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Waterfront Homes for Sale In Tampa Bay Could See Large Price Drops

Last week I published a news article on Florida’s Flood insurance crisis.  Basically, FEMA has redrawn flood zones, meaning properties that were once not considered at risk could now be part of a flood plain. This is just part of the story.  New premium rates for those who where being subsidized by the federal government will cause rates to rise dramatically.

With rising rates for flood insurance looming in the near future, waterfront and beachfront homeowners have already started reducing their prices to sell their properties quickly, which could mean that buyers are in a prime position to make deals with sellers who may not be able to afford higher flood insurance costs.

Here’s a list of Waterfront Homes For Sale in the Tampa, St. Pete and Clearwater Beach areas with the highest price reductions since they’ve been listed for sale.

This European inspired waterfront estate located on Belleair Beach is just one of them, and has already dropped in price over 2 million dollars since it was listed over 500 days ago.  The last price reduction was in April of this year, prior to the news of the price increases for flood insurance.

We're sorry, but we couldn't find MLS # U7546474 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

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Written by Rae Catanese, Realtor

Licensed Realtor since 2002, Tampa Bay’s own Rae Catanese regularly gives expert advice and insider tips about the Tampa Bay real estate market via her blog, The Tampa Real Estate Insider. If you are thinking of buying or selling a home in the Tampa, St. Petersburg or Clearwater areas-then this blog is for you. I typically post articles once a week. To make sure you don’t miss my newest posts, you can subscribe here! Have a real estate question? Email me here!

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