There has been a change to Flood Insurance effective April 1, 2016.  Your flood insurance could go up as much as 25% per year IF your house is not a primary residence and was built before 08/17/1981 in Cape Coral or 11/15/1984 in Fort Myers.  If your house is built before these dates AND it is your primary residence, you can expect an 18% maximum increase.  BUT...


The second part of this is there is now a surcharge on your Flood insurance bill.  If it is NOT your primary residence then the surcharge is $225.00.  If it IS your primary residence then your surcharge should only be $25.00.  I am hearing about many homeowners with primary residences here being charged the wrong premium amount. And this surcharge is not considered part of your premium so, your bill could be higher than the 18% cap.


Also, if you are thinking of selling a property in Lee County, you may want to sell it BEFORE you have to renew your Flood insurance premium.  There will probably be a increase in homes being sold prior to the above dates once Flood insurance policies renew.  I have more details on this in case you need further clarification.


Now, to the market:  We had a small increase in the average sale price in Cape Coral for March.  We are now at $205,000.  This is good news since both January and February showed decreases in the average sale price.  We also, had a nice increase in the number of homes sold (413) in the Cape.  Let's hope this positive turn around continues.


Within the next 60 days, I will be putting another nice home on the market.  It is located in the NE Cape.  It is a high ceiling great room with 3/2/2 + den.  I will be listing it in the $190,000-$195,000 range.  If you are interested, please give me a call.  Attached is a front photo of the house.  Please call me, if you have any real estate questions.  I am here to help! 

Judy Ramage, ABR, CDPE, CRS

Broker Associate

Re/Max Realty Partners

3501 Del Prado Blvd S #110

Cape Coral, FL 33904

(239) 910-3443 direct



Oh, by the way, I am never too busy for your referrals.