Sarasota FL Real Estate Blog

How Hurricanes & Tropical Storms Affect Real Estate

Hurricane & Satellite

As Tropical Storm Debby finally leaves Florida, it's a good time to talk about how tropical storms and hurricanes affect the Sarasota real estate market. Sarasota has never actually had a direct hit from a hurricane but, over the past few days, we've seen the impact tropical storms can have. Weather aside, tropical storms and hurricanes also have a direct affect on the real estate market.

One of the most si-highlight--primary things to be aware of is insurance. Insurance policies can't be implemented in the middle of a storm, which can delay closing or put you on the hook for any damage to the property.

Most insurance companies use a "box" to determine when Florida is in a storm zone. This box tends to be 20 degrees north latitude to 80 degrees west longtitude, but some companies favor an even larger region.

It's also si-highlight--primary to note that there is usually a 30-day delay on flood insurance, even after the moratorium is lifted. In a region like Sarasota, where we do see flooding on an annual basis, this should be a factor to consider during negotiations.

All property owners are advised to sign home and flood insurance as soon as you are under contract. It's often possible to secure a date ahead of time to...

Rate Hikes: A Necessary Evil?

Desperate times call for desperate measures. That's what Florida insurers and lawmakers are saying in the newest chapter of the state property insurance saga. The commonly held belief in the aforementioned circles is that property insurance rates are too low to actually cover the costs of catastrophic damage. Florida StormThis truth cuts especially deep in the wake of the devastating natural and environmental disasters witnessed by Floridians in the last ten years.

So, are rate hikes the future of property insurance in Florida? Consumer advocates don't think so. There's a growing number of people who believe that increasing property insurance premiums is simply a grab at a more substantial pot o' gold. They assert that state insurance is trying to line their own pockets by creating a culture of fear.

What's your opinion? Do you feel that insurance rates should go up to account for the risk associated with living in coastal state prone to cyclones, hurricanes, flooding, and other issues? Or do you believe that this is a money grab, pure and simple? Weigh in via the comment section below and let us know how you really feel!

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Rediscovering the Sarasota Farmers Market

Sarasota Farmers MarketEvery Saturday morning, before 7 AM, something wonderful happens in Downtown Sarasota. Artisans are arranging their soaps, textiles, and other wares. Farmers are unpacking fresh fruits and veggies, bracing for the rush of early bird shoppers eager for great local food. The Sarasota Farmer's Market has become a weekend tradition at the intersection of Lemon Ave. and Main St., attracting countless tourists and long-time Sarasota residents since its humble beginnings in 1979.

A trip to the farmer's market reveals so many surprises. Over 5000 square feet of plants, fruits, vegetables, arts and crafts, baked goods, and so many other local and/or handmade products and services are there for the exploring, every week from 7 AM to 12 noon. Always popular are the food and beverage vendors. Offering coffee, sweets, and other tasty treats to hungry shoppers, these businesses ensure you'll never leave the market on the empty stomach. You'll find packaged foods too, which you can purchase to enjoy at home, if you can wait that long!

Plants are popular here, with so countless varieties and species to choose from. Herb plants, veggie starters, ornamental flowers, shrubs, and...