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What to expect in 2025: Securing customer insurance in a volatile real estate market

Housing Wire

The year 2025 will be transformative for real estate. Rising personal home insurance rates, fueled by escalating claims costs, increasing property values and the growing frequency of natural disasters, will all have a profound impact on market dynamics and homeowners insurance costs.

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Climate risk is rising. It calls for a rethinking of home insurance coverage

Housing Wire

It’s resulting in calls to reimagine the costs of homeowners insurance (Image generated by AI in Midjourney) As the planet warms and extreme weather intensifies, the rising cost of homeowners insurance is stopping real estate deals in their tracks. Their study included data across more than 9,000 ZIP codes.

Insurance 482
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Higher insurance premiums are a shoo-in after the LA wildfires

Housing Wire

The looming impacts on real estate and insurance are also at the forefront of Californians minds. … From a business standpoint, this is another challenging thing in the LA real estate market. Obtaining home insurance in California has been a longstanding issue. Who’s bearing the risk?

Insurance 418
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Climate risk could take $1.5 trillion out of U.S. real estate

Housing Wire

Recent natural disasters such as the LA wildfires show that climate change risks can shift the real estate and mortgage industries on a dime. real estate market. First Street’s report projected a jaw-dropping loss in real estate values over time. And these changes could be extremely costly.

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Real estate investors purchased 16% of homes in Q3 2024

Housing Wire

The Seattle-based brokerage found that real estate investor purchases dropped by 2.3% According to Redfin, an investor is “any institution or business that purchases residential real estate,” which includes both institutional and mom-and-pop investors. As the U.S. Investors purchased $38.8

Investors 488
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The Importance of Flood Insurance Education

Appraisal Buzz

How important is flood insurance?Homebuyers If the property is in an SFHA, lenders will require flood insurance prior to approving the loan. However, flooding is not covered by a typical homeowners insurance policy. If the delay is too long, some contracts may expire, leading buyers to renegotiate or back out of the deal.

Insurance 389
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Texas orders cut to title insurance premiums

Housing Wire

A 10% reduction in title insurance premiums was recently ordered by the Texas Department of Insurance (TDI), with the regulator citing profit ratios that were deemed to be excessive. According to the order, TLTA advocated for no changes to title insurance premiums while OPIC recommended a reduction of 8.9% between 2003 and 2022.

Insurance 387