How to Support Hurricane Ian Relief Efforts
Short term the value of homes and land within the primary impact zone are likely to drop because people cannot live there, insurance settlements will take weeks if not months, and rebuilding may take years. Long-term the primary impact zone should recover and exceed prior values as new development replaces the old product making it even more desirable. Just beyond the primary impact zone, the number of people who leave and do not return is minimal even though they may have damage. To the outside public, these “fringe” areas are thought to be major disaster areas because that is what they see on TV and Social Media, but actual damage is sporadic in fringe areas.
Ian caused a flood surge in Naples that resulted in significant damage on the waterfront, yet just beyond the waterfront (literally a couple hundred yards), there is no wind damage or water damage. Restaurants are open. Life is normal. Waterfront homes will have a short term value impact, but beyond that no impact at all. The same holds true for areas like Punta Gorda, Port Charlotte, Englewood, Venice and more. Yes there are trees down, shingles lost and other damage, but life was back to near normal within days. Residents in these fringe areas (just beyond the primary impact zone), but still within the areas damaged, typically repair or rebuild as quickly as possible. The value impact will be on a house by house basis, not an entire area.
