Useppa Island Real Estate Market Report - Fall 2014 Useppa Island real estate activity has been marked by unusual late summer closings, and early fall contracts. There was a late August closing of Grand View Cottage in the Village to a family from Iowa, and an October closing of North Point Cottage, to existing Useppa residents, who now have two Useppa homes; one for personal, and one for rental. So far, 2014 has seen four single family closings, three of them to Useppa residents, and one to … [Read more...]
U.S. luxury investors to buy big in 2015
With Luxury Home Buyers looking to Purchase in 2015...Useppa Island is the perfect place to escape. Luxury investors to buy big in 2015 : NEW YORK – Oct. 6, 2014 – The market for U.S. luxury homes will maintain its momentum next year, according to a Coldwell Banker poll of individuals with a net worth of $5 million or greater. Nearly half – 48 percent – reported plans to purchase a luxury property within the next 12 months. The bulk of activity is expected from Millennials: About 81 percent … [Read more...]
Where are Mortgage Rates Headed?
Where are Mortgage Rates Headed? The interest rate you pay on your home mortgage has a direct impact on your monthly payment. The higher the rate the greater the payment will be. That is why it is important to look at where rates are headed when deciding to buy now or wait until next year. According to a recent article in Kiplinger, 30 year mortgage rates are about to increase: “Now around 4.1%, rates will edge slowly toward 4.4% by the end of this year. Then they’ll follow the … [Read more...]
Selling Your House? New Construction Is Big Competition
Thinking of selling your house? New Construction Will Soon Be New Competition Useppa Island is about to see some new construction. A Sarasota custom builder is planning on starting their personal home soon in the Rum Cove neighborhood of Useppa. VIP construction is proposing 2 new homes in the next year. The following Trulia survey says that makes the present an opportune time to sell. However, it also creates opportunity to buy existing homes and renovate, at a cost well below the new … [Read more...]
New Study says Real Estate Market to See Upward Trend
New Study Reveals Optimistic Expectation for Real Estate Market RCLCO released, this week, a portion of their 2014 National Market Sentiment Survey and results indicate a—steady, moderate growth. Market sentiment for real estate in general is moderately optimistic, but these new results say the market should expect to see moderate to significant increases in home prices over the next 6 to 12 months. This trend should be particularly strong for Useppa Island, a laid back tropical island … [Read more...]
Looking to buy real estate near the water? Update on Flood Insurance Rates
Useppa Island Real Estate Continues to Watch Flood Insurance Rates. Lloyd's of London and other private insurers have muscled into the market, picking up customers stunned by rate hikes under the National Flood Insurance Program. The emergence of private companies into the market could be a boon for thousands of Floridians who face huge rate increases under the federal program because their homes were built decades ago in low-lying areas. Lloyd's, the venerable London-based institution, began … [Read more...]
304 Useppa Island – The Price of Paradise Just Got Better
The Price of Paradise Just Got Better at 304 Useppa Island One of only 110 homes on Useppa Island, it could be called one of the most romantic location on Florida's Gulf coast. The grand double-door entry is a prelude to the three story “Old FLORIDA” coastal vernacular of nearly 3,300 sq. ft. Dramatic living spaces include lofty ceilings, center island granite kitchen opening to a generous dining room and living room with fireplace. An expansive screened porch features a breathtaking panorama … [Read more...]
Private Insurers Start to Offer Flood Insurance
Flood Insurance Thoughts to Consider While traveling back to Useppa after a meeting of Lead RE Companies of the World, the following article was published in the WSJ. Thanks to Fritz Lehman for alerting us. Surprisingly, there are a growing number of companies now willing to write flood insurance-and the market for reinsurance is growing as well. As the author points out, the private market is depending on FEMA sharply increasing government rates. So, as capitalists what do we think of this … [Read more...]
Flood Insurance Update – Useppa Island
Biggert-Waters flood legislation continues to make a splash (sorry, couldn’t help it). The incompetence and secrecy surrounding the FEMA plan is ludicrous. Here is a plan deeply in debt primarily due to FEMA writing insurance on properties below sea level-as in New Orleans/Katrina. Plus the low lying areas that were built upon decades, if not a century, before flood insurance became a federal program. Now it has become another transfer of wealth from the middle class. Read the following article, … [Read more...]
Florida Real Estate Market Trends – Useppa Island Homes
Why buying Your Useppa Island Home - NOW - may prove to be a smart investment If you ever needed a compelling reason to buy your Useppa Island home NOW, take a look at the following Florida Realtors Residential Price Index. Read the Full Report Real Estate Market Trends Focus on Chart 2, Actual Price Behavior and Prior Trends. This chart depicts current values (the blue line) and where they would be (the dotted line) had Florida not experienced the severe market disruptions from … [Read more...]