While the cleanup of the oil spill in the Gulf continues, REALTORS® in the affected Gulf Coast areas of Louisiana, Mississippi, Alabama, Florida, and Texas are figuring out how to process claims and keep their businesses going in this challenging environment.

Gulf Oil Spill Claims

As of August 23, 2010, claims are no longer being administered by BP. Instead, the Gulf Coast Claims Facility (GCCF) is handling new and existing claims. For more information, contact them:

• By e-mail: info@gccf-claims.com
• By phone: 800-916-4893
• On the web: http://www.gulfcoastclaimsfacility.com/

Real estate professionals whose businesses may have been affected by the spill should contact the REALTOR® association in their respective states regarding claims:

• Alabama Association of REALTORS®
• Florida REALTORS®
• Louisiana REALTORS® Association
• Mississippi Association of REALTORS®
• Texas Association of REALTORS®

NAR Meets BP Compensation Chief

On July 27, BP Oil Spill Claims Administrator Kenneth Feinberg took time out from his daily rounds of Congressional testimony to meet with NAR Chief Executive Dale Stinton and others regarding claims for lost income being filed by real estate professionals throughout the Gulf coast region. NAR made the case for fair and equitable treatment for real estate professionals in handling compensation for lost business and income.

Pictured from left, Alabama Realtors Executive Vice President J. Danny Cooper, Kenneth Feinberg, Dale Stinton, Louisiana Realtors Chief Executive Officer Malcolm Young, and NAR Chief Economist Lawrence Yun.

For details, visit our Speaking of Real Estate blog post: REALTORS® Meet with Gulf Claims Chief on Hardship. 

Economic Impact on Real Estate

The aftermath of the April 20 oil spill is playing out in different ways around the Gulf Coast. REALTOR® magazine covers the economic impact:

• Crude Summer: The Economic Impact of the Oil Spill
• Commercial Real Estate: Spill Breeds Distress, Demand in the Gulf
• Slideshow: Living with the Spill

Read first-hand accounts from REALTORS® in the region:

• Crude Summer: The Aftermath
• Grand Isle, LA
• Houma, LA
• Gulfport, MS
• Boca Grande, FL

To read more, visit NAR's Info Central blog post: The Gulf Oil Spill and the Impact on Real Estate. 

In the Gulf with National Association of REALTORS®

In June, REALTOR® Magazine visited the Gulf Coast and spoke with REALTORS®, home owners, seafood-industry business owners, real estate lawyers, environmentalists, and even a representative from BP. Read the posts on the Speaking of Real Estate blog:

• Potential Economic Impact in Houma
• Communities Oppose Drilling Moratorium
• How the Oil Spill Is Impacting Real Estate
• A First-Hand View of the Oil Spill

Additional Gulf Oil Spill Contacts

• To report wildlife injured by the spill, call 866/557-1401.
• To report oil on land, call 866/448-5816.
• To get information on how to help and register to volunteer, call 866/448-5816.
• To get information on assistance for small business owners, visit DisasterAssistance.gov.
• Other Gulf Coast contacts and resources.