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| The Scuppers This is a new forum for the not necessarily fishing related topics... |
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09-29-2013, 07:06 PM
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#1
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Seldom Seen
Join Date: May 2001
Posts: 10,543
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I have done work on a number of premier waterfront homes up here, some of which I have posted pics of in the past. A lot of these homes now have for sale signs up due to the pending new flood zone maps and the mandatory insurance a mortgage company could force upon the owners.... Some premiums I have heard are running in the six figure range.... That will separate the rich from the really rich. As well as those who have a mortgage from those who don't. The flood zone deal is going to be a big topic. Soon.
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09-30-2013, 09:25 PM
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#2
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lobster = striper bait
Join Date: Jul 2002
Location: Popes Island Performing Arts Center
Posts: 5,871
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Quote:
Originally Posted by nightfighter
I have done work on a number of premier waterfront homes up here, some of which I have posted pics of in the past. A lot of these homes now have for sale signs up due to the pending new flood zone maps and the mandatory insurance a mortgage company could force upon the owners.... Some premiums I have heard are running in the six figure range.... That will separate the rich from the really rich. As well as those who have a mortgage from those who don't. The flood zone deal is going to be a big topic. Soon.
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Yeah, if they're selling because of the new flood maps, they couldn't afford it in the first place.
It SHOULD have been a big deal back in June when it was announced. Insurance industry knew about it at the end of last year, but didn't know how the maps were being done.
Basically the grandfathering is all done, as it should be. |
Ski Quicks Hole
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10-01-2013, 06:38 AM
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#3
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Also known as OAK
Join Date: Apr 2003
Location: Westlery, RI
Posts: 10,408
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Quote:
Originally Posted by likwid
Yeah, if they're selling because of the new flood maps, they couldn't afford it in the first place.
It SHOULD have been a big deal back in June when it was announced. Insurance industry knew about it at the end of last year, but didn't know how the maps were being done.
Basically the grandfathering is all done, as it should be.
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Yup.
Going back to actuarial rates, no longer subsidized rates. This began post-Katrina, but took a while to get through.
If you can afford to live/build there, buy insurance, or don't, your choice. If it falls down, and you chose no insurance, don't ask the Feds to bail you out.
Novel approach, huh?
Last edited by RIROCKHOUND; 10-01-2013 at 06:31 PM..
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Bryan
Originally Posted by #^&#^&#^&#^&#^&#^&#^&#^&#^&#^&#^&
"For once I agree with Spence. UGH. I just hope I don't get the urge to go start buying armani suits to wear in my shop"
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10-01-2013, 11:39 AM
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#4
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lobster = striper bait
Join Date: Jul 2002
Location: Popes Island Performing Arts Center
Posts: 5,871
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Quote:
Originally Posted by RIROCKHOUND
Yup.
Going back to actuarial rates, no longer subsidized rates. This began post-Katrina, but took a while to get through.
If you can afford to live/build there, buy insurance, or don't, your choice. If it falls down, and you chose new insurance, don't ask the Feds to bail you out.
Novel approach, huh?
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You get out of here with your crazy common sense! |
Ski Quicks Hole
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