Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Don Green who wrote (23688)	9/7/2004 1:42:06 PM
From: redfish	Read Replies (3) \| Respond to of 306849

I've been wondering how the storms will effect the real estate speculative buying in south Florida. I would think if you own a half-built home that you don't plan to live in, it would make you a bit nervous. My folks in WPB only suffered a few roof shingles, three small mango trees, and power outage.

To: Don Green who wrote (23688)	9/7/2004 1:47:15 PM
From: Bid Buster	Read Replies (1) \| Respond to of 306849

Very few private insurers cover wind storm and none that I know of cover flood as thats covered under the federal flood insurance program. But those private insurers that do underwrite windstorm play musical chairs as they get in and out in the hopes of taking the money and run. Good to hear y'all made it through the latest with minimal damage.

To: Don Green who wrote (23688)	9/7/2004 11:37:22 PM
From: Jim McMannis	Respond to of 306849

We came through fine Don. Sure don't expect insurance rates to go down here, for sure. Lemmie know if we can help with those 2 houses. <G>

To: Don Green who wrote (23688)	9/8/2004 6:28:24 AM
From: MoneyPenny	Respond to of 306849

re: Fl insurance. About 4 days before T.S. Bonnie was a reality, I received a notice from AAA that the company who insures my home was downgraded by AM Best and AAA was not renewing any policies with them. My policy is up in October. At this time, I have been unable to get a new policy. AAA is scrambling, I have no idea what to do. My flood policy is is ok. Wind coverage carries a pretty stiff deductible that is mandated. 2% of the total value of the home, not the loss is the minimum. Many people have 5% I believe. Some of the work I have been doing is just paid direct by the homeowner since the likelyhood of collecting under these circumstances is slim. Most have been happy they had so little damage and are happy to pay themselves (obviously these people have resources)