Episode 81

081 How is flood insurance changing?

In this episode Shelley explains FEMA's new flood insurance pricing system called Risk Rating 2.0: Equity in Action which took effect in October 2021. This may have significant effects on current flood insurance rates.

In the news interest rates and home prices are up and new listings are down, Shelley tells us about downside of overpricing your listing, and Ed has great news for people wanting to retire in Florida.

The Local Flavor features Skillets where Ed fell in love with their corned beef hash and freshly baked sour dough rye bread.

Links in this episode:

  • FEMA Risk Rating 2.0 - https://www.fema.gov/flood-insurance/risk-rating
  • Skillets Restaurant - https://www.skilletsrestaurants.com/

Need help with your real estate questions? Call or email Shelley for a no pressure conversation about real estate in the Sarasota area!

Transcript

Edward:

:

Welcome to selling Sarasota featuring Ed panas oh hi Shelley your your back.

Shelley:

:

Hi Ed yes I'm sitting right here.

Edward:

:

Oh well yes welcome back in hey everybody Shelly's here.

Sound Pad:

:

Welcome to selling Sarasota podcast

Sound Pad:

:

in every episode Shelley lays the smackdown on misinformation and delivers key insights into local real estate

Sound Pad:

:

grab your notepad sunscreen and flip-flops it's time to listen and learn how to successfully buy and sell homes in Sarasota Florida so you too can enjoy living in Paradise

Sound Pad:

:

here to show you how is published author speaker business trainer and your residential expert Shelley panas.

Shelley:

:

So this week before we get started on a jam-packed episode with you know talking about the new flood insurance policies and programs and market news and the local flavor let's talk about the last episode.

Edward:

:

Do we do we have to.

Shelley:

:

No I really do think we need.

Edward:

:

Really bad I didn't like it it got some downloads not as not as many as we normally do.

Shelley:

:

I don't know if it was really bad but you know there's nothing like tuning in to an episode where you know you weren't there I'll need to hear all sorts of interjections that I made.

Edward:

:

Okay well that part was fun for me.

Shelley:

:

I've got to admit I left a few.

Edward:

:

A few of our friends our friend Shawn yesner with yesner law he he picked me on Facebook and said hey just listen to your most recent episode what happened to Shelly.

Shelley:

:

Yeah the first couple it's like oh that it was timed like that could have been what I was saying and then you should not touch you know old recordings and snip out parts of my voice.

Edward:

:

Oh no that's that's the fun part for me but I was in the say the,

Edward:

:

my brains but oh if you're sick again just talking to record.

Shelley:

:

Okay.

Edward:

:

I hated that I hated every every minute of that so.

Shelley:

:

Well then we'll just put it in the past.

Edward:

:

I know we'll have to do that yeah see ya.

Shelley:

:

I didn't say that no I really didn't know.

Edward:

:

You you totally did you did yeah I think you like recording the podcast.

Sound Pad:

:

I don't know harassing you is kind of fun.

Shelley:

:

I didn't say that you are evil okay.

Edward:

:

Just having fun anyhow but yeah so by the way speaking of numbers,

Edward:

:

last couple months our numbers are up so thanks to everybody who's been listening thanks to our recent interview guests I know that whenever we interview folks other than just,

Edward:

:

I was talking it gives a little extra exposure to the show so thanks to everybody who.

Shelley:

:

Thanks for not holding against me when my husband got carried away with snipping out former.

Edward:

:

I know I could have got so much more carried away my favorite one was the one about Bree said termites about 15 times.

Shelley:

:

I know oh my gosh it makes me really aware now and I put a little.

Edward:

:

Well I cobbled that together so yeah.

Shelley:

:

Okay then I'll ship should we get started.

Edward:

:

We shall get started.

Shelley:

:

This week it's like what's up with flood insurance well it's the best I had at the moment,

Shelley:

:

so we've got new flood insurance that's taking place and really what is the risk rating 2.0 equity and action.

Edward:

:

That sounds completely made up.

Shelley:

:

Right doesn't it sound like someone was trying to name an action movie and a new flood insurance policies at the same time risk rating 2.0 equity in action,

Shelley:

:

I know like I said see Vin Diesel running around with like you know.

Edward:

:

Insurance policies.

