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.
For the past month, I’ve been desperately searching for something inspiring to write while recovering from rotator cuff surgery. It’s not how I envisioned spending my summer, but I’m far from unique, as almost everyone I meet has undergone the same surgery at least once! I guess it is somewhat like a rite of passage, although given an option, I would like to have passed through something more pleasurable. As I mentioned in my previous newsletter, there is always a silver lining to every challenge we face. For me, it is twofold, with the first being a reprieve from my wife’s ever-growing honey-do list, which appears to be gaining interest. The second has been a bit of a challenge, as I’ve tried to reflect on other things that would bring enjoyment now that I’ve been forced to limit my outdoor activities.
Every generation has its favorite recording artists and songs, and while some may disagree, music is a language that touches the soul. It’s perhaps one of the last avenues where people can communicate with each other and where emotions and beliefs can be expressed often without fear of a harsh response. Music makes my heart sing, and I find it takes you on a journey through your life. Most people I know can tell you where they were or what they were doing when a particular song they heard hit the airwaves. While listening to music at home or on a road trip is gratifying, there is nothing like seeing your favorite songs performed live.
Almost two years ago, my wife signed us up as members of St. Andrew’s South Golf Club, as it occurred to her I was spending too much time sitting behind a computer or working late into the evening, and my only outlet was doing yard work. Somewhere along the way, I became my father! I wasn’t doing anything fun in my spare time. Try explaining that to someone who spends half their year bundled up during the winter months, and they’ll think you lost your mind when you live on the water and close to a host of golf courses. Sure, there are more challenging courses than St. Andrews; for years, when asked why I didn’t join, I would tease and tell them that due to the relatively flat terrain of the course, that’s where they used to host the areas Greyhound races. Now before you think, “This guy must be some golfer,” let me tell you this course has gotten the better of me in more ways than one. While St. Andrew’s South may not be hosting the U.S. Open anytime soon, this club is second to none in terms of the people we’ve met and the friends we’ve made.
Golfers have their unique brand of humor. They can hit a great shot and tell you it’s just another of the many great shots they routinely make. And no one is quicker to tease you about the shot you just hit into the water or lost in the trees than the guys in your foursome. This may sound cruel to some, but that makes the sport so much fun, and the guys I play with will never miss an opportunity to celebrate your crummy shot. While there is no shortage of sarcasm, they are equally supportive of the good ones too….or at least they feign they are!
While the rest of the neighborhood was sound asleep, I was entertained by some shows and comedians we grew up watching. Between all the documentaries and infomercials, it was as if they were all waiting for me. There was Groucho Marx, All in the Family’s Archie Bunker, Sanford and Son’s Redd Foxx, Don Rickles, Robin Williams, Eddie Murphy, Richard Pryor, Rodney Daingerfield, and George Carlin, to name a few. Shows and comedians I hadn’t seen in what seemed like decades not only took my mind off the discomfort I was experiencing but somehow made me realize the stark difference in the things that entertained us back then and how many of those things couldn’t be said today. How did we become so thinned-skinned that we couldn’t laugh at ourselves or gain a better understanding of life’s injustices without going into the frenzy we see today? Can we blame it all on the media?
We had friends who were politicians and others whose political opinions differed from ours. Maybe it was a time when we didn’t feel like doomsday was right around the corner and the president our friend supported was in the process of driving the train over a cliff. To this day, we still can discuss our differing viewpoints without the thought of a friendship being compromised. I always felt it was better to listen and learn from other people’s experiences, which made the shows I mentioned earlier so special. While most watched them for entertainment or just a laugh at the end of a long work day, I developed an even deeper appreciation of them during these overnight hours.
Don Rickles was an equal opportunity insulter. He made fun of every nationality and race you could imagine. If the celebrity guest or audience member wasn’t quick enough to catch on to his insult, he called them a “moron.” He always followed up with, “You know I’m kidding,” and then would roll his eyes to confirm that person was a moron. Try saying that to someone you don’t know today and see the response you get.
I saved George Carlin for last, as he was perhaps the best regarding social commentaries. In an article written by Helbert Enrique Asprilla, entitled “Why George Carlin Is My Dead Mentor,” he reflects on the life of the late George Carlin, who was known for his “thought-provoking, stand-up comedy, tackling topics such as politics, languages, and the human condition.” Asprilla continues by saying, “Carlin offers a wealth of knowledge and insight, challenging social norms and encouraging us to think critically about the world around us. Whether through his commentary on politics and government, his observations on the human experience, or his critiques on authority and institutions, Carlin’s comedy has much to teach us about the absurdity of the world and the importance of questioning the status quo.” In one of his routines, “Life is Worth Losing,” Carlin relates, “We’re all just temporary custodians of our bodies…we’re just passing through, and this is just a stop along the way.” Asprilla concluded, “Carlin’s perspective on the fleeting nature of life can help us appreciate and make the most of the time we have, rather than getting caught up on the trivialities and materialism of the world today.”
