First of all, I would like to take the opportunity to reiterate my appreciation on behalf of my family and the community for all of the outpouring of concern that has been demonstrated after Irma. It is amazing to see the determination and the generosity of the first responders, utility workers and volunteers. So many local people have been instrumental in recovery, as well as those who have come to help from around the U.S. and the world. (See picture below of the kind farewell parade to the lineman returning home to their families from up north.)
There are still a lot of families that need our help and donations, let's be clear about that.
But to address the question that I have been receiving lately. "What do you think the storm will do to the housing market?" Wow, what a question for Nostradamus and the boys... But I will take a look at it from what I've been hearing and my thoughts.
In my 19 years of living in the Naples/Bonita Springs we have experienced a handful of hurricane activity, of which I experienced them all in my home or my parents' home (this last one was a family affair which we all spent together). But what I have experienced so far, this is far from a yearly phenomenon for southwest Florida, but does affect ALL southeastern States from time to time.
As mentioned in previous posts, I did learn this:
- 🔨 🏠 Homes built to the newer hurricane codes, faired VERY well. Some roofing tiles, lanai screens and lanai caging can only be expected to suffer some damage, but the structures themselves are impressive.
And with all else considered, there are record amounts of Baby Boomers retiring everyday. On top of that:
- ☀️ 🌴 No chance of snow in the forecast in southwest Florida for a while.
In my opinion, I believe there might be a little lull in activity immediately after the storm. But for the market's sake, September has historically been the slowest month of all. This not only in my 10+years in real estate, but also in our previous 8 years in our retail golf store in Bonita Springs. Seasonal residents returning mid to late October will probably notice a few pruned trees and landscaping for the most part. But let's all continue to help those who were affected most.
An interesting take from a recent CNBC interview at the link below:
Every market is different, even within southwest Florida. If you have questions about your very specific market or neighborhood. Please contact me at any of the sources listed. Looking forward to helping you or those you care about most.