Million-Dollar Home Sales Thrive While Low End Stumbles
May 05, 2014 —
Prashant Gopal – BloombergMillion-dollar homes in the U.S. are selling at double their historical average while middle-class property demand stumbles, showing that the housing recovery is mirroring America’s wealth divide.
Purchases costing $1 million or more rose 7.8 percent in March from a year earlier, according to data released last week by the National Association of Realtors. Transactions for $250,000 or less, which represent almost two-thirds of the market, plunged 12 percent in the period as house hunters found few available homes in that price range.
Luxury-home sales are climbing as an improving economy and stocks that have almost tripled from 2009 lows bolster confidence among affluent buyers. At the same time, slow wage growth, tight credit standards and escalating prices are putting homeownership out of reach for many Americans. While investors drain the market of lower-end properties, builders are constructing more expensive houses that generate bigger profits.
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Prashant Gopal, BloombergMr. Gopal may be contacted at
pgopal2@bloomberg.net
Georgia Court of Appeals Holds That Insurer Must Defend Oil Company Against Entire Lawsuit
October 07, 2019 —
Lawrence J. Bracken II, Michael S. Levine & Alexander D. Russo - Hunton Andrews KurthThe Georgia Court of Appeals recently affirmed a grant of summary judgment in favor of Mountain Express Oil Company on its breach of contract claim against liability insurer, Southern Trust Insurance Company. Empire Petroleum brought claims against Mountain Express for breach of contract, injunctive relief, and libel or slander, among others. Mountain Express sought a defense to that lawsuit under its insurance policy with Southern Trust. Southern Trust contended that the insurance policy did not cover Empire’s non-libel/slander claims, and therefore reimbursed Mountain Express for only a portion of its attorneys’ fees. After the Empire lawsuit settled, Mountain Express sued Southern Trust for breach of contract and bad faith for failing to pay the remaining defense costs, contending that Southern Trust had a duty to defend the entire lawsuit.
The Georgia Court of Appeals affirmed the trial court’s grant of summary judgment to Mountain Express on its breach of contract claim. Citing policy language stating that “[the insurer] will have the right and duty to defend the insured against any ‘suit’ seeking those damages,” the court held that Southern Trust was obligated to defend the entire lawsuit. Specifically, in reaching that conclusion, the court noted that by agreeing to defend any “suit,” not any “claim,” Southern Trust obligated itself to defend the entire lawsuit if any claim could be covered under the policy. Accordingly, Southern Trust breached the policy when it only agreed to defend some of the claims against its insured.
Reprinted courtesy of
Lawrence J. Bracken II, Hunton Andrews Kurth,
Michael S. Levine, Hunton Andrews Kurth and Alexander D. Russo, Hunton Andrews Kurth
Mr. Bracken may be contacted at lbracken@HuntonAK.com
Mr. Levine may be contacted at mlevine@HuntonAK.com
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Washington State Updates the Contractor Registration Statute
June 17, 2015 —
Beverley BevenFlorez-CDJ STAFFRyan W. Sternoff of Ahlers & Cressman PLLC, analyzed SHB 1749, which recently amended RCW 18.27.010, Washington State’s legislature’s contractor’s registration statute. According to Sternoff, “a broad reading of the contractor’s registration statute, RCW Ch. 18.27, would require just about any person or entity, other than a residential homeowner, who is involved at any level in improving real property to be registered as a ‘Contractor,’ irrespective if that person or entity hired a licensed contractor to perform work on real property that they own.” SHB 1749 amended the statute “so that those who ‘offer to sell their property without occupying or using the structures, projects, developments or improvements’ are excluded from the definition of ‘contractor’ and not required to be registered, provided that the person or entity ‘contracts with a registered general contractor and does not superintend the work.’”
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The Jersey Shore gets Beach Prisms Designed to Reduce Erosion
January 22, 2014 —
Beverley BevenFlorez-CDJ STAFFThirty-five beach prisms manufactured by Smith-Midland Corporation have been installed along the Jersey shore in Ocean Gate, New Jersey. According to the Wall Street Journal, “The prisms protect homes, prevent erosion, and reduce impacts from natural disasters like Hurricane Sandy.” They “are made with a built-in parabolic curve that scatters waves away as spray instead of allowing them to crash up onto the vulnerable shoreline.”
Ocean Gate’s Mayor Paul J. Kennedy stated, "We've been losing beach year after year with the Nor'easters we get. So we came up with an idea that hopefully will work,” The Wall Street Journal reported.
