Now comes a story out of Florida serving as an example of how the current NFIP system is being abused, shifting the burden of flood insurance away from million-dollar beach homeowners and onto taxpayers.
FEMA is asking Congress to rewrite the Flood Insurance Reform Act to prevent flood insurance rates from soaring to new heights. In its current state, the act includes no provisions for affordability, the agency claims.
People are listening to real estate economists today in a way that anyone who covered the industry a decade or more ago would not recognize. Smoke is one of the members of this new wave of real estate economists. In fact, Smoke is actually the newest one on the block. The upstart economists at places like Trulia and Zillow are still new, Smoke is just the latest player to join the game..
Typically, for a process and a product that depends largely on human effort, if you want a higher quality product, you have to pay more. The best doctors, chefs, mechanics and attorneys all make more than the market average. Nevertheless, lenders, AMCs and Fannie Mae all expect appraisal quality to increase even as appraiser fees decrease. Read More