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Tag Archives: St. Petersburg Times
Sinkhole insurance affects housing market
A friend asked me earlier this week if the proposal by Citizens Property Insurance to increase premiums for sinkhole coverage by more than 400% would affect the Hernando County housing market. If it wasn’t such a serious question — with such certain consequences — I might have laughed. It’s sort of like asking “If Congress doesn’t raise the debt ceiling so our government can pay its bills, will it affect our national economy?” The prevalence of sinkholes in this region of Florida has had an impact on the housing market for a decade. But the problem has escalated in recent years because of several reasons, including the burden that development places on Florida’s fragile geology, misguided legislation by state lawmakers, the Great Recession and fraudulent claims. Those factors have now converged to create a perfect storm that threatens to steer the Tampa Bay housing market, which was just beginning to … Continue reading
Housing reports bode well for Hernando County
It may not be ready to dance a jig just yet, but the home-selling industry in the Tampa Bay region is on its feet and feeling the rhythm of the beat. News came earlier this week that for the first time in almost 5 years, the median selling price of a single-family home in the Tampa Bay region either rose or held its own for a six-month period. That is the first time that has happened since 2006. In addition — and this is equally encouraging — the median sale price of a single-family home in the five-county region of Hernando, Citrus, Hillsborough, Pasco and Pinellas counties increased 18 percent, from $107,500 in January to $127,000 in June. You can read more details in this link to a story in the St. Petersburg Times by staff writer Mark Puente, but my take on it is this: After several years of … Continue reading
Hernando County real estate market mirrors Tampa Bay trend
Finally, the statistics are bearing out what we have known for several months. Florida’s real estate market, and particularly the Tampa Bay real estate market, is on the rebound. A recent story in the St. Petersburg Times reported that existing home sales in the Tampa Bay area notched a 36 percent increase from February to March 2011. According to the article, which was based on information supplied by the Florida REALTORS® and National Association of REALTORS®, it was the biggest increase since late 2005. The article magnified those statewide numbers to include existing home sales in Pasco, Pinellas and Hillsborough counties from February to March, and that uptick came in at 32 percent. That is more than double the 15 percent of existing home sales statewide since March 2010, and more than five times the national average during the same period. Unfortunately, the Times did not include Hernando County in … Continue reading
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