Shelley:

:

Insurance policies exactly anyway on October 1st of this year FEMA that's the federal something something emergency.

Edward:

:

Emergency Management.

Shelley:

:

Association I don't know.

Edward:

:

Decision sure go with that.

Shelley:

:

Female we're all aware of it began facing in new flood insurance pricing system called risk rating 2.0 equity in action,

Shelley:

:

these these rate changes are scheduled to take effect for new flood insurance policies starting October 1st for existing policy renewals on April 1st,

Shelley:

:

so if you're getting a brand-new and it kicks in this year if you've already got a flood policy in place the next year next April.

Edward:

:

I realize it's exactly six months but really they're going to the government's going to start a new policy on April Fool's Day.

Shelley:

:

Someone didn't think.

Edward:

:

That kind of makes sense.

Shelley:

:

Yeah the Nar that's the National Association wow National Association of Realtors.

Edward:

:

Even been chugging cough syrup this morning.

Shelley:

:

No but I need some,

Shelley:

:

policy supports risk rating 2.0 equity in action I've gotta quit saying that we're just going to call it the new flood insurance which prices flood insurance for each home individually rather than by flood zone,

Shelley:

:

in the past they've gone through and in a whole neighborhood they go okay all of these get the same rating because they're all backed up to a river,

Shelley:

:

well except one house might be brand new built to all new code instructions and the other one might be 40 years old so in the past that was not taken into account with a new policy it's going to be,

Shelley:

:

FEMA has not updated its rating system in 50 years so I right.

Edward:

:

And nothing's really changed with the environment or that Trend that the increased building along coastlines that's.

Shelley:

:

Nothing nothing at all well,

Shelley:

:

yeah I think we get to it later so I won't I won't spoil my own news so by adopting Modern Insurance Technologies standard practice standards and practices FEMA will be able to rate more precisely and more accurately by using,

Shelley:

:

more flood risk factors and property specific characteristics including each buildings unique elevation distance to the water and cost to rebuild,

Shelley:

:

the new rating system will only,

Shelley:

:

nfip risk-based rates and will not change flood mapping or insurance requirements buyers may assume seller policies and in any increases not exceed 18 percent per year by law.

Edward:

:

So get all kinds of fun acronyms what's nfip.

Shelley:

:

National flood insurance policy so that's an easy acronym for once it made sense.

Edward:

:

That's simple that's that's an easy acronym how very uncover mental them.

Shelley:

:

I'm right I'm sure it's because it's been around awhile.

Edward:

:

In FEMA is Federal Emergency Management agency.

Shelley:

:

Yay I think we said Association but yes agency much better.

Edward:

:

Sure makes them sound more official.

Shelley:

:

So what is changing since the 1970s the nfip rates have relied predominantly on a property's location within a Zone on a relatively static flood insurance rate map,

Shelley:

:

with the new methodology FEMA now has access to Modern Insurance Technologies catastrophic models and data sets so it no longer requires flood zones or elevation certificates,

Shelley:

:

which again is really nice because when you're trying to get a home close and you've got to get somebody out there to get you an elevation certificate timing can be an issue,

Shelley:

:

the new methodology rates each individual home according to its specific or property specific rating factors such as,

Shelley:

:

again the elevation distance to water and cost to rebuild why current policies with low value homes are paying more than they should and policyholders with high value homes are paying less than they should,

Shelley:

:

these low value lower value homes have some of the highest rates and National flood insurance program,

Shelley:

:

under these new methodologies we will see an immediate decrease in insurance cost because it accounts for more risk factors and rates these homes individually,

Shelley:

:

unlike the current method when it property reaches its full risk rate increases stuff,

Shelley:

:

the new methodology is more Equitable Equitable and better meets the challenges for a changing climate,

Shelley:

:

under the old methodology the maximum for a single-family home was just shy of wait for it just shy of 46 thousand dollars annually,

Shelley:

:

for insurance.

Edward:

:

Flood insurance.

Shelley:

:

But think of some of those huge homes out on Siesta.

Edward:

:

I suppose yeah okay that makes sense.

