Full Disclosure and Richmond Homes in Colorado
Does a neighborhood developer have the responsibility to inform potential homeowners of construction in their neighborhood that has been approved, but not started at the time of closing?
For example, a friend of mine who lives in Thornton, CO bought his dream home. His wife and he picked their plot, chose their floor plan and watched every day as construction moved from one phase to the next. He inundated his social media with daily photos of his soon-to-be home's progress as he and his family eagerly awaited move-in day.
Little did they know at the time how the area behind their house would soon be getting fracking wells. Twenty-six of these wells have already gone in, some as near to their fence-line as 1000ft, which doesn't seem close until it's your backyard. Other wells even closer to the local playground.
Richmond Homes, the builder behind the community my friend bought his dream home in, never informed them the property adjacent to theirs would soon be sporting wells, not views. They never informed the buyers who purchased homes in their community that more than 70 fracking wells would be going in and had already been pre-approved, in 2015, before the first foundation was laid. Only after they moved themselves and their children in did the wells follow.
And yet, as of January 01, 2016, realtors and home sellers are required to disclose whether oil or natural gas drilling will be happening around the property being sold. At least according to Colorado law. Not only are they required to disclose, but they're required, by that same statute, to place such disclosures in large black (bold) lettering.
And yet, Richmond Homes didn't. At least not to my friend or his neighbors.
It's enough to turn a stomach sour. Imagine for a moment you're ready to purchase your dream home. You choose your neighborhood, choose the plot of land you're like to build on and choose the floor plan your family will enjoy the most. Life is looking good, but then a corporation moved in and builds an unsightly structure where your mountain vistas were. Not only have they destroyed your views, and possibly your property values, but they're also working in a very unregulated industry that has more money and more access to politicians than you. Where reports of people becoming sick when they're too close to this industry, the industry claims it's not related. When water comes from the ground smelling foul or tasting weird, the industry claims it's unrelated. When there's a statistical rise in health related illnesses near the industry, the industry claims there is no relation. The industry blocks your ability to speak out by calling you emotional or claiming your facts are incorrect. They call into question research studies and discredit you at every turn. They even - possibly - somehow have your unflattering reviews online removed.
What can you do?
Well, you can reach out on social media, as my friend did. Be interviewed by the local paper, which spends more time defending the industry against sick kids and reduced home values as it dives deep into lost revenues and employment opportunities. And yet, one has to ask: how many jobs does chronic illness for a neighborhood justify? You can complain to your neighbors and hope they'll sign on a class action lawsuit with you ,and you can talk to lawyers who'll gladly take your case hoping for a payout, but won't want to put in the effort of a collective suit.
For lack of a better comparison, this is a classic case of David v Goliath, man versus giant. We see these stories play out every singe day in the USA as companies, government and other entities battle for the soul of the country. And what point are corporate profits second to the public good? Should my friend's neighborhood turn into another Flint, Michigan, with years of dropping home values and decades of health issues? Should it be another Appalachia where running water in many streams and rivers is too dangerous to drink, or even swim in, after a century of mining? Should his neighborhood become as unlivable as a Superfund site? And what of the investment his family has in the property? Home ownership is one of the largest investments many people will ever make in their lives. Unlike the billionaires on Shark Tank or the Hollywood glitteratti, everyday average Americans don't have the ability to walk away from a half-million dollar home, much less the ability to hire a trove of attorneys to fight their battles for them. Us, average Americans, have very little recourse when being steam-rolled by larger better funded entities.
I certainly don't. Do you?
In Rob's own words:
 |
| https://goo.gl/m2ZpfT |
Little did they know at the time how the area behind their house would soon be getting fracking wells. Twenty-six of these wells have already gone in, some as near to their fence-line as 1000ft, which doesn't seem close until it's your backyard. Other wells even closer to the local playground.
Richmond Homes, the builder behind the community my friend bought his dream home in, never informed them the property adjacent to theirs would soon be sporting wells, not views. They never informed the buyers who purchased homes in their community that more than 70 fracking wells would be going in and had already been pre-approved, in 2015, before the first foundation was laid. Only after they moved themselves and their children in did the wells follow.
And yet, as of January 01, 2016, realtors and home sellers are required to disclose whether oil or natural gas drilling will be happening around the property being sold. At least according to Colorado law. Not only are they required to disclose, but they're required, by that same statute, to place such disclosures in large black (bold) lettering.
And yet, Richmond Homes didn't. At least not to my friend or his neighbors.
 |
| https://goo.gl/zH3wu6 |
 |
| https://goo.gl/zUYoph |
What can you do?
Well, you can reach out on social media, as my friend did. Be interviewed by the local paper, which spends more time defending the industry against sick kids and reduced home values as it dives deep into lost revenues and employment opportunities. And yet, one has to ask: how many jobs does chronic illness for a neighborhood justify? You can complain to your neighbors and hope they'll sign on a class action lawsuit with you ,and you can talk to lawyers who'll gladly take your case hoping for a payout, but won't want to put in the effort of a collective suit.
For lack of a better comparison, this is a classic case of David v Goliath, man versus giant. We see these stories play out every singe day in the USA as companies, government and other entities battle for the soul of the country. And what point are corporate profits second to the public good? Should my friend's neighborhood turn into another Flint, Michigan, with years of dropping home values and decades of health issues? Should it be another Appalachia where running water in many streams and rivers is too dangerous to drink, or even swim in, after a century of mining? Should his neighborhood become as unlivable as a Superfund site? And what of the investment his family has in the property? Home ownership is one of the largest investments many people will ever make in their lives. Unlike the billionaires on Shark Tank or the Hollywood glitteratti, everyday average Americans don't have the ability to walk away from a half-million dollar home, much less the ability to hire a trove of attorneys to fight their battles for them. Us, average Americans, have very little recourse when being steam-rolled by larger better funded entities.
I certainly don't. Do you?
In Rob's own words:
Comments