Tuesday, December 4, 2012

Flood Insurance Becoming More Expensive

Private insurance companies do not offer flood insurance for properties that are in the flood plain. Using tax payer funds, the National Flood Insurance Program provides subsidized flood insurance. The program borrowed $18 billion to pay claims from the Katrina hurricane, and had just $3 billion in borrowing power left prior to the Sandy super storm, which could require $6 to $12 billion in payouts.

Flood insurance premiums will increase an average of 20% in January on second homes and businesses. Houses built before there was a NFIP have rates that are half those of new construction. The discounted policies will be gradually eliminated through annual 25% premium increases.

Read more in this New York Times article.

Sunday, December 2, 2012

1307 S Harmon Lane

You've got it made in the shade on your private patio.
The lodge pole ramada with corrogated metal roof and big old mesquite tree create your serenity space.
Lots of trees in the common area near the community pool complete your desert oasis.
Just outside Starr Pass Resort, and only 10 minutes from downtown.
Close to hiking and mountain biking in Tucson Mountain Park.
Check out the interactive floor plan here. A bedroom wall was removed to make a family room with French doors, a fireplace and dining area open to the kitchen. The original living room is still in the front of the house. Potential third bedroom?
Perfect for first time buyers, investors, or your vacation hideaway.
Homeowner's association fee is $132 per month and covers common area, building exterior and front yard maintenance, roof, termite control, water, and trash collection. Sold for $100,000 March 15, 2013.