Page 8 August 2016 By Michelle Donati-Grayman With the unexpected happening more often nowadays, buying travel insurance for your next trip may seem like a necessity rather than an indulgence. The terrorist events in Paris and more recently, Brussels and Orlando have some people wary about traveling, especially visiting other countries. “Besides protecting travelers for a variety of things, travel insurance provides peace of mind,” said Vicki Dosdall, travel product manager for AAA Arizona. “Things tend to happen when we least expect them to, and travel insurance can offer financial and medical assistance when things go awry.” As a full-service travel agency, AAA recommends purchasing travel insurance, especially for more expensive trips. And don’t put it off: As soon as you book your trip and put down the deposit, buy travel insurance. You’ll be able to adjust your coverage later if you need to. “If you’re not comfortable throwing away $2,000 or more because you have to cancel a trip after you get sick or have a death in the family, then travel insurance is for you,” Dosdall said. Travel insurance is not a panacea, however. Some consumers believe travel insurance will protect them no matter what happens or why they cancel their trips. Like with any insurance, that isn’t the case. For example, say recent events have caused you to become scared of traveling. Unfortunately, fear is not covered if you decide to cancel a trip. Some travelers believe their credit card company will protect them, but that usually is not the case. Credit card companies won’t help if a flight is delayed and you subsequently miss your cruise. Speaking of health, if you think your health insurance will cover medical emergencies abroad, double-check. Medicare and other U.S. medical insurance in the United States usually don’t cover you once you leave the United States. You might have to pay 100 percent out-of-pocket expenses just to get assistance. Some policies offer a “Cancel for Any Reason” upgrade. This indeed provides more coverage for an additional 50 or so percent to your policy cost, but there are still exceptions. Keep in mind that adrenaline sports, such as bungee jumping, won’t be covered by travel insurance. If you fall and injure yourself during a walking tour, that’s one thing, but if you decide to go skydiving or scuba diving, you’re probably on your own if you get injured. Finally, check to see if your policy is primary or secondary coverage. Secondary coverage requires you to file a claim first with your other insurances, such as homeowner or medical, before the travel insurance kicks in. Primary coverage means that the insurance reimburses you before any other insurance. 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Page 9 August 2016 Arcadia and Biltmore – 2nd Quarter Review At any given time, my team has about 25 listings in the Camelback Corridor area. This high concentration of listings in one area gives us a big advan- tage when it comes to seeing local market behavior. Through our showing activity, open house attendance, and online inquiries we are able to gauge consumer demand first-hand. During the 2nd quarter, we saw a distinct shift in buyer attitudes and actions. We were very busy showing our listings during the quarter, but buyers seemed to just be window shopping. There was no sense of urgen- cy when it came to writing offers. What we saw coupled with the disap- pointing data below leads us to believe that the market is normalizing and reaching a plateau. r e a l e s tat e c o r n e r T U C K E R B L A L O C K y o u r a r c a d i a a n d b i lt m o r e r e a l e s tat e s p e c i a l i s t p a i d a d v e r t i s e m e n t ARCADIA PROPER Q2 2016 Q2 2015 n u m b e r o f s a l e s 3 5 4 0 av g . d ay s o n m a r k e t 1 9 3 8 4 av g . p r i c e /s q . f t. $ 3 9 0 $ 3 4 0 av g . s a l e s p r i c e $ 1 , 6 9 7,4 5 7 $ 1 , 3 3 3 , 0 1 7 As the numbers above show, the Arcadia neighborhood took a step back in homes sales year-over-year, and showed a dramatic increase in days on the market which solidifies my assessment that the market was a bit soft. The days on market were slightly skewed because 5130 E Exeter AKA The Nordon Manor sold after many years on the market. Taking this sale out of the equation reduces the average days on market to 135, which is still well above the 84 days last year. While the market was drastically slower, I should note that there were 9 sales above $2,000,000 during the quarter. T U C K E R B L A L O C K 6 0 2 -a r c a d i a BILTMORE PROPER Q2 2016 Q2 2015 n u m b e r o f s a l e s 2 2 2 8 av g . d ay s o n m a r k e t 1 6 3 1 0 4 av g . p r i c e /s q . f t. $ 2 8 6 $ 2 9 8 av g . s a l e s p r i c e $ 8 5 1 , 8 0 5 $ 1 , 0 2 6 , 2 3 2 The Biltmore market showed the same downtick in activity year-over-year. The number of sales was down and average days on the market increased significantly. In my assessment, both neighborhoods seem to be suffering from too many overpriced listings. Many homeowners are testing the market at higher prices and buyers are not willing to pull