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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: house in arrowhead Posted by Lilly on November 02, 2003 at 1:04 PM In Reply to: Re: house in arrowhead posted by Jk on November 02, 2003 at 8:08 AM : : A house I own in Lake Arrowhead Ca. is (as far as I know) still in escrow (my agent was evacuated and I can not reach her.). Because of the fires there is a moratorium on new fire insurance policies in that area. This may put a snag in closing escrow. I am trying to think of a solution to keep this deal together. I hear the moratorium is going to be up for 60 days. I am considering offering the buyer a lease option, just to keep them interested until after the moratorium is lifted. Or, my other alternative is to let the escrow fall through and just rent it out. What will this fire do to the market up there? Any other ideas or advice? : OK, here is some pure speculation... The fires may temporarily depress prices as no one wants to live next to ashes, but in the long run it will improve values. There will be tremendous construction and rebuilding. Alot of old run down homes will be replaced with shiny new ones. Everyone will forget that there ever was a fire. If you don't believe this theory, drive through the part of Cerritos, California where the airliner crashed some time ago. The prices are sky high and the homes are beautiful. : : Thanks for the positive outlook. We are praying for this exact thing. I'm hoping that our escrow can survive this. We were scheduled to close the end of December. Maybe by then, the fire insurance will be available again. I wonder how long after the Northridge earthquakes did the insurance companies start issuing new policies? Just Curious. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : : A house I own in Lake Arrowhead Ca. is (as far as I know) still in escrow (my agent was evacuated and I can not reach her.). Because of the fires there is a moratorium on new fire insurance policies in that area. This may put a snag in closing escrow. I am trying to think of a solution to keep this deal together. I hear the moratorium is going to be up for 60 days. I am considering offering the buyer a lease option, just to keep them interested until after the moratorium is lifted. Or, my other alternative is to let the escrow fall through and just rent it out. What will this fire do to the market up there? Any other ideas or advice? : : OK, here is some pure speculation... The fires may temporarily depress prices as no one wants to live next to ashes, but in the long run it will improve values. There will be tremendous construction and rebuilding. Alot of old run down homes will be replaced with shiny new ones. Everyone will forget that there ever was a fire. If you don't believe this theory, drive through the part of Cerritos, California where the airliner crashed some time ago. The prices are sky high and the homes are beautiful. : : : Thanks for the positive outlook. We are praying for this exact thing. I'm hoping that our escrow can survive this. We were scheduled to close the end of December. Maybe by then, the fire insurance will be available again. I wonder how long after the Northridge earthquakes did the insurance companies start issuing new policies? Just Curious. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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