Construction & Closing Delays – Hurricane Irma Spared Real Estate Market

Hurricane Irma’s effect on South Florida’s vibrant real estate market is not likely to be much more than the hassles of delayed home deliveries and closings, industry observers say. Twelve years ago, Hurricane Wilma swept across Broward, Palm Beach, and Miami-Dade counties, causing major damage to roofs. Blue tarps became a common sight in many neighborhoods hammered by Wilma’s winds. But Irma’s glancing blow resulted mostly in uprooted trees, debris in the streets and minor damage to screened-patio enclosures, said Jim Flood, regional manager for Supreme Lending in Fort Lauderdale. Homes that were in the sales pipeline to close when Irma hit will have to be reinspected, and that can’t happen until the homes have power again…Read More > >

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