Shelley:

:

And the new risk rating the maximum policy is just 12 Grand it's a much better pricing for homeowners obviously 73% decrease on the maximum and 23 percent of customers will see an immediate discrete decrease,

Shelley:

:

and most homeowners will say quite frankly pay what they do now so what does it mean for my nfip rate will it go up,

Shelley:

:

will it go down,

Shelley:

:

because each home is rated individually under the new system only a license insurance agent can tell you that I'm not going to be able to guess or you know Knee will the guy on the street,

Shelley:

:

I guess not that you'd walk up to some guy in the street and say well my flood insurance do but anyway.

Edward:

:

I kind of want to now.

Shelley:

:

I never right.

Edward:

:

And just a really put to really put the emphasis on I want to wear like short shorter pants they're actually flooded.

Shelley:

:

Okay and white socks.

Edward:

:

For people who were born after 1980 flooding was a slang term When people's pants were too short and it exposed their tube socks.

Shelley:

:

Nice.

Edward:

:

And tube socks are these white socks that used to be longer than your leg versus all these little hide and seek no seeum.

Shelley:

:

Oh hey and I was cool because I had some that had a red stripe on the top or ones that had blue stripe.

Edward:

:

Now did you ever have the ones with the little pom-poms on the back the little shorty socks work yeah.

Shelley:

:

I refuse to answer that on the grounds that it may embarrass me.

Edward:

:

Your product of your generation.

Shelley:

:

I totally am.

Edward:

:

So anyhow so.

Shelley:

:

So yeah just basically contact your insurance agent today to get a quote and also you of course you can go to the FEMA's Nationwide actually Actuarial analysis,

Shelley:

:

at and we'll put that on the show notes I'm not going to read the URL there what's not changing under the risk,

Shelley:

:

rating 2.0 equity and action rates rate increases will not exceed 18% a year that's in place now that will not change grandfathered rates,

Shelley:

:

including for newly mapped and pre firm subsidized homes will continue,

Shelley:

:

policyholders will still be able to transfer discounts to new owners by assigning their flood insurance policy to the new owner,

Shelley:

:

and floodplain management requirements will continue to be enforced by communities and lenders as usual.

Shelley:

:

The nice part is I think this is a really good change because again having a brand-new home right next to an older home that,

Shelley:

:

you know and be charged the same makes no sense to me and quite frankly when you look at flood,

Shelley:

:

insurance or I'm sorry flood categories you know X and no flood insurance ayyy,

Shelley:

:

well an AE here in Florida where we're at sea level and have the risk of hurricanes and lots of water damage would be the exact same policy that somebody I don't know,

Shelley:

:

and Cincinnati Ohio or Battle Creek Michigan might pay just because they live next to a river so to me it's like well those are two totally different,

Shelley:

:

scenarios now I'm not a FEMA expert I'm not a flood expert I'm not anything about that but to me it just didn't make sense.

Edward:

:

Well it kind of makes me wonder is to things that on the face of it seems like it makes a lot of sense but then it came from a government agency so it kind of makes me wonder.

Shelley:

:

Yeah what part were missing.

Edward:

:

I mean seriously because two things about this policy have me,

Edward:

:

concern but curious one I've never known the government to want to do something to improve the end outcome for the people that affects and they generally don't do things to purposely make it more affordable,

Edward:

:

and now now but since they basically it seems like so FEMA has the ratings they decide this the the risk of the homes and then the insurance companies just use that data,

Edward:

:

to then quote prices which is why you're saying talk to an agent.

Shelley:

:

Absolutely correct.

Edward:

:

Okay so I guess that makes sense because the money is not actually going to the government.

Shelley:

:

Right well in there's a whole part of.

Edward:

:

So the government really care.

Shelley:

:

I'm not talking about here because I just really need to do more I'm not an insurance expert and I need to do more research on it but there's also a thing where like Florida because we are,

Shelley:

:

like some states Texas North Carolina that are hit by a Louisiana are hit harder by Coastal flood problems,

Shelley:

:

there's a whole thing where money was going in and you'd go like for every dollar I remember this from the stuff I had been reading for every dollar of Florida,

Shelley:

:

flood insurance policy only 25% of that money would come back into the state so it's going like into this weird Kitty and being spent elsewhere,

Shelley:

:

now I'm just starting rumors because I didn't really grasp all of that yet so we met pop back.

Edward:

:

Okay yeah we made we may revisit flood insurance because it is big a big issue down here.

