Pat Wilkins of RE/MAX Affinity plus on Marco Island posts a video of Hurricane Ian damage and the quick recovery with beautiful photos for inspiration. Come Visit Marco Island.
How to Reach Your Insurance Company?
Here’s a list of most Fla. insurance companies – their websites, phone numbers and other pertinent post-disaster information.
Here are phone numbers, websites and email addresses for property insurance companies serving Florida. Unless they need emergency repairs, policyholders are urged to first contact their insurers with damage claims before signing over their benefits rights to repair contractors.
Waiver Can Speed Flood Relief to Homeowners
Owners with national flood insurance should get money faster: FEMA ratified a waiver of the full-claims process after Gov. DeSantis and CFO Patronis requested it. “Anyone affected by Hurricane Ian who has an NFIP flood insurance policy and has suffered flood damage should begin filing their claim now, even if you have not returned home yet,” FEMA says in the release.
Resources for Seniors Living on Marco Island
When the time comes to rely on resources for seniors, it's important to have an expert on your side. Colleen Johnson, the Community Outreach and Aging In Place Advocate with Homecare.org is a colleague of ours with all the information and support you need to prepare for senior living on Marco Island. Reach out to Homecare to learn more about rallying all the support you need, for yourself or a loved one.
5 Ways to Enjoy Nature on Marco Island
Marco Island is one of the best places to live or vacation in Florida's Ten Thousand Islands, featuring a beautiful combination of dining, shopping, golf, resorts, beaches, and necessities. If you love spending time in the great outdoors, you will love checking out these 5 ways to enjoy nature on Marco Island.
Patrick Wilkins IN THE NEWS!
The City of Marco Island is celebrating it’s 25th Anniversary of becoming a city and RE/MAX Affinity Plus published an article in the local Coastal Breeze Newspaper on doing business in Marco Island. RE/MAX Owner, Rocky Farhat published a congratulations ad and Pat Wilkins had a press release published recognizing the highest price recorded sale in Marco history.
Is the Real Estate Market in Florida Slowing Down?
If you are keeping up with headlines, you may be concerned that the real estate market is slowing down. Rising interest rates and concerned buyers are influencing a cool down in many US markets. In some places and in some ways this is true, but Florida is not feeling these effects. With 25 of the most overvalued housing markets in the nation, Florida remains a hot and competitive place to deal in real estate.
Rising Demand
While interest rates are rising nationwide in an attempt to mitigate inflation, there is a more foundational factor in play that determines housing prices: supply and demand. In Florida, the demand for real estate continues to grow much more quickly than supply is increasing. This rising demand is keeping things competitive in nearly every Florida market.
Rising demand for Florida housing is a result of multiple factors, including an influx of new Florida residents and increasing numbers of real estate investors looking to Florida markets for their new income properties.
New residents are flocking to Florida for many reasons, including political preferences and economic pressure that are both coming as a result of pandemic conditions. In addition to this, Florida remains a popular choice for anyone looking to buy a retirement home or relocate to a warm and sunny climate.
Real estate investors have always looked to Florida as a lucrative vacation rental market, but this has only increased in recent years. Florida was one of the first beach vacation destinations to open up after the pandemic, making it a prime choice for those looking to invest in properties that would be immediately rentable.
All factors that are increasing demand in Florida are expected to remain present in the market for the foreseeable future, meaning you can reliably expect your investment in Florida real estate to continue to appreciate.
Limited New Construction
Not only is demand for Florida real estate rising, but with a limited supply, prices remain high. New construction developments in Florida are few, meaning there is not a significant change in supply to meet the huge increase in demand. Undeveloped land is also in limited supply. These factors both contribute to a remaining strong seller's market in Florida.
Additional: 30 Thrifty Ways to Furnish a New House
Will there be another housing crash?
Click bait headlines wanting of an impending housing crash are popping up all around. Is that something Florida buyers should be concerned about? Experts don't think so. Conditions may look similar to 2007-2009 right before the housing crash, but there are some vital differences that will keep us from another crash.
One of the major reasons a crash like in 2008 is unlikely is supply. In 2008, the housing crash was related to a major surplus in homes as many homeowners entered foreclosure on homes they purchased with faulty loans, which are no longer allowed. In Florida, even if prices were to lower somewhat as interest rates rise, there is little to no danger of having a massive supply surplus. Both renters and homeowners are facing similar price hikes, with many people waiting to invest in the area no matter what the prices are. This steady demand is enough to cover any minimal change in supply.
Related: 9 Easy Ways to Prepare Your Home for a Fast Sale
The general consensus among experts is that some markets will see a decrease in demand, but a housing bubble and crash is highly unlikely. In Florida, even a decrease in demand is not anticipated. Even with higher interest rates, investors, retirees, vacation-goers, and remote workers looking for a new home in an ideal climate will sustain interest in Florida's market.
Now is a great time to invest in Florida real estate. For more information about finding your ideal property on Marco Island, contact us any time.
