Monday, November 11, 2019 / by Nicole Solari
After several years of record-breaking California wildfires, insurance companies have responded by imposing huge premium increases on property owners, or even worse, flat-out denying coverage and canceling policies. Here are some tips to help property owners maintain their current insurance plan or, if necessary, find a new one.
KNOW YOUR RIGHTS! If your insurance company is not going to renew the policy on your home, they must notify you in writing at least 45 days before the expiration date. If you didn’t receive the proper notice, contact the California Department of Insurance (DOI) at 1-800-927-HELP or online at www.insurance.ca.gov. Check to see if your policy has a guaranteed renewal provision. You may also be entitled to a renewal under laws applicable to homes that are lost in a declared disaster.
CONTACT YOUR INSURANCE COMPANY IMMEDIATELY. If you receive notice of a rate increase or non-renewal, get in touch ASAP to see if ther ...
Friday, February 22, 2019 / by Nicole Solari
4 Reasons Why We’re Not Headed For Another Housing Crash
With home prices rising in many areas of the country, many people are worried that we’re headed for a housing crash like the one we suffered in 2008.
But here’s the thing: it’s just not true. While it’s understandable that people would look at the current market, consider it a “housing bubble,” and assume it’s going to pop, the truth of the matter is the market today couldn’t be any more different than they were before the crash of 2008.
Let’s take a look at four reasons why we’re not headed for another housing crash:
1. Banks have tightened their lending practices
The biggest contributor to the crash of 2008 was risky lending practices. Financial institutions had extremely loose standards in terms of who they’d lend to; they were giving out mortgages to people with low incomes, bad credit, and who were unlik ...
Friday, September 8, 2017 / by Nicole Solari
It’s time to clear a few things that have been lingering around my desk, bits and pieces of market news that together explain some of what’s happening with today’s housing market and how it may change in the near and distant future.
More would-be buyers opting out of homeownership
The most popular theory about why more houses aren’t being sold: There simply aren’t enough properties on the market to go around. But according to a new study from Experian, one of the big three credit repositories, a big chunk of what would ordinarily be potential buyers have opted out of homeownership.
More than a quarter of the 1,000 people queried in a telephone survey in late June — 27 percent — told Experian that they have no interest in owning, not now and not five or 10 years from now. That’s up from 19 percent when pollsters asked the same question a year ago.
Another big reason: Folks want to remain mobile. Nearly tw. ...
Monday, August 28, 2017 / by Nicole Solari
The Federal Housing Finance Agency (FHFA) recently released their latest Quarterly Home Price Index report.
In the report, home prices are compared both regionally and by state.
Based on the latest numbers, if you plan on relocating to another state, waiting to move may end up costing you more!
Alaska & West Virginia were the only states where home prices are lower than they were last year.
Wednesday, June 21, 2017 / by Nicole Solari
After working hard for so many years, you might have purchased a home you are proud of. However, you might have heard about folks whose families were unable to get the family home after a parent’s death because it was tied up in court with probate issues.
As a parent and spouse, you probably want to spare your children from the expense and burden of probate court. Here are 3 ways to protect your home from probate so that it goes to the person or people you wish it to with as little delay as possible.
1. Use a Living Trust
While you're alive, you might be adamant about managing your personal affairs. However, if you want to be sure that you're legally protecting your estate, you ought to look into a living trust.
With a trustee, usually a trusted friend or family member, you can continue managing all the assets you transfer to the trust while you’re alive. When you finally pass on, the people or person listed as your beneficiari; ...