Real estate General topic

[ultrarunner]

Seeing some extremes in single family home prices and costs…

Home that was a solid 850k a few years back is now a solid 550k which is dramatic especially when mortgages are in the picture because time has proven upside down owners will walk.

It’s also interesting insurance premiums without any claim history are seeing 20-50% year over year increase if you are not dropped…

A good friend has a small Tahoe cabin for decades and premium 3 years ago was $3500 and now $13,500…

I predict the rank of uninsured homeowners to dramatically increase just like uninsured drivers…

I’ve already gone with max 10k deductibles to provide some relief…

Maybe the above is a reflection of California?

 

[paulsharvey]

Florida is going through much the same on insurance. One of the things they do a lot, add conditions to basically only insure zero risk homes.

Not entirely new either; when we bought our first home, like 18 years ago; get a letter maybe 30 days after close that we are being dropped for several reasons; including distance to fire hydrant (there is no public water within about 25 miles); a porch railing, and of all things, proximity to a paved road... that home was On a paved road, and had a driveway, well cleared, and stabilized, of about 120 ft from paved road... We ended up having to use Citizens Insurance, which is a last resort insurance. Eventually they dropped us for roof, even after replacing; and we went with Farmers, with much better coverage, but about double the premium....

 

[paulsharvey]

I got the water heater and tie downs scheduled. Tie downs will be $1750, which isn't nearly as bad as it could have been. Water heater, now mind you, 20amp, 220v, 30 gallon; as basic as you can get, Ace sells them for $399; to buy and have installed by licensed plumber... $1400.... That had me pretty mad, but

 

[thclimer]

I got the water heater and tie downs scheduled. Tie downs will be $1750, which isn't nearly as bad as it could have been. Water heater, now mind you, 20amp, 220v, 30 gallon; as basic as you can get, Ace sells them for $399; to buy and have installed by licensed plumber... $1400.... That had me pretty mad, but

Wow on the water heater install costs!

 

[grsthegreat]

Ive always installed my own water heaters. Takes like no major effort. And mine are a set of gas fired direct vent units with recirc pump.




On my old rental unit i replaced the electric 40 gallon unit when i sold the place. Took about 1.5 hrs

as i recall.

 

[ultrarunner]

It gets complicated pulling owner permit within a year of sale… at least here.

I’ve pulled gas water heater permits for multi-unit property and the fine print goes into great detail about restriction within a year of sale.

Some of the gas water heater replacements with permit and licensed plumber for 40 gallon are in the $2500 range… just a lot of time spent around the permit plus the cost of the permit…

My guess is part of that $1400 is for the time getting the permit and calling in an inspection plus old heater haul away.

 

[LouNY]

Another example of bureaucratic meddling for no good valid purpose other then to promulgate their power.

 

[paulsharvey]

Well, I do work around permitting every day, although not Building permits. It's mostly about, think of your shadiest drunken uncle, and how he would do it; and that guy is out there representing themselves as a professional to an unknowning public...

So, standards and specs are written for the worst. So, yep, there is a specification for water, and it has to be potable, for mixing mortar. Why? reclaimed would be fine, creek water would be fine. Yep, but if there Wasn't a spec, then that would mean a contractor Could go get a water truck of pure ocean salt water. Just cause You wouldn't do it, doesn't mean some (or many) others wouldnt.

Yep, 100% I get the overreach argument, but there is also a reason.

We also have the 1 year rule as far as an owner-permittee; and the reason is; it is assumed that if it's sold within 1 year, the Purpose was evading contractor laws. So, "flippers" are really not an owner builder, they are a contractor, doing work for the public; because their work is for the sole intent to sell to the public. If that makes sense

 

[grsthegreat]

It gets complicated pulling owner permit within a year of sale… at least here.

I’ve pulled gas water heater permits for multi-unit property and the fine print goes into great detail about restriction within a year of sale.

Some of the gas water heater replacements with permit and licensed plumber for 40 gallon are in the $2500 range… just a lot of time spent around the permit plus the cost of the permit…

My guess is part of that $1400 is for the time getting the permit and calling in an inspection plus old heater haul away.

Permit…i dont need no stinking permit

 

[paulsharvey]

Not to go Too far off real estate; but 2009, after about 7 months out of work, right after the world ended, got a job inspecting some stimulus sidewalk projects. So, these where not typical road builder contractors, and it "seems" there was an effort to spread the work to some smaller contractors. Anyways, guys working on this sidewalk job were joking/bragging about when they did house slabs, pre apocalypse, of "moving the rebar forward". IE; you get the slab ready, density, plastic and place your rebar and wire; then get a pre-pour foundation inspection. As soon as that passes, you grab all the plastic, wire, and rebar, and take it out and move it to the next house, for it's inspection; and just pour with no rebar/wire.

So, somewhere, in South West Marion County, Marion Oaks subdivision, there are a few dozen homeowners fighting their insurance company on bogus Sinkhole claims; not cause of sinkhole, but a band of crappy thieves intentionally scred them over, and now their house is cracking and settling.