[janmcn]

The on-line news is reporting there is a sinkhole in the Village of Charlotte on Callahan Drive between two houses. The sinkhole is reported to be ten feet deep by five feet wide.

[justjim]

Wow! That's not good for the neighborhood but especially for those two houses. Sinkholes can pop up anywhere in central Florida but we always think it will be "the other guys" property. Prayers for those involved.

[Villageshooter]

here we go again!, sinkhole in the village of charolttee ,, am sure that we will hear all kinds of tales about this! we need to stay calm and give thanks that is not our home! i truely feel sorry for those whose Christmas that will be disrupted here in the bubble! just keep calm and hush hush!

[Cisco Kid]

Would you buy a house with a repaired sinkhole anywhere nearby ?

[graciegirl]

Originally Posted by Cisco Kid

Would you buy a house with a repair sinkhole anywhere nearby ?

Yes.

[cquick]

I'd rather have a "repaired" sinkhole nearby than non repaired.....

BTW.....all of the land in Florida is over a huge limestone substrate.....ANYPLACE can sink, ya never know.

[janmcn]

Originally Posted by Cisco Kid

Would you buy a house with a repaired sinkhole anywhere nearby ?

It would greatly depend on whether I could get sinkhole insurance because of the repaired sinkhole. If sinkhole insurance was not available, then no.

[rubicon]

Originally Posted by janmcn

It would greatly depend on whether I could get sinkhole insurance because of the repaired sinkhole. If sinkhole insurance was not available, then no.

See the next time someone you know says something bad about insurance companies remind them about how they provide security so you can feel comfortable buying a home

[Kelsie52]

Originally Posted by janmcn

It would greatly depend on whether I could get sinkhole insurance because of the repaired sinkhole. If sinkhole insurance was not available, then no.

It is almost impossible to get sinkhole insurance on any resale no matter where it is

[er9027]

NO, Why would you take a chance? maybe later

[tommy steam]

I hope they can get it repaired and have no damage to their homes.

[Barefoot]

Originally Posted by Kelsie52

It is almost impossible to get sinkhole insurance on any resale no matter where it is:

We had no problem getting sinkhole insurance on our resale CYV in 2007.
And again in 2010, we had no problem when we sold our CYA and bought another resale house.
I didn't realize it is almost impossible. Perhaps we were just lucky. Is this something recent?

[joldnol]

no problem for us either

[maybe]

I think everyone's insurance now covers sink hole damage that makes the house uninhabitable. It is getting coverage for lesser damage that I have heard is now hard.

[JourneyOfLife]

Originally Posted by Cisco Kid

Would you buy a house with a repaired sinkhole anywhere nearby ?

Great question... but IMO, it is opposite of what buyers would (likely) asked themselves!!!

Turn that question around: Why would I consider buying a home with a repaired or unrepaired sinkhole in FL? Especially if there is a supply of other homes on the market!

The short answer for me; I would not be very likely to buy a home with a repaired or unrepaired sinkhole.


This is an interesting article on the topic.

CNN:

Sinkholes have affected property values in neighborhoods across Florida: Few want to buy into a neighborhood where there have been sinkholes. Some have lost more than 70% of their investment, and many have walked away from mortgages.

Florida has lax building standards when it comes to sinkholes. Home builders are not required to do detailed assessments of property to assess sinkhole risk, and because telltale signs are out of sight, under the earth, unsuspecting homeowners can buy into an area without knowing that they may be heading for trouble.

CNN:

Florida is failing its citizens in sinkhole science and policy. It is time for the state to get serious about trying to understand this vexing problem. It is also time for policy makers to take another look at insurance, building codes and land use rules, and it's time to rebuild a Florida sinkhole research institute.

Opinion: Florida, fix sinkhole policy - CNN.com