Shelley:

:

In quite frankly whether someone lives in a flood zone or not I recommend my customers at least talk to their insurance agent to see you know hey just for a little extra piece of mind what would it cost me to get a policy so we will revisit this later.

Edward:

:

And it's a very common question from customers.

Shelley:

:

Absolutely.

Sound Pad:

:

They market news with Shelly and.

Edward:

:

Alrighty so kicking out the news this week we've got the market snapshot the 30 30 year fixed rate mortgage averaged around 3.09 percent,

Edward:

:

according to free MAX weekly survey I think it's actually up a little bit more as the day of recording is creeped up a little bit more might be 3.14 something like that but so it's it's edging up a little bit folks but that's

Edward:

:

kind of to be expected by all the news coming out of the the FED right I mean,

Edward:

:

10 20 years ago if I could if I could buy a car and get a car loan for three percent I'd be over the moon,

Edward:

:

Florida's housing market reported higher median prices arise in all cash sales and constraint inventory levels in September compared to a year ago always seems like we're a little bit of a month behind but that's just it takes a while for all those stats to be compiled so,

Edward:

:

our sources always a month behind the state white medium Statewide median sales price for single-family existing homes in September was 355,000 up 18.3 percent from the previous year,

Edward:

:

last month Statewide median price for condo or townhouse units was 255,000 up 17.2% over September of 2020 and actually condos are seeing a lot of activity now.

Shelley:

:

Tons of activity here.

Edward:

:

As far as the housing Supply goes there's new listings and inventory or active listings remain restrictive over the last,

Edward:

:

several months really it's not just recently.

Shelley:

:

Discontinuing.

Edward:

:

New listings of single-family homes only increased by 2.2 percent year over year in September the lowest increase since February of 2021,

Edward:

:

new listings of condos and Townhomes meanwhile declined on a year-over-year basis for the first time since January down by seven point three percent,

Edward:

:

this slowdown in listing in new listings relative to the pace of sales has resulted in our levels inventory stalling out,

Edward:

:

single family homes stealing single-family existing homes continued at a very low one point three month supply,

Edward:

:

in September and the crazy part is I know a few months ago we were in Sarasota we were down to less than a.

Shelley:

:

We had like literally weeks of inventory in that was it.

Edward:

:

And Townhouse Condo inventory was down to one point seven months supplies so kind of the same stuff we've been saying all along with with some minor changes everybody wants to move to Florida,

Edward:

:

lots of people come in here people have been selling their homes but,

Edward:

:

sellers which we'll talk about here very shortly sellers are being lame vicious but their pricing so buyers aren't are kind of taking their time so it's interesting but yeah prices are up interest rates are creeping up still good time by home.

Shelley:

:

Let's move on the next one does tie right into that last conversation because the headline for the article was many overly confident sellers price their homes too high,

Shelley:

:

and again it was something we discussed earlier this year we anticipated coming now it's here,

Shelley:

:

this this article came out of Fort Lauderdale Florida that some home sellers are getting greedy in the scorching housing market and it's backfiring on them,

Shelley:

:

many are setting their prices too high trying to squeeze every dollar from a buyer who's willing to pay well over the asking price and often with cash a growing percentage of sellers quickly learn that they need to get real,

Shelley:

:

some 9.4% of homes on the market in August had reduced prices which was up from 8.6 percent in July,

Shelley:

:

that came from Zillow and online listing service in May and June prices price cut stood at seven point eight and seven point seven percent respectively,

Shelley:

:

indicating an over-eagerness has spread basically.

Shelley:

:

Of the price cuts are the result of sellers getting overconfident in this market and asking too much price cuts are not happening now for highs of houses that were priced fairly and show well,

Shelley:

:

on occasion price Cuts can work in a seller's favor because they will widen the pool of prospective buyers who might then be willing to bid for the private up the property to get it,

Shelley:

:

but widespread price Cuts can also be bad for the overall Market as they color as buyers to be wary of trying to buy and they just might back away,

Shelley:

:

when you make price reductions to get them back on the property they wonder what's wrong with it why doesn't anybody else want it and right now another thing I'm hearing is.

