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Re: And you thought your home ins was expensive...
Old 06-29-2006, 08:44 PM   #21
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Re: And you thought your home ins was expensive...

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Originally Posted by ladelfina
We sold for about $600k in Boston and bought for about $550k in Tuscany, thinking we were a bit ahead of the game. ...
--P.S. My (ill) mother is the proud owner of a lot in Ft. Meyers, FL, which my grandfolks bought back in the '60s as a potential "retirement" scenario. ( I gather there was a lot of this speculation going on..) No one in our family has even seen it!!
tuscany. just the sound of its name. you have no idea how jealous i am.

you should do well on the fort myers property, especially if waterfront & deepwater at that. i know those went up quite a bit there & in nearby cape coral. but not as much as naples to make bubbling as big a fear. i've even heard on a few different venues that there's room for more increases on property values there. (though those would all have come from the non-bubble camp).
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Re: And you thought your home ins was expensive...
Old 06-29-2006, 09:27 PM   #22
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Re: And you thought your home ins was expensive...

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Originally Posted by lazygood4nothinbum
tuscany. just the sound of its name. you have no idea how jealous i am.
: Come on by!

I am usually embarrassed to say "Tuscany" as it is such a cliché. We ended up here by chance, not by design, as DH was supposed to start up a partnership with a Roman colleague who happened to have a vacation home on the other side of Monte Amiata and was going to chuck it all in in the big city and join him in a startup in "the boonies". That didn't happen, so he's making the best he can of it on his own. We're in Sarteano because it was where we could find the only decent single-family house available in a land of apartments and ruins of old 'casali'. (Want a re-development project? Here there are loads.)

When I'm feeling 'dreamy' I look at the map of Italy and realize that a romantic-sounding name like "Montalcino" just means Oak Mountain, "Baia Verde" = Green Bay,* "Fiumicino" = Little River.. that's what Italians hear!

---
Ft. Myers waterfront? Not that lucky.. it's kind of in the middle of the main residential area, it appears, across the street from some whopping big church. Again, since it's a "hand-me-down" lot, whether we get $50k or $500k is immaterial. As long as it is non-zero! The prop. taxes have been kept up on it. but I'm amazed they let vacant lots just sit there. In NE, you'd probably have the city whining that you'd have to clear it or that it's a 'nuisance'. Every so often mom gets letters from local FL RE agents, but she bins them. Dunno why, since she has never had any interest in even visiting the lot to see it (though Ft. Myers looks like a nice place), much less building a house and/or moving there.

Last year I sent her the books from the BBC series, "Life Laundry", a great reality show about de-cluttering. Who knows if they address the "clutter" of excess RE?

--
P.S. "Monte Amiata" is, I've heard, a contraction of Monte Amianta or.. Mount Asbestos. The big industry was copper and asbestos mining.

I did find a (low-quality) truffle in our backyard though! Haven't dared to eat it yet.
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Re: And you thought your home ins was expensive...
Old 06-30-2006, 06:47 AM   #23
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Re: And you thought your home ins was expensive...

Quote:
Originally Posted by lazygood4nothinbum
ya, east of i-95 here. they say we are more at risk but it is really such hype as it depends on where the wind blows that day. as florida has long been home to sun & scam, we are also getting scammed by the insurance companies. the panhandle probably gets hit more by canes than us but our rates are the highest. could it be because they smell more money here?

as to citizens subsidizing. not quite so. it is the insurer of last resort and they charge, by law, the highest rates in the state. well, at least that was true until recently. since orlando & tampa have been joining citizen, they've found themselves rather overexposed.

so now (& i just learned this) they are dumping 20% of their customers. sure hope i'm not one. a friend i just spoke to (investigating the claim of that times article), unfortunately got snagged.

there are two or three companies which citizens is dumping us on. these companies are allowed to raise rates 130% to 150% higher than even the insurer of last resort. supposedly some of this money is then kicked back to citizens. you can get back into citizens but only if you wind up without insurance for 2 years. not good.

income tax? funny. solution: don't work.
I can sympathize with you, but I don't see any end to increasing FL insurance rates in the next 5 years. Even companies which jacked up rates 150% prbably still cannot afford adequate reinsurance, assuming they found anyone willing to sell it to them (at any price). As for how bad it can get, well, there was a time not that long ago when 75 to 90% of auto insurance in NJ was being provided by the insurer of last resort. Guess what that cost?

As I understand it, Citizens is backed by the state gummint, right? If so, taxpayers are ultimately on the hook for losses that aren't covered by premiums. Take your pick: pay via taxes where everyone foots the bill, or pay via insurance premiums where those that generate the risks pay for them. Either way, someone is going to pay.
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Re: And you thought your home ins was expensive...
Old 06-30-2006, 09:35 AM   #24
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Re: And you thought your home ins was expensive...

Seems like everyone wants to jam the word 'tuscan' into every food product being made. I read an article by Mario Batali who said nobody who knows better wants to eat in tuscany as its considered one of the least attractive options in the region. But the name sounds good...heck, you could even jam it into a movie title...
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