Friday, September 21, 2018

Flood Insurance Program Still Threatened

If you buy a property in the flood plain, your lender will require flood insurance. The National Flood Insurance Program (NFIP) was scheduled to expire July 31, 2018. Trump delayed its expiration through November 30, 2018. Gee, do you think that date has anything to do with hurricane season and mid-term elections? After that, Congress has to reauthorize it. If they don't, you won't be able to buy flood insurance, so you won't be able to buy or sell a house in the flood plain unless you pay cash.  

This Wikipedia article discussed the history and problems of NFIP.

These two statements from the Wikipedia article on NFIP are particularly disturbing:

The cost of the insurance program was fully covered by its premiums until the end of 2004, but has had to steadily borrow funds since (primarily due to Hurricane Katrina and Hurricane Sandy), accumulating $25 billion of debt by August 2017. 

Another criticism is that FEMA doesn't administer all policies, instead outsourcing many policies to private insurance companies. When a disaster occurs, FEMA makes payments to those private insurance companies to offset their costs. However, there is little oversight and few rules as to how the money should be distributed. As a consequence, private insurers have been known to use FEMA payments to hire attorneys that fight policyholders in court. One law firm is estimated to have received US $29M from FEMA payments to fight Hurricane Sandy claims. 

Friday, August 31, 2018

Armory Park del Sol

Just a few blocks south of our revitalized downtown, in a lovely neighborhood where mature trees shade car-free side walks, you'll find the unique Armory Park del Sol. 
Built in 2001, the homes have 100 year old charm with modern conveniences. The Bungalow, Pueblo & Victorian-style homes were inspired by the surrounding historic neighborhood. 
Beautiful oak floors. Nine foot ceilings. 
Maple cabinets. Energy-efficient thermal mass masonry construction. Dual pane windows. Solar electricity. Tankless water heater. Trane heat pump. Central vacuum cleaner. 
No-step entry and wheelchair-accessible doorways and shower. Tiled bathrooms.Grapefruit tree in front yard. Secluded back patio. Grape arbor outside the kitchen door. 
Two-car garage faces the alley, while the front porches of the homes open to the quiet walk way to encourage a feeling of community.
The floor plan is here. Offered at $325,000.

Tuesday, July 31, 2018

New Listing in Popular East Tucson Neighborhood

Great cul de sac location, next to common area. 
Around the corner to community pool and playground with swings, slide, jungle gym, ramada and basketball hoop. 
Home has two covered patios. Wrap-around yard. 
The red and yellow are gone, replaced by a fresh coat of white. Spacious living room has soaring ceiling, fan, skylight, and great mountain view. Gas fireplace. Tile and wood floors throughout. 
Kitchen has stainless steel gas stove, granite counters and breakfast nook. Dishwasher new in 2016. Formal dining room. Master suite has door to back patio, double sinks, walk-in closet plus bonus closet. Hall bathroom has skylight. 
Central AC and gas furnace new in 2016. New kitchen sink, faucet, disposal and under-sink plumbing in 2017. Gates replaced in 2015. Raised planters and clementine tree. Three bedrooms, two baths, two car garage. Sold for $212,000 on September 6, 2018. Home Sweet Home.

Thursday, July 26, 2018

Flood Insurance Program Threatened

FEMA, the federal agency that provides flood insurance to homeowners living in the flood plain, is deeply in debt because of numerous major floods in recent years. Mortgage companies require flood insurance for homes located in the flood plain. The flood insurance program will expire July 31 unless Congress re-authorizes it. The House has passed a bill that will allow FEMA to write insurance policies effective for one year for four more months. The bill may not pass the Senate. Some Republicans contend that if FEMA makes flood insurance unobtainable, homeowners will be  unable to sell their flood-prone homes, and after the dust settles from all the foreclosures and bankruptcies, no one will be living in the flood plain and all will be well. Unfortunately, with climate change, floods are occurring where they never occurred before. The sea level is rising, and properties near the ocean that didn't use to be in the flood plain are now flooded on sunny days at high tide.

Wednesday, July 25, 2018

Tucson #1 of Dog-Friendly Cities

SmartAsset has declared Tucson the most dog-friendly city in the county. They ranked cities based on number of dog parks, dog-friendly restaurants, home prices, weather and other criteria. One more reason to love our Sweet Desert Home.

Thursday, July 19, 2018

Tidy Home or Great Investment Property

Sweet, secluded, second floor treehouse condo. Set back from Speedway. 
Private balcony with storage overlooks a lovely palo verde tree. 
Security doors protect your bicycle and/or patio furniture. Tile floors throughout. Living room is open to the kitchen.

Pantry, electric stove, microwave, reverse osmosis, dishwasher and refrigerator. Laundry closet with washer and dryer included. Master bedroom has walk-in closet. Both bathrooms have tub and shower. 
Ceiling fans in master bedroom and living room. Coat closet in foyer.
Nicely landscaped complex with spa and seasonally-heated pool. One covered carport space (#59) and lots of open parking. Only two blocks to Fry's and Walgreen's. Right across the street from the fabulous Mesquite Valley Growers. Even if you never buy a plant, strolling through this nursery is like a delightful visit to a botanical garden.

Sold for $75,000 August 13, 2018. HOA fee is $164 per month and includes garbage collection, water and  roof and exterior building maintenance.

Continental Ranch Home

Immaculate, move-in ready home in a fabulous neighborhood. 
Great room with high ceiling and gas fireplace is open to the spacious kitchen with a bay window in the breakfast nook, reverse osmosis water filter and cabinets with pull-out shelves. 
Formal dining room plus living room. The great room is through the door to the right.
Master suite in its own private wing has a bay window, luxurious bathroom and huge walk-in closet. New laminate wood flooring in master bedroom and public areas. Neutral carpet in the other three bedrooms. 
Tandem garage has workshop with cabinets and still has room for a small third car or toys. Whole-house water softener. 
Back porch with mister. Easy access to over 120 miles of car-free walking and biking on The Loop, following a landscaped path along the city's rivers. 
Two parks provide community pools, lap and kiddie pools, splash pad, basketball, tennis, skating, ramadas. All that fun, with a low $27 per month HOA fee. 

The interactive floor plan is here. Sold for $268,000 August 20, 2018.