Mirambell Realty

Circuit Breakers vs. Fuse Boxes, Insurance Options Vary Greatly

Craig K. Mirambell, Jr. — Thu, 26 Apr 2012 19:59:19 +0000

Did you know when buying a home in the New Orleans area, you are extremely limited on homeowners insurance options to protect your home. There are no standard line companies that will accept fuses in the electrical system. Circuit breakers are necessary to obtain coverage with all of companies as this is a prerequisite of their guidelines. If the home your ar purchasing still has fuses, homeowner’s and rental properties can only choose LA Citizens as an alternative option resulting in a higher premium. Please keep in mind LA Citizens is the insurer of last resort. This means a higher premium and less service, typically.

Writing a split policy with a reputable carrier and the wind/hail being with LA Citizens is not an option as the primary carrier would still require the home to have circuit breakers. As discussed, in the past this isn’t the most favorable way to go in my opinion as there are some gaps in coverage when we have a split policy in place.

Keep this in mind during your home search and inspections. It truly benefits the buyer to have an update electrical box.

For my insurance needs, i alway turn to Ray Labat @ Riverland’s Insurance. Service is hands down and there are plenty of options.

Ray 985-212-4445

rlabat@rivins.com

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Jefferson Parish 1st Time Home Buyer Grant Money UPDATE

Craig K. Mirambell, Jr. — Wed, 25 Apr 2012 15:57:28 +0000

As of last week, Jefferson Parish Finance Authority has paused there program to catch up on their back log of applicants. As of now they are number 56 of the interview process. They are expecting about 200 grants to be provided. They have closed on several other applicants already. The reason for freezing the acceptance of applications was due to a backlog and not wanting to hold sellers up under contract for over 2 months.

There is no timetable as to when they will re release the program. I think this is great news for those who have not found a home yet or have not taken the 1st time home buyer classes. This gives you an opportunity to get started. If you would like to be notified when the program is accepting applications again, or for more information on the classes and requirements, email me or comment below.

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Louisiana REALTORS by Age…Quite Interesting

Craig K. Mirambell, Jr. — Wed, 28 Mar 2012 20:28:19 +0000

Date provided by Louisiana Real Estate Commission, I thought this was intriguing.

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