North Beach Miami tragedy

[miktay]

Firstly, I pray and hope for a minimal number of deaths and injuries to everybody in this building.
Secondly, (and much less important) it will be interesting as an appraiser to see what happens to property values in this market in the coming months.

 

[bnmappraisal]

Good to see you on here again, my friend. Sorry under these circumstances
Yes, very sad situation, but I agree (and as you said, "much less important") what happens in the aftermath of all of this
It definitely seems it will have an impact statewide. I don't see how it wouldn't/couldn't

 

[DTB]

Another reason why the Mrs. and I do not want a condo.

 

[glenn walker]

FlGood to see you on here again, my friend. Sorry under these circumstances

Yes, very sad situation, but I agree (and as you said, "much less important") what happens in the aftermath of all of this
It definitely seems it will have an impact statewide. I don't see how it wouldn'to/couldn't

Floridians will be fine most people care about an -issue like this for a few weeks and then another new crisis will hit . Today every week is stocked with bad news and next week over 4th of July they will all be down at the Beaches partying like it was 1999. The only concern I would have is if I owned a condo I can imagine a lot of Insurers are going to be jacking fees and some may end up down the road with high and unsustainable HOA Fees.

 

[bnmappraisal]

I generally agree with you Glenn. I agree the beaches will be packed this coming holiday weekend (the 4th), just as they have been during the majority of the pandemic. Not much slows down beach goers here in FL. I do wonder how insurers are going to react in the aftermath of this. We already have insurance issues just recently regarding Residential properties. The Governor just signed a new bill. I don't remember the specifics, but it was aimed toward insurance fraud and (if I remember right) a BIG issue was regarding roofs.
So I can see this condo situation being a big concern, especially regarding insurance, which can have an affect on the market(ability) in general

 

[glenn walker]

I generally agree with you Glenn. I agree the beaches will be packed this coming holiday weekend (the 4th), just as they have been during the majority of the pandemic. Not much slows down beach goers here in FL. I do wonder how insurers are going to react in the aftermath of this. We already have insurance issues just recently regarding Residential properties. The Governor just signed a new bill. I don't remember the specifics, but it was aimed toward insurance fraud and (if I remember right) a BIG issue was regarding roofs.
So I can see this condo situation being a big concern, especially regarding insurance, which can have an affect on the market(ability) in general

Yes it may have a large Impact on Condo and High Rises Sales and even impact refinances. I can't imiagine how many developments will be taken off HUDs Approved condo lists. We all know Insurers love to take advantage of a crisis and if they can they will raise premiums and not re-new some policies. The attorneys will all be chomping at the bit to file Construction Defect Lawsuits. The positive is maybe it will cool down that market and stop the non-sense of people having to waive home inspections. I also would imagine Civil Engineers will be super busy over the next few years too- but imagine their E & O renewal fees.