We have felt some slowdown in the real estate market in the Denver metro area in 2018. Interest rates have risen. Current average days on the market have risen to 31 days. The real estate professionals are reporting a turn in the market to slightly favor the buyer vs. the seller. While this could be quickly remedied in the coming months with a decline in inventory, I say we should enjoy the buyer in control. After all, the buyer cares more about what they are getting for their money.
It always pains me to hear a seller or seller’s agent ask to take short cuts to get the costs down on radon systems. While I have a hard time with this and almost always lose out to a competitor or pass with this kind of client, there are plenty making money this way in the radon industry. Using inferior products, unqualified or cheap labor, or not treating the crawl space because the next measurement will likely only be in the basement. Some aim to get the level just below 4 pCi/L, with minimal efforts to improve the overall indoor air quality. If you participate in this kind of business practice, I urge you to reconsider. In our standards, we take the oath of ALARA, as low as reasonably achievable. As a group of professionals, let’s practice that. You could actually save someone’s life.
Educate your buyers’ agents, because inevitably, they will also be a sellers’ agent. Let them know that there is still a risk of cancer, in fact, many cases are reported from averages below 4 pCi/L. Remind them that this IS a serious health risk, not something for which they should pay the cheapest price. A couple of hundred dollars is pennies on the dollar in terms of the real estate agents’ commission and the wellness of the future occupant. The cost of lung cancer treatment can cost hundreds of thousands of dollars. Educate your home inspectors and real estate agents to help identify what a problem system looks like and when to call a professional for a system inspection. Encourage the real estate agent to always advise their clients to test, regardless of whether or not the home has a system, regardless of the age of the system.
There are an estimated 50,000 people expected in net migration to Colorado this year. The builders are still busy producing new homes, many with no systems or passive systems that may or may not work. There is predicted to be an abundance of commercial and industrial work for 2019. We are very fortunate in Colorado to have many new opportunities. We would love to have members from other states share news in their marketplaces as well. Please send us an email to email@example.com.
May your year be prosperous and rewarding.
President – Rocky Mountain AARST