Not that this is likely to be the final post about flood insurance and how it affects values of properties on Anna Maria Island (and lots of other places nationwide), but this article from the Florida Association of Realtors is the best wrap-up I have seen.
Get beyond the self-congratulatory part where Realtors are so happy for one another and read the nuts and bolts.
Read it here.
It’s been a busy news cycle for folks interested in Anna Maria Island. Today, I’m posting both flood insurance and rental limitation updates.
First, the State of Florida is still tweaking legislation that would allow private insurers to offer flood insurance, at what they believe would be lower rates than those offered by the National Flood Insurance Program through insurance agencies. Naturally, time will be required to see if A) the legislation passes, and B) if it passes, will it work!
Here’s the Flood Story.
As you’re probably aware, limitation of vacation rentals has been a big item for both owners of homes or condos near so-called, ‘noisy, rude, trash and traffic generating party houses,’ and the owners of the ‘party houses’ who feel that their rights will be violated if they are not allowed to rent them.
This is particularly true of Holmes Beach and Anna Maria, with different backgrounds, but similar current desires. In Holmes Beach, a zone was created (R2) for properties to be rented for as short a time as one week; all other zones are to be rented for one month or more. That came to pass in 2007. In Anna Maria, there have never been any limitations passed by the city commission; one may rent by the hour (theoretically). Bradenton Beach allows rentals of ‘whatever length,’ and does not seem bothered by any of the turmoil generated by short-term renters in the other two cities.
At this time, it appears that the two houses of the Florida Legislature, which don’t agree on much, have two versions of a bill which it is believed will limit the limitation of short-term rentals to one week.
.What is it ‘they’ say? Half a loaf is better than no loaf. Looks like compromise at work here. Read the story.
My good friend, Judy Ward, lives right next to a big vacation rental property. She bought before the rental was built, and it causes her to lose sleep in several ways, not least due to noise.
My boss, Larry Chatt, runs a company that has many, many vacation rentals. And he fears that if the Florida Legislature gives local communities too much control over rental restrictions, particularly regarding vacation rental time frames, that many, many owners will be adversely affected, as will the booming economy of Anna Maria Island.
Here’s Zac Anderson’s story in the Sarasota Herald-Tribune, which does a good job presenting the issue. He lays it out for both sides.
Check it out here: Vacation Rental Issue Heats Up
Flood insurance will become more affordable, and still not as much of a liability to the taxpayers of America, according to an article in the Sarasota Herald-Tribune today. Both House and Senate have passed legislation ‘fixing’ the problem.
This is certain to have a salutary effect on sales here on Anna Maria Island.
Now the President must sign the bill before it becomes law.
Here’s the long story: Fixing Flood Insurance
Here’s a look at some interesting data from the Housing Pulse survey, in which I participate. It breaks Florida away from the rest of the country, but does show regional influences.
Click here: Housing Pulse January, 2014 Results
Here is my blog. It’s also my website. It’s all about Anna Maria Island. How I work it. How I see it. How I hear, feel and taste it. And I hope you will get a taste of it, too, because this is how I live it.
I will be posting from time to time, about real estate, other business, family, friends and activities on the island. Maybe also some information about nearby attractions and points of interest.
Most of all, I hope it’s interactive. There’s too much “I” above. There should be a lot more “You.” So tell me how this works for you.
John van Zandt