How Hurricane Ian Affected the Market
Many people affected by Hurricane Ian are still having issues with insurance.
When Hurricane Ian came through southeast Florida, it smashed Fort Myers and did serious damage to Sanibel Island, knocking down the causeway there. Our hearts go out to everyone in that area.
If you have insurance issues, keep working with the insurance companies to resolve things. There was about $40 billion worth of damage done, so we’ll have to see what happens to the insurance industry. Premiums will most likely rise, but the long-term effects of this are something that we can't accurately calculate, from a market perspective.
Will we see more people move to the southeast? Short-term rentals have increased, but the long-term isn’t certain. The effects of Hurricane Ian may ultimately bolster some of the real estate markets in the outlying areas.
Reach out to your real estate agent to help you work with the insurance companies, and let us know if you have any other questions. We'd love to help you with any of your real estate needs, especially through this tragedy. Call or email anytime.