Shelley:

:

This one's been on the market for 16 days what's going on,

Shelley:

:

in 16 days quite frankly when most houses are selling in 4 or less and that's because they're take trying to take their time to get offers you know or give many people a chance 16 days seems like an overreach to think that's a short period of time but,

Shelley:

:

I'm hearing it from buyers anyway the increased number of price drop does not mean that the market is getting cheaper it just means the overpriced homes are being reduced to a healthier level,

Shelley:

:

almost 25% of the sellers put their home on the market just to see how much profit they can make according to one survey from realtor.com almost 30 percent said they were asking for what for more than what they themselves believe their house was worth,

Shelley:

:

so in other words I don't really plan on moving but a some soccer will give me this much money for it what the heck I'll take my money and run.

Edward:

:

And while that's not the best strategy its people are doing.

Shelley:

:

People are doing it that's exactly.

Edward:

:

And I can't I can't necessarily say I blame them.

Shelley:

:

Exactly so if a home in the article finished up with a homicidal in the market for more than two weeks with no significant maintenance issues that's usually a big indicator that a price is too high,

Shelley:

:

and again I'm seeing that a lot as I'm showing properties somebody will set their house priced at what the neighbor's house was there's hasn't been updated since 1977 the neighbor had a full gut job and renovation,

Shelley:

:

and they think they should get the same price for it that's not going to happen so trust your realtor your professional,

Shelley:

:

and price it right because I guarantee you if people will build the house up if they think it's worth it but if you're overpriced gets going to.

Edward:

:

Well and you've seen it time and time again you've had you've had a few sellers you've represented who wanted to price it right at the edge of the market and they have had a few people who've listened to you and said okay well price it to a fair price but but still you know maybe.

Shelley:

:

Market will push it where the market think it's going to be that's the funny part is,

Shelley:

:

right now you almost can't price a house too low because everyone's going to come and go 400 for this I'll give you a five,

Shelley:

:

and it's going to get it but if you price it at five people can go know I'm willing to update it when I think it's worth

Shelley:

:

but when you price it at the 5 will know now I expect you to put a new roof on and replace the water heater and suddenly now it becomes about you trying to take advantage as a seller

Shelley:

:

rather than the buyer going it's worth it to me.

Edward:

:

And there's also to a point you and I talked about negotiating quite a bit and negotiating isn't what everybody but most people think negotiation.

Shelley:

:

Not what you see in the movies.

Edward:

:

Imma be a hard hard case I'm a bee in my hold the line or my push really hard for what I want and it's all what I want and the problem with that is is okay say you go in and offer someone list their house 500 even those worth,

Edward:

:

if you get someone who wants to pay immediately the the buyer if they are aware as that article points out people,

Edward:

:

people are doing it intentionally and customers are aware because if we've talked about in past episodes recently where there's been buyers who've just kind of been taking a break from the market

Edward:

:

and a lot of them they're kind of their kind of pissed their kind of annoyed that and then so and you've seen it yourself or you've gone into a transaction where everybody involved in the transaction knows the props was overpriced from the beginning

Edward:

:

and then it just sets this tone for the entire transaction right.

Shelley:

:

Oh absolutely and it's more likely to fall apart if it's a deal that can be cancelled not all are,

Shelley:

:

then one where if it's the buyers idea to push the price then they have to account for their own decisions if the seller did it then they feel like they're being taken advantage of and just occurred to me as we were talking that,

Shelley:

:

right now are we some people are pricing their houses is like a year and a half ago when covid first,

Shelley:

:

became a thing and they didn't know that it didn't really pass through touch and the people that were going out and buying up all of the hand sanitizer and then trying to resell 299 bottle for $30,

Shelley:

:

they were price-gouging well quite frankly some people with homes are doing that to in buyers aren't going,

Shelley:

:

necessarily your home to command top dollar needs to be in top dollar shape otherwise you can get more than it's worth right now I mean you just can,

Shelley:

:

he just can't is the article stated you just can't be greedy about.

Edward:

:

Exactly and it's not always initially it mean some folks yeah flat-out being greedy,

Edward:

:

and some folks are just they think they think that's just the best Direction a I can get more for my house so why wouldn't I price it if,

Edward:

:

the houses in my neighborhood are selling for 500,000 by can I just price it for 500,000 it's like well you could price it for 450 475 and maybe you'll get 5:15 you might actually end up getting more like you pointed out,

Edward:

:

but also it's like it makes when then you

Edward:

:

just when you start the transaction off on a bad note when someone feels like they're overpaying for something man those buyers are going to nitpick every little thing when it comes to the inspection period and it could end up costing you more money in the long run and a lot more headaches.

