Does a Hurricane affect property values

    Many people ask if Hurricane Irma affected the value of property In Palm Coast. This is not a simple question to answer. If there is damage to a home, yes it does. If not, short term if may slow the market, which slows the sales. As time passes, the market will pick up again. Since Hurricane Irma hit at the end of September, we were getting close to a customary market slow down because of the holiday season. If the slowdown is prolonged, it could affect the values, and home values could slowly go down.
    Another problem we are facing is the number of roofs that need repair. Homes that were already under contract may not close on time because of a bad roof, and this may not be noticed until the home inspection is completed. Then, it could take several months to replace the roof, which slows the market even more. Currently roofing companies are 2-3 months away from replacing a roof. A seasoned Realtor can arrange for the roof to be replaced later, and not affect the closing, but many Realtors may not have the knowledge of how to properly structure those details.
    If you have any questions about your home’s value, contact your REMAX Select Professionals sales professional for a complimentary market analysis of you home

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