Chinese Drywall

[Dan Harris]

I haven't heard much about chinese drywall lately, and haven't been asked about it in a few weeks. I search for info about it every few weeks, and thought this info. was interesting. Page Title (http://www.chinesedrywall.com/RecentNews.html)

[Darrel Hood]

I have an investor client who flips homes. She has bought five homes with Chinese drywall. Like foundation cracks, people are more afraid of the condition than it warrants. Therefore, the price reduction for the home is many times more than the cost to correct the conditions. Her most recent acquisition was a home that normally appraises for $240 K. She bought it for $106K and paid $35,000 to repair/rehab.

Darrel Hood
DILIGENT PROPERTY SERVICES

[Garry Sorrells]

I have an investor client who flips homes. She has bought five homes with Chinese drywall. Like foundation cracks, people are more afraid of the condition than it warrants. Therefore, the price reduction for the home is many times more than the cost to correct the conditions. Her most recent acquisition was a home that normally appraises for $240 K. She bought it for $106K and paid $35,000 to repair/rehab.

Darrel Hood
DILIGENT PROPERTY SERVICES


Do you mean she ripped all drywall out and replaced it?

[Darrel Hood]

Replacement of affected drywall and copper.

Darrel Hood
DILIGENT PROPERTY SERVICES

[Michael Thomas]

More news on the Lowes class action suit:

http://www.drywallsettlement.info/assets/Vereen%20_Amended%20Detailed_Notice_-_EBG_%20March%2028%202011%20(v2).pdf