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...]
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...]
Competition -The Basis for Capitalism and Exceptionalism
Competition is the engine of any successful venture. Capitalism depends on continued thought, creativity and work to stay alive, but most especially to excel. When a business relies on one model, thought or product, the result is lower demand, lower prices and stunted growth. When the monopoly is a service company that represents others, it is the “others” that suffer the consequences of declining demand, while the monopoly barely notices the downward curve in returns: they know no other … [Read more...]