Parkland Parrot

Good News For Parkland Homeowners With Chinese Drywall

Chinese Drywall Settlement Could Cost Chinese Firm 1 Billion

Finally, the end looks near for the Chinese Drywall issue that has hit many states, particularly Parkland and South Florida.  Chinese Drywall manufacturer, Knauf and its Chinese affiliate Knauf Plasterboard Tianjin, recently agreed to a settlement that would give cash to help replace the Chinese Drywall in affected homes.

The settlement will cost approximately $600 million to $1 billion.  According to NBC Miami,  the company will cover all of the necessary Chinese Drywall repairs on all 4,500 houses that were affected.  Among the homes affected, 55% of the homes are in the State of Florida. There are thousands of homeowners, mostly in the South, affected by the installation of tainted Chinese Drywall.

Attorneys for the plaintiffs said that Knauf knew that the Chinese Drywall that they installed in homes was defective and neglected to tell customers. Chinese Drywall gives off a foul odor.  It also corrodes wiring and metal in appliances and causes health problems.  Settlements have been reached with other Chinese Drywall manufactures and more should follow.

This is great news for many Parkland and Florida homeowners that have been dealing with the Chinese Drywall saga for many years.  This news will also help stabilize the overall Parkland and Florida real estate market as more and more homeowners will receive settlements in order to finally remove the Chinese Drywall in their homes.  As a result, homeowners, and their families, will soon be able to enjoy their homes that they had built.  We will continue to provide the Parkland community with updated information on the Chinese Drywall court proceedings.

Know the neighborhood. Know the value. Know your hometown agents: The Parkland Parrot Real Estate Team. If you are interested in buying or selling real estate in Parkland or South Florida and are looking for experienced local Realtors, please do not hesitate to contact the Squawk at 954-609-0591 or send us a message here.

WCI Knew Parkland Golf and Country Club and Heron Bay Had Chinese Drywall As Early As 2006

WCI Communities Kept Quiet About The Chinese Drywall Problem As Early As 2006

Yesterday, Sun-Sentinel article reports that Bonita Springs-based-homebuilder WCI Communities was aware that homeowners were complaining about Chinese Drywall as early as 2006.  Unfortunately, WCI kept quiet and said nothing to its customers and the government.  This new information was ascertained by ProPublica and the Sarasota Herald Tribune.

The Chinese drywall issue did not catch the public’s attention until early 2009, when South Florida residents started to complain about foul smells and damaged appliances.

We reported that WCI emerged from bankruptcy protection last September. WCI built Heron Bay and Parkland Golf & Country Club, which are among the region’s hardest hit by Chinese drywall.

If WCI Communities hid the Chinese drywall problem from the many homeowners that purchased in their communities, then there is no telling what else they could be covering up from the public!

Buyers beware!  I urge perspective Parkland home buyers to hire professional and licensed home inspectors that also specialize in Chinese drywall inspections.  Any home built in 2001 or sooner should have a Chinese drywall inspection performed.  It is better to spend the extra money, so you do not become another victim of Chinese Drywall or other issues caused by WCI Communities.

WCI Communities -  Shame On You! Shame On You!

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If you are interested in buying or selling a real estate property in Parkland or South Florida, please give us a call at 954-609-0591 or send a note to the squawk.