Contact Elizabeth Carter, 336.973.5594 or Greg Stikeleather, Broker, 704.880.5247 or email eacarter@charter.net

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We’re all used to fact that life is never fair. Take it as another Murphy law. Just when you think you have hit rock bottom and things cannot get any worse, they get worse. You would have thought that a recession would mean premium rates would stay the same. In your dreams, you might have hoped for the rates to fall. After all, there’s massive unemployment – maybe it’s hard to believe, but it’s the worst level of unemployment for more than sixty years. With household incomes falling and no job security, this is not the time to find premium rates increasing. Yet when those premium notices drop into your mail boxes, the evidence is there. And it’s not just you. Premiums are going up for most drivers. This is so unfair! All but three states in the union have mandatory liability insurance. For everyone who wants to stay legal on the roads, the price of driving is getting to deterrent levels. First it was the price of gas shooting up like a rocket. Now it’s those premiums! What’s going on?

There are two quite different problems coming together at the same time. One comes from the general downturn in the economy. The other is connected with the system of regulation for the insurance industry. On paper, the companies have an easy ride. They collect in the premiums, receive the claims, pay out on the claims and keep the balance as profit. Except the worst recession in decades caught them off guard. It all comes down to what insurers should do with the money they have collected in. Their answer was to invest most of it in the stock market. That way, they earned dividends and got capital growth until it was needed to pay out on the claims. But some invested in these new securitized bonds based on mortgages and other loans. So, when both the property and the capital markets were hit, insurers found themselves with big losses. Under normal circumstances, this would not have been a problem, but the insurance industry has to play by different rules.

It’s ironic that a rule designed to protect consumers should be pushing up the premiums so fast. Who would have thought the car insurance industry would lose so much of the money they had invested. After all, they employ all these clever people called actuaries to measure the risks for writing policies. You would think they would have seen the risks of some of the investments they were making. Yet, like most of the other investment managers, the insurers were taken by surprise. The result is that, overnight, many were close to not having enough money to pay out on your policies. That was and remains a serious problem. That’s why the auto insurance industry is asking you all for more money.

The Malone Bay community features 18 lots at W. Kerr Scott Dam & Reservoir. Fourteen (14) are Lakefront and meet private dock requirements. All lots have access to public water, saving owners from $5,000 to $10,000 on drilling a well. These lots have public water and will save you the cost of drilling a well. The entire development also features underground utilities.

This is a gated community with lots ranging from 2.3+- acres to 6.8+- acres on the Hwy 421 side of the lake just off South Minton Road, Wilkesboro, NC 28697

W. Kerr Scott Lake is 1500 acres with 50 miles of shoreline and is controlled by the US Army Corps of Engineers. It is clean water with good fishing and is excellent for boating, kayaking, skiing, and swimming. The property is surrounded by National Parks. Wilkesboro is a beautiful community and town with friendly people. It is located just 40 miles east of Boone and Blowing Rock, NC and one and a half hours northwest of Charlotte.

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HUD just changed its condominium rules again, and there’s both good news and sobering news for investors and developers tucked away in the revisions. On the one hand, HUD relaxed its previously controversial requirement that at least fifty percent of the units in a project be sold before FHA could insure loans for new buyers on individual units.

Under the amended rule, FHA financing will be available in projects where at least 30 percent of the existing units have been sold. That change is important, say developers and investors, because many newly-constructed projects have had trouble pre-selling units in the current tough real estate market. Read more »

Waterfront on New River

Heritage Estates Lot 46. 1.3 acres. 100 feet on the river. Anchored gazebo stays. Septic permit. Shared well. Graded and ready to build on. Paved road.

MLS Number: 54345
List Price: $110,000

Very nice lot on New River. Good neighborhood, paved road to lot. Over 100′ on river, has a new gazebo anchored on lot that stays. Septic permit has been pulled as per seller. Grading has been done and shared well on lot. Ready to build on.
Ashe County
Lot Size, Apx Acreage: 1.37
Type: Waterfront
Suitable Use: Residential
Topography: Level, Stream/Creek
Utilities: Total Electric
Water/Sewer: Community Water, Septic Tank
Road Frontage: Private Road, Paved Road
Miscellaneous: 1-5 Acres

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The majority of policy holders will go through the year without making a claim. It’s possible a major weather disaster could suddenly take out an area, but the actual risks of fires, thefts and accidents around the home are relatively low. Even high-crime areas do not produce excessive numbers of claims. That’s why, when the anticipated cost of all the losses is spread among the policy holders, the premiums are not too high. That said, people find the claims process confusing, so here are some simple steps to keep technical problems to a minimum.

1. If a crime has been involved, notify the police immediately and cooperate with the investigation. Your insurance company will want full details of the investigation so keep good notes of the names and contact information for the officers who deal with it. Notifying the police also reduces the risk in the eyes of the insurer that you are making a fraudulent claim. Liaise with the police to get copies of any witness statements, police reports, fire department reports, and so on. Alternatively, be able to pass all the police or fire department contact details over to the insurer.

2. Never delay notifying the insurance company or your local agent that you have suffered a loss. There are a whole series of processes that have to be set in motion to handle the claim. If the loss is minor, your local agent will usually deal with it directly. Anything more serious will go through the claims office. At the earliest possible opportunity, confirm who will liaise with you and how you contact that person.

