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HI: I have been looking in the Boston-Edison area for a home to fix up. I know some of them are in pretty bad shape. There was an article a few months back about 51 Edison being full of lead paint and the woman was afraid to live there. The lead paint was supposed to be removed. It was for sale for around $18,000. NOw it's for sale for around $350,000. Could they removed the paint that fast or is this a scam? Thank, Sherrie
I did email the agents but I have not heard back.
You do know every house built before the mid 70s is full of lead paint? Basically on every painted surface. I doubt they have removed all the lead paint. Although they probably have remediated it to a point where the house is inhabitable. Unless you rip out all the plaster and remove all the paint from the wood moldings you'll never get rid of all of it. New regulations from the EPA have increased the cost for contractors to work with homes built before the mid 70s
There is also probably Asbestos hidden in the walls and floor tiles. Maybe even some Knob and tube wiring. Thank God they don't make homes like they used too.
Lead paint should be o.k. as long as it's not peeling and it's been painted over.
Knob & tube wiring is also o.k. so long as it's in good condition.
The only asbestos would probably be wrapped around old steam lines or heat ducts. It's o.k. too as long as it's not fraying & airborne. There are covers available to encapsulate those old wrappings.
Quote:
Originally Posted by Jerry Van
I van deal with lead paint and asbestos tout a degree but knob and tube scares the shiddoudame.
Asbestos floor tile [[usually 9" tiles) aren't a hazardous waste. They can be disposed of through normal trash channels. The wrapping covering heat ducts is a different story, that is considered a hazardous waste, supposed to be disposed of in a different manner. However, what you put in a black garbage bag and put in a trash can is a personal decision.Quote:
Originally Posted by ndavies
Well it certainly has been refurbished. But this new listing doesn't provide any details about the updating of the systems. And for this price, I would have expected a re-landscaping of the yard.
http://www.estately.com/listings/info/51-edison-street
Quote:
Congress passed the Residential Lead-Based Paint Hazard Reduction Act of 1992, also known as Title X, to protect families from exposure to lead from paint, dust, and soil. Section 1018 of this law directed HUD and EPA to require the disclosure of known information on lead-based paint and lead-based paint hazards before the sale or lease of most housing built before 1978.
Guideline applies to private sales. There are fines for not complying.
http://portal.hud.gov/hudportal/HUD?...ent/disclosure
Also, the guidelines for RRP [[renovation, repair, painting) work require a certification. It's a pretty low bar to pass, but reinforces the paper trail.
So, if you're actually interested in the property, you can request both the documentation of the lead status of the house, and the documentation on who did the work and whether or not they were certified at the time. If they can't come up with the paperwork, either negotiate down to a price that covers your expense on re-doing it, or walk away. Capitalism in action.
Thanks! I was hoping to pay less than 350000. That's steep increase from 18,000!
I'm sure they didn't remove all the lead, and I'm not sure that woman was entirely rational on that particular subject. Highly unlikely they will get $350K, and unless there is something about that house in particular that you love, just keep looking around. The one coming up for auction on Chicago is attractive if you like that Arts and Crafts [[more-or-less) style. http://buildingdetroit.org/Listing/D...5-Chicago-Blvd
That one is a nice one, but too bad its next to the tacky suburban tract house.Quote:
Originally Posted by mwilbert
That's a beautiful house, to be sure. I love that dark wood look you see in the houses fo that era. Unfortunately though, the pictures show signs of it having been stripped. I wonder how much of the plumbing, heating system, etc. are intact.Quote:
Originally Posted by mwilbert
then you should have bought it before someone put in a new kitchen, bathrooms, patched and painted all the rooms, cleaned it out, and brought it back from the dead.Quote:
Originally Posted by drifterlee
I know it's detroit and that kills value, but really go to any 'burb and see what $55 a square foot buys you.
51 Edison is a fine restoration example. Prices are going up, especially in designated historic districts. The 6000 sq ft claim in the listing is a bit of a stretch though. You might get to that size if you include the basement. But as a 1909 home, it's unlikely to have any finished rooms in the basement.
Not long ago I posted something on another thread about a couple of houses I saw for sale in North Rosedale. They had recently been bought, repaired and were back on the market for sale [[these were not any of the properties the Grandmont-Rosedale association fixes and re-sells). I commented that it was nice to think that someone could do a decent "flip" and make a profit in Detroit, as with the crash of the housing market that was unrealistic for years. It seems to be anecdotal evidence of an improving real estate market.
I'd say the same thing with this house. While I think its priced unrealistically, it would be nice to think that there could be a market for fixing and re-selling some of the many vacant and run down properties in B-E or other areas.
a friend of mine from work lived on Arden. 7 bedrooms, 22 rooms and a fully finished basement in birdseye maple. there was a full width bar in one of the rooms complete with the foot thick laminated cooler on the backside under the "bottle shelf" and huge mirror...Quote:
Originally Posted by swingline
but i think it might be a newer home from 1920...
I always loved those homes. A friend, now deceased, had the second house off the lodge on Chicago blvd. Nobody was told when he died as he had no living family it was a shock his house was beautiful. It had fountain, six bedrooms etc. I would have bought it. It was completely restored.
I have noticed a price increase in those homes from as cheap as $20,000 to over $300,000. I can't believe they are all restored that fast. Why the price jump?