Often Said, Often wrong! Real Estate Terms To Know

I hear it all the time: “Thanks for being my Reel-a tor.” Of course, there’s no “A” in the middle of the word. It’s pronounced, “Reel-tor.”

And there are a bunch of other words also mispronounced all the time. I must confess I’ve done it myself. Here’s a partial list from the Florida Realtor people.



Storm Notes on Hermine

Well, we had lots and lots of rain even before Hermine got named. At my house, we figure somewhere between 8-10 inches early in the week.

Then the depression turned north in the Gulf, and became a tropical storm, and finally, a hurricane. Feeder bands came through, with wind gusts up to about 40 miles per hour. More rain. And a lunar tide much higher than usual. Augmented by a southerly wind that blew lots of water up into the canals and the bays.

All in all, not too bad. Sorta reminiscent of Hurricane Elena, which sat offshore in the Gulf for three days over Labor Day, 1985.

Citizen’s Insurance Takes Contract Rights

If Citizen’s Insurance company provides coverage for your home, an administrative change may leave you without much recourse, maximizing repair limits at $3,000.

This could have negative impacts on getting repairs done in a timely fashion and by whom. Once again, we find that even the right to select your repairman may be at risk.

Read about it.


Flood Insurance ‘Fix’ Needs Senate Approval

There have been a LOT of floods in the news lately. And with weather (and maybe climate) turning nastier all the time, flood insurance is more important than ever.

Realtors and the National Flood Insurance Program support a recent bill that’s passed the House and headed for the Senate. It will allow homeowners to choose between the NFIP flood insurance and private flood insurance, without suffering financial penalties for returning to NFIP.

It’s a bit arcane, but this fix was needed, and should help private insurers establish a more reasonable market for their services. Here’s the story:


Flood Insurance ‘Fix’ in the Works

ocean-571328_960_720Several leaders, including the heads of a national wildlife organization, taxpayer association  and National Realtors, are saying the flood  insurance program is in serious need of ‘fixing.’

For those of us who live on Anna Maria Island,  the ‘fixing’ will end up taking money out of our pockets. Already, flood insurance rates are going up about 18 percent each year,  which means a lot to people who have such insurance on a ground-level home. For those in homes whose lowest occupied floor are at 10 feet above base flood elevation, the hit is less.

But it’s clear that something needs to be done, and not just along the coast, but along rivers, bays and other inland flood zones. It seems that this brief article leaves a lot unsaid. For example, ‘How?’