Posted by: Roby Robertson | June 30, 2009

Lake Norman and Charlotte Real Estate | Investors Be Afraid Of This Bill?

The “Cap and Trade” bill that passed the House of Congress last Friday has a special provision in it that Lake Norman and Charlotte Real Estate Investors will just “love”. If the bill passes the senate as written, the Investors in Real Estate will have new higher hurdles to climb. The bill contains language that will mandate an EPA inspection on any home or office building and that inspection will require that the home must meet current EPA standards for energy efficiency. So, if you are buying homes in disrepair, you essentially cannot buy those homes from banks or other investors unless and until the home is brought up to EPA mandated standards for energy efficiency. You will also be required to have energy efficient appliances in the home as well as energy efficient windows and doors.  The things you were going to fix when you bought it and the reason for your discount on the property at purchase? Your discount is going to be mandated out and so will the idea of buying cheap, fixing, and selling will be moot.

This bold-ed comment could affect everyone and anyone selling a home!

As if all of that isn’t bad enough, the EPA standards will require that your home is fully up to a federalized building code before selling. The source of the federal building code?  California’s building code.  The state that is about to go bankrupt because it has overspent its budget? 

Not sure how the California building code differs from ours in the Lake Norman and Charlotte areas but it sounds kind of scary to me! Now, I am for cleaning up the environment but these steps seem to go too far especially now. 

Read more about the Cap Trade Bill in this post!

These comments are based on my understanding.  If you are a real estate investor, my advice is to look into this further and if you agree it will affect your efforts adversely, please contact your senators!

As always if you are interested in Lake Norman and Charlotte area real estate, please contact your Lake Norman Area Agent at 704 451 7051.

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