Flood Insurance News for Sarasota Buyers and Home Owners

By
Real Estate Agent with DWELL REAL ESTATE BK3105105

 

Flood Insurance News for  Sarasota  Buyers  and  Home Owners

 

No matter how much we manage to work our way Florida Insurance back to an improving real estate market  one thing and then another continues to stand in the path of recovery.   Tom Luzier, one of our favorite closing attorneys, has this to say about the new Flood Insurance Rules that are set to go into effect on October 1st for the state of Florida. 

 

New Flood Insurance Rules Have Consequences For Florida Realtors And Their Transactions

 

He explains very clearly the ways in which this will affect both buyers and current property owners in the aftermath of hurricane Sandy.  What I find the most interesting about this is that in a period in our history when  one of the “hot buttons” is about the widening gap between the middle class and the wealthy is that by passing this legislation, it almost goes without saying that the average person requiring flood insurance may now be forced to sell their property leaving waterfront homes and condos only available to those who can afford to insure them. 

 

More time should have been spent working out a better solution before hastily throwing this bill together and passing it.  Every government action has consequences that should be thoroughly explored instead of just passing it and reading it later to see what was in it. 

 

(Permission was received from Mr. Luzier to use his article.)

 

Posted by

 Looking for a great real estate agent in the Sarasota area? 

 

Marnie Matarese |Broker Associate | GRI|RSPS|SRES | DWELL Real Estate 

MARNIE@CALLMARNIE.COM 

DIRECT:  941-809-8099 

 

www.callmarnie.com  

1947 Ringling Boulevard

Sarasota, Florida 34236

 

  

          

 

 

 

 

 

 

 

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Chris Ann Cleland
Long and Foster REALTORS®, Gainesville, VA - Bristow, VA
Associate Broker, Bristow, VA

Flood insurance rules are definitely something that buyers and sellers in Florida need to stay abreast of.   It's good that you are providing them the resource for that.

Sep 19, 2013 07:57 AM #1
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