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INSURANCE AGAINST FALLING VALUES FOR HOMES? A CURE FOR "SKITTISH" BUYERS?

By Bradenton, Sarasota, Real Estate ~ The Serena Group

Real Estate Agent with Bradenton-Homes, Experts - Keller Williams Realty

June 27, 2009 04:12 AM

home value insurance The chairman of MOVE, INC. (Realtor.com),Joe Hanauer, has been lobbying in Washington with a proposal that poses a solution to the question:

If home buyers had insurance to protect them from falling home values woud it give the needed "boost" to home sales that is needed to breathe new life into our failing economy?

He’s suggesting that the US government offer the insurance as a supplement to the "housing bailout."

WHAT DO YOU THINK OF THIS IDEA... DOES THE COST JUSTIFY THE BENEFITS... and how effective do you think it would be?

Follow the link to read the details of Joe's proposal.

......MORE HERE!

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C Tann-Starr

Tann Starr & Associates, Inc. - Palm Bay, FL

It would be cost prohibitive in the long run and I am amazed that someone would place something so speculative and subjective on the table. Can you imagine the fancy math that will keep the insurance companies from making payments on loss of equity housing claims?

How about declining neighborhood factors? If a zip-code is already in decline, would it be fraud to take insurance out on something already in progress to seek a payday?

Remember pre-existing medical conditions always equate to more expensive policies or no coverage. What are they going to do with pre-existing declining neighborhoods? This is a nightmare on elm street housing move.

Jun 28, 2009 02:25 AM

INSURANCE AGAINST FALLING VALUES FOR HOMES? A CURE FOR "SKITTISH" BUYERS?

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