Search results for: “wildfire”
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Up in Smoke? Know the Risks of Buying Real Estate in Wildfire Country
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…
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Buyer Be Told: More Wildfire Risks for Homes in California—and Beyond
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…
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As Home and Condo Insurers Back Away, What’s a California Deed Holder to Do?
It’s wildfire season in California. You want to buy there, and yet you might have heard reports of homeowners being left stranded by their insurance companies. So you have special concerns about whether you’ll have trouble getting a home or condo owner’s policy. Your concerns are well founded. The California Association of REALTORS® found that…
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What’s the Low-Down on This Housing Market? Harvard Weighs In.
The Joint Center for Housing Studies at Harvard has just published its 2024 State of the Nation’s Housing report. HOUSING COSTS STRAIN OWNERS AND RENTERS ALIKE, the report proclaims. MILLIONS PRICED OUT OF HOMEOWNERSHIP. The headlines say it all, right? While construction is starting to bolster inventories, the new report notes certain persistent issues: record…
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Next Five Years: Predictions for the Housing Market
The U.S. News & World Report has just come out with its housing market predictions. And it has a few zingers. Take a look.
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Indianapolis Rising: Where the Investor Buyers Are Going and Why
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…
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Climate Risks and Insurance: The Struggle Continues
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…
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“Unlicensed Appraisal” and Other Stories: How Scam Artists Chase Disaster Victims
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…
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Can I Stop Development (Or Other Nuisances) Near My New Home?
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…
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Insurers Hike Prices, Pointing to Climate. Investors See New Opportunities.
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…
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Does the Government Seize People’s Homes?
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,…
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Buyers Are Moving Into Unfinished 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…
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The Master Policy Versus Individual Homeowner’s Coverage
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…
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2021 Is a Wrap—And What a Phenomenal Year for Real Estate!
The U.S. housing market lifted sale prices to new highs in 2021. Remote work, which surged in 2020, really settled into accepted custom in 2021. Our new way of working became central to the way we choose our homes and the way live in them, and the results were unreal. Other factors that made 2021…
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Ring In the New: Home Buying Trends for 2022
Will 2022 Be Better for Buyers? Home sellers did very well in 2021. There was just one rub. Most people who sell also want to buy. And homes were very expensive. Some boomers who would normally be downsizing now, and putting their houses into the market, have not. They’ve stayed put, waiting for somewhere to…
