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Insurance premiums seem to be the biggest factor in buyers' concerns. In some cases they are looking at premiums higher than their mortgage payments!
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Kathleen Luiten
Princeville, HI
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Yes, I've been hearing that it's the insurance premiums + the fact that some may need to jack up their homes.
Not sure about solutions though.
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I'm sure people are still intimidated and will be for a while. Price is always the first line in selling.
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As Paula Clifford points out, it may not be the hurricanes that scare people but the insurance premiums. I think anyone with waterfront property on the east coast is aware of the potential for devastating storms, but the cost of insuraning properties can be surprisingly high. I think photos and having people spend time in the area is all the marketing you need - living on or near the water is an experience worth the risk, in my opinion.
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Susan, boy can I help with this answer from the prospective of a REALTOR on the Mississippi Gulf Coast. August will mark our 10 year anniversary of Hurricane Katrina. Yes, absolutely, we are STILL feeling the affects. Insurance rates are outrageous, we have had the mold issue and of course the defective drywall issues. Along the beach, aka Highway 90 we are finally seeing commercial properties going . Very few of the mansions are being rebuilt unless the owners can self insure. And. . . . above all else people do not want to re-experience the aftermath. Good luck my friend, I can camiserate with you.