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LUXURY REAL ESTATE NEWS
November 2022 |
The State of Florida's Property Insurance Industry
Florida's insurance rates have almost doubled in the past five years. Here are two timely articles that explain the current state of the industry
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In the last two years, more than 400,000 Floridians have had their policies canceled or non-renewed. Fourteen companies have stopped writing new policies in Florida, and six have gone bankrupt in 2022. The obvious challenge to underwriting a property insurance policy in Florida is the high threat of storm-related damage. However, the market's instability due to roofing fraud is also contributing heavily to the current hard market. Tanis Perez, Area Executive Vice President of Private Client Services at Premier Concierge Insurance, explains the extent of the fraud being committed by predatory roofers. He also offers suggestions on how to keep your insurance costs down. |
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For more information, answers to your insurance questions,
or a review of your insurance needs, contact:
Tanis Perez | 305-894-4363 |
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How Florida's Insurance Industry declined and how the state's insurer of last resort, Citizens Property Insurance, can weather the storm
Even though home insurance rates in Florida are nearly triple the national average, insurers have been losing money. Now, insured losses from Ian are estimated to exceed US$40 billion. Hurricane risk might seem like the obvious problem, but there is a more insidious driver in this financial train wreck. Finance professor Shahid Hamid, who directs the Laboratory for Insurance at Florida International University, explains how Florida's insurance market got this bad -- and how the state's insurer of last resort, Citizens Property Insurance, now carrying more than 1 million policies, can weather the storm. |
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Does My Home Have
Hurricane-Impact Glass?
In the aftermath of Ian, buyers want to know if a home has hurricane-impact windows and doors
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If you're looking to buy a luxury home in Florida or are examining your windows for their impact resistance, how do you find out what kind of glass is in a home's windows? Hurricane-impact windows typically have a permanent marking printed or etched near one of the corners that include the name of the manufacturer, the year of the ANSI standard used to manufacturer the window, the impact rating for the glass and the thickness of the glass. However, even if you find the marking/label on your window, it's best to double-check with a window professional to make sure the windows meet current standards.
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| FEATURED LISTINGS |
Here is a preview of our featured listings.
Contact me if you have interest. |
 LIDO SHORES
1475 John Ringling Parkway
4BR/4BA/3,930SF | $6,700,000
Lido Shores contemporary coastal home with 143-ft. waterfront on New Pass between the Gulf of Mexico and Sarasota Bay. The location is all about the Salt Life. The deep-water dock has two lifts -- one for boats up to 1,600 lbs. and one for recreational water craft so you can easily spend the days exploring and enjoying Sarasota's extensive waterways. For the beach lover, Lido Shores has secured private access to secluded North Lido Beach. |
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1.4 ACRE BAYFRONT ESTATE
1081 Bayshore Drive
5BR/5.5BA/8.383SF | $4,995,000
Wow…this exquisite bayfront residence is built for Florida! No harm done by Ian thanks to an impressive list of protective features: base elevation is 14 feet above high tide, cinder block construction with reinforced rebar, roof clips triple secured, no large trees, shutters on all windows, 14-ft. x 12-ft. Euro-Wall impact rated for 155 mph wind, generator provides power to 50% of the home, electric panel hard-wired for easy start up of generator, two 100-lbs. propane tanks for generator. Property protected by Manasota Key barrier island and concrete seawall. |
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 TURTLE BEACH
1200 Tree Bay Lane
4BR/3BA/3,653SF | $2,495,000
The beach life. The boating life. This fun-loving coastal home is the perfect hub for celebrating Siesta Key's sun and fun. Just pack up your cooler and there you are! Within an easy 4-minute stroll, you can bask on the quartz-crystal sands of Turtle Beach or get in your boat at neighboring Bayfront Marina. A complimentary 6-month Boat Club membership is included. Love the salt life! |
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 Founders Club
4BR/4.5BA/4,024SF
$2,395,000 |
 Lido Beach
2BR/2BA/1,532SF
$1,500,000 |
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 Downtown
2BR/2BA/1,336SF
$1,145,000 |
 Siesta Key
2BR/2BA/1,450SF
$795,000 |
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| BUYERS WHO BOUGHT & WON |
In the last month, the Peter G. Laughlin Group
helped these buyers create outstanding results with masterful
negotiating skills.
Let's work together to find the home of your dreams. |
 Longboat Key
$1,500,000 |
 University Parkway
$1,600,000 |
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Home Ownership Wins Over Time
Equity increases your wealth as a homeowner
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If you're questioning whether or not to buy a home this year due to today's cooling market, consider the long-term financial benefits of homeownership. As a homeowner, equity increases your wealth. The map above is a look at how home price appreciation alone can really add up over time. On average, nationwide, home prices appreciated by 290.2% since 1991. Homeownership wins in the long run. If you're ready to buy a home, let's connect today.
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A Better Way to Interact with Sarasota Real Estate
A better, faster, safer way to search with a direct connect to your Sarasota Real Estate Advisor
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- Did you know that national real estate sites like Zillow, Redfin and Realtor.com sell your information to the highest bidder?
- The Sarasota Luxury Homes app is a better,
faster, safer way to search.
- Get the power of our local MLS in the palm
of your hands.
- Search, save and set notifications all while being
just one touch away from your Sarasota Real Estate advisor -- by message, call, text or email.
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