An exploratory review of the effects of toxic mold on real estate values.
Simons, Robert A.
An exploratory review of the effects of toxic mold on real estate values. - 2005 - The Appraisal Journal Spring 2005, 156-166(11) .
Reports outcomes of ten litigated toxic mold cases: a contingent valuation (CV) in South Carolina; mold case studies of an apartment complex near Seattle; and a group of homes in Cleveland, Ohio The litigated cases had very large payouts, some larger than the property value. Postcure reductions of 20-37% in property value were revealed in the CV surveys. The apartment property contaminated with toxic mold had losses in excess of 60% and potentially as high as 100%. A mildly affected group of homes in Cleveland, Ohio, incurred unit remediation costs of 5-15%. [Taken from journal abstract.]
An exploratory review of the effects of toxic mold on real estate values. - 2005 - The Appraisal Journal Spring 2005, 156-166(11) .
Reports outcomes of ten litigated toxic mold cases: a contingent valuation (CV) in South Carolina; mold case studies of an apartment complex near Seattle; and a group of homes in Cleveland, Ohio The litigated cases had very large payouts, some larger than the property value. Postcure reductions of 20-37% in property value were revealed in the CV surveys. The apartment property contaminated with toxic mold had losses in excess of 60% and potentially as high as 100%. A mildly affected group of homes in Cleveland, Ohio, incurred unit remediation costs of 5-15%. [Taken from journal abstract.]