Fairfield Connecticut Building Expert Directory

U.S. Home Sellers Return for Spring as Buyers Get Relief

February 10, 2014 — Prashant Gopal – Bloomberg
Suzanne Baker and her siblings bought a foreclosed home in Atlanta two years ago, added a fourth bathroom, then waited for values to rebound before considering a sale. Now, she says, they’re ready to cash in. The family last month listed the four-bedroom house in the affluent Buckhead neighborhood for $710,000. It was purchased as an investment for about $375,000 in late 2011, before bulk buyers snapped up many of the area’s distressed homes, helping to drive up prices in Atlanta by more than 25 percent. “The market is back up,” Baker said. “We think we can make a good amount of profit so we’re going to try.” For two years, a shortage of sellers like the Bakers has propped up prices across the U.S. as shoppers jostled for a dwindling supply of houses. Now, as the market’s busiest season approaches, escalating values are spurring more listings as homeowners regain equity lost in the worst crash since the 1930s. While new-home construction at a third of its 2006 peak will keep inventory tight, the supply increase is poised to damp price gains while higher mortgage rates cut into demand. Read the court decision
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Reprinted courtesy of Prashant Gopal, Bloomberg
Mr. Gopal may be contacted at pgopal2@bloomberg.net

Wildfire Is Efficient Proximate Cause of Moisture Reaching Expansive Soils Under Residence

November 05, 2014 — Tred R. Eyerly - Insurance Law Hawaii
The court considered whether a wildfire (covered risk) or moisture in the soils (excluded risk) was the cause of damage to the insureds' home. Encompass Ins. Co. v. Berger, 2014 U.S. Dist. LEXIS 142870 (C.D. Cal. Oct. 7, 2014). In May 2009, the Jesusita Fire caused damage to the insureds' home and surrounding area. The west wall of the house was burned, causing damage to a bedroom. A shed, hot tub, wooden decks and some vegetation, including eucalyptus trees, were damaged. The insureds submitted a claim to Encompass. Eventually, Encompass spent $400,000 repairing the property. Read the court decision
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Reprinted courtesy of Tred R. Eyerly, Insurance Law Hawaii
Mr. Eyerly may be contacted at te@hawaiilawyer.com

Fixing the Problem – Not the Blame

November 30, 2016 — Curtis W. Martin – Peckar & Abramson, P.C. Bulletin
Who is responsible for defective design under Texas law? The contractor, under Lonergan? The owner, under Spearin? A recent Fifth Circuit decision suggests that in some cases this might be the wrong question when design responsibility is disputed. The appellate court recently remanded a case back to the district court to determine whether the contractor or owner breached an implied duty to cooperate in discovering defects in design and subsequently pricing the change required to correct the problem. Read the court decision
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Reprinted courtesy of Curtis W. Martin, Peckar & Abramson, P.C.
Mr. Martin may be contacted at cmartin@pecklaw.com

Despite Misapplying California Law, Federal Court Acknowledges Virus May Cause Physical Alteration to Property

October 26, 2020 — Scott P. DeVries, Michael S. Levine & Michael L. Huggins - Hunton Insurance Recovery Blog
On August 28, Judge Stephen V. Wilson of the Central District of California, entered the latest ruling in the ongoing saga of the COVID-19 business interruption coverage dispute between celebrity plaintiff’s attorney Mark Geragos and Insurer Travelers. The case, 10E, LLC v. The Travelers Indemnity Co. of Connecticut, was filed in state court. Travelers removed to federal court, where Geragos sought remand and Travelers moved to dismiss. Judge Wilson denied remand and granted the Motion to Dismiss, finding plaintiff did not satisfactorily allege the actual presence of COVID-19 on insured property or physical damage to its property. This holding is inconsistent with long standing principles of California insurance law and appears to improperly enhance the minimal pleading threshold under Ashcroft v. Iqbal, 556 U.S. 662, 678 (2009) (To survive a motion to dismiss, a complaint need only allege a claim “that is plausible on its face.”). After rejecting Geragos’ attempt to have the case remanded based on a finding that Geragos had fraudulently joined a defendant to avoid removal, the Judge proceeded to the Motion to Dismiss which raised three issues: (1) the effect of the Virus Exclusion in the Travelers’ Policy, (2) whether plaintiff failed to allege that the governmental orders prohibited access to its property, and (3) whether plaintiff could “‘plausibly allege that it suffered ‘direct physical loss or damage to property’ as required for civil authority coverage.’” Rather than address the effect of the exclusion, which would be the narrowest issue (this exclusion is not present in all policies), the Court proceeded directly to the third issue, which has the broadest potential application. Reprinted courtesy of Scott P. DeVries, Hunton Andrews Kurth, Michael S. Levine, Hunton Andrews Kurth and Michael L. Huggins, Hunton Andrews Kurth Mr. DeVries may be contacted at sdevries@HuntonAK.com Mr. Levine may be contacted at mlevine@HuntonAK.com Mr. Huggins may be contacted at mhuggins@HuntonAK.com Read the court decision
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Kaylin Jolivette Named LADC's Construction and Commercial Practice Chair

