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My buddy who sells real estate (and will be listing my home soon) called me yesterday to see how we were doing after the fires.
He told me that insurance companies have put a moratorium on writing NEW policies in Santa Clarita and local communities and also other areas affected by the wildfires. Those with existing policies cannot be canceled.
He said that many deals are falling out of escrow due to the inability to obtain policies on the transactions. I asked when he thought policies would be available again and he said when the fires have 90% containment they will start looking at offering policies again.
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"There is nothing to be learned from the second kick of a mule" - Mark Twain
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