Nevada: High Mold State
The GREENGUARD Environmental Institute lists Nevada among the top 10 States for high mold. The significance for homeowners? Because mold damage is now excluded or severely limited on standard property insurance, concerns about the financial impact of a mold outbreak in a home or business continue to rise.
“Mention mold right now, and the Gulf Coast comes to mind first, but the contamination on real estate hit by hurricanes was generally less significant overall than mold growth caused by inferior building materials or poor construction,” said Carl Smith, CEO/Executive Director of GEI, a non-profit organization working with lenders and developers on mold risk mitigation techniques. “It’s counterintuitive to think of shopping centers in Phoenix or casinos in Las Vegas as being at risk for mold, but it makes sense when you examine the causes of mold and problems often caused by modern building practices and materials.”
According to Smith, many buildings and houses in dry climates develop mold issues when moisture is nurtured within walls and windows that are tightly sealed off from consistently hot conditions outside.
As mold decreases property values, it could force many owners into default, forcing mortgages into a “non-performing loan” category, the worst- case scenario for lenders. That classification causes a negative chain reaction from ratings agencies, regulatory authorities, and shareholders.
Top 10 Relative Hazard Mold Ranking
Texas 2.95
Florida 2.50
Oklahoma 2.45
South Carolina 1.91
Nevada 1.90
Arizona 1.90
California 1.73
South Dakota 1.47
Tennessee 1.33
Kansas 1.25
Bottom 5 Relative Hazard Mold Ranking
Wisconsin .06
West Virginia .07
Alabama .13
Massachusetts .18
Minnesota .19
For more information, contact MillionSaverHomes.com a local Las Vegas real estate broker at 702.212.3513.
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