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Dare & Currituck County Insurance Rates set to Decrease by 9%! |
by Heather Sakers, Coldwell Banker Seaside Realty |
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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.
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House Flipping...New Rules with FHA Financing |
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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.
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CBSR DECEMBER '14 AGENT OF THE MONTH! |
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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!
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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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© 2014 Coldwell Banker Real Estate LLC. All Rights Reserved. Coldwell Banker Real Estate LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each Office is Independently Owned and Operated. Coldwell Banker, the Coldwell Banker logo, Coldwell Banker Previews International and the Coldwell Banker Previews International logo are registered service marks owned by Coldwell Banker Real Estate LLC in the United States and by Coldwell Banker LLC in Canada. Each sales representative and broker is responsible for complying with any consumer disclosure laws or regulations. In Canada, any use of the term "sales associate" or "agent" herein shall be replaced with the term "sales representative". Nothing in this document is intended to create an employment relationship with the Coldwell Banker office or Coldwell Banker Real Estate LLC. Any affiliation by you with Coldwell Banker is intended to be that of an independent contractor sales associate.
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An Equal Opportunity Company Equal Housing Opportunity
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