Black couple settle lawsuit as home value at $500k below real price

[jay trotta]

So, hypothetically, what happens if the house burns down, no homeowner needed to meet the appraiser, replacement or reproduction cost "telephone pole construction still in use today?" and land value, taking geological soil conditions, earthquake risk, etc. to be re-built to current code, not grandfathered in" with old restrictions. How would the insurance company value it, just to take away any and all inherent "racism"? Any Highest & Best Use issues with the current zoning? Just curious what everyone familiar with the market would think. And would any appraiser or wannabe propery data collector accept a new assignment on this property? Ever?

If memory serves, the dwelling would be separate from any contents. The dwelling should be replacement cost, whatever that is for the area in which it is located. Most Insurers today go above whatever they consider pre-fire estimated RC, so you pay monthly for that. Land Value is not included.
If your mortgage is (IE) $300,000 that would be the coverage needed, although the mortgage covers the land also, the insurance does not. It would fall under a different category to the best of my recollection. There is no "grandfather" clause, it would require building to today's Code Compliance requirements.

Hope this helps a bit

 

[Tiffany Gibbons]

If memory serves, the dwelling would be separate from any contents. The dwelling should be replacement cost, whatever that is for the area in which it is located. Most Insurers today go above whatever they consider pre-fire estimated RC, so you pay monthly for that. Land Value is not included.
If your mortgage is (IE) $300,000 that would be the coverage needed, although the mortgage covers the land also, the insurance does not. It would fall under a different category to the best of my recollection. There is no "grandfather" clause, it would require building to today's Code Compliance requirements.

Hope this helps a bit

So, no "iconic" telephone pole construction? It was described as being 1 of 300 "iconic" pole houses in one article with the owner's interviewed in March.

 

[Sadie]

So, no "iconic" telephone pole construction? It was described as being 1 of 300 "iconic" pole houses in one article with the owner's interviewed in March.

is that sarcasm? Because the term "iconic pole construction" seems to be an oxymoron. Unintended sarcasm?

 

[ZZGAMAZZ]

is that sarcasm? Because the term "iconic pole construction" seems to be an oxymoron. Unintended sarcasm?

All I can think of is the pole that my girlfriend had installed in our living room when she started working in a strip club and needed to practice. Then there was my good friend who invited me to his house to look at his new project....which was a weaved chair installed from the ceiling that could be raised or lowered manually. Twenty years in Cali and I am still just a dumb country boy from WV.

 

[George Hatch]

Easy there, Tiger. You definitely don't want to go there in a discussion about this appraisal situation.

 

[Tiffany Gibbons]

is that sarcasm? Because the term "iconic pole construction" seems to be an oxymoron. Unintended sarcasm?

My intended sarcasm was putting the quotes around iconic. That's what the article with the owners said in March 2023, that it was one of the 300 iconic pole construction houses in the Marin City area, like it's like a Frank Lloyd Wright house or something. So, I thought it to be an oxymoron as well and I was responding to the insurance value replacement post (Jay) that is would be re-built to current code, wondering if telephone poles would be used currently, haha.

 

[Tiffany Gibbons]

All I can think of is the pole that my girlfriend had installed in our living room when she started working in a strip club and needed to practice. Then there was my good friend who invited me to his house to look at his new project....which was a weaved chair installed from the ceiling that could be raised or lowered manually. Twenty years in Cali and I am still just a dumb country boy from WV.

At least the girlfriend's pole construction was probably a metal pole. Think of the splinters and creosote poisoning she would endure if not, lol.

 

[Sadie]

My intended sarcasm was putting the quotes around iconic. That's what the article with the owners said in March 2023, that it was one of the 300 iconic pole construction houses in the Marin City area, like it's like a Frank Lloyd Wright house or something. So, I thought it to be an oxymoron as well and I was responding to the insurance value replacement post (Jay) that is would be re-built to current code, wondering if telephone poles would be used currently, haha.

Thats what I thought. It would be funny if not so mis-informed.