Common renovation activities like sanding, cutting, and demolition can create hazardous lead dust and chips by disturbing lead-based paint, which can be harmful to adults and children. To protect against this risk, on April 22, 2008, EPA issued a rule requiring the use of lead-safe practices and other actions aimed at preventing lead poisoning. Under the rule, beginning in April 2010, contractors performing renovation, repair and painting projects that disturb lead-based paint in homes, child care facilities, and schools built before 1978 must be certified and must follow specific work practices to prevent lead contamination.

Until that time, EPA recommends that anyone performing renovation, repair, and painting projects that disturb lead-based paint in pre-1978 homes, child care facilities and schools follow lead-safe work practices.

* All contractors should follow these three simple procedures:
o Contain the work area.
o Minimize dust.
o Clean up thoroughly.
* Read EPA’s Regulations on Residential Property Renovation at 40 CFR 745.80, Subpart E.
* Read about lead-hazard information for renovation, repair and painting activities in the EPA lead hazard information pamphlet Renovate Right: Important Lead Hazard Information for Families, Child Care Providers, and Schools (PDF)
* Read about lead-safe work practices for contractors in the EPA pamphlet Contractors: Lead Safety During Renovation (PDF) color, in English (2 pp, 635K) | color, en español (PDF) (2 pp, 334K) | HTML version | Other formats
* Read about how to comply with EPA’s rule in the EPA Small Entity Compliance Guide to Renovate Right (PDF)
* Find additional EPA publications and brochures on lead-safe renovation, repair and painting and on lead poisoning prevention.

Beginning in December 2008, the rule will require that contractors performing renovation, repair and painting projects that disturb lead-based paint provide to owners and occupants of child care facilities and to parents and guardians of children under age six that attend child care facilities built prior to 1978 the lead hazard information pamphlet Renovate Right: Important Lead Hazard Information for Families, Child Care Providers, and Schools (PDF)

The rule will affect paid renovators who work in pre-1978 housing and child-occupied facilities, including:

* Renovation contractors
* Maintenance workers in multi-family housing
* Painters and other specialty trades.

Under the rule, child-occupied facilities are defined as residential, public or commercial buildings where children under age six are present on a regular basis. The requirements apply to renovation, repair or painting activities. The rule does not apply to minor maintenance or repair activities where less than six square feet of lead-based paint is disturbed in a room or where less then 20 square feet of lead-based paint is disturbed on the exterior. Window replacement is not minor maintenance or repair.

Read EPA’s Lead Renovation, Repair and Painting rule.

You can read more at the EPA website: http://www.epa.gov/fedrgstr/EPA-TOX/2008…

Read the rules, make sure you are compliant with them. Use a certified contractor when dealing with lead paint and make sure you get the job done right.

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A must read for the Real Estate Investor, no matter what your level is.

Steve Bergsman is a freelance writer in Arizona and author of several books, including “After the Fall: Opportunities and Strategies for Real Estate Investing in the Coming Decade.”

While many potential homeowners — especially first-time buyers attempting to beat the Nov. 30 deadline and take advantage of the $8,000 federal tax credit — have re-entered the market and have made compelling offers to purchase Puget Sound homes, investors have been reluctant to capitalize on reverse tax-free exchanges.

Nine years ago, the federal government enhanced 1031 delayed exchanges that allow taxpayers to defer the capital gains tax on an investment property if they purchase a “replacement” investment property of equal or greater value within specific time frames.

The enhancement, Internal Revenue Procedure 2000-37, permits the title to the “replacement” property to be held by an independent third party (typically a facilitator or attorney) until the “old” property sale closes. In other words, you can buy before you sell and still defer the gain.

To view the source of this information and the rest of th story: Click Here

Financial, business risks stir concerns
By Tom Kelly, Thursday, October 29, 2009.

Inman News

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By Andrew Schroedter, Oct. 21, 2009

(Crain’s) — The non-profit development arm of billionaire banker Michael Kelly has submitted an ambitious plan to the Daley administration for 5.6 million square feet of new homes and retailing on a shuttered steel plant next to the landmark Pullman District.

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The Department of Housing and Urban Development put forward the proposed changes to the Real Estate Settlement Procedures Act (RESPA) in March 2008 and issued a final rule in November after a public comment period that was extended at the industry’s request.

Lenders want more time, clarification of new disclosure rules

By Matt Carter, Friday, October 16, 2009.

Inman News

Click Hrere For Full Story

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With about 1 million homes in foreclosure at the close of the second quarter, according to a Treasury Department report released last week, the American dream is going into reverse at bewildering speed for homeowners across the country.

For More on “Former homeowners go the rental route” By JANIS MARA,

Click Here…