Hurricane Irma Real Estate Deals On Sailboat Waterfront Homes?
Hurriance Irma was actually kind to the homes in Punta Gorda/Port Charlotte Area of Southwest Florida. Some damage here and there but the houses only suffered minor damage, if any. Most of the people I know suffered no real damage. There have been some seawalls collapse however which was the result of loss of water. Essentially, we had minimal tidal surge but similar to Hurricane Charlie the hurricane removed water from the canals. In fact, many seawalls had no water on them at one point. The lack of hydro-static pressure on the waterside allowed weaker seawalls to tumble and fracture on the land side. With this aside, the big question is: Will there be some great deals after the hurricane on sailboat and power boat waterfront homes?
Historically if you look at Hurricane Charlie, there were some great deals right after the hurricane and then prices went very high. Within a year prices rose significantly and continued for some time after that. Charlie however left many homes badly damaged and there was a supply and demand issue that influenced a rise in prices. Irma on the other hand has not created an absence of available homes. However, there are likely to be many that cannot deal with the stress of what took place and may want to sell and get out of here. What a shame for them and perhaps an opportunity for you. Others, with damaged seawalls may not feel like waiting for repair and move on allowing the next person to deal with it. For now, no one knows for sure if there will be great deals coming, a rise in prices, lower sales or increased sales. If you are looking for a deal, contact me. I will keep an eye out for any under-priced deals or fire sales and let you know as soon as they come onto the market.
