Red zone residents blast 'unrealistic' insurance offer

31/01/2013 9:23:31 p.m.

james wrote:

Actually Mark I live in Christchurch and my house is an economic loss. I also volunteer assisting elderly and disabled in settling their claims so, much to your disbelief I do have some clue of what this is situation is like.What you get in your settlement is different for every house, The issue here is that people have actually not done any realistic research. There are many houses in Christchurch in the sub 400k range. There are still a lot in the sub 350 and sub 300k market. As to their condition Mark, a lot of them are in very good condition and certainly in as good a condition as the house that these folks are leaving. I helped a couple find a a fully renovated TC2 house in Avondale, 3 bedroom, 2 living areas double garage and a decent yard $255,000 (settled two weeks ago). You can't claim others are dreaming if you haven;t actually done any research on the issue Mark.

31/01/2013 7:26:44 p.m.

andrea wrote:

it was an oldish dated house. It wouldn't be worth anymore than they were getting paid out for it. Yes it would cost more to rebuild but then they would get double glazing etc .And I doubt they can rebuild in Bexley as most of it is red zone. Take the land money buy another section and get a rebuild on the house

31/01/2013 2:43:24 p.m.

Mark wrote:

For all people who are commenting on buying a house in Bexlet, and commented it is cheap yes they are but there is a rason for that firstky theyare TC3 and most insurances won't re insure you so why buy in the same location. econdly we are in the same pocition and if you guys read your polciy it clearly indicates that the cost of rebuilt with in the same section and that was the cost associated with rebuilding on the same section, so insurances have been ripping people off from start so please peole if you have no clue or idea what the situation is don't bother making a comment, thats why number of people that have started their proceeding to take their insurances to court they have settlled out of court as insurances don't wannt people to find out they have been ripping people off. I do agree with David every one needs to get around these issues and find a better way of getting their money back after years of paying insurances and the onky way is to buy a land and get insurance to rebuild their house, and then sell it. Sarah also has good point people don't know unless you are in it yourself, You must be dreaming James as you are correct for any run down houses yes you could find under 300k, not permanent material and small size house, why would you trade in for less? who in right mind would.

31/01/2013 11:04:13 a.m.

Sarah Miles wrote:

I find myself upset by some of the comments I read below- they are unnecessary. There are people all over CHristchurch who are struggling and have been since September 4th, 2010. As a Cantabrian myself I ask that the rest of New Zealand support us not throw stones- after all you may find yourself in the same position one day.If you want to understand what is happening here read http://thechristchurchfiasco.wordpress.com/

30/01/2013 12:58:27 p.m.

David wrote:

They should really be borrowing some money to buy a piece of land, getting IAG to build them a replacement house, then sell it to get a better sum of money with which they can go and buy an existing house plus pay back the money they borrowed. It seems nuts, but thats what some people are doing, and IAG should have no problem with it, even though it would cost them a lot more than the current offer.

30/01/2013 11:08:19 a.m.

Paula wrote:

My first reaction was "you have to be kidding" - this sure seemed a lot for a house in Bexley. I then realised that the cost of the new foundations (extra deep) required for rebuilds in Bexley would in fact be VERY expensive. I'm in a similar situation, ie had to get an independent quantity surveyor and his figures were almost double that of IAG's. Imagine just how many people who can't afford to get their own QS done. I'm also one of those who can't live in my home, so I've been classed as a "priority" by IAG/State. What a TUI ad in the making. Nothing has happened on my rebuild to date and yet homes around me with a lot less damage are being repaired.

30/01/2013 9:17:50 a.m.

James wrote:

Jimi Yazdanpanah owns another house in Burnside as well!! I would've thought it would be easy enough to move into that one... or does he already live in it and this is just a play for some extra sympathy?

A quick search on TradeMe with realistic expectations gives over 30 3+ bedroom properties for sale under 300,000 in and around new brighton alone and some of these have been for sale for over 6 months and have all earthquake repairs finished...

30/01/2013 8:15:56 a.m.

K & N wrote:

This house is in Bexley, one of the cheaper area's in Christchurch, it has a RV of $287,000 why don't you do a trademe search in new brighton and avondale christchurh for upto $350,000 you will be suprised.
ps watch this video again, check out the kitchen, this was not a flash house and on a smallish section.

30/01/2013 8:03:14 a.m.

KG wrote:

Parts of this story just don't ring true. I was in the red zone in Bexley, and this looks like Bexley to me. Everyone in the red zone was given a chemical toilet to use, so there is no need to be using a bucket to go to the toilet. The tanks to empty the chemical toilets have not been removed, so this is still an option. I, in fact have one still, if these people would like it, I will gladly donate it to them. Also, how can the water be running in the bathroom, but not in the toilet? and if the sewer is not working surely even flushing the toilet with a bucket is not a good idea. I have moved to Avondale and been keeping an eye on the market in this area, sure it is close to the red zone, but there are a lot of houses in this area coming up for sale all the time. They start at around $275000, and the houses are of the same era as the original Bexley, so is hardly a downgrade. I also find $722000 to rebuild a 4 bedroom, single bathroom home to be very extravagant. As I said, parts of this story just don't ring true. Sorry, but having come from the red zone myself, I know there are options out there, and sometimes it seems to me people are just expecting way too much. I am by no means an advocate of the insurance companies, as I believe on the whole they have acted appallingly during the Canterbury earthquakes, but not sure about this one!!!

29/01/2013 10:40:33 p.m.

Peter wrote:

@ K & N. What country are you living in. Please show us the adverts for homes that are going for 250K. Thats total BS.