While the frightening news of massive hurricanes pummeling the southern coast of Florida may seem discouraging for investors, the rebuilding efforts of the Sunshine State have only improved with each passing storm. The devastation of the victims cannot be ignored; this may make it seem counter-intuitive to explore how it could benefit residents when investors choose to purchase Florida properties.
Press Release – updated: Sep 26, 2017 02:00 EDT
DANIA BEACH, Fla., September 26, 2017 (PRESS RELEASE JET) – While the frightening news of massive hurricanes pummeling the southern coast of Florida may seem discouraging for investors, the rebuilding efforts of the Sunshine State have only improved with each passing storm. The devastation of the victims cannot be ignored; this may make it seem counter-intuitive to explore how it could benefit residents when investors choose to purchase properties in Florida.
Following the enormous residential destruction of Hurricane Andrew in 1992, South Florida adjusted building codes to bolster new developments against future storms. Now is a mutually beneficial time to invest in Florida properties after Irma.
The relief effort in Florida has increased in capability and speed. Residents assessing the current damage have noticed the impact of new building designs following Hurricane Andrew (which were reinforced in design following Hurricane Wilma).
The Miami Herald recently interviewed residents affected by the storm who reported many older homes built before the new construction codes were destroyed while newer homes overall appeared to have weathered the hurricane with less damage.
Though it may seem people are less likely to want to live in Florida following a massive hurricane, time has demonstrated more people move into Florida than out. Approximately one-third of current Florida residents are native to the state and the patterns of moving in and out of hurricane-prone regions have had not made long-lasting adjustments. These areas appear to attract the same high number of new residents prior to the passing of a major hurricane.
During the immediate three months following Hurricane Andrew, home prices in popular cities such as Miami and Fort Lauderdale increased. The reconstruction efforts which decreased the unemployment rate increased the existing home sales to 31% from the third quarter and 14.1 percent over the course of the year. Although the market experienced decreases during the recession, Florida remains among the most resilient housing markets in the country.
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Following the devastating wake of Hurricane Wilma, job markets strengthened due to the reconstruction effort. This could be a mutually beneficial time to invest in Florida properties after Irma.
As of 12 Sept. 2017, the New York Times reported Governor Rick Scott noted the state of Florida is shifting its full attention to recovery and rebuilding efforts in tandem with bringing water and food and fuel access to those in need. If the aftermath of previous hurricanes in Florida is any indication, this time of reconstruction may provide better-built homes and increase the price appreciation.
Although Hurricane Irma swept through much of Florida, the areas which endured the greatest impact, according to Slate.com, include Naples, Marco Island, Miami, St. Augustine, Jacksonville, and the Florida Keys. Several other cities to include Orlando experienced minor damage at the lashing out of Hurricane Irma. There were a number of cities in Florida which weathered the storm with surprising success. The eye of the hurricane passed right over Tampa where it was expected to deliver a threatening blow; instead, the city experienced minor damages.
Part of the relief effort will include reinforcing and constructing new homes – It’s time to invest in Florida properties after Irma.
After a disaster like this one, many families are left without homes to go back to. Filing an insurance claim can take months and be an exhaustive process. Families need reliable homes to purchase or rent while they rebuild.
Help families make the best of their insurance checks from Irma.
After receiving the checks from their insurance companies, families who suffered at the hands of Irma will be looking for properties in Florida. They often are looking for properties that will replace the property they had before, making the need for high-end rentals or renovated homes inflated after a disaster.
Families are counting on the insurance checks from Irma to keep them afloat and help them rebuild. By investing in Florida properties, you can help be part of the solution for those who lost homes in hurricane Irma.
Real Pro can help you invest in Florida properties after hurricane Irma.
Real Pro is an Investment Real Estate firm located in Dania Beach, FL specializing in residential investment properties. Real Pro focuses on empowering first-time investors to build their portfolios or plan for retirement with the passive income received through renting real estate in prime locations of the housing market’s most sought-after state. Register today for new Florida investment properties available at
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Source: Real Pro
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