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The Housing Market has been like a Roller Coaster Ride for the Past Decade, are you Ready for the Incline?

2/21/2013

The steep incline in housing market prices between 2003 and 2005 caused a bubble in the market and when the bubble burst the ride down was quick. Homes that were once valued at $400,000 in 2005 were now only worth half price by 2007 and 2008. By 2009 we saw homes being purchased for the same price they had sold for in 1999. Could this mean that the housing market over corrected itself?

In 2009 and 2010 market prices became somewhat stable, similar to the last few moments of the roller coaster ride when it is coming to an end and you’re glad you survived.

Historically in normal housing market conditions, prices increase by 3 to 4 percent per year, but in the past couple of years we have seen prices increase at a rate of 8%. So are we headed for a “new bubble” or did the over correction of housing market prices in 2009 cause prices to increase more rapidly just to catch up with the new normal of 2013?

Overall it is a great time to buy and sell property, with prices bouncing back and low interest rates, it’s a win win for both buyers and sellers. Please contact me for more information.

For more information about housing market click here.

Bev Dudley, Realtor®
Fleur de Lis Realty
850-240-3933
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Why do I need a Wind Mitigation Report?

2/8/2013

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Have you been told by your insurance company that you need a wind mitigation report to get a discounted rate on your home owners policy? Are you skeptical about paying $75 for a Wind Mitigation report? Don’t be, this $75 could save you hundreds or thousands of dollars over the next twelve months and years to come.

A wind mitigation report is to determine how your home will hold up under the Hurricane conditions we face each year in Florida. After the storms of 2004 and 2005 the State of Florida changed building codes to help homes along the coast withstand stronger winds than ever before. So if your roof was installed in 2005 your home should be up to code and pass the wind mitigation report with flying colors.

For instance, recently I was helping a client to secure insurance
on a bay front townhome. The cost of the insurance was around $3000 per year. I found that the roof had been replaced after the storms of 2005 and I encouraged my client to have the Wind Mitigation report completed along with the home inspection. The roof had been installed in 2008 CREDITthe plywood was a certain thickness CREDIT the nails or screws had been installed within the spacing requirement CREDIT and the insurance policy was reduced from $3000 per year to $2377 per year. I discussed the report in detail with the insurance agent and he said “if the clips were installed he could reduce the rate to $1353 per year”. My client is planning to have the clips installed immediately after the closing to save another $1000 per year on his insurance policy.

So if you ask me; why do I need a Wind Mitigation Report? I will ask you; will you spend $75 to save thousands of dollars per year?

For more information about Wind Mitigation Reports and inspectors please contact me.

Bev Dudley, Realtor
Fleur de Lis Realty
www.LuxuryGulfProperties.com
bev@sweetandsaltyteam.com
850-240-3933

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The Housing Market has been like a Roller Coaster Ride for the Past Decade, are you Ready for the Incline?

Why do I need a Wind Mitigation Report?

Fleur de Lis Realty

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