the trigger at this price level. It is good to note that the homes that sold during the quarter listed within an average of 6% of final sales price. Price it right and it will sell. In closing, I wanted to let you know that I refinanced my home on July 8, 2016 at 3.25% on a VA loan. Transparency breeds trust… I wouldn’t recom- mend anything I wouldn’t do myself. If you are planning to stay in your home, I would urge you to take advantage of the BREXIT fears and current bond market to lock in all-time low rates. Also, a big happy birthday to my wife, Ashley! By Tyler J. Carrell If you drive through Phoenix on a warm summer night, you won’t have to go far to see the glow of tall, white light poles, shining on a school’s baseball fields. If you look closer, you might notice that one pole looks slightly different than the others. It may be slightly larger, or have more equipment on it than simply lights at the top. These unique characteristics likely mean the pole is a cell phone tower. As cell phone use has exploded over the last few decades, cell phone companies have scrambled to build more towers to support the coverage needed for customers. While it’s fairly easy to build towers in less populated areas where there are large expanses of land and a tower won’t be an eyesore, there are challenges doing the same thing in more urban areas such as Phoenix. To solve this issue, cell phone companies have approached school districts and private landowners, offering compensation in exchange for building a tower on their property. Cell phone companies usually ask school districts or private land owners to sign a long-term lease that in short, allows the cell phone company to do two things: (1) construct a cell phone tower on the property, and (2) have access to the property, often called an easement, to repair or improve the tower. Initially, this seems like a great way to make extra income for a district or as a landowner. However, before signing any agreement with a cell phone company, there are several issues the district or landowner should carefully consider. First, an owner should consider what, if any, impact the cell phone tower could have on the value of the owner’s land. Will the presence of the tower make the property difficult to sell? The term of a cell phone tower lease can last up to 30 years, so if the owner signs the lease, there are – for better or worse – lasting consequences. Both private landowners and school districts should also contemplate the impact of the tower on neighbors. A large, ugly cell phone tower could lead to neighborhood strife, and for a school board, political backlash. In Phoenix, most school districts have made a concerted effort to force the cell phone company to build and paint any cell phone tower so that it closely matches their athletic field lights. If the tower is an eyesore, neighbors will not appreciate the possible decline in their property value and could take legal action. Second, the owner or district should review the section(s) of the lease that allow the cell phone company to replace the tower equipment, alter the appearance of the tower, or expand the tower or the land that it covers. Many of these leases give the cell phone company the right, at their sole and absolute discretion, to expand the space that they are leasing. This can be problematic, as the cell phone company may have the right to install fencing or equipment on areas of the land the private owner or district wants to keep clear. Perhaps even more concerning, the lease may allow the cell phone company to add additional equipment to the tower without permission from the owner or district. Thus, even if the tower was built to blend in with the surroundings, a cell phone company might want to improve or increase the capacity of the tower, and change the tower to be larger, bulky and unattractive. Lastly, a school district or owner should consider what access the cell phone company should have to the property. If allowed, a cell phone company may include a provision in the lease where they may enter the property whenever they wish. An owner may want to consider a 24-hour notice provision, a restriction of 9 a.m. to 5 p.m. work hours, or a limitation that any work must be done on the weekends. Overall, entering into a lease with a cell phone company and allowing a tower to be built can be a lucrative enterprise. For a school district, it can provide much needed funds to support education, and for a private landowner, it can be a nice supplemental income. As with any contract, I advise my clients to carefully review what rights and privileges they will grant to the cell phone company to ensure that the benefits of entering into the lease outweigh the costs. — Tyler J. Carrell is an associate at Gallagher & Kennedy. For more information about Mr. Carrell, please visit www.gknet.com/attorneys/tylercarrell. Cell towers on private property LEGAL EASE KACHINA Quality Dry Cleaning 602-955-5540 3926 E. Indian School Road Arcadia Family Owned & Operated Since 1959 Home & Office Pickup & Delivery Available