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COLDWELL BANKER SEASIDE REALTY'S DECEMBER '14 AGENT OF THE MONTH!
Heather Sakers
Broker Sales Associate
email me
visit my website
2525996814 (Mobile)
(Office)
In This Issue:
Dare & Currituck County Insurance Rates set to Decrease by 9%!

CBSR DECEMBER '14 AGENT OF THE MONTH!

House Flipping...New Rules with FHA Financing

Agent info
Dare & Currituck County Insurance Rates set to Decrease by 9%!
by Heather Sakers, Coldwell Banker Seaside Realty
Willow Kelly of the Outer Banks Home Builders Association brought fantastic news to us...

RALEIGH -- Insurance Commissioner Wayne Goodwin has ordered a zero percent statewide overall average change in homeowners insurance rates, effective June 1, 2015. The ordered rates vary by geographic territory and type of insurance. On average, homeowners insurance rates are to decrease by 0.3 percent, renter's insurance rates are to increase by 11.2 percent, and condo owner's insurance rates are to increase by 8.1 percent.

The decision comes after Goodwin held a hearing to examine the insurance companies' request to raise overall average rates by 25.6 percent. During the hearing, experts from the N.C. Rate Bureau, on behalf of the insurance companies, and experts from the N.C. Department of Insurance, representing the interests of the public, presented their cases for and against the rate hikes. It was the first hearing on homeowners insurance rates since 1992.

"The rates I have ordered are the result of the most thorough inspection of North Carolina homeowners insurance rates in more than 20 years," said Goodwin. "After considering all of the evidence and data available, I have determined that no factors or events justified the excessive rates requested by the insurance companies."

Effective June 1, 2015, rates for the barrier island portions of Currituck, Dare and Hyde Counties will go down 9%, a savings of about $223 for $150,000 of coverage; rates for the mainland areas of Currituck, Dare, Hyde and Pamlico Counties will do down 8.9%, a savings of $189 for $150,000 of coverage. The NC Rate Bureau had requested a 35% increase for barrier island territories and a 10% increase for inland northeastern coastal territories.
House Flipping...New Rules with FHA Financing
As of December 31, 2014, you can no longer resell a single family home within 90 days that was purchased with FHA financing. The FHA announced that the temporary waiver of FHA's regulation that prohibits the use of FHA financing to purchase single family properties that are being resold within 90 days of the previous acquisition expired on December 31, 2014. This applies to all sales contracts that were fully executed by 11:59 PM on December 31, 2014.
CBSR DECEMBER '14 AGENT OF THE MONTH!
I finished the year strong as the Coldwell Banker Seaside Realty Agent of the Month for December 2014. I am in the top 3% of all agents on the entire Outer Banks based on total sales volume with over $13 million in sales for 2014! Thanks for such a successful year, and I know 2015 will prove to be even better!
Heather Sakers
Broker Sales Associate
Coldwell Banker Seaside Realty
4900 North Croatan Hwy, PO Box 1860
Kitty Hawk, NORTH CAROLINA 27949
email me
visit my website
2525996814 (Mobile)
(Office)
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