It seems like yesterday when Hurricane Charley came ashore and devastated our area. Call it complacency or just lack of experience, but I haven’t come across anyone who thought that storm was going to take a right-hand turn into Charlotte Harbor and create the devastating damage that it did. Perhaps it was due to having a Governor whose brother was the President of the United States at the time, but the speed at which our area was back on its feet was miraculous, and one that was well-documented in the media. The community came together and with the help of a master planner, our city came back better and stronger than anyone could have imagined. What struck me most was the heartfelt compassion so many had who came to our rescue. Those who tried to gouge, or take advantage of us were quickly dealt with, while others came from all over the country to lend their support.
Our friend and insurance agent was Bill Martin, who owned the State Farm Agency in Punta Gorda at the time. I remember seeing him manning the makeshift State Farm command center that was set up in the Publix Shopping center parking lot in Port Charlotte. People were searching for answers on what to do, still somewhat in shock from the devastation that came upon us almost without warning. Watching Bill handle each person with such style and grace was like having your security blanket. You couldn’t help but feel his sincerity that we would get through this together. For us, it was a seamless transition, as the field adjuster who came to our home was equally caring and conveyed that same feeling that we would be well taken care of, and we were.
Most would agree, Hurricane Charley, inflicted more damage to our area than Hurricane Ian. Perhaps it is due to newer building codes or after going through one hurricane we protected our homes and businesses much better, but overall I think for the exception of some, most fared a bit better. Having dodged a bullet of sorts, I felt based on our past claim experience with Charley, this would be handled with the same compassion. Unfortunately, Bill had retired and the field adjuster we had this time had an agenda. It was very apparent from the outset his goal was to help us as little as possible in recovering from the loss we incurred.
Having been a Realtor for 18 years, we’ve helped many clients over those years navigate inspection reports and repairs so they can enjoy a smooth closing. We’ve learned a great deal from inspectors and contractors alike, and the difference between a repair and replacement. So you can imagine my frustration when our insurance field adjuster went on our 18-year-old roof and after surveying all the broken tiles said, “This can be repaired.” When I asked him about all the loose tiles he missed he replied, “Let me know if you see anything and I’ll add it to my report.” Anyone who knows me, knows I don’t like heights. Unless my roof was the height of my dining room table I wasn’t going to climb my roof to point out all the tiles he missed….thus began my “Art of War.”
How do you know which roofer is being honest with you and not just looking to gouge the insurance company, when all you need is a repair? What about all the other damage to your pool cage or other items that were destroyed? It starts with having a good insurance broker who can guide you through the claims process. Then if you aren’t fortunate enough to get an adjuster who is keeping your best interests in mind, you have to get as many opinions and references as possible before signing anything. Whatever you do, don’t sign over your benefits, otherwise known as A.O.B., and not to be confused with New York Congresswoman A.O.C.
A.O.B. is the acronym for “Assignment Of Benefits” and some people have unwittingly fallen victim to signing these over to a third party, who can be a roofing contractor or someone claiming to be working in your best interests. For those of you unfamiliar with the process, by signing over your claim benefits you are now on the outside looking in as all decisions and reimbursements will be going to the third party. You are no longer in control of your insurance benefits or reimbursements. In Florida, you do have a 14-day rescission period in which to cancel that agreement, but it is best to seek the advice of an attorney or your insurance broker before signing anything. Some people will automatically engage the services of a public adjuster to fight their battles. I look at this as more the last option than my first. Public adjusters on average will make ten percent of the total claim. If the insurance company doesn’t reimburse you enough to cover their “commission” you are on the hook. If you have a deductible of $5,000-10,000 and you have $60,000-100,000 in damages, and the insurance company is only looking to cover the cost for damages and nothing more, you could be out of pocket another $6,000-10,000 on top of your deductible. Another thing to consider is the contract you are signing with a roofer. Are you bound to them regardless of whether they get enough money to complete your roof repair or replacement, or are you responsible to make up the difference? Questions you need to ask aside from getting a quote and an estimated time of completion to complete the job are 1. Is there a cancellation period in the contract should I decide to terminate this agreement? 2. Am I bound to you if the insurance company is unwilling to agree to your estimate?
