2 weeks Ago By Moneywise
Over 40 homeowners in Corcoran, California, are still waiting to move into their new homes after 14 months. The issue? The neighborhood has no power, and there’s no timeline for when it will be resolved. Families say they’re stuck renting small, overpriced apartments or staying with friends until the power is turned on.
“We’ve been waiting all this time for our houses, you know, driving by day after day, seeing if anything’s been done and nothing is getting done,” homebuyer Tiffany Murberger Fox26 News. Car insurance premiums in America are through the roof — and only getting worse. But 5 minutes could have you Commercial real estate has beaten the stock market for 25 years — but only the super rich could buy in.
Here's how even ordinary investors can These 5 magic money moves will boost you up America's net worth ladder in 2024 — and you can complete each step within minutes. The developer, D.R.
Horton, and PG&E both say the other is at fault, leaving the families in limbo. D.R.
Horton insists they’ve done everything possible to get PG&E to honor the agreement to provide gas and electricity to the community, while PG&E says it’s on the developer. D.R.
Horton, a development company, built the homes and sold them to prospective homeowners. However, PG&E, the utility company, is responsible for installing power and gas to the homes. Meanwhile, PG&E says they’ve been telling D.
R. Horton the requirements and status of the project since 2021, which includes securing an easement with a neighboring property owner, which D.R.
Horton has failed to do. “We understand that it is extraordinarily frustrating, but this was something that was explained to the developer at the outset before the area was developed,” said Jeff Smith from PG&E. An easement is a legal right that allows a person or company to use another person’s land for a specific, limited purpose.
It doesn’t grant ownership of the land; rather, it grants the right to use the property, commonly for utility lines (electric, water, gas), roads, or access paths. “It doesn’t make any sense that it would fall on the developer and not PG&E when they approved our electrical designs, and now they don’t want to put power,” said Murberger. The supervisor for Kings County, where Corcoran is located, also blames PG&E.
“At a time when the state is fighting homelessness, PG&E is causing homelessness here in Corcoran because they won’t come out and power this up,” he said. “We want power. We don’t want excuses,” Supervisor Richard Valle told Fox 26 reporters.
As homeowners become increasingly frustrated, this raises a harrowing question for homebuyers: Could it happen to me? Rich, young Americans are ditching the stormy stock market — The situation in Corcoran’s Fox Run neighborhood is complicated, but there are a few steps you can take when purchasing your own home to avoid these challenges. First, consider working with a real estate professional who has a good understanding of the market and may be aware of challenges like the ones in Fox Run. Jason Mahill, a real estate agent in Corcoran, for example, is steering his clients away.
“I told my three potential buyers that until I get confirmation that they have power there, I don’t think it would be a good idea to buy in the Fox Run Homes,” he reporters. Several government agencies may also be able to help. The California Public Utility Commission (CPUC) is a state regulatory body that oversees utilities.
Residents can file a complaint with them if the power company isn’t acting in good faith or following regulations. Many states have similar organizations, often called Public Utility Commission (PUC) or Public Service Commission (PSC). The local or state attorney general’s office may also be of assistance, particularly if there are legal concerns, such as a breach of contract.
If all else fails, consider retaining legal representation that specializes in real estate or construction disputes. As frustrating as this situation is for the Corcoran families, their story may help other homeowners avoid similar challenges. Cost-of-living in America is still out of control — , no matter what the US Fed does or says Lock in juicy quarterly income through this $1B private real estate fund — even if you’re not a millionaire.
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