John Grafft, CNE, CLHMS’ Post

DID YOU KNOW? A super-luxe home in Florida that was insured for $60 million, excluding contents, with full wind coverage carried a premium of about $600,000 in 2022. This year the insurer dropped wind coverage. After negotiating and finding a separate carrier for a wind policy, the homeowner wound up agreeing to pay $750,000 in premiums for $50 million less coverage. (Bloomberg)

$2,100,000 North Center New Construction #chicagorealestate #northcenterchicago #northcenterrealestate #northcenterchicagorealestate #saunaroom #newconstructionchicago #newconstructionhomes

DID YOU KNOW? Annual visits to strip malls surged 18% last year compared to the years before the pandemic, the US has about 68,000 strip malls. Why? Lines are shorter because of smaller stores, parking is easier and they’re usually on your way home. (CNBC)

DID YOU KNOW? Many insurance deductibles are a percentage of the whole claim, so if you own a $5 million home, a 5% deductible could amount to $250,000. Two years after Hurricane Ian, nearly 50,000 claims remain unresolved, including more than 18,000 where no payments have been made. (WSJ)

DID YOU KNOW? Soil testing is an important element to buying a home: recently some homeowners in a wealthy suburb discovered builders had put about a million tons of coal ash in the ground under construction projects in town. Since 1980, 180 million tons of coal ash have been used as a substitute for dirt in construction projects around the US, mainly as fill under roads and buildings, according to the American Coal Ash Association trade group. Neither the EPA nor most states tracked where it was used, so they don’t know now where most of the ash is buried. (WSJ)

DID YOU KNOW? A 2022 survey by the American Property Casualty Insurance Association shows only 30% of insured homeowners had increased their coverage to compensate for rising building costs, and about 40% updated their insurance after completing renovations or a remodel. On average nationwide, the costs of construction materials and labor increased by 40% and 16%, respectively, between 2019 and 2023. (WSJ)

DID YOU KNOW? The big buzzwords and trends in luxury bathroom design these days are texture, tech, wellness, double-duty, grout-free, and imperfection. (Architectural Digest)

DID YOU KNOW? Kissimmee, the 21-square-mile Orlando suburb that calls itself the Vacation Home Capital of the World has over 30,000 Airbnbs and other short-term rentals, more than any other city in the US. Rental income is falling here and in other parts of the US, and home listings are increasing, just as the growth in domestic travel slows. (Bloomberg)

DID YOU KNOW? While those living in coastal areas are acutely aware of hurricane risks, most don't realize that hurricanes often travel inland - often deeply - can cause extreme rain events and flooding, trigger tornadoes and cause untold damage to property and neighborhoods. Western North Carolina is reeling from the effects of Hurricane Helene that became a tropical storm as it traveled inland. Those who live inland everywhere may need to re-evaluate flood insurance.

Swirl down a spiral staircase into a 50th floor 3 bed / 3 bath duplex penthouse 🏙  ~3,300 sqft with a private rooftop deck 🌞⛱ in conveniently located Streeterville 🌃 1 block away from Oak Street Beach and close to everything downtown Chicago has to offer. Bask in sun-drenched rooms with vistas of Lake Michigan and the city with the Culinablu kitchen featuring an induction cook-top, Miele steam oven, convection oven, and wine fridge. The upper level features skylights to enjoy a rainy day inside or allow sunset glows to pervade the the room Herringbone hardwood floors remain throughout, and the primary suite includes panoramic views 🗺 💯 wood-burning fireplace, and a walk-in closet while the new primary bath features a multi-spray steam shower and a separate soaking tub 💎 Amenities within this popular building include a gym, sauna, Jacuzzi, indoor heated pool, large deck with furniture and grills, valet / cleaners, self parking heated garage with car wash station, garage attendant, door staff, engineer, an on-site manager, and free guest parking🔥|💸 $1,695,000 |📍400 E Ohio St, Unit 4901, Chicago, IL 60611 . . . . Repped by Steven Powers with Century 21 #chicagorealestate #streetervillechicago #streetervillecondos #chicagoluxuryhomes #chicagohomesforsale #streetervillerealestate #rooftopdeck #penthouseduplex