Fairfield Connecticut Building Expert Directory

Millennials Want Houses, Just Like Everybody Else

September 17, 2014 — Peter Coy – Bloomberg
The proportion of homeownership among young adults has fallen from a third to a quarter over the past half-century. But the idea that today’s millennials are allergic to deeds and mortgages is a myth, says a report based on a survey of more than 1,000 Americans aged 18-29 by the Demand Institute, a nonprofit jointly operated by the Conference Board and Nielsen (NLSN). “Like most myths, there is some truth here—but only some,” says the report’s introduction. The true part is that millennials are financially squeezed because of “graduating into a weak job market with growing student loan debt,” Jeremy Burbank, a Demand Institute vice president, said in a statement. The false part, the report says, is that millennials don’t want to own their homes. Read the court decision
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Reprinted courtesy of Peter Coy, Bloomberg
Mr. Coy may be contacted at pcoy3@bloomberg.net

Lakewood Introduced City Ordinance to Battle Colorado’s CD Law

September 24, 2014 — Beverley BevenFlorez-CDJ STAFF
According to The Denver Post, the Lakewood City Council “introduced an ordinance that would make it more difficult for homeowners associations to sue developers for construction defects and give builders more opportunity to fix problems before litigation begins.” A hearing and final vote is scheduled for October 13th. "If there are defects, we want to get them fixed rather than dragging this through the courts for years," Lakewood Mayor Bob Murphy told The Denver Post. Murphy believes the ordinance will bring “more diverse housing options to Lakewood, especially around stations along the Regional Transportation District’s West Rail Line.” Lakewood’s City Planner Travis Parker also declared that the defects law is to blame for the lack of condos in the area. However, some believe that “Lakewood is overstepping its bounds as a home-rule city,” according to The Denver Post. "What they're trying to do is use an ordinance to circumvent state law in order to make it impossible for homeowners to seek redress against builders for defects," Molly Foley-Healy an attorney who serves as legislative liaison for the Community Associations Institute's Legislative Action Committee told the Post. “Mayor Murphy needs to incentivize quality construction in Lakewood instead.” Read the court decision
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Home Sales Topping $100 Million Smash U.S. Price Records

May 07, 2014 — Prashant Gopal – Bloomberg
The U.S. trophy-home market is shattering price records this year as an increasing number of residential properties change hands for more than $100 million. Barry Rosenstein, founder of hedge fund Jana Partners LLC, has purchased an 18-acre (7.3-hectare) beachfront property in East Hampton, New York, for $147 million, according to the New York Post. That would break the U.S. single-family price record of $120 million set last month with the sale of a Greenwich, Connecticut, waterfront estate on 51 acres. In Los Angeles, a 50,000-square-foot (4,600-square meter) home sold in February for $102 million in cash after a bidding war. The world’s richest people are moving cash to real estate as they seek havens for their wealth. In the U.S., an improving economy and stocks at a record are bolstering confidence among the affluent. Home purchases of $2 million or more jumped 33 percent in January and February from a year earlier to the highest level for the two-month period in data going back to 1988, according to an analysis by DataQuick. Read the court decision
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Reprinted courtesy of Prashant Gopal, Bloomberg
Mr. Gopal may be contacted at pgopal2@bloomberg.net

Top 10 Insurance Cases of 2020

January 11, 2021 — Grace V. Hebbel, Andrew G. Heckler & Jeffrey J. Vita - Saxe Doernberger & Vita P.C.
COVID-19 business interruption coverage litigation may have stolen the show in 2020, but those cases should not eclipse other important insurance coverage cases decided throughout this past year. As the courts nationwide struggled with the insurance coverage implications of COVID-19 related business loss, other significant coverage decisions were overshadowed. Read on to learn about how computer glitches, biometric privacy, and a falling wheelbarrow have all played a role in\ shaping some of the most interesting and influential insurance coverage decisions of 2020, as well as get a sneak peek at the key coverage decisions looming in 2021. Enjoy! 1. Nash Street, LLC v. Main Street America Assurance Company, No. 20389, 2020 WL 5415325 (Conn. 2020) Do exclusions k(5) and k(6) absolve an insurer of its duty to defend its insured for allegations of faulty workmanship? Reprinted courtesy of Grace V. Hebbel, Saxe Doernberger & Vita P.C., Andrew G. Heckler, Saxe Doernberger & Vita P.C. and Jeffrey J. Vita, Saxe Doernberger & Vita P.C. Ms. Hebbel may be contacted at GHebbel@sdvlaw.com Mr. Heckler may be contacted at AHeckler@sdvlaw.com Mr. Vita may be contacted at JVita@sdvlaw.com Read the court decision
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24/7 Wall Street Reported on Eight Housing Markets at All-Time Highs

