Flood Insurance on Useppa Island The Current/Tampa Bay - November 25, 2013 Legislation that sent flood insurance premiums skyrocketing for some waterfront homes and is chilling part of the local real estate market will be reformed by the end of the year, an author of the law said Nov. 9. Homeowners and Realtors have been calling for relief from the stiff rate increases, organizing rallies across the nation, including last month in Tampa Bay, to protest rates that have increased by 600 percent … [Read more...]
Jumbo Mortgages Cheaper than other Mortgages
Considering every property on Useppa Island is going to have a Jumbo Loan (unless purchased for cash) we thought this recent report on the cost of borrowing would be significant for our market. Jumbo mortgages cheaper than other mortgages WASHINGTON – Nov. 14, 2013 – In an unusual move, jumbo mortgages are becoming a bigger bargain over conforming loans. Lenders are offering jumbo mortgages at lower rates – more than a quarter of a percentage point – than conforming loans backed by … [Read more...]
Vacation Home Recovery
The following analysis from RCLCO mirrors the same demand foundation we used at McColgan & Company during the 80’s and 90’s boom in second home communities. We were tasked to appraise and judge feasibility for many developments in areas similar to those addressed in the study. This is a really good read, and especially meaningful for Useppa Island and all the Paradise Coast of SW Florida. Vacation Housing Recovery Tied to Primary Housing Starts Recovery Soon Is Likely in Areas that … [Read more...]
LEE COAST MARKET CONDITIONS
LEE COAST MARKET CONDITIONS-LISTING INVENTORY In this first overview of the market conditions which affect Useppa Island real estate, we have selected the 33924 and 33921 zip codes to provide the most meaningful overview of the housing market. Zip 33924 includes Useppa Island, Cayo Costa, North Captiva and Captiva Islands. These islands are located immediately to the west and southwest, and include a wide array of housing types, ages and conditions-just as Useppa does. We are just a microcosm … [Read more...]