Adjust policy for empty home

Fallout after an unprecedented national housing boom has put home vacancy rates near all-time highs.

Between foreclosures and homeowners who are struggling to sell other properties, more homes are sitting empty across the country and in the Charleston area. And that trend calls for more property owners to make adjustments to their homeowners' insurance policies.

Homeowners who move out of a property should change their policy to cover their newly vacated home. A state law says an insurance company can cancel a homeowner's "owner-occupied policy" after the property has been empty for 30 days.

"I'd say most homeowners are probably not aware of that," said Allison Dean Love, executive director of the South Carolina Insurance News Service.

When a property becomes vacant, it's more prone to arson and vandalism, she explained. Also, if something goes wrong — such as a water leak or frozen pipes — the damage can pile up during the time it takes for the problem to be discovered.

"If you're away from home and not living in a property, the risk is greater," she said, nothing that some insurance companies may choose not to insure vacant homes at all.

Homeowners who have questions about vacant-home policies or other insurance issues can call the South Carolina Department of Insurance Consumer Services' toll-free line at 800-768-3467 during regular business hours.

Stealing the spotlight

The Charleston area's real estate market got national attention last week when USA Today profiled the area.

The 358-word article noted that the city's Southern charm and "relatively robust economy" have helped stabilize the market. And it pointed to the state's recent property tax reform, which dramatically lowered tax bills for primary homeowners, as an attractive feature.

Reporter Christine Dugas spoke to Ralph Wetherell of AgentOwned Premier Group Inc. , who is president-elect of the Charleston Trident Association of Realtors, and Pam Bishop of Carolina One Real Estate.

The article was published as part of the newspaper's weekly "closetohome" section. The newspaper also recently profiled Santa Cruz, Calif.; Flint, Mich.; and Miami.

Cigar Factory redo

An architectural and engineering services firm that has left its imprint on major developments throughout the Southeast will work on the Cigar Factory project in downtown Charleston.

Stevens & Wilkinson Stang & Newdow Inc. has been tapped by the 125-year-old building's Atlanta owner, the Simpson Organization, to provide its services, according to a statement released last week.

Workers are in the process of renovating the brick building's insides, making way for 66 luxury condominiums, 30,000 square feet of commercial space and 20,000 square feet of office space. The design firm, which has offices in Atlanta and Columbia, employs more than 130 people.

Reach Katy Stech at kstech@postandcourier.com.