The Florida legislature completed their special session today and voted on a comprehensive insurance reform package aimed at lowering property insurance premiums for Florida homeowners. Increasing property insurance costs, as well as increased property taxes has weighed heavily on the pocketbooks of many SW Florida real estate homeowners and investors, making it less appealing to live in Florida.
Anything the government can do is a positive sign for the SW Florida real estate market and would help to improve things as the total cost of ownership has become prohibitive for many buyers in our market. When you increase cost of taxes and insurance, it puts a cap on what people can afford to pay in price for a home.
We’ll provide links to several sources. Many are happy, including Florida Governor Crist, and some groups are not. Feel free to post your comments as to how you feel about the governments performance in handling property insurance reform.
We just might read your comment on the air on our weekly radio show, so here’s your chance to voice your opinion.