Home Insurance Facts That Should Not Be Overlooked
A home buyer has found his/her dream home and is making plans to move in in a few short weeks. But how well is their most expensive purchase to date protected? With the never ending list of things to get completed before the close of escrow, making sure insurance is in place so the lender can receive the declaration of insurance page before going to underwriting is just one more item to get done . So you want your insurance agent to get this off your plate as soon as possible. However, it will be worth your time to have details discussion with your agent to make sure your home is properly insured. Here are some important decisions regarding home insurance that should be considered.
Replacement Cost is key
All homes should be insured for the replacement cost which is not market or appraised value. The market value takes into account location, neighborhood desirability, condition of the home, etc. Replacement cost is what it costs to replace the house regardless of location. Think of it this way; the exact same home built in Eloy (near Casa Grande) and Scottsdale will have significantly different market values but the cost to rebuild the house will be the same.
The upgrades currently in the home will affect the replacement cost. Make sure the insurance agent knows the level of upgrades, especially the expensive ones such as plantation shutters, upgraded flooring and kitchen cabinets.
Insuring for cash value will turn into a disappointing surprise if there is a claim because the cash value subtracts out the depreciation.
Ordinance or Law Coverage
This coverage covers the increased cost caused by adherence to current laws and ordinances. With time building codes change and repairs or replacements will need to incorporate these updated code changes. For example, if a tree falls onto your home that was built in 1985 and the repairs require updated electrical, plumbing or roof systems to meet the current codes this could result in a more costly repair than is covered in the policy. There is a base level of coverage for Ordinace and Law coverage in most policies, just make sure yours is adequate for your home.
Many thanks to Martin Watts with Legacy Insurance (480-969-6229) for helping with the content of this post.
If you’re looking for a home, click on Home Search . If you’d like to know the value of your home, click on Tell Me The Value of My Home. And if you have any real estate questions, please call me at 480-326-8571.
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$950,000 :: 1125 N DATE PALM Drive, Gilbert AZ, 85234
5 beds, 3 baths
Home size: 4,458 sq ft
Lot Size: 13,068 sq ft
Added: 09/14/17, Last Updated: 11/20/17
Property Type: Single Family
MLS Number: 5660217
Community: LAKESIDE AT VAL VISTA LAKES
Tract: LAKESIDE AT VAL VISTA LAKES
The price of this listing was last reduced on 11/15/2017 by 3%
Status: Active
Absolutely stunning semi-custom home in the Lakeside neighborhood in Val Vista Lakes where homes are going up to over $250/sqft. This completely remodeled home features the absolute best lake views that Val Vista Lakes has to offer, a professionally designed putting and pitching green, top of the line artificial grass backyard, stunning 12 person spa and pebble sheen pool that is wrapped with Marbella stone on the pool deck, built in gas and charcoal grills, amazing outdoor gas fire pit that overlooks the lake and pop-out tv for enjoying a game while sitting in the pool or on the patio. Inside you will fine a custom gourmet kitchen with double edge eco-quartz countertops, travertine tile and hardwood floors, plantation shutters and tinted and reflective windows for privacy and efficiency.
Listed with Keller Williams Realty East Valley
Brought to you by Gordon Baker, Remax Alliance Group. Call me today at 480-326-8571, or visit my website at www.myhomeinaz.com/!
$360,000 :: 244 N CORRINE Court, Gilbert AZ, 85234
3 beds, 2 baths
Home size: 2,005 sq ft
Lot Size: 10,018 sq ft
Added: 10/13/17, Last Updated: 11/20/17
Property Type: Single Family
MLS Number: 5673864
Community: STONEBRIDGE LAKES ESTATES UNIT
Tract: STONEBRIDGE LAKES ESTATES UNIT
Status: Active
This home is a rare find in the beautiful lake community of Stonebridge Lakes Estates. There is an amazing lake view with a meandering brick walkway down to the lake. Completing the backyard is lush landscaping including fruit trees and an extended 33 X 14 covered brick patio. Ceramic tile entry way leads to formal living and dining area complete with custom shutters. Kitchen includes bay window eating area, walk-in pantry, butcher block island, smooth top stove with microwave and Kitchen Aid refrigerator. Family room adjoins kitchen & has a corner fireplace, French doors lead to the patio from the family room & master bedroom. Awesome location is close to downtown Gilbert with all the fantastic restaurants & outside patio seating. Easy access to freeways, shopping and schools.
Listed with RE/MAX Alliance Group
Brought to you by Gordon Baker, Remax Alliance Group. Call me today at 480-326-8571, or visit my website at www.myhomeinaz.com/!