Shelley:

:

Absolutely and there's a huge strategy involved you know a lot of times I'll hear that well everything in my neighborhood is sold for name any number it's like well yeah but you've got the smallest house by 500 square feet you know you can't price it at you yeah you don't have a pool.

Edward:

:

And your roof needs to be replaced.

Shelley:

:

It your kitchen hasn't been updated and it's like well the very fact that your house is 500 square foot smaller automatically means it's going to be priced less like no appraiser will give you the same amount because again,

Shelley:

:

there's differences.

Edward:

:

And as we talked about in past episodes there's improvements that raise the value of your home and then there's improvements that just make it more desirable to buy.

Shelley:

:

Make it easier to sell that's exactly right okay well what do you have.

Edward:

:

So well I've got some awesome news Sarasota is the number one best retirement Metro in the country.

Edward:

:

All right cool good help it so,

Edward:

:

you're making my throat hurt now okay so it may be getting more expensive to live but Southwest Florida remains at the top of the best places to retire in the country.

Shelley:

:

The whole.

Edward:

:

The whole country based on the latest research by US News and world report's the state's metros led the way and annual findings release this morning or whatever morning this article is written with the first floor for in this order Sarasota,

Edward:

:

Naples Daytona Beach and Melbourne so there you go sell.

Shelley:

:

And then number six was Tampa Bay so someone eat their way in there for number 5 but.

Edward:

:

Yes I'll just read them off real quick Sarasota's number one Naples is number two Daytona Beach number three Melbourne's number for Tampa Bay is number six Fort Myers is number seven,

Edward:

:

Port st.lucie is number eight Pensacola's never 10 Lakeland is 12 Ocala 16 Orlando's 18 now what's interesting about this if you really look at a little bit further,

Edward:

:

most most of the top floor two cities there all night on the Suncoast,

Edward:

:

basically from from Tampa Bay down to Naples its we live in Sarasota because this was our favorite part of Florida after visiting a few areas and we love all of Florida.

Shelley:

:

So what does that 11 out of the top 20 are Florida gotta tell you come on now.

Edward:

:

Kate of the top 10 so Sarasota in Naples residents both reply report a high sense of well-being in both cities guide skyed hmm let's try this all again.

Shelley:

:

Let's just take two.

Edward:

:

Sarasota and Naples residents both report a high sense of well-being and both cities scored High marks for desirability Sarasota edged out Naples for the number one spot largely due to Sarasota having more affordable housing than Naples,

Edward:

:

how expenses is freaking Naples because here it's sodas Sarasota's not,

Edward:

:

now that much cheaper anyhow despite Florida's dominance another state is rapidly rising and it's not the usual Rivals for retirees such as Arizona Texas and California California it's the Commonwealth of Pennsylvania scraping away at its Rust Belt labeling.

Shelley:

:

I was shocked that no offense to anybody from Pennsylvania might be listening to this but,

Shelley:

:

I hadn't heard a single thing in the news that Pennsylvania had people going there like I've heard a lot of people are moving to Texas Austin and particular lot of people going to Arizona a lot of people coming to Florida hadn't heard squat about Pennsylvania.

Edward:

:

The article doesn't get too much into Pennsylvania but nearly 3/4 of the Metro areas in the top 25 are located in Florida or Pennsylvania so it doesn't seem like an odd mix but think about this I know personally of at least five or six people,

Edward:

:

Explorations moved down here from the New York area or New England area and then move back up north because they want to be closer to family or you know Florida wasn't as,

Edward:

:

it's not as much fun initially the live here as it is to go on vacation which is true of just about anywhere you can think of but then you think about if you're in Pennsylvania you're right there so maybe Pennsylvania's got some advantages over New York and Jersey.

Shelley:

:

Taxes whatnot.

Edward:

:

And you're not too far from family I that'd be my guess it's hard to compete with the Sunshine State right it is,

Edward:

:

almost cost which which besides its retirees has become a destination for executives buying mansions.

Shelley:

:

Woo.

Edward:

:

So the biggest thing is.

Shelley:

:

It's our big thing.

