1 July 2019
Dear Bel Air Park Neighbor:
Happy Summer! Happy 4th of July….
It’s been a wet Winter, gloomy Spring, but thank heavens, we’re now into Summer, finally. Americans do love their 4th of July holiday — parades, fireworks, and BBQs. I will be in Coronado, where will you be? But it’s also fire season, which is now lasting 12 months a year.
Scrambling for fire insurance as ‘fire season’ kicks off….
I recently met with Robert Feldman, one of California’s leading experts for high risk area insurance who underscored the challenges in today’s insurance market. For homeowners in fire prone areas, insuring their homes against fire has become a huge challenge in finding (and affordable) coverage. In the past year alone, California has lost more than 7,000 structures, 91 lives, and incurred over $20 billion in insured losses. Notably the Camp Fire (Paradise) and the Woolsey Fire (LA-Ventura counties) overhang the on-going, severe threat of wild fires existing throughout our state. And we’re now entering the heart of the fire season.
Every property has a ‘FireLine Score’ — which insurance companies use to calculate fire risk. For example, Feldman notes that one homeowner could have a high score and his neighbor, because they’re not at as risk,could have a much lower score.
There is a lot more information regarding this very important issue, please contact me at 310 442-1384 or ceschiffer@gmail.com and/or look for the 15 July issue of the Schiffer Line for more detailed information.
What is happening in Bel Air Park?
We are all going to need a little more patience with the traffic as I am sure that you all know that the gas company is working on their lines on Sepulveda and will be for the next couple of months, and also for the next year, Sunset Blvd., going east from the 405 will be a construction zone. There are also studies and conversations being held about some type of rapid transit system being installed in the Sepulveda Pass. As more information becomes available, I will keep you in the loop
What about the real estate market? There has not been a lot of activity this past quarter. Currently there is 1 home for sale with the same number last year. The only other difference between the 2 years is that now there are 2 homes available for lease, vs. 1 last year, and as for homes in escrow, it is the same for both years, none, and 1 home closed escrow this past quarter, and none last year.
Please let me know how I might assist you with your real estate needs. Looking forward to hearing from you.
Cordially,
Carole Schiffer
