News: News
30 days to hurricane season: time for flood insurance
The Atlantic hurricane season starts June 1 - 30 days from now. Since flood insurance takes 30 days to become effective after a homeowner applies, today marks Floridians last chance to get flood insurance by the June 1 debut.
"Past hurricane seasons have shown that storms can form as early as the beginning of June, so property owners can't afford to wait to buy flood insurance," says Ed Connor, acting federal insurance administrator and acting assistant administrator, FEMA Mitigation Directorate.
Many homeowners still wrongly believe that their property insurance policy will cover all damage from a hurricane.
Florida Analyzes Chinese Drywall
How can you tell if a listing has Chinese drywall? It's a simple question without a simple answer. The Florida Department of Health has a Web site section devoted to the problem, however, and it updates information as it comes in.
Since it helps to understand what kind of damage tainted Chinese drywall can cause, one section, "Case Definition with Pictures," includes photos of mirrors, pictures, pipes and other household items impacted by the drywall.
The Web site also explains how the state plans to deal with the problem and includes details on how to file a complaint. For more info, visit the site at: http://www.doh.state.fl.us/Environment/community/indoor-air/drywall.html.
Consumer advisory: Avoid Chinese drywall scammers
In every crisis, a handful of unsavory characters will take advantage of worried homeowners. Yesterday, Florida Attorney General Bill McCollum issued a consumer advisory against "experts" offering help with Chinese drywall problems.
At least two types of fraudulent activity involving the defective drywall have been reported to the Florida Attorney General Bill McCollum's Office by individuals in the building industry: bogus tests to determine the presence of the product and quick cure remedies that falsely claim to remove the corrosive properties of the drywall.
According to reports, defective Chinese drywall in a home causes black corrosion to appear on copper air conditioner coils and non-insulated copper wiring. If the air conditioner coils are corroded black, there is a strong likelihood that defective imported drywall is present in the home. Most homes that contain defective imported drywall were built between 2004 and 2008. Other homes probably do not have Chinese drywall.
First-time homebuyers must close by Nov. 30 - contract not enough
If first-time homebuyers wait until November to sign a sales contract, it's probably too late to get the $8,000 tax credit. To qualify, buyers must close before Dec. 1 - a signed contract is not enough. New construction should be started by mid-summer to qualify.
According to the National Association of Realtors, a "home is considered as 'purchased' when all events have occurred that transfer the title from the seller to the new purchaser. Thus, closings must occur before December 1, 2009 for purchases to be eligible for the credit."
Noting that deadline, the National Association of Builders kicked off a campaign notifying buyers that if they want the tax credit, they should plan to sign a construction contact soon.