June 18, 2014 — Beverley BevenFlorez-CDJ STAFF
24/7 Wall St., using data from RealtyTrac, “identified the county-level housing markets that have recovered the most from the housing crisis as of March of this year.” Number eight on the list was Weld County, Colorado, which had a percentage change of 11.1% and an unemployment rate of only 6.5%. Next on the list, was San Francisco County. The California county had a percentage change of 15.3% and an unemployment rate of 5.2%. Making number one on the list was Jefferson County, Kentucky, with a percentage change of 63.1% and unemployment rate of 8.1%. Read the court decision
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Angels Among Us

June 21, 2024 — Maggie Murphy - Construction Executive
In the early morning hours of March 26, 2024, an outbound cargo ship in the Port of Baltimore unexpectedly lost power as it churned toward the Francis Scott Key Bridge. Authorities had just minutes to stop vehicular traffic before the massive vessel—985 feet long and 157 feet wide, nearly as tall as the Eiffel Tower if stood on end—crashed headlong into one of the bridge’s support piers. Quick-acting dispatchers were able to stop the flow of traffic in time, but overnight work crews filling potholes on the bridge didn’t have enough warning. Six workers lost their lives when the bridge collapsed. On top of bringing immense grief, construction fatalities can be financially devastating to the surviving families. Enter Construction Angels, a nonprofit that provides financial assistance, grief counseling and scholarships to families of fallen construction workers. When founder Kristi Ronyak first heard news of the Key Bridge collapse, she immediately jumped into action. “We started getting calls just hours after the crash,” Ronyak says. “When I first heard the news, my heart sank, and I just started crying. Reprinted courtesy of Maggie Murphy, Construction Executive, a publication of Associated Builders and Contractors. All rights reserved. Read the court decision
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Gene Witkin Celebrates First Anniversary as Member of Ross Hart’s Mediation Team

May 23, 2022 — AMCC
LOS ANGELES, California, May 18, 2022 – With a near perfect record of resolving cases, Gene is particularly passionate about helping parties get closure and minimize the significant costs of civil discovery and trial. He attributes the high success rate to empathy for all sides from his diverse prior experience representing both plaintiffs and defendants in civil litigation, as well as his extensive past experience as insurance coverage counsel for both insureds and insurers. In recent months, two cases in particular were at an impasse due to insurance issues. The parties were able to bridge the gap and resolve the disputes, with mediator help on subtle coverage issues in one case (working through technical policy provisions together) and a creative settlement structure in the other (involving allocation of payments under the insurance policy). Gene also credits the successful resolutions in part to pre-mediation calls with the parties to better define the obstacles to resolution. Gene, along with Ross Hart and several AMCC neutrals were thrilled to see many of their colleagues and construction defect stakeholders earlier this month at the West Coast Casualty seminar, which certainly heralded a successful return to in person events. For more information or to schedule a mediation, please contact case administrator Stephanie Felton at admin@amccenter.com. About AMCC For more than 30 years the principals of AMCC have been serving the construction, real estate and insurance industries as a full service ADR firm. In addition to administering multiple terms of the CSLB contract for the state, AMCC is the recognized leader in California for administering insurance appraisals under Insurance Code 2071, as well as numerous other related ADR services such as partnering and dispute review boards. For more information please visit www.amccenter.com. Read the court decision
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Toll Brothers Snags Home Builder of the Year Honors at HLS

May 13, 2014 — Beverley BevenFlorez-CDJ STAFF
Builder magazine named Toll Brothers as their Builder of the Year during their Housing Leadership Summit in Laguna Niguel, California, according to Big Builder: “The Builder of the Year, BUILDER’s highest honor each year, is recognized for its excellence in successful business strategy, its achievements, and its corporate leadership.” “The company’s up-market price-point, lifestyle segmentation positions, and its best-of-breed execution set it apart from competitors in production home building and development as one of housing’s most powerful and promising brands,” BUILDER editorial director John McManus said while presenting the award, as quoted by Big Builder. “Toll Brothers one day will be a globally recognizable luxury housing and hospitality trademark along the lines of Four Seasons or Ritz-Carlton.” Read the court decision
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FAIRFIELD CONNECTICUT BUILDING EXPERT DIRECTORY AND CAPABILITIES