Did You Buy A Haunted House?

By Jenni Boucher

If you’re on the search for your dream home, there are many important factors to consider when evaluating properties. Most buyers look at the overall condition of the home, character/appeal, the school district and when the last renovation was done. Wouldn't you also want to know if the house is haunted?

The state of Florida does not require sellers or their agents to disclose to potential buyers whether or not a house is haunted, even though 31 other states do. That being said, Florida does require sellers to disclose anything that could materially affect the value of the property, such as a death on the premises. Let’s face it: the presence of spirits isn't something that a home inspector is going to find out for you while inspecting the property.

The good news for sellers of haunted or rumored-to-be-haunted properties is that for a growing segment of buyers, it can actually increase the value of the home! These buyers feel that the spiritual presence adds to the character of the home. According to the National Association of Realtors, in some areas with a large number of reported haunted houses, like southern California, real estate firms are now creating teams of agents that specialize in haunted or otherwise stigmatized properties.

If you believe in the paranormal and the presence of activity would make or break the sale of a particular property to you, go ahead and ask the seller if they have noticed anything unusual. When asked point-blank, most sellers will divulge the history of their home. If not, it’s time to do some research yourself.

Google provides a wealth of information about haunted houses in any particular area, especially famous ones. If you find anything interesting, visit the local library to review old newspapers and see what turns up. You can also ask neighbors if they have noticed anything unusual about the home or if there are any local legends about the property.

There are things you can look out for while touring the home that could possibly indicate the presence of spiritual activity. Cold or hot spots, flashes of light, unexplained shadows, the feeling of being watched and/or touched and orbs of light in photographs are all potential signs of activity.

If you have already bought your dream home and suspect that you’re not alone, there are things you can do to bring peace of mind to you and your family – and possibly help the spirits move on.

Start with a deep cleaning of the home. This is a good first step to cleansing the space of negative energy. Wipe down walls, clean the floors, clean all linens – clean everything! Let the energies in your home know that only positive energy is allowed in your space and negative energies aren’t welcome.

There are precedents of homes being sold without disclosure of spiritual activity where the buyer has been able to get a refund of the purchase price through court proceedings. One of the most well known cases was in 1990 when Jeffrey Stambovsky purchased a turn-of-the-century Victorian home in Nyack, NY. The seller did not disclose any paranormal activity to Stambovsky, although it was brought up later in court that she had previously sold her story to Reader’s Digest and the local press (1977 & 1982). The lower court that first heard the case ruled that the seller and agent were not required to disclose spiritual activity in the home. A NY appellate court later ruled that the house was indeed haunted and granted Stambovsky a refund of his $650,000 purchase price. Don’t feel too bad for the seller, once word got out a whole new group of buyers become interested in, and ultimately purchased the property.

No matter what side of the real estate transaction you are on, it is important to be open and forthcoming about paranormal activity at a property. The buyer may not believe in spirits, or may be more intrigued by their presence. It is important to establish dialogue early; otherwise the buyer might be left wondering “Did I buy a haunted house?”

Citizens Insurance Policy Change for Manufactured Homes

By: Jenni Boucher

At a recent networking meeting at the Manatee Association of Realtors, I was discussing insurance changes with several of the realtors and we got on the topic of manufactured homes. None of them were aware of a recent change of insurance policies regarding these homes. I explained what I knew, and I was asked to provide this information to other professionals who need to know.

Manufactured homes are a favorite residence in Florida for retirees looking for low-maintenance living. In most cases in Manatee County, these homes are found in a manufactured home community that often includes multiple amenities to help them enjoy their new retirement lifestyle. In fact, there are currently 104 manufactured home communities in Manatee County alone! It varies by community, but the majority of these homes are 20 to 30 years old, if not older. There has been a recent change to the insurance qualifications for these homes that many homeowners, buyers and realtors are yet unaware of.

Citizens Property Insurance Corporation is a non-profit, tax-exempt government corporation founded to provide property insurance coverage to those who might otherwise not be able to find coverage. Citizens is often the only insurance option for older manufactured homes that many insurers deem too high risk to cover.

 

On August 1, 2013; Citizens changed their policy on WHEN a manufactured home will be required to obtain a Roof Certification or Four Point Inspection to get or maintain coverage. It used to be that these inspections were only required on manufactured homes that were 25 to 30 years old or older. According to an e-mail release from Citizens and corroboration with local insurance agents, these inspections will now be required for manufactured homes 10 years old or older to obtain or renew a property insurance policy on the home.

Depending on variables specific to the home and specific policy requirements, these homeowners may need a Roof Certification Inspection AND/OR a Four Point Inspection.

A Roof Certification Inspection takes a look at the age, shape, type of covering and overall condition of the roof. A Universal Roof Certification Inspection & Update Form is then completed by the inspector for the home owner or buyer to submit to their insurance company certifying whether or not the roof is in good condition and what, if any, defects are found.

A Four Point Inspection includes all of the roof information described above, but also includes inspection and certification that the plumbing, electrical, and HVAC (heating, ventilation and air conditioning) systems are in good working order and gives the insurance company an estimate of their remaining life.

Some insurers are also requiring a Wind Mitigation Inspection on some manufactured homes, especially those with roof-overs. Wind Mitigation Inspections typically do not yield many benefits on manufactured homes, especially since most do not have an attic access panel and the roof structure is a major component in wind mitigation benefits.

Providing any insurance company with a copy of the full inspection report is NOT a replacement for these inspections and is NOT ADVISED. In addition to informing the insurance company of every defect in the home, the information is not contained in the format that the company, especially Citizens, requires and cannot be accepted.

If you still have questions about this change or would like to discuss your home inspection needs, please call our office at (941) 749-1152 or sales@manateehomeinspection.com.

FHA Calls on Lenders to Be Sensitive During the Government Shutdown

By: Jenni Boucher

A recent memo from the Desk of Carol Galante, Assistant Secretary for Housing/Federal Housing Commissioner, asks that all approved mortgagees and lenders be sensitive to the financial hardships faced by borrowers as a result of the recent government shutdown.

As most of you know, funding for the operations of many federal agencies and organizations expired at midnight on September 30th, causing them to partially or fully shutdown. There are hundreds of thousands of borrowers who are being subjected to furloughs, layoffs, or a reduction of income related to the shutdown. Not just federal employees, but also private sector workers whose income partially or wholly depends on the activities of these agencies and organizations. These workers have the same ongoing financial obligations, but are forced to meet them without their usual salaries through no fault of their own. Many already have stretched budgets following sequestration furloughs.

FHA expects all approved mortgagees and lenders to make every effort to communicate with borrowers and assist affected borrowers by:

• extending informal forbearance plans to borrowers facing financial hardship as a result of the shutdown, and
• fully evaluating borrowers for available loss mitigation options to avoid foreclosure whenever possible

FHA also encourages these approved mortgagees and lenders to waive late fees and suspend credit reporting for any affected borrowers. FHA is partnering with Fannie Mae, Freddie Mac and the Veteran's Administration to ensure that all of the hard won improvements in the housing market are not compromised by the government shutdown.

To read more about efforts to assist affected borrows, read this announcement from Fannie Mae.