I’d like to disclose I’m a non-Florida mortgage lender with lender friends in Florida. It’s starting to really impact interested buyers. When they see the premiums, they run.
There’s some places where buyers can’t find anyone willing to insure. Well, if there’s no homeowner’s insurance, there’s no mortgage loan either.
It’s not looking good and certain areas of California (fire-prone areas) and starting down this same path.
It should be interesting to see what happens to inventory and values over the months and years ahead.
What’s made this much worse than it needs to be, something California won’t have impacting it, is if 25% of your roof is damaged by storms, Florida law requires your insurance company to replace it entirely. This drives up costs for the insurance companies to unbearable prices insanely as roofing companies literally scour the streets trying to sell their repair services to anyone who mistakenly opens the door.
I don’t think I’ve gone a month without the sounds of roofing repair going on outside.
I’d like to disclose I’m a non-Florida mortgage lender with lender friends in Florida. It’s starting to really impact interested buyers. When they see the premiums, they run.
There’s some places where buyers can’t find anyone willing to insure. Well, if there’s no homeowner’s insurance, there’s no mortgage loan either.
It’s not looking good and certain areas of California (fire-prone areas) and starting down this same path.
It should be interesting to see what happens to inventory and values over the months and years ahead.
What’s made this much worse than it needs to be, something California won’t have impacting it, is if 25% of your roof is damaged by storms, Florida law requires your insurance company to replace it entirely. This drives up costs for the insurance companies to unbearable prices insanely as roofing companies literally scour the streets trying to sell their repair services to anyone who mistakenly opens the door.
I don’t think I’ve gone a month without the sounds of roofing repair going on outside.