Tag Archives: Florida

Florida Gulf Coast Property Values Dip But Not Due to Oil Spill

It’s good news, so-so news for Florida after the oil spill. Pres. Barack Obama swam in the sapphire blue waters off Panama City with his daughter, hoping the picture perfect scene would reassure tourists. The Pensacola News Journal reports that property values in the Gulf Coast county have dipped, but not due the spill.

Appraisers crunched their numbers before the April 20 BP oil spill began. Escambia County’s total… Continue reading

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Fannie Mae’s Sweet and Sour News

Every silver lining in the mortgage industry is linked to a big, fat, dark cloud. Fannie Mae just reported that its rate of serious delinquencies for single-family homes dropped to 5.15% in June. Fannie Mae’s total business was more than $3.21 trillion at the end of June. Now for that leaden cloud; 75% of the nation’s biggest metropolitan posted year-over-year increases in foreclosure activity, according to Mortgage Orb. Florida, California… Continue reading

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Claims Czar Lays Out Some Ground Rules for Homeowners (& Appraisers)

As everyone who lives and works on the Gulf Coast probably knows, Kenneth Feinberg is the man the White House appointed to oversee claims paid by BP from its $20 billion escrow fund for oil spill damages. On Friday, he told a standing room only crowd in Destin, Florida, that the eligibility of claims for loss in property values would be far more difficult to decide, far more subjective than… Continue reading

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Executive Order Lets Florida Appraisers Perform Oil Spill Assessments

Florida Governor Charlie Crist signed an executive order that allows property appraisers to perform “interim assessments” in the 26 Florida counties affected by the BP oil spill. Homeowners and business owners can use the appraisals as documentation when submitting claims to BP for lost property values.

Legal experts are debating whether homeowners claims of loss in property values will be valid if BP forces the claims into a courtroom… Continue reading

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Who Deserves the Most $$ in Oil Damages?

Floridian Jeff Shows of Sherrill Appraisal forwarded this story to us. Gov. Charles Crist is arguing that Florida deserves more money for BP oil damage because Florida is the one Gulf Coast state to forbid offshore drilling. The other states allowed oil rigs to drill despite the risk. Now, oil from a Louisiana rig has severely damaged Florida’s top industry, tourism. According to the Associated Press, some companies had leases… Continue reading

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Who is BP Paying Now in the Gulf Coast?

The BP oil spill will cost Florida a minimum of $2.2 billion and 39,000 jobs, according to University of Central Florida economist Steve Snaith, the go-to guy for oil spill impact forecasts in the Sunshine State. Meanwhile, residents along the Gulf Coast are wondering why their towns have not been reimbursed by BP for cleanup and efforts made to protect homes and property from tarballs, tar patties, oil mousse and… Continue reading

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