3. Depending on the circumstances, it’s possible that emergency repairs are necessary. Most insurance companies operate a list of contractors approved to make these repairs. Many contractors can bill the insurers directly. If emergency repairs are necessary, get the necessary paperwork to authorize the work from the insurer at the earliest opportunity.

4. Document every aspect of the damage to your property or the contents. That means taking photographs or a video, and keeping a diary of all the events so you can write up a full report for the agent or claims adjuster. The key issues are the value of property damaged or lost, and the cost of repairs. Hopefully, you have kept the receipts for all the bigger ticket items to set a baseline value.

5. Deal with the home insurance company in writing as much as possible, keeping copies of letters and e-mails. If you speak to people by telephone, keep records of the date, time, the person you spoke with and a summary of what was said. This will help you if there is a dispute later on in the claims process.

6. Ensure you are present when the agent or claims adjuster comes to inspect your property and point out all the damage. Again, keep notes of what is said.

7. The home insurance company will make an offer of settlement. Take advice on whether the amount offered is fair. If building work is involved, talk to the building contractor. If you think the insurer is trying to take advantage of you in some way, discuss the issue with the insurance department or commissioner for your state.

The Malone Bay community features 18 lots at W. Kerr Scott Dam & Reservoir. Fourteen (14) are Lakefront and meet private dock requirements. All lots have access to public water, saving owners from $5,000 to $10,000 on drilling a well. These lots have public water and will save you the cost of drilling a well. The entire development also features underground utilities.

This is a gated community with lots ranging from 2.3+- acres to 6.8+- acres on the Hwy 421 side of the lake just off South Minton Road, Wilkesboro, NC 28697

W. Kerr Scott Lake is 1500 acres with 50 miles of shoreline and is controlled by the US Army Corps of Engineers. It is clean water with good fishing and is excellent for boating, kayaking, skiing, and swimming. The property is surrounded by National Parks. Wilkesboro is a beautiful community and town with friendly people. It is located just 40 miles east of Boone and Blowing Rock, NC and one and a half hours northwest of Charlotte.

Lot #10

MLS Number: 54632
List Price: $450,000
Lot Size: 2.8 acres
WATERFRONT, PRIVATE DOCK PERMIT, GATED COMMUNITY, PUBLIC WATER, UNDERGROUND UTILITIES
Wilkes MLS Area 2
Suitable Use: Residential, Single Family
Topography: Rolling, Lake/Pond, Exceptional View
Utilities: Underground Utilities
Water/Sewer: Public Water, None-Sewer
Road Frontage: Private Road, Paved Road, Road Maintenance Agreement
Miscellaneous: 1-5 Acres, Hardwoods
Location: Malone Way

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Houses in dark spot areas and insurance rules basics

If your surroundings are not too promising in terms of weather conditions when the wind is practically blowing in your ear all the time and raindrops keep falling down on your rooftop there is a very good chance that you might have to pay extra for your house insurance. England is famous for its rains and floods that have taken over the country lately have ended up costing millions and millions of pounds in claims. This fact, of course, could not be ignored by the insurance companies that have already stated that premiums will be raised not only in England but all around UK as well.

New statistics on house insurance have shown that over 90% of insurers guarantee that the premiums in flood-prone zones will be significantly higher if authorities do not begin the flood-protecting process in the nearest future. According to some other researches if this actually takes place, insurance companies may raise the premiums despite of the area and it will create a fuss on the insurance market. Those who live in flood-free zones are not likely to receive any benefits even if it makes sense to do so.

Insurers nowadays like to blame everything on the authorities. They defend their heart-breaking prices by telling the world that the Government doesn’t want to commit to the flood-protection plan enough to help citizens get rid of the problem that can ruin their home and lives. The Government says that they are taking it step by step in order to offer the citizens a good flood-protection program.

Here are some of the notes you might want to take: Don’t give in to it…

If you don’t know exactly if your zone is considered a “black spot” by house insurers or if you are planning on buying a new house and you can’t choose the right are, you should be able to check the Environment Agency webpage and get your answer. But this information can be confidential so don’t expect to receive all the details this easily. But you can always check it with the house insurers because they should be competent enough to answer any questions related to homes.

Get steady

Weather is something you can’t predict or control. You can save yourself from a risk by getting a flat in a flood-free area but even there you don’t know what might happen. Disaster proofing is a perfect solution for those who are afraid of home damage or any other sort of catastrophe that has nothing to do with a person. If your zone is rainy and windy, install windows that will guarantee you maximum protection. You have to make sure you do enough to prevent any damage.

Get yourself covered twice

It is not easy to find a good solution. Cheap home insurance is not something you can find with a clap of your hands. But the one that seeks will find. If you don’t feel like you are protected enough with your coverage, get yourself another one. One is always better than none and two is always better than one. You can get a cheap home insurance with the company that you already deal with if you have your car insured or health insurance, for example. This could definitely help your premiums. But it is always best to shop around and look for other offers as you never know what you may find. And remember to read quotes – they are important too.

Contact Elizabeth Carter, 336.973.5594 or Greg Stikeleather, Broker, 704.880.5247 or email eacarter@charter.net

click here for more information