South Lake Tahoe Real Estate Blog

Radon is an odorless, colorless, radioactive case that arises from the decay of naturally occurring minerals in the soil. The gas is linked to 21,000 lung cancer deaths a year, second only to cigarette smoking, according to the EPA.  A report from the California Geological Survey in June 2009 estimated that 23,400 people in the Lake Tahoe area live in buildings where radon is likely to equal or exceed the U.S. Environmental Protection Agency’s recommended action level of 4 picocuries per liter.  The report was based on geological data, as well as results from a survey of 443 homes in South Lake Tahoe between 2006 and 2007.

According to the survey, about 40 percent of homes in the Lake Tahoe area are at or above the EPA’s recommended action level, while approximately 55 percent of homes in the El Dorado County portion of the basin who participated in the survey are at or above the recommended action level.

Winter is a good time to test a home for radon, Huber said.

“It’s the best time to test because your house is closed up,” she said.

I had a recent conversation with Ginger Huber who is in charge of Environmental Health in El Dorado County, and she wanted me to make sure and let you know that she is almost out of the “free” testing kits, but you can get them from the State of California for a nominal fee.  I found this article in a past issue of the Tahoe Daily Tribune and thought you might find the information on radon gas helpful.

As I scan the Internet for information on the current Real Estate Market – I am seeing more encouraging policy changes and proposals that encourage home buyers.  This bit of news was gleaned from the California Association of Realtors.

“The Dept. of Housing and Urban Development (HUD) announced Friday, January 15, that it is instituting a one-year moratorium on the Federal Housing Administration (FHA) 90-day anti-flipping rule.

With certain exceptions, such as HUD-owned and bank-owned properties, FHA currently prohibits insuring a mortgage on a home owned by the seller for less than 90 days. However, beginning Feb. 1, buyers may use FHA-insured financing to purchase properties resold through private developers and investors, providing access to a broader array of recently foreclosed properties.

Under the temporary waiver, all transactions must be arm’s-length, and most properties will require additional documentation of improvements and justification of the price increase. Additional documentation may include a second appraisal and a property inspection ordered by the lender.

C.A.R. recently submitted a letter to FHA Commissioner David Stevens detailing the challenges facing many home buyers using FHA loans, such as the lack of housing inventory available to FHA buyers, and the need for this rule to be revised to reflect current market conditions. The reexamination of the 90-day anti-flipping rule was passed as an action item during C.A.R.’s board of directors meetings in October.”

Thank You C.A.R.