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Radon is a real concern, even in Summit County

by The Mountain Living Team

Radon gas is an invisible, odorless gas that is naturally occurring in our environment.  It dissipates in the air so, in general, it is harmless.  The danger occurs when it gets trapped in spaces like our home and builds up.  You and your family could be breathing in radon gas and you wouldn't even know it.  

In Summit County, the cost to mitigate a home can run around $1500-2000.  It is a relatively simple fix that just exhausts that trapped air & radon gas out into the air where it can dissipate.  A vapor barrier is typically installed in crawl spaces to try and limit the intrusion of the gas into the home as well.  

A home buyer has an opportunity to test for radon during a home inspection and, if the levels are high, can request the seller pay for the radon mitigation.  A machine that takes hourly readings will be put in the home for about 48 hours.  It provides immediate data and  costs around $150.  If you already own your home and don't need a test that provides quick results, you can buy a test kit at the local hardware store and mail it off for the results.  If you prefer, Summit County will provide a free radon test kit to homeowners. You can pick one up at the Environmental Health Department in the  County Commons building on Peak One Drive in Frisco.

Remember, if you have tested for radon in your home, those results must be disclosed to potential buyers when it comes time to sell.  If your test results are above 4.0 pCi/L the EPA recommends mitigation.  A couple of companies in Summit County to mitigate radon are Summit Radon Solutions 970-470-3613 and Ace Radon 970-453-2435. They will provide you with a free estimate & a limited warranty on their work. 

What does a Fed rate hike mean for mortgage rates?

by The Mountain Living Team

There has been speculation for months and yesterday it happened.  The Fed bumped interest rates .25%.  The speculation also included two more rate hikes this year and more in 2018.  There is no indication any of that has changed.  As long as the economy continues on like it has, those hikes are very likely.  Rate hikes are a sign of a good economy but it also makes us wonder how those interest rate hikes will impact us directly.  

The Fed rate doesn't impact mortgage rates directly.  In fact, we may not even feel it in the mortgage market.  Long term mortgage rates are tied to the ten year Treasury yield.  The Fed's rate increase is more likely to impact your credit card interest or auto loans than the rate on a 30 year fixed loan or on your savings account.  

Mortgage rates will likely increase due to a strong economic indicators, or even speculation of a strong economy.  Unfortunately, exactly when that will happen is not as obvious as the Fed rate increase is.

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Photo of Jason & Meredith Adams Real Estate
Jason & Meredith Adams
Mountain Living Real Estate
PO Box 4115
Frisco CO 80443