$525,000 :: 2003 E CATAMARAN Drive, Gilbert AZ, 85234
3 beds, 3.25 baths
Home size: 2,970 sq ft
Lot Size: 12,196 sq ft
Added: 09/16/17, Last Updated: 11/20/17
Property Type: Single Family
MLS Number: 5661262
Community: REGATTA AT VAL VISTA LAKES
Tract: REGATTA AT VAL VISTA LAKES
Status: Active
Beautiful custom home with views down the lake ** Casita/office/guest room with bathroom and separate entrance ** Master bedroom downstairs ** Loft upstairs with beautiful lake views ** So many windows and walls of glass makes this home very bright ** Granite island kitchen with loads of cabinets abd eating area ** Large walk in closet in master suite ** Val Vista Lakes community enjoys 10 tennis courts, including pickelball, indoor racquetball courts, heated pool, heated spa, lagoon beach, kayaks and pedal boats for homeowners to use, workout room, cardio room, many events to enjoy and so much more ** There are four lakes for your boating and fishing pleasure ** This beautiful home is ready for your client to move in
Listed with Penfield Properties
Brought to you by Gordon Baker, Remax Alliance Group. Call me today at 480-326-8571, or visit my website at www.myhomeinaz.com/!
$512,000 :: 1145 W NAUTILUS Drive, Gilbert AZ, 85233
4 beds, 2 baths
Home size: 2,104 sq ft
Lot Size: 10,018 sq ft
Added: 11/17/17, Last Updated: 11/17/17
Property Type: Single Family
MLS Number: 5689401
Community: CATALINA BAY AT THE ISLANDS L
Tract: CATALINA BAY AT THE ISLANDS L
Status: Active
Spectacular Views from 0ver 100 feet of Shoreline on this Remodeled Single level 4 bedroom Adjacent to greenbelt. Wonderful wood floors throughout most of the home with plenty of upgrades in this wide open floor plan, including granite counter 3 car garage that has a roll up door that exits into the side and back yard.
Listed with Keller Williams Realty Sonoran Living
Brought to you by Gordon Baker, Remax Alliance Group. Call me today at 480-326-8571, or visit my website at www.myhomeinaz.com/!
$580,000 :: 480 N MONDEL Drive, Gilbert AZ, 85233
4 beds, 2.5 baths
Home size: 3,552 sq ft
Lot Size: 11,325 sq ft
Added: 10/06/17, Last Updated: 11/15/17
Property Type: Single Family
MLS Number: 5670414
Community: PLAYA DEL REY
Tract: PLAYA DEL REY
The price of this listing was last reduced on 11/15/2017 by 1%
Status: Active
ENJOY RESORT STYLE LIVING IN THIS BEAUTIFULLY APPOINTED PLAYA DEL RAY WATERFRONT HOME. AN ENTERTAINERS DREAM! OPEN THE DOOR TO SOARING VAULTED CEILINGS INTO THE FORMAL LIVING AND DINING AREA. ENJOY THE LAKE VIEW FROM HERE OR HEAD STRAIGHT TO THE BACKYARD. SOAK IN THE HEATED SPA OR TAKE A DIVE INTO THE PEBBLE TECH POOL. THE MASTER SUITE IS CONVENIENTLY LOCATED ON THE FIRST FLOOR AND BOASTS AN EXQUISITELY REMODELED MASTER BATH WITH A WALK IN TILE SHOWER, SOAKING TUB AND LARGE DUAL VANITY. YOUR KIDS OR GUESTS WILL ALSO ENOJOY A REMODELED BATH UPSTAIRS WITH TWO BEDROOMS, A LOFT AND SPECTACULAR VIEW FROM THE BALCONY. THE COMMUNITY AMENITIES ARE ENDLESS. THE LAKE ALLOWS SKIING, BOATING, AND SO MUCH MORE. VISIT THE CLUB HOUSE, PUTT PUTT GOLF COURSE OR VENTURE VIA PRIVATE ACCESS TO MCQUEEN PARK.
Listed with My Home Group Real Estate
Brought to you by Gordon Baker, Remax Alliance Group. Call me today at 480-326-8571, or visit my website at www.myhomeinaz.com/!
$955,900 :: 1410 E CORAL COVE Drive, Gilbert AZ, 85234
4 beds, 4.5 baths
Home size: 5,190 sq ft
Lot Size: 15,681 sq ft
Added: 01/28/17, Last Updated: 11/15/17
Property Type: Single Family
MLS Number: 5553316
Community: WEST LAKE ESTATES LOT 1-40 TRA
Tract: WEST LAKE ESTATES LOT 1-40 TRA
The price of this listing was last reduced on 5/13/2017 by 3%
Status: Active
Your Grand Mediterranean Estate on the water! Imported Inlaid Italian Marble provides a stunning entry that takes your breath away. Dramatic architectural features, & superior new finishes abound throughout the home! Main level features a guest bedroom suite, & walk-in closet. Also, there is grand library/office. The lavish Master Suite has beautiful hardwood floors, sitting area, dual-sided fireplace, three large walk-in closets & picture perfect lake views. The views never stop, the lake can be seen from the elegant living, dining room, large kitchen & family room. Upstairs, are 2 large bedroom suites; one with private bath and walk-in closet. Sit fireside next to the heated pool & spa & entertain on your outdoor covered patio. And so much more! This home is a must see!
Listed with TreeHouse Realty, LLC
Brought to you by Gordon Baker, Remax Alliance Group. Call me today at 480-326-8571, or visit my website at www.myhomeinaz.com/!
