way through the year and have had lots of statistics to check out. After scouring over all the stats, there are some encouraging signs out there for the Tampa Bay area. We pull our numbers for the entire area for a better understanding of how our market is affected.

One of the major factors that indicates whether we are in a buyer's market or a seller's market is "Months Supply of Homes". Basically this means that if no more properties come on the market today, how many months would it take to sell off our existing inventory based upon the current rate of sales. Ideally you don't want the leverage to be too heavy for buyers or sellers. In the past few years it's obviously been leaning very much to the buyers advantage. The latest trends have the Tampa Bay market down to a 10.61 month supply of homes. While this seems like a very high number to most, it's fallen from 18.82 in January. It was on a strong decline for the first few months of the year and has tapered off some recently but has still been on a decline every month. This is very encouraging news and hopefully will continue on this same trend.

This doesn't mean we're out of the housing decline by any means. We still have a long way to go and there are indications of another wave of foreclosures on the horizon. All we can do is wait and see at this point and continue watching the numbers to see where we've been and where we're going.

Prudential Tropical Realty turns to Yesner & Boss for legal help

2009-07-02T23:38:00.005-04:00

With short sales and foreclosures making home buying a bit tricky, 15 Tampa Bay offices of Prudential Tropical Realty have signed an agreement with law firm Yesner & Boss to represent clients of the real estate agency.

Financial terms were not disclosed.

The St. Petersburg real estate and bankruptcy law firm will provide corporate counsel for Prudential Tropical offices all over the Tampa Bay region including St. Petersburg, Temple Terrace, Brandon and the Pinellas beaches, according to a release. Realtors will refer clients to the firm who need help with foreclosure defense, short-sale negotiations, asset protection and consumer protection.

“The goal of Yesner & Boss and Prudential Tropical is the same, to help property owners sat in their homes and work their way out of mortgage difficulties to which the current market is subjecting a lot of people,” said Christopher Boss, a partner with Yesner & Boss, in a release.

There are nearly 60,000 homes in foreclosure in Florida, according to Yesner & Boss, and the Tampa Bay region is one of the mostly heavily beset by foreclosures and short sales.

“While there are signs of life flickering in the residential real estate market, it is a long way from flourishing,” Boss said. “And improvement will not be significant until foreclosures return to normal numbers and the backlog of foreclosed properties is cleared. There is, unfortunately, still a lot of work to be done out there.”

Prudential Tropical Realty first opened 50 years ago and now has offices in Pinellas, Hillsborough, Pasco and Hernando counties.

Yesner & Boss was founded in 2004, according to the firm’s Web site, and specializes in real estate, foreclosure defense, bankruptcy, evictions, and corporate planning and probate.

Courtesty of Tampa Bay Business Journel

Now's The Time To Buy... Find Out Why

2009-06-09T14:29:00.002-04:00

You've been hearing that phrase a lot lately, mostly from REALTORS. Well, your banker, Donald Trump and the President have all said it too. Now NY Times Best Selling author, David Bach, explains why this really is the best time to buy.

Smart Homeowners Are Buying Now by David Bach

Update - $8k Tax Credit

2009-06-03T10:32:00.002-04:00

The recently passed $8,000 Tax Credit Down Payment Assistance program passed by the State of Florida seemed doomed when FHA announced that the assistance program could not be used as down payment. The program isn't doomed but FHA has set some guidelines.

You still must have 3.5% of your own funds (or funds gifted from family members) to put toward the down payment. However, the $8,000 tax credit can be used toward closing costs, interest rate buy down or as additional down payment above the 3.5% required. This will still help those individuals who could come up with a portion of the funds needed but couldn't come up with 3.5% AND closing costs. Let's face it, when you're buying your first home you can use all the help you can get.

The Down Payment Assistance program should start some time in July (no definite date has been set yet). Just remember that in order to qualify for the $8,000 tax credit the home must be purchased by December 1, 2009.

New Info on Down Payment Assistance Using $8k Tax Credit

2009-05-30T00:17:00.003-04:00

WASHINGTON – May 29, 2009 – The U.S. Department of Housing and Urban Development (HUD) released more details today about its program to help first-time homebuyers use a tax credit as part of a downpayment.

HUD announced the program on May 12 at the National Association of Realtors® Housing Summit. In the interim, HUD posted an announcement and then immediately took it down, leading to speculation that the program would be pulled. In response, HUD said the rules had simply not been finalized, and the original announcement had been posted in error.