Edward:

:

It's the biggest thing is no tax we have no state income tax,

Edward:

:

let's see here Naples is so that's why a lot of people moving to Florida is the main thing Naples interesting enough has the highest cost of living or actually the highest housing cost among the best 10 best places to retire,

Edward:

:

and then just kind of talking about the rapid growth here in 1990 the for I-75 Coastal counties of Collier Lee Charlotte and Sarasota so essentially the Gulf,

Edward:

:

I think I'll do anything call you is another accounting anyhow had a population of 876 thousand combined today it's nearly a million more twin point eight million people,

Edward:

:

thirty years that's huge growth so coronavirus obviously had an effect and long with the desire to get away from the tighter spaces of big-city metros to come to Green open spaces and sandy beaches,

Edward:

:

which makes sense Americans age 45 and older were surveyed and 23 percent of Americans who are at or near retirement say the pandemic has changed their preference for their where they would like to retire and the last little bit,

Edward:

:

it's interesting that really not a lot,

Edward:

:

from Texas Arizona or California those lists the top Tech Metro for Texas came in the form of number 50 in Austin consider that the considering that the best Arizona could do was a hundred and Sixteen with Tucson in California,

Edward:

:

118th at Santa Barbara.

Shelley:

:

Which is crazy especially for me like I didn't really ever think of people moving to California to retire in my mind it was mostly either Arizona or Florida everybody I know either was going Arizona or Florida so I was shocked that Arizona did not rate higher.

Edward:

:

Yeah and and the law folks leave California for Arizona to especially Northern California where can be quite cold,

Edward:

:

was interesting though is Arizona has several of the cities have low ratings on the air quality index which is,

Edward:

:

seniors my folks were looking when they chose Florida they were looking at places air quality was really important because my dad had some heart issues High housing prices,

Edward:

:

often make it difficult for people on budget verteron California high housing prices make it for anybody to live in.

Shelley:

:

Retire heck makes it hard for people just to live and work in California.

Edward:

:

Yeah it's ridiculous and just for for our host who's originally a michigander,

Edward:

:

the only Midwest Locale to ranking among the best 25 is number nine am Arbor Michigan home of the University of Michigan.

Shelley:

:

Go in her go Wolverines.

Edward:

:

And it's got a delightful downtown area.

Shelley:

:

There you go okay.

Edward:

:

So there you go so Florida Sarasota number one.

Shelley:

:

Number one and all I think we need a little.

Shelley:

:

So moving on Florida Builders investing heavily in new single-family construction to that I want to say duh we've got over fifteen hundred people a day moving to Florida I'm thinking maybe we need housing.

Edward:

:

They've been chomping at the bit to invest they just can't get supplies.

Shelley:

:

Right so building permit,

Shelley:

:

future growth and US contractors appear to be betting heavily on the Sunshine State a study of government numbers compiled by ominous panels compare 2021 building permits for the first half of the Year through June,

Shelley:

:

and compared them to building permits issued for the same time frame one year earlier,

Shelley:

:

of major US cities those with at least 1,000 building permits issued Ocala topped the list with 79% year-to-year increase,

Shelley:

:

that's stinking huge so either Ocala wasn't building before or they're going bank gangbusters now the Cape Coral Florida Metro,

Shelley:

:

herb sorry Keith Court of Fort Myers Metro came in second with a 77 percent increase and rounding out the top 10 Mark or Naples Marco Island ranked number 6 with a 65 percent jump,

Shelley:

:

Sarasota Bradenton let's hang in there we had a 62 percent increase so lots it feel honestly it feels like more nice where it would be if we could get supplies.

Edward:

:

These are just building permits so how would we know.

Shelley:

:

Yeah exactly overall Florida has more Metro areas like the increased building permit list with a single-family homes and other than any other state,

Shelley:

:

only one major Florida City even made the list Jacksonville at number 49 with a fifty three percent growth in building permits through June 21,

Shelley:

:

the rapid pace of Florida's new home build should continue though it depends on a bit on factors outside the industry's control,

Shelley:

:

while the cost of lumber has fallen to reasonable levels over the past few months other materials are still hard to get the National Association of home builders also points to A continuing labor shortage,

Shelley:

:

Florida is metros in the top 50 burp building permits you know we mentioned some of those Ocala Cape Coral Marcos you know number 9 with Northport Sarasota,

Shelley:

:

and on and on so there's quite a few different areas I'm not going to bore anybody very reading the whole list.

