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Recently, Redfin has been sounding the alarm about a particular real estate trend. People are building in dry areas with high fire risk. This is happening in a decade that’s seen unprecedented losses to fire. The Wildland Urban Interface (WUI) — where builders are active in and near natural lands — is now the fastest …
Continue reading “Up in Smoke? Know the Risks of Buying Real Estate in Wildfire Country”
California has changed its laws in wildfire country. Buyers of real estate in in places where the risk of fire is “high” or “very high” will receive information about how the seller cleared the home of surrounding debris, and how the buyer should continue that task, protecting the home from flames and embers. It’s just …
Continue reading “Buyer Be Told: More Wildfire Risks for Homes in California—and Beyond”
Some say the investment boom has fizzled. But mostly, it has changed tactics. Reacting to a sharp increase in the costs of mortgages, investors have shifted away from certain housing markets and into others. Investors are keeping deed recorders very busy in Indianapolis. Suddenly, Milwaukee is feeling the love, too. Columbus, Ohio? Yep, buyers …
Continue reading “Indianapolis Rising: Where the Investor Buyers Are Going and Why”
Insurance policies are getting pricier. There is no end in sight. Companies hope to limit payouts for weather damage linked to climate disruption. And so, as floods, storms and fires intensify, homeowners and buyers across the country should brace themselves for more than weather. Companies are shrinking coverage, hiking premiums, and raising deductibles. Something’s got …
Continue reading “Climate Risks and Insurance: The Struggle Continues”
After Tropical Storm Hilary blasted the Baja and San Diego regions in mid-August, the Federal Trade Commission urged people to watch for a surge in rip-offs. Opportunists may say they’re performing appraisals, but unless they are licensed appraisers, they lack professional accountability. If they’re improperly doing the work of adjusters, they might be violating state …
Continue reading ““Unlicensed Appraisal” and Other Stories: How Scam Artists Chase Disaster Victims”
Looking at homes near undeveloped land? Found some real estate with a great view, and perfect privacy? Maybe too perfect, you think. Because it looks like a space developers would love, too. What if they build houses or apartments in that open space? What if you wake up in your newly bought home to the …
Continue reading “Can I Stop Development (Or Other Nuisances) Near My New Home?”
With climate change impacting more and more real estate, insurance keeps getting pricier. As we reported last year, mortgage lenders for coastal homes often expect 40% down payments, just to offset the risks. This year, the insurance tech company Policygenius published a study showing U.S. homeowners’ insurance rising at a remarkable 12%+ rate. Among the top …
Continue reading “Insurers Hike Prices, Pointing to Climate. Investors See New Opportunities.”
Rising Profile Ahead for Eminent Domain When you think of eminent domain, what comes to mind? Perhaps you think of land that suffered some kind of toxic dumping or spilling, so that the government has to take it in order to restore it, if possible, to a non-hazardous state. And that does happen. But sometimes, …
Continue reading “Does the Government Seize People’s Homes?”
As the Supply Chain Saga Continues… We’re a few weeks into 2022 now. Building materials are still backed up in supply chains. For many home developers, building projects have lagged. Pauses in processing, followed by delayed production schedules, were among the immediate effects of the pandemic. In 2021, the vast majority of building companies struggled …
Know Your Condo Insurance Condo insurance is a necessity. As a condo buyer, you’ll get a condo insurance policy, and the payments will likely be pulled from the escrow account established for your mortgage account. This way, the value of the real estate (and your lender’s stake in it) asset is covered against damage. Your …
Continue reading “The Master Policy Versus Individual Homeowner’s Coverage”