“We’ve been eager for word from the federal government since the new FHA downpayment assistance plan was announced, and even more so after the program details were first published and then quickly pulled,” says John Sebree, FAR vice president of public policy. “Luckily, that turns out to be a minor setback and there will be a federal downpayment program to complement the $30 million we were successful in securing in the Florida budget.”

The most significant change involves the amount of downpayment required by qualified first-time homebuyers. FHA mortgages require a 3.5 percent downpayment, and the $8,000 tax credit cannot be used to override that requirement. Once the 3.5 percent downpayment requirement has been met, however, the tax credit can be applied to additional costs, including a higher downpayment, paying points to lower the mortgage rate, and/or closing costs. Lenders will treat the tax credit money as a second lien on the home until it’s paid back.

“Mortgage industry leaders have indicated that this type of product may not be immediately available to consumers,” says Sebree. Since lenders will oversee the tax credit loan, they must create internal programs to handle the process.

2009 Florida Budget Approved... and Good News For Home Buyers!

2009-05-11T09:49:00.002-04:00

After an extended session, the Florida Legislature has adjourned and approved a $66.5 billion budget.

The budget includes a few positive items for home owners and new home buyers. The highlight is $30.1 million for downpayment assistance programs. Beginning July 1, those who qualify for the federal first-time homebuyers tax credit will be able to apply for downpayment assistance in advance of closing, and then repay the amount borrowed when they get their tax refund. So, even though $30.1 million was added to the budget for this program it will not cost taxpayers a penny!

Another plus for home owners is a reduction in eviction filing fees from $265 to $180. With the current housing market, there are a huge number of rental properties in Land O' Lakes, Lutz, Wesley Chapel and throughout Tampa Bay. A lot of homeowners either are barely breaking even or renting their properties with a loss. This decrease in eviction costs will help homeowners who need to have tenants removed.

Also, passed with the new budget is a constitutional amendment that will ask voters to limit increases in property tax assessments on all non-homestead properties to 5 percent annually, a rate cap for Citizens policyholders of 10% per year and a bill that puts the burden of proving that a property tax assessment is correct on the appraiser, not the property owner.

Chinese Drywall Issues Hit Tampa Bay Area

2009-05-04T13:05:00.004-04:00

While the rest of the world is focused on Swine Flu, Tampa Bay REALTORS are keeping a close eye on the chinese drywall issues. We've just found out about the first case in the Tampa Bay area. It was announced last month that Lennar Corp was named in the class action lawsuit regarding Chinese drywall. It's recently come to our attention that Lennar is currently repairing townhomes in Tarpon Springs which had the defective drywall installed. WFTS news in Tampa recently aired a story about one of the families that Lennar has relocated during the repair process. For the full story you can visit their website.

Land O' Lakes and Wesley Chapel have been hit hard by the real estate market crash. Will they also be a casualty of Chinese drywall? I'll keep you posted as more news comes available.

End of Session Recap

2009-05-01T22:58:00.004-04:00

The Florida House and Senate have completed their 60th day of the 2009 session. While this is the day they should be adjourning, the 2009 regular session of the Florida Legislature has been extended a full week. The purpose of the extension was to allow more time to finalize the budget.

During the regular session there has been a lot accomplished regarding home ownership. We're still waiting for more information to come our way but a few of the highlights are a constitutional amendment that will ask voters to limit increases in property tax assessments on all non-homestead properties, a cap on rate increases for Citizens policyholders and a bill heading to the Governor's office which would put the burden of proving that a property tax assessment in correct on the property appraiser, not the property owner.

As I hear more information I will pass it along to you. In the meantime, we're watching and waiting for the budget to be finalized. It looks good that the $30 million for downpayment assistance to help "front-load" the federal first-time homebuyer tax credit will get approved in the budget. If you're not sure what this is, be sure to check my previous post (Need help with your downpayment?) for more information.

Need help with your downpayment?

2009-04-29T08:47:00.002-04:00

The Florida Senate recently added $55 million in their budget for down payment assistance. The great thing about this, even though they are adding $55 million to the budget it won't actually cost the state a dime.

Their plan is to offer short term loans to home buyers who qualify for the $8,000 tax credit being offered by the federal government. Once the home buyer receives their federal check, they would then repay the loan from the state. This would allow the state to offer assistance without costing tax payers.

