It’s been raining here for quite sometime now and we’re experiencing gusts of what appear to be up to 50 mph at the moment.
Am I worried about the storm? No, not really, but I do expect a ton of rain and wind, even though the storm has lowered to a Category 1. I had to re-schedule showings for waterfront condos from this weekend to next weekend, due to the storm, but I did manage to get one waterfront condo under contract just before it hit. Florida does have storms during storm season, but this year’s storm season has been a little bit more active than usual.
What real estate buyers need to know about storm season in Florida:
Flood insurance, which mortgage lenders typically require for waterfront property, is extremely difficult to get when a storm of any sort is in their storm box, so if you have recently contracted to purchase waterfront property be sure to apply for it once Frances is off the radar and before any other storms are on radar. If you purchase with cash, flood insurance is not required, but it is recommended unless you are on a floor located well-above ground-level, but remember that if you have a garage or storage on the ground floor, you still could be effected by a flood.
If you are in Pinellas County in a low-lying area or mobile home, go to a shelter before noon today. There is a tornado watch until 2 p.m., likely to be extended. Click here regularly to find out more about Tampa Bay evacuations courtesy of the St. Petersburg Times.
Do not expect a quick drop in property values due to any storm damage that occurs. Because damage may create less available property to purchase it may lessen supply, while demand will likely remain high. People continue to search for homes, condos and other waterfront property on my website, even as we are feeling the effects of the storm.
I will be linking to places where generous folks can sign up to volunteer and donate to help those who have suffered, are suffering and perhaps will suffer any negative effects from Hurricane Frances, as I did for Hurricane Charley victims via my website. Please do whatever you can to help Frances victims. Thank you for all that you do.