October 09, 2023 — Kaylin Jolivette - Lewis Brisbois
Lafayette, La. (August 15, 2023) – Lafayette Associate Kaylin E. Jolivette was recently named Practice Chair of the Louisiana Association of Defense Counsel (LADC) Construction and Commercial practice. LADC is comprised of over 1,400 attorneys in Louisiana who are engaged in the defense of civil litigation. The organization creates CLE programs tailored to individual practices throughout the year to provide members with the knowledge and skills to be among the top litigators in the region. Ms. Jolivette is a member of the General Liability Practice. Her past experience includes practice in an array of civil litigation matters as both plaintiff and defense counsel from the pre-trial litigation phases, to trial and appeals, in various areas including products liability, privacy law, health care law, energy litigation, contractual disputes, personal injury, alternate dispute resolution, and construction litigation. Read the court decision
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Reprinted courtesy of Kaylin Jolivette, Lewis Brisbois
Ms. Jolivette may be contacted at Kaylin.Jolivette@lewisbrisbois.com

Housing Affordability Down

November 20, 2013 — CDJ STAFF
In what Rick Judson, the chairman of the National Association of Home Builders, describes as a “‘perfect storm’ scenario,” home prices and interest rates are up “at the same time that the cost of building homes is rising due to tightened supplies of building materials, developable lots and labor.” Residential housing is becoming less affordable. David Crowe, the Chief Economist for the NAHB, attributes this to “higher mortgage rates and the more than year-long steady increase in home prices,” but he notes that “a family earning a median income can afford 65% of homes recently sold.” For the last four quarters, the San Francisco-San Mateo-Redwood City area in California holds the dubious distinction of being the nation’s least affordable area. There, a family earning the area’s median income of $101,200 (nearly double the national median) could only afford 16% of the homes sold in the area. Read the court decision
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Golden Gate Bridge's $76 Million Suicide Nets Near Approval

June 30, 2014 — Alison Vekshin – Bloomberg
Officials of the agency that runs San Francisco’s Golden Gate Bridge today approved a $76 million funding plan to erect a suicide barrier along the span, where people plunge to their deaths at a rate of about once a week. The Golden Gate Bridge Highway and Transportation District’s 19-member board voted unanimously to approve the funding, which includes $20 million from district reserves. “We must fight mental illness on many fronts and this budget action is a critical component of saving the lives of people who might not see that their brightest days are ahead of them,” Senator Mark Leno, a Democrat from San Francisco, said in a news release yesterday ahead of the meeting. Read the court decision
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Reprinted courtesy of Alison Vekshin, Bloomberg
Ms. Vekshin may be contacted at avekshin@bloomberg.net

Fannie Overseer Moves to Rescue Housing With Lower Risk to Lenders

May 21, 2014 — Kathleen M. Howley – Bloomberg
Melvin Watt, the overseer of Fannie Mae and Freddie Mac, broke five months of silence to help boost lending as slowing sales threatens the housing recovery. Watt, 68, in his first speech as director of the Federal Housing Finance Agency, announced new rules to reduce the risk that lenders will have to repurchase bad mortgages. The changes, designed to allow banks to relax credit standards, probably will increase housing sales by 5 percent this year, said Stephanie Karol, an economist at Englewood, Colorado-based research firm IHS Inc. “It means a restart for the real estate recovery,” said Mark Zandi, chief economist of Moody’s Analytics Inc. “We’re not going to get back on track until we start making credit more available to potential buyers.” He said he expects Watt’s moves to spur “meaningful” sales growth. Read the court decision
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Reprinted courtesy of Kathleen M. Howley, Bloomberg
Ms. Howley may be contacted at kmhowley@bloomberg.net

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