RE friends around here are saying things are slowing down quite a bit. Definitely a microcosm resort town, but yeah, it is happening and we are usually pretty insulated from major downturns.
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RE friends around here are saying things are slowing down quite a bit. Definitely a microcosm resort town, but yeah, it is happening and we are usually pretty insulated from major downturns.
Going back to the HO insurance discussion... our policy with Nationwide recently came up for renewal, a simple email with the policy PDF. No mention that they were jacking the premium up from ~$3k to $4k a year. WTF? Luckily I caught it a couple weeks before the renewal date.
I shopped around and everyone came in between $2-2.5k for better coverage (we live outside of Boulder), so we switched providers immediately. Our agent bitched about us not being loyal, but geez.
Not being loyal? GTFO, wow. Some of these agents can’t do anything but cash checks.
I like our insurer but really don’t like the agent that took over the biz from our previous one. How hard is it to switch agents without fucking around w the policy?
Uneducated question: what do insurance agents do? Allstate more than doubled our premiums and I switched to USAA 100% online, where would the agent come in?
They bask in the glory of their own farts.Quote:
Originally Posted by dan_pdx
Loyal? To the $298 billion insurance company?Quote:
Originally Posted by smmokan
My heart bleeds.
Good to know, I thought silicon valley had a monopoly on thatQuote:
Originally Posted by SKIP IN7RO
Work the cocktail party circut, have all the good tee times on lock, guilt trip their friends into doing business then sell the agency and retire early?
You think your old guy sucked? Wait until the new guy calls and you tell him you were looking for a reason to switch and this looks just right!
Ski Town Real Estate - your agent friends are back from MX already? They must be new. This time of year you pay the young and hungry to sit at the open houses and go heavy on the pinot until Memorial Day.
Sent from my Turbo 850 Flatbrimed Highhorse
disfrutando de la gloria de sus propios pedosQuote:
Originally Posted by Foggy_Goggles
Yep. He was working so hard he didn’t even bother to try and match the rate I found on my own with 15 minutes of searching.Quote:
Originally Posted by mcski
Btw, Nationwide makes it a total PITA to cancel their plan, since they won’t take your phone call and you can’t do it online.
the agent can't do that? lolQuote:
Originally Posted by smmokan
What if you simply just stopped paying?Quote:
Originally Posted by smmokan
Most likely it is in the escrow. The servicer/lender wouldn't like that.
Sent from my Turbo 850 Flatbrimed Highhorse
He can, but he was being a little bitch about me not being “loyal” so I tried to not involve him.Quote:
Originally Posted by Danno
And FG is right, it’s paid directly through our mortgage company.
Probably losing a good share of his "book" (I think that's what insurance agents call it) because of the rate increase. Not your fault, move on.
No loyal to the agent. He was collecting a yearly fee on that renewal, that was very rude…Quote:
Originally Posted by BmillsSkier
As far as what they do, they advise you on the policies and coverage you should take out and then are supposed to help you with the claim process.
While many agents do fight for their policy holders, they are Agents of the insurance company.
Careful though Smokkan, all policies with the same limits are not equal. I know you said it’s better but not sure how you define better - pay attention to both the limits and the coverage. It is somewhat complex (or at least lengthy and tedious) and part of why agents exist.
Also who the carrier is matters. Some pay a lot easier and are much better to deal with than others.
Just got a "7/31/24 at 12:01am your Landlord Policy will not be renewed" letter in the mail last nite on one of my rentals.
Foremost/Farmer Ins.
"We no longer offer this product in this state"
Small town cucks bitching about paying their insurance agent tithe is delicious. Isn’t it about community? Buying local? Supporting the local teams/whatever the fuck?
Acuity and Progressive are quoting a substantial savings to our current premiums. Anyone deal with Acuity?
Acuity has underwriten by business liability policy for about 20yrs. They have been great to work this including defending me against 2 BS claims.
Sent from my Turbo 850 Flatbrimed Highhorse
I had a call this morning about a senior living apartment building project in SLC. 110 units, $50-60 million. The size of the units wasn't mentioned, but I can't imagine they're more than 1-2 bedrooms and 1k ft2. Seems nuts.
$545ish per sq. ft.? As usually, it depends on what's in the number. If that included land, infrastructure and all preconstruction costs it sounds about right.
Its so in vogue to point the finger at the developers and assume they are responsible for the cost of housing but the imbedded cost are unbelievable. Its pretty easy to bring product to market at +/-$300 sq. ft. but it's almost as if the regulatory powers don't want it.
#how much should it cost and why?
#I go to the meetings.
DR Horton has it under $150 sqft in FL at cost.
https://www.zillow.com/homedetails/4...54523098_zpid/
But Florida? :nonono2:
LocationQuote:
Originally Posted by liv2ski
Location
Location
Amirite??
:D
FWIW, just broke ground on a similar sized affordable senior building in the greater seattle area and that was the construction budget last i saw. That didnt include the upfront land/design/permitting costs. State grants pay a big chunk of the budget from what i understand. And these are studios... they dont even have W/D in the units, thats down in the basement.Quote:
Originally Posted by Dantheman
This is a great point. SDC’s have grown at nearly an exponential rate in two of the markets I’ve been involved in lately. It’s disturbing to me that many consumers act as if that’s fiction. It’s pretty easy to verify and it’s a significant expense.Quote:
Originally Posted by Foggy_Goggles
Toll Brothers offers insurance coverage at half the market rate in the new home community near me. Hippo underwrites.
Houses being taken off market around here after months unsold.
were people wanting to sell them or just see how much they were worth ?
Southern Maine is still on fire. Knockdowns going for over 1MM.
Yep, same in seacoast NH pace-wise. Really sad people figured out it was a nice place to live. Monsters.Quote:
Originally Posted by Mazderati
PNW never even blinked.
I think the current trend of insurance rates for HOAs jumping 400% could have some pretty major consequences, especially in the condo markets. HOA fees are going to push people out of their homes, and who's going to buy into a place that has massive fees just to insure it?
So you're saying condo prices will be coming down?Quote:
Originally Posted by Name Redacted
Maybe both.Quote:
Originally Posted by XXX-er
Yeah, usually the prices come down to make it work out about even on a monthly payment level (although you get shit for equity if all your money is going to the HOA so its not a great long term deal).Quote:
Originally Posted by skaredshtles
Common to see "cheap" condos in super nice old buildings in big cities....until you see the HOA dues. Turns out maintaining those glamourous marble entryways and keeping the building from falling down is expensive.
Here's a random one in Chicago, but I've seen far more egregious examples:
https://www.zillow.com/homedetails/3.../3718277_zpid/
In a lower interest rate environment, that HOA fee is equal to a mortgage payment...
Ooof...the HOA fees and property taxes would be a bitter pill to swallow.
How wonderful these days that you can pay off your mortgage, meantime your taxes, insurance and HOAs have crept up to the point where your monthly payout without mortgage is equal to what it was when you first bought the place and were paying it all.