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Stephen Vincelli | Coastal Properties Group Blog

Tuesday, March 31, 2020   /   by Stephen Vincelli

Flood Insurance Renewal Period Extended

FEMA Extends Grace Period for Flood Insurance Renewal

Homeowners with a flood insurance renewal date between Feb. 13 and June 15, 2020, have a 120-day grace period to do so. The usual grace period is only 30 days.

With many homeowners facing financial issues during the pandemic, FEMA announced that it would help serve its National Flood Insurance Program (NFIP) customers by extending their grace period to renew flood insurance policies from 30 to 120 days.
The extension applies to NFIP flood insurance policies with an expiration date between February 13 and June 15, 2020.
There is typically a 30-day grace period to renew policies to avoid a lapse in coverage, but due to the economic challenges caused by COVID-19, FEMA said it recognizes that flood insurance policyholders may need more time.
“FEMA understands the sense of urgency related to financial hardships and wants to be proactive,” says David Maurstad, deputy associate administrator of FEMA’s ...

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  fema, flood insurance

Monday, March 30, 2020   /   by Stephen Vincelli

Breaking News Governor Suspends New Vacation Rentals


In an effort to discourage visitors to the state who may be carrying the coronavirus, Gov. Ron DeSantis announced Friday a two-week suspension of new vacation rentals (30 days or 1 calendar month, whichever is less). The order does not apply to current occupants of vacation rentals.

Click here to read the full executive order

For more information or questions please call Stephen Vincelli 727-430-1995 with The Tom Smith Team Coastal Properties International.

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  breaking news, pinellas, pinellas county real estate, vacation rentals, governor suspends

Sunday, March 29, 2020   /   by Stephen Vincelli

Fact Sheet: Why Should I Buy Flood Insurance?

Flooding is the nation’s costliest and most common disaster, but many property owners outside high-risk FEMA flood zones don’t think it will ever be a problem

On Sept. 19, tropical storm Imelda hit Texas, and even though it was a full hurricane-force storm, Texans – homeowners, business owners and renters – filed 10,600 flood insurance claims. As of Oct. 29, policyholders have been paid 40% of claims or more than $280 million to repair their homes.
Flooding is the nation’s costliest and most common disaster, but property owners who live in communities participating in the National Flood Insurance Program can purchase affordable protection to insure against flood losses.
Why do I need flood insurance?

Policies issued by NFIP pay regardless of whether there is a Presidential Disaster Declaration in place.

The average flood insurance claim for Tropical Storm Imelda was over $54,000 and does not have to be repaid.

Standard homeo ...

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Thursday, March 26, 2020   /   by Stephen Vincelli

Pinellas County Real Estate Stats for February 2020

Pinellas County Real Estate Statistics for February 2020

For an in depth analysis of your home or the local market please call the Tom Smith Team at 727-686-1596 today.
The Tom Smith Team  meet the team video

The Median Sale Price and Dollar Volume for Single Family Homes saw an increase year-over-year in Pinellas County for February 2020. The Median Sale Price for Single Family Homes was up by 5.7% from last year at $265,000 for February 2019 to $280,000 for February 2020. Dollar Volume for Single Family Homes saw a 3.1% increase from $331.8 million in February 2019 to $342.2 million in 2020. The Average Sale Price for Single Family Homes decreased 0.2% from $362,988 in February 2019 to $362,088 in February 2020. The Median Time to Contract for Single Family Homes was down 38.8% from 49 days in February 2019 to 30 days this February. The Median Time to Sale for Single Family Homes was down 21.8% from 87 days last February to 68 days this February. The Months Supply o ...

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  realestatestats, pinellas, homesales

Thursday, March 26, 2020   /   by Stephen Vincelli

Breaking News Sales and Property Tax Extended FL



Today, Department of Revenue Executive Director Jim Zingale issued two emergency orders: Emergency order #20-52-DOR-001 to extend the final due date for property tax payments and Emergency order #20-52-DOR-002 to extend certain filing deadlines for Florida businesses. This action is taken to provide short-term relief to taxpayers while recognizing the requirement for a balanced state budget.

For taxpayers who have additional questions, the Department of Revenue has established a dedicated team to address tax-related issues pertaining to COVID-19 and created an email address, COVID19TAXHELP@floridarevenue.com. Visit the Department’s webpage for COVID-19 updates. For more information or to sign up for email updates from the Department of Revenue, visit floridarevenue.com.

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  property tax, breaking news, extend property tax

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Tom Smith Team
423 Mandalay Ave Ste 102
Clearwater, FL 33767

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