I’m Maji Pace Ramos, and in today’s Maji’s Market Minute, we’re going to discuss what I consider to be one of the biggest issues in our current real estate market… the insurance crisis.
I mentioned this during a presentation I gave last week that will be on my blog probably next week. Basically the insurance crisis is a very big issue.
Two days after that presentation, Coldwell Banker, the largest real estate company in the world, changed our addendums with changes referencing these issues. The Florida Association of Realtors, which prepares our legal contracts, will be changing the standard contracts probably in the next month or two.
Lenders are changing their guidelines, and insurance companies are as well. This is a big issue.
What does this mean? If you are thinking about selling, get in the game. This is a super complicated market, and I know it well.
If you need any assistance or have any questions on this topic, please reach out.
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