Property Owners Should Be Thankful For 2013

What a year it has been!  Christmas is just a week away, however, property owners in Southwest Florida have already received their gift. Greater Value!!  It has been 8 years since we have witnessed a sizeable increase in property values and finally, in 2013, that all changed.  As evidenced in the chart below, early 2012 is when we began to see an increase in value. Then in 2013, there were significant increases in value, especially the last two months.  Despite this good news for property owners, it is important to be mindful of market conditions that we've experienced in the past.  Sharp quick gains in value can be followed by a correction and drop in value.  Hopefully, that will not be the case and the increasing trend in values will continue.  Have a wonderful Christmas and Happy New Year!  

 

Flood Insurance Reform Act of 2012

In July 2012, the U.S. Congress passed the Biggert-Waters Flood Insurance Reform Act of 2012 (BW-12) which calls on the Federal Emergency Management Agency (FEMA), and other agencies, to make a number of changes to the way the National Flood Insurance Program (NFIP) is run. Some of these changes already have occurred, and others will be implemented in the coming months. Key provisions of the legislation will require the NFIP to raise rates to reflect true flood risk, make the program more financially stable, and change how Flood Insurance Rate Map (FIRM) updates impact policyholders. The changes will mean premium rate increases for some—but not all—policyholders over time. Homeowners and business owners are encouraged to learn their flood risk and talk to their insurance agent to determine if their policy will be affected by BW-12.

Southwest Florida Fun Fact...

Standing on the shores of Southwest Florida overlooking the Gulf of Mexico, one can enjoy an endless view across the 9th largest body of water in the world.  Large in surface area, much of the Gulf of Mexico is incredibly shallow.  The Southwest Florida coastline, the flattest in the nation, projects out into the Gulf of Mexico at a very gradual rate offering less than impressive depths of 25'-30' at more than 15 to 20 miles off shore.   These shallow waters contribute to some of the warmest coastal waters in the nation during the summer.  It is not unusual to have several months of water temperatures at 90+ degrees.

Have any Family or Friends interested in Southwest Florida?

I would be more than happy to send them information or include them in this mailer.  Please do not hesitate to contact me if you or any friends or family have questions or would like to learn more about beautiful Southwest Florida.