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Florida Condo Collapse Victims Reach $1 Billion Settlement
May 23, 2022 —
Erik Larson - BloombergVictims of the South Florida condominium collapse that killed 98 people last year reached settlements totaling almost $1 billion with defendants including the developer of an adjacent luxury tower, engineers and a law firm for the condo association.
The massive deal was cobbled together through multiple agreements before a state court hearing Wednesday in Miami, according to Harley S. Tropin, one of the lead plaintiffs’ lawyers who had sued on behalf of survivors and victims’ families. He said he disclosed the settlements in court.
“We are pleased to have resolved this case with the defendants to get what we think is a very fair recovery to help end the litigation and allow the victims to attain some means of attempting to move forward from this horrific tragedy,” Tropin said in an emailed statement.
The 12-story Champlain Towers South condominium building in Surfside, Florida, collapsed June 24, triggering multiple lawsuits and prompting state and federal probes. A focus was the development of the Renzo Piano-designed Eighty Seven Park high-rise next door to the Champlain Towers.
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Erik Larson, Bloomberg
Don’t Overlook Leading Edge Hazards
May 20, 2019 —
Baxter Byrd - Construction ExecutiveLeading edge hazards are often misunderstood and overlooked on today’s highly visible jobsites. Evidence is readily available via images shared on construction-related social media accounts.
In the context of people showing pride for the hard work they do or the extreme conditions under which they work, posts offer glimpses into the methods employed to mitigate fall hazards. Alarmingly, many of these methods do not adhere to industry-accepted standards, especially in the case of leading edge applications.
Mincing Words
The definition of “leading edge” itself has undergone somewhat of a transformation since its introduction by OSHA to its current use by ANSI in the Z359.14-2014 “Safety Requirements for Self-Retracting Devices for Personal Fall Arrest and Rescue Systems” standard. OSHA defines a leading edge as an “unprotected side or edge during periods when it is actively or continuously under construction,” giving many the impression that a leading edge was a temporary condition found only during the construction of a structure.
Reprinted courtesy of
Baxter Byrd, Construction Executive, a publication of Associated Builders and Contractors. All rights reserved.
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Mr. Byrd may be contacted at
info@puresafetygroup.com
James R. Lynch Appointed to the Washington State Capital Project Review Committee
June 22, 2016 —
Ahlers & Cressman Crew - Ahlers & Cressman Construction Law BlogJames R. Lynch, one of the attorneys at the law firm of Ahlers & Cressman PLLC, has been appointed to the Washington State Capital Project Review Committee (PRC). Created by the legislature in 2007, the PRC is responsible for reviewing and approving all public projects in the State of Washington using the General Contractor/Construction Manager (GC/CM) and Design-Build (D-B) delivery methods of construction. The PRC also certifies certain qualified government bodies to use these methods more broadly. The PRC consists of key representatives of Washington public project owners, designers, general contractors, specialty/subcontractors, construction managers, construction trades labor, and minority/women businesses. James has been appointed to the PRC’s Private Sector seat for a three-year term.
You may learn more about Ahlers & Cressman PLLC at www.ac-lawyers.com
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Plan Ahead for the Inevitable Murphy’s Law Related Accident
August 06, 2019 —
Christopher G. Hill - Construction Law MusingsFor this week’s Guest Post Friday here at Construction Law Musings, we welcome back Melissa Dewey Brumback. Melissa (@melissabrumback) is a construction attorney and partner in the firm Ragsdale Liggett, PLLC in Raleigh. Melissa has spent over a decade representing engineers and architects, advising them on contract proposals to limit risks, and defending them when litigation does arise. She is the author of the award-winning Construction Law in North Carolina a blog dedicated to the A/E community. Melissa is rated AV, the best rating of the Martindale Hubbell lawyer rating system, is a certified LEED Green Associate, and serves as President of the RL Mace Universal Design Institute. She is also signed up to take a cruise this summer with her family (!).
The recent cruise ship fiasco, in which thousands were stranded at sea for an entire week with no running water or toilet facilities, visibly brought to mind the old axiom to “Be Prepared.” As Chris likes to say, Murphy was an optimist.
What does this have to do with your construction company? Plenty. Since time is money and a downed project extremely expensive, you should plan in advance for likely emergency situations. Some things to consider:
1. Emergency Contacts: Do you only have a cell number for your key project manager? You should have at least two ways to reach all key employees and subcontractors, as well as owner representatives and the designers of record. Consider that in a large emergency, sometimes entire cell phone towers are out of commission from overuse. A land line comes in awfully handy in such a situation.
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The Law Office of Christopher G. HillMr. Hill may be contacted at
chrisghill@constructionlawva.com