While I’ve been sharing my experience with a roofer and an insurance company that seems more concerned with their interests than helping us through this time, there is a reason many of you may be experiencing what we are. Ask any insurance broker how many questionable claims for new roofs were submitted years after Hurricane Irma impacted Florida. They’ve shared with us the weather-related causes we just didn’t experience, but that it was cheaper to pay the claim than battle in court. As a result, insurance companies are now insuring roofs for less time than the projected lifespan from the manufacturer. On average, an insurance company will insure a shingle roof for 10-15 years, a tile roof for 20-25 years, and a metal roof for 25-30 years before requiring you to replace it to continue coverage. The question becomes, “Is the insurance company looking to “repair” when you need a replacement, knowing in a few short years you’ll need to incur the cost of replacement yourself?” The important thing to keep in mind is to get several estimates from respectable contractors who have good reviews and standing with the Better Business Bureau. For those living in the general area, you can always reach out to the Charlotte Desoto Building Industry Association otherwise known as the CDBIA. They are comprised of local contractors, lenders, and related trades and services that can give you guidance and resources when needed. While none of us want to wait for a prolonged period to get our homes put back together, don’t feel pressured to sign a contract until you’ve thoroughly researched the company and the contract. Our understanding is you have up to a year to file a claim, but check with your insurance broker to verify the details of your policy.
I always thought of myself as a real summer kid. Growing up in New York I was willing to sacrifice all the other months just to get to the summer season that started with Memorial Day and ended on Labor Day. That’s when I felt the most alive, and it was almost like watching life through a black and white t.v. that just transitioned to color. While my father claimed his favorite time of year was the fall, he would often say, “If you took out January, February, and March you would have perfect weather.” With a puzzled look on my face, I would reply, “You just cut out a quarter of the year like it was nothing.” Then I thought to myself, “I was willing to give up three quarters of the year just to get to my favorite 3 months.” I had to ask myself, “Which of the two of us was really nuts?”
Don’t get me wrong, we had lots of great activities and music that occurred throughout the year, but the fun we had, and the music that played throughout the summer was something very special. I bet my “championship” music trivia teammates, Greg and Toni White would agree “The Twist” by Chubby Checker, “Summer In the City” by The Lovin Spoonful, and the Beach Boys, “California Girls” never sounded better than in the summer months. I’ll even add Sly and The Family Stone’s “Hot Fun in the Summer Time” and what kid wouldn’t feel his summer was just starting when listening to Alice Cooper’s “Schools Out?” It didn’t matter the era you grew up in, the music never sounded better than it did in the summer, especially if the windows in your car were rolled down or you were driving in a convertible on your way to the beach!
When I was young the summer seemed to last a lot longer than it does now. Maybe it was our carefree attitudes where we crammed lots of activities into one day. We swam, water skied, and had endless games of Frisbee and flashlight tag, and those beach parties were second to none. Perhaps it’s me, but did this summer seem to be missing a month? Friends of mine up north are already dreading the end of summer. Stores have already put out their fall and early winter merchandise, and soon they will be experiencing “Tumbleweed Tuesday,” which is the day after Labor Day when it seems like summer came to a sudden stop and the merchants are desperately looking for those last customers seeking to stretch their summer vacation out a few more days. While my northern friends are starting to mourn the passing of summer, those of us living here feel like our summer with its fun activities is soon to get started. Think about it.
When we were under travel restrictions from Covid, many flocked to Florida in an attempt to move to a more desirable climate and lifestyle. Instead of people returning north for the summer they remained here with us. We may have social distanced, but we got creative and put together impromptu potluck dinners on our streets, and figured out how to enjoy each other’s company….from a distance of course. It was as if summer gained a few extra months. Then as life returned to normal many of our friends and neighbors resumed their trek north for the summer where the season was just kicking off, and we settled into the more quiet days of summer, which wasn’t such a bad alternative considering all our area has to offer. With boating, beaches, golf, tennis, pickleball, entertainment venues, waterfront shops, and restaurants why would anyone want to leave? Isn’t this what people are going north to enjoy and from what I hear, it was just as hot up there this summer! With even more activities planned by our local Chambers of Commerce, Country Clubs, and Charitable Organizations in the upcoming months, it seems like our summer may just be going into its second phase as there are a host of activities and events I’m looking forward to enjoying.
As for those who are returning now that summer is in their rearview mirror, I’m sure my music trivia teammates Greg and Toni could put together a playlist for you that would include “See you in September.” The great news is our summer is not over, and as a kid at heart who loves the excitement of summer, I couldn’t be happier.
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.