Flooded homes from Hurricane Ian are now hitting the real estate market in Central Florida. It’s a pattern realtors predict to see extra of within the coming months.
What You Need To Know
- Ian flooded many homes in Central Florida
- Now, many are hitting the market
- An area realtor explains what occurs now
Local realtor Jennifer Grasso shared that for a lot of native owners, that is proving to be an excessive amount of to return again from. Leading them to record their homes at steep reductions.
“People can’t necessarily afford to have all of these repairs done, even if they have homeowner’s insurance. You know there is still deductibles so this can be very difficult for people. As well as it could be their main residence and they have to relocate, and maybe they don’t have a ton of money to put down, and rent is really hight right now,” stated Grasso.
Because of excessive rates of interest, Grasso believes the individuals who will benefit from these homes hitting the market are buyers trying to flip the properties so as to make a revenue. However, she stated patrons have to do their homework.
“I would never suggest purchasing a home without a home inspection so they really need to do the math on what the comps are in the neighborhood and how much the repairs are going to cost, because it can be very expensive to fix a home that is flooded. We are talking dry wall, floors, insulation, and you really have to do your math on that,” stated Grasso.
Grasso stated additionally it is necessary to take excessive rates of interest under consideration, and what the price of insuring the property might be, earlier than ending up in over your head.
Grasso shared what sellers can do to make this course of simpler. It’s getting their residence pre-inspected so potential patrons can have a greater thought of what they’re coping with.
