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Homeowner's insurance hang-ups

By Dian Hymer, Monday, February 2, 2009.

After paying out huge settlements to clean up mold damage, homeowner insurers pulled back from issuing new policies on homes where a water damage claim had been made within the last five years.

They also minimized their exposure to mold claims by excluding mold coverage altogether or limiting their coverage. Currently a common cap on such claims is $5,000, although this can vary from one company to the next.

Some insurers are less concerned about water damage claims today. However, they are concerned about the profile of the insured.  more...

Landlocked property a nightmare to sell

By Benny Kass, Monday, February 2, 2009.

DEAR BENNY: My stepfather bought a piece of property many years ago, and he and my mother have been using a road that goes through a big field to exit their property for the last 15 years. My stepfather's first wife got a right-of-way, but it was never filed in the courthouse. Now my mother and stepfather need to sell the property (which is landlocked without this right-of-way) and the neighbors won't agree. My parents live on Social Security and barely have money to buy food and pay insurance costs.  more...

Think global, think video Premium Content

By Bernice Ross, Monday, February 2, 2009.
Flickr photo by <a href="http://flickr.com/photos/18967167@N00/2381055837/" target=blank>VideoVillain</a>.

Direct from Real Estate Connect in New York City, here's what the real estate industry's most talented leaders had to say about two of the most important trends that will reshape your business in 2009.

1. Put it local but take it global
Most real estate agents distribute their listings to as many local sources as possible. The latest trend, however, is to "put it local, but take it global." On average, agents who have international clients make 50 percent more than other agents do. Furthermore, if you have an international client, there is a 50 percent chance they will actually close a transaction.  more...

Housing fixes fall short

By Jack Guttentag, Monday, February 2, 2009.
Flickr photo by <a href="http://flickr.com/photos/sixthworld/3051194260/" target=blank>Thomas Ott</a>.

The government's efforts to combat the worst financial crisis since the 1930s can be divided into three phases. Phase one, executed in good part in catch-as-catch-can fashion, was directed toward shoring up financial firms that were undercapitalized and had lost the confidence of their creditors. The goal was to prevent their failure, which would have made the crisis worse -- far worse.

Phase one is still far from over, new flare-ups continue to arise, and new approaches for recapitalizing banks are being considered.  more...