For months we’ve been posting updates on the real estate market which up until recently has impacted the local and statewide markets by the higher than anticipated taxes, rising insurance premiums, interest rates and the election. While those factors alone led for a decline in sales and sales prices for most of the state, the devastating effects of the hurricanes over the past few months have had a unique impact of their own, especially to our local markets.
Typically this time of year we not only focus on the year to year sales comparisons, but the year to date recap as well, however, adding in the variable of multiple hurricanes are skewing the numbers resulting in fewer showings, inventory that was damaged or lost this year versus last, and listing prices decreasing. While we would typically see more inventory coming on the market this time of year in anticipation for the upcoming season and the arrival of our winter visitors, we are also seeing a significant number of inquiries by investors looking for opportunistic buys. Unlike Hurricane Charley where Money and Forbes magazines had just voted our area as one of the best places to retire that created an unique competition between investors and buyers vying for limited inventory, there is plenty of inventory for buyers and investors of all types. The silver lining for some is if their homes have not been impacted by the recent storms, those homes will be viewed more favorably and the potential is for shorter times on the market if priced competitively. For others who did not fare as well, keep in mind there is a 50/50 rule that will impact your recovery plans. When in doubt call a reputable contractor to give you an estimate, and who can also determine if any of your damage was wind related or just caused by rising water. Before making any decisions check with your accountant and financial advisor as they will help you decide if rebuilding is a viable option or selling the property “AS IS” is your wisest financial choice.
We often measure one’s success in life by the wealth they’ve accumulated or the position they held on the corporate ladder. We’ve come to idolize sports and entertainment figures, or those we feel can benefit us as we try to attain success. But is that really the meaning of a “life well lived?” To some, it may be.
Several years ago, Toni approached me to help her find a home for her mother, Lin, a widow living in California. While she loved her life in California, Toni felt that her mom was getting older, and it made more sense to have her move closer to her. She quickly became part of a group of friends we met at St. Andrew’s South Golf Club, a course in the heart of the waterfront community of Punta Gorda Isles. Unlike most women her age, Lin, or as many of her close friends who affectionately called her “Mumsie,” became part of the gang and attended most of the club’s social events.
Linda Warwick was born in 1934 and grew up in the east end of London, living with her grandparents, parents, and three uncles in a small home. The east end of London was where the docks were located, and the River Thames ran behind their house. As a young child, factories were turning into munitions plants before her eyes, and a few short years later, the U.K. entered the war. It would be hard for anyone at five or six years of age living in the United States to appreciate the ravages of war. Still, with London being one of the largest cities in the world at that time and home to the British Empire, it became a vital target of the German Wehrmact, (armed forces). On September 7, 1940, later known as “Black Sunday,” the Germans unleashed their fury in a blitzkrieg (lightning war) with 300 bombers targeting London in the first of 57 consecutive nights that continued for the next eight months. Forced to find shelter any way they could, homes in their community were being destroyed, and with the continuous sound of gunfire and sirens echoing in their ears, it was a sobering reminder that their home could be next. Like so many others, they became “evacuees” and retreated to the safety of the countryside, having to, at times, share a home with other displaced families. While it appeared to offer a safer environment, they could see the glowing fires from the bombing raids in the various towns and cities from afar.
Despite the heartache of war, Linda recalls those special moments during the war when friends, relatives, and teachers would give of themselves to make sure the children were spared as much of the horrors of the war as possible. Later on in life, Linda would reflect on how resilient, tenacious, and determined they were not only to survive but to restore their country to its glory once again.
Years ago, I had a middle school teacher tell our class how fortunate we would be if we could count on one hand the number of close friends we had. As Lin was approaching her 90th birthday on July 25th, Toni and her husband Greg were planning a surprise birthday party for her at a local restaurant, to which almost 100 of her closest friends were invited. Unfortunately, five days prior to her celebrated day, she passed away.
While most people would like to talk about themselves, Gary and Gail have always put their clients first, and their diverse backgrounds have provided their clients an unparalleled level of service and knowledge throughout the past years.