I know many first time home buyers in the Tampa Bay area who could make the monthly mortgage payments but simply don't have enough money for the down payment. With home prices dropping and interest rates at an all time low, now would be the perfect time for them to achieve their dream of home ownership. This program would allow them that opportunity. Our only hurdle now is for the House to concur with the Senate position and fund the program.

Now is the time... Time Magazine & Trump agree!

2009-04-18T10:02:00.003-04:00

Time magazine recently posted an article, "Recession Shopping: 10 Things To Buy Right Now" and included along with cars and stocks is housing!

During recent interview with Goodmorning America, Donald Trump was asked about the housing market. Trump's advice today is, "This is a great time to go out and buy a home".

Do you see the trend? With home prices dropping up to 50% in some areas, interest rates at record lows and up to an $8,000 tax incentive for home buyers that haven't owned a home for the last three years, now really is the time to buy. You can find brand new homes in Land O' Lakes, Lutz and Wesley Chapel in the low to mid $100k's and resale homes are even cheaper. It's time to get off the fence and into a home.

Locked In... A New Issue In Our Market.

2009-04-11T11:56:00.000-04:00

A few years ago we were concerned that individuals that had been in their homes for many years and had taken advantage of the homestead exemption and Amendment 10 were locked into their homes because of increasing taxes. Thanks to Gov. Charlie Christ, a solution came about called "Portability" which enabled homeowners to sell their homes and carry their tax savings with them to their new home.

Today we have a similar problem. Homeowners are being locked into their homes because of declining home values. I have been told by several appraisers that if foreclosures are the only thing selling in a community for the past 3 months then that is what they must appraise all the properties on. This process could reduce a home's value by 40-50%. To further hinder the process, lenders are selecting appraisers which may not be from the area. A local appraiser knows exactly what's going on in their market and which communities are similar so that they use them for comparable sales. Regional appraisers will either use only properties from the same community or will use properties from another community that is close in proximity but not similar in style and amenities.

Essentially, this is increasing the number of "short sale" properties on the market. A homeowner may be willing lose the 20-30% equity that they have in their home in order to sell but can't afford to sell once the value has dropped 50%. At that point, their choice is to either stay in the home if they can or to do a "short sale".

Unfortunately, there's not easy solution to this problem. If you are selling your home (and it's not a foreclosure situation), you have the right to write into the contract that a local appraiser must be used. While this doesn't guarantee a good appraisal, it will at least increase your chances.

Add a little humor to your day

2009-04-04T14:15:00.000-04:00

A client bought a new home and the broker wanted to send flowers for the occasion. They arrived at the home and the owner read the card; it said, "Rest In Peace".

The owner was angry and called the florist to complain. After he told the florist of the obvious mistake and how angry he was, the florist said, "Sir, I'm really sorry for the mistake, but rather than getting angry you should imagine this: somewhere there is a funeral taking place today, and they have flowers with a note saying, "Congratulation on your new home".

Always remember, you may have it bad but there is someone else out there that has it worse.

Chinese Drywall Issues

2009-04-02T20:10:00.003-04:00

ORLANDO, Fla. – April 2, 2009 – Drywall imported from China continues to make headlines nationwide, and a growing number of lawsuits have been filed in Florida. In response to the problem, FAR’s Business Forms Forum Task Force is considering a new form that addresses Chinese drywall problems. Task force members are slated to discuss the issue again on April 6.

Attorneys with Higer Lichter Givner, The Blumstein Law Firm and Podhurst Orseck have filed a federal class action lawsuit on behalf of Florida homeowners Janet Morris-Chin and Dajan Green. They’ve targeted Knauf Plasterboard Tianjin Co. Ltd., and the foreign company that distributed that company’s drywall within the United States, Rothchilt International Ltd.

Drywall manufactured in China was used in U.S. homes between 2004 and 2007. According to the lawsuit, toxic chemicals that emanate from the drywall have damaged houses, fixtures and personal property. Members of the class action are also seeking medical monitoring for any adverse effects of prolonged exposure to the toxic chemicals.

“We have filed a national class action because more than 60,000 homes in 13 states are believed to have defective Chinese drywall,” says Victor M. Diaz with Podhurst Orseck. “We anticipate that when the Consumer Products Safety Commission completes its investigation, this product will be recalled across the country. This could be potentially one of the largest product liability cases related to home construction in U.S. history.”

Read More...

Courtesy of Florida Association of Realtors