After Helene and Milton: A Practical Guide for Manatee & Sarasota Homeowners, Buyers and Sellers
The last three weeks have been some of the hardest our community has faced. On September 26, Hurricane Helene pushed storm surge up our coast. The National Weather Service in Tampa Bay recorded water about 6 feet above the average daily high-tide line at Port Manatee. Then on the night of October 9, Hurricane Milton came ashore right here. The National Hurricane Center reported landfall near Siesta Key in Sarasota County as a Category 3 hurricane with maximum sustained winds near 120 mph.
If you're cleaning up or staying with family, please take care of yourself first. When you're ready, here's a practical guide for homeowners, buyers, sellers and investors in Manatee and Sarasota counties.
First Steps for Homeowners
Document everything. Before you move debris or start repairs, take dated photos and video of every room, the roof, fences, pool cage and any water lines on walls. Keep receipts for tarps, fans, hotel stays and emergency repairs.
Report your claim promptly. Under Florida law (s. 627.70132, F.S.), notice of a new property insurance claim must be given within one year after the date of loss, and supplemental claims within 18 months. Don't wait that long if you don't have to. Earlier claims are easier to document.
Know your policy protections. After Helene, the Florida Office of Insurance Regulation issued an emergency order covering counties including Manatee and Sarasota. It extends grace periods and limits policy cancellations and nonrenewals from September 26 through November 26, 2024. If you get a notice that worries you, call your agent or insurer before you assume the worst.
Apply for federal help if you qualify. Both storms have major disaster declarations that include Individual Assistance for Manatee and Sarasota counties: DR-4828 for Helene, declared September 28, and DR-4834 for Milton, declared October 11. You can apply at DisasterAssistance.gov. Remember that flood damage is typically covered by flood insurance, not a standard homeowners policy.
The "50% Rule" Every Owner in a Flood Zone Should Know
If your home is in a special flood hazard area and took on water, ask your city or county building department about substantial damage. Under the National Flood Insurance Program rules, if the cost to repair a building equals or exceeds 50% of its market value, the building generally has to be brought into compliance with current floodplain requirements. That can mean elevating it. Local officials make that determination, so get permits and keep your repair estimates organized. This one issue can shape whether you repair, rebuild or sell.
If You're Buying Right Now
Re-inspect before closing. If you were under contract when either storm hit, don't skip a fresh look. Schedule a new walk-through and, where it makes sense, a roof, wind mitigation or general inspection. Water intrusion isn't always visible the first week.
Read your contract's damage provisions. Most Florida purchase contracts address what happens if a property is damaged before closing. Review your options with your agent, and with an attorney if needed, before deadlines run.
Line up insurance early. Insurers commonly pause new policies when a storm threatens. As carriers resume writing, give yourself extra time to get quotes and bind coverage, because your lender will require it before closing.
Rates are still friendlier than last year. The Federal Reserve cut its benchmark rate by half a percentage point on September 18, to 4.75%–5.00%. Freddie Mac's Primary Mortgage Market Survey showed the 30-year fixed at 6.08% on September 26, the lowest in two years. It ticked back up to 6.32% for the week of October 10. Rates move week to week, so a lender can help you decide when to lock.
If You're Selling
Disclose what you know. Florida sellers have a duty to disclose known facts that materially affect a home's value and aren't readily observable. That includes storm damage, water intrusion, insurance claims and repairs. Being upfront protects you and builds buyer confidence.
Keep a repair file. Permits, invoices, contractor licenses, photos and insurance correspondence all help a buyer's inspector and insurer get comfortable. A well-documented home is easier to sell.
Price with today's reality in mind. Buyers will be asking about elevation, flood zones, roof age and storm history more than ever. If your home came through both storms intact, highlight that with facts.
For Investors
Check on tenants first, then inspect every unit and document conditions. Review your landlord policy, loss-of-rents coverage and any flood policies. Before you buy storm-damaged property, get repair estimates and talk to the local building department about the substantial-damage rule. A discount that looks attractive can disappear if the building has to be elevated.
We'll Get Through This Together
This is my community too, and I know how exhausting these weeks have been. If you need help sorting out what storm damage means for a purchase, a sale or a rental property, or you just want a second set of eyes on a repair plan, I'm here. Call or text me at (941) 993-8311 or reach out through my contact page. I work with clients in English and Spanish.
Luis Odon, REALTOR® Keller Williams Coastal Living II (941) 993-8311
This article is general information only and is not legal, insurance or financial advice. Disaster-assistance rules, deadlines and insurance orders can change; confirm details with FEMA, your insurer and local officials. Equal Housing Opportunity.
