Monthly Archives: May 2013

Mortgage Rates Spike Then Slide

Mortgage rates climbed at the fastest pace in two months last Friday, May 3 as a result of the just released “Employment Situation Report” for April. This report which is a product of the US Bureau of Labor showed that unemployment decreased by 673,000 since the beginning of the year. Good news in the job market tends to cause lending rates to increase….

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Flood Insurance Rate Change Coming

Flood Insurance. Get ready! The National Flood Insurance Program will be raising rates October 1, 2013. Will you be affected? Will there be additional rate hikes coming to the coast? In 2012, the U.S. Congress passed the Flood Insurance Reform Act of 2012 which calls on the Federal Emergency Management Agency (FEMA), and other agencies, to make a number of changes to the way the NFIP is run…

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Homeowner Insurance Rates to Increase

Homeowner Insurance Rates. On March 5, 2013 Wayne Goodwin, North Carolina Insurance Commissioner signed an agreement with insurance companies allowing a statewide rate increase of homeowner insurance of on average 7 percent. The actual rates vary tremendously according to individual territories within the state. The North Carolina Rate Bureau, which represents the insurance companies, had requested an overall statewide….

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April, 2013 Real Estate Market Report

During the month of April beach water temperatures along the Crystal Coast always jump up 5, 7 even 10 degrees within a very short period of time. Not only does this rapid increase in water temperatures signal the beginning of great fishing along our coast but it is also the harbinger of things to come in regards to real estate. This past April was no different. There were a total of 122 residential properties sold during April…

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Coastal Property Insurance Pool

The Coastal Property Insurance Pool, formerly known as the Beach Plan, was created in 1969 by the North Carolina General Assembly to provide an adequate market for essential property insurance, ensuring the economic welfare of the beach and coastal areas of North Carolina. The Coastal Property Insurance Pool is not a facility of North Carolina state government; however, the plan of operation is subject to…

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