$369,999 :: 1341 W WINDRIFT Way, Gilbert AZ, 85233
3 beds, 2.5 baths
Home size: 2,017 sq ft
Lot Size: 4,356 sq ft
Added: 09/15/17, Last Updated: 11/15/17
Property Type: Single Family
MLS Number: 5661079
Community: SANDCASTLE VILLAGE LOT 1-31 TR
Tract: SANDCASTLE VILLAGE LOT 1-31 TR
The price of this listing was last reduced on 11/8/2017 by 3%
Status: Active
This North/ South exposure home has been fully updated and offers 3 bedrooms that all have a water view. 2.5 bathrooms that have granite and under-mount sinks. The entire first floor has new wood-look tile and a wood-burning fireplace with travertine stacked stone. The kitchen offers all new soft close cabinets including 2 lazy Susan's and all lower cabinets are drawers for ease of use. The kitchen has brand new granite countertops, subway tile backsplash and a garden window for growing fresh herbs. All brand new stainless steel appliances. This home offers a large pantry off the kitchen that measures 9 feet long by 5 feet deep. The laundry room has a beautiful granite countertop folding area and stainless steel hanging rack. Relax in your paved backyard or take a dip in the pool.
Listed with American Realty Brokers
Brought to you by Gordon Baker, Remax Alliance Group. Call me today at 480-326-8571, or visit my website at www.myhomeinaz.com/!
$490,000 :: 1700 E Lakeside Drive #28, Gilbert AZ, 85234
4 beds, 3 baths
Home size: 2,886 sq ft
Lot Size: 5,662 sq ft
Added: 05/30/17, Last Updated: 11/15/17
Property Type: Condo/Townhouse/Co-Op
MLS Number: 5612526
Community: BRECKENRIDGE BAY LOT 1-65 TR A
Tract: BRECKENRIDGE BAY LOT 1-65 TR A
The price of this listing was last reduced on 8/17/2017 by 6%
Status: Active
Beautiful water front lot in the highly desirable Breckenridge Bay Community. 4 Bedrooms, 3 Bath with the Master Bedroom downstairs. Enjoy the gorgeous Arizona sun with the sparkling pool looking over the lake. This home is just waiting for your personal touch. This wont last long!! ***NEW ROOF, NEW AC UNITS***Being offered ''AS IS''
Listed with TreeHouse Realty, LLC
Brought to you by Gordon Baker, Remax Alliance Group. Call me today at 480-326-8571, or visit my website at www.myhomeinaz.com/!
$649,900 :: 1401 W SANDPIPER Drive, Gilbert AZ, 85233
4 beds, 2.75 baths
Home size: 3,884 sq ft
Lot Size: 10,018 sq ft
Added: 10/20/17, Last Updated: 11/15/17
Property Type: Single Family
MLS Number: 5676764
Community: TRES VISTAS LOT 1-26 PARCEL A-
Tract: TRES VISTAS LOT 1-26 PARCEL A-
Status: Active
Gilbert's fabulous ''Islands'' community. Lake #1 is freshwater w/ catch and release fishing, great boating & fabulous sunsets(sorry no swimming). This former ''Street of Dreams'' home is like resort living. Professionally landscaped yard slopes to a beautiful water view w/a boat dock ready backyard. Inside, a foyer w/marble tile flooring and plush carpet. Open & airy floor plan, waterfront windows, 20ft ceilings, skylight,two fireplaces,2nd story balcony,formal dining, sunken living rm w/fireplace,family rm, & a roomy kitchen. Oversized master bedroom suite w/2 walk-in closets & soaking tub. Over $100,000 in upgrades. Hurry it will go fast!!!
Listed with West USA Realty
Brought to you by Gordon Baker, Remax Alliance Group. Call me today at 480-326-8571, or visit my website at www.myhomeinaz.com/!
$760,000 :: 1819 E LAKECREST Drive, Gilbert AZ, 85234
5 beds, 3.5 baths
Home size: 3,503 sq ft
Lot Size: 11,761 sq ft
Added: 11/10/17, Last Updated: 11/15/17
Property Type: Single Family
MLS Number: 5686286
Community: Val Vista Lakes Crystal Shores
Tract: Val Vista Lakes Crystal Shores
Status: Active
Beautiful Waterfront home located in Val Vista Lakes Crystal Shores neighborhood. This home offers 2 large master bedrooms one on the lower level and the other upstairs. Upstairs master exits to a large covered patio. Updated kitchen with eat-n-kitchen, large great room, seperate dining and family room. The outdoor living is amazing with a large backyard featuring pool hot tub, oversized covered patio, boat dock and spacious grassy area. You won't be able to get enough of the outdoor living. This is a home you will enjoy spending with family and friends. Do not miss visiting the beautiful CLUBHOUSE!!! Boat available on separate bill of sale.
Listed with West USA Realty
Brought to you by Gordon Baker, Remax Alliance Group. Call me today at 480-326-8571, or visit my website at www.myhomeinaz.com/!
