Ep. 71 Chris Vogt – Insurance Hot Buttons For Older Homes In Lancaster City And Beyond
Today I’m in Manheim Borough, PA at the world headquarters of Baron Insurance Group talking to Christopher Vogt about “hot button’ issues for insurance companies when it comes to older homes such as are found in Lancaster City PA real estate or that of the surrounding 18 boroughs of Lancaster County. Getting insurance on a property is normally a pretty painless affair, and many prospective homebuyers simply make a call to their current auto insurance carrier a few weeks before settlement is to take place. However, there have been a number of instances in my 7 years of brokering homes for sale in Lancaster City and the boroughs where the insurance suddenly becomes a “front burner” issue because a problem or barrier to securing coverage is uncovered. Chris reviews some common issues that can trigger concerns on the part of insurance companies – aluminum wiring, knob and tube wiring, galvanized plumbing, outdated roofs and heating systems are just a sampling. These things are quite common in older homes and buyers need to be aware BEFORE they write a contract on the home – there may be a need to include provisions to bring the up to insurable spec. It’s a good idea to have a buyer agent who is familiar with the hot button issues on the insurance side, so you have a professional pair of eyes looking at the house during the initial showings. Also, be sure to include your insurance agent in the pre-offer discussions so as to head off as many surprises as possible. This plus a …
Video Rating: 5 / 5
Categories: Insurance For House Tags: Aluminum Wiring, Auto Insurance Carrier, Beyond, Boroughs, Button Issues, Buttons, Buyer Agent, Chris, Chris Vogt, city, Galvanized Plumbing, Getting Insurance, Heating Systems, homes, Hot Buttons, insurance, Insurance Agent, Insurance Companies, Insurance Group, Insurance Side, Knob And Tube, Knob And Tube Wiring, Lancaster, Lancaster City, Lancaster County, Older, Prospective Homebuyers, Vogt, World Headquarters
Financial Derivatives: What are They? – Housing Bubble Collapse – Unregulated Insurance
Was the lack of regulation on financial derivatives the main cause of our economic collapse? Or was it the easy money that Fanny Mae and Freddie Mac were giving out for home mortgages like there was no tomorrow? I would say that it was both, but there were other factors involved as well.
The way I see it is that there was overregulation on one hand, Fanny and Freddie, while on the other hand there was under regulation when it came to these derivatives.
I believe that this economic crisis we find ourselves in can be laid squarely on the shoulders of our federal government. They were the ones, along with the Feds, who made regulations that provided easy money for the taking, which was the cause of the housing bubble, which would have to collapse eventually, that is why they call it a bubble, because it is unsustainable.
I believe it’s good that they are now proposing regulations on these insane casino style derivatives that have no economic value for our country. I just hope that congress does not do what it is famous for, which is to overreact to a problem, and in the process, make it worse.
jbranstetter04
Duration : 0:9:29