Edward:

:

It's funny because if you think the list of the top 50 building permits Jimmy and the top 50 best places to retire they're very similar.

Shelley:

:

Yeah exactly although here the village has eaten at number 46 so even The Villages has a lots and lots going on.

Edward:

:

I think the villages had their their huge boom over the last 20 years I mean they just well growing going all right well.

Shelley:

:

So there we have it time to move on.

Edward:

:

Time to move on.

Sound Pad:

:

Now it's time for the local flavor the best sips snacks and fun in town.

Edward:

:

Skillets Skillet no that's from that movie Juno right what's up home and sky.

Shelley:

:

Yeah skillet.

Edward:

:

Say that all the time for I don't know why.

Shelley:

:

For no reason whatsoever because I don't think I've watched that movie sincere it came out.

Edward:

:

Yeah I think I've seen like a couple times when it first came out but.

Shelley:

:

So what's up home skillet.

Edward:

:

Skillets well Skillets that's the we're featuring for the local flavor it's Jimmy Skillets has been around for a while and we just went to Skillets for the first time we won.

Shelley:

:

And it's fun to say yeah our friend Jennifer her husband was out of town so after church we all went to lunch and yum.

Edward:

:

Yeah we went to lunch with our buddy Jennifer and,

Edward:

:

it's over on State Route 64 here in Bradenton not too far from us and they've got locations all over the place but for right now I'm going to read what they say about themselves,

Edward:

:

on their website sure,

Edward:

:

your fact Checker now.

Shelley:

:

I think I am.

Edward:

:

Here the Skillets fact-checker was Skillets delicious fact-checked,

Edward:

:

all right since 1995 Skillets continues to provide guests with delicious food and friendly service and a clean environment and very inviting Pine accented,

Edward:

:

all right fact-checked we only use premium ingredients such as a a large eggs 2 AA or double-a it's like baseball league.

Shelley:

:

Double A like kind of like batteries.

Edward:

:

Yeah I'll see you in baseball okay large eggs thick-cut Smokehouse bacon unbleached,

Edward:

:

stone ground flowers whole milk buttermilk and top align deli meats are proprietary blend of ground / Brew whole bean Guatemalan copy Delights guests for for its smooth yet rich flavors okay you take it with all the food,

Edward:

:

Drew.

Shelley:

:

It was yummy.

Edward:

:

All right back checked the coffee the coffee was delicious fact-checked are fresh squeezed orange juice seasonal berries assorted fruits ripe avocados highlight our commitment to healthy dining.

Shelley:

:

I would say yes.

Edward:

:

I'm in agreement Skillet chefs prepare everything from scratch including freshly baked biscuits signature scons or scones depending on your.

Shelley:

:

Cute.

Edward:

:

Pancakes waffles Crepes and home big or crepes,

Edward:

:

it's not a controversy are and home-baked sourdough breads are for our roasted kosher certified corned beef produces a hash that is a guest favorite all true.

Shelley:

:

I was going to say you had that so you can speak to the hash.

Edward:

:

And I'm going to get into that in a minute.

Shelley:

:

Wait get into another batch of Skillets hash or just talking about it yes.

Edward:

:

I can't stop now we can go we can go right now we invite you to join us and taste the Skillets difference okay so all the baked goods were amazing.

Shelley:

:

Go back to things that they didn't mention the place was clean now you would want that in any restaurant but let's face it we've all been in ones that you're just grateful for the low lighting so you can't see all of the Dust on the light.

Edward:

:

Since since the pandemic aren't all the restaurants sanitized.

Shelley:

:

I would say all the restaurants are more spotless now than any other time but everything was clean the staff was friendly and helpful,

Shelley:

:

we did go on a Sunday right after what most people would be getting out of church time,

Shelley:

:

so there was a little bit of a line they were very polite and professional and handled it very quickly and got everybody in seated quickly so I give that really,

Shelley:

:

see it but my thumb's are both up right now.

Edward:

:

And their Breads and well I'll say I'll say toast because I had stop kicking me everybody she is kicking me under the table.

Shelley:

:

Well your feet are on my side.

Edward:

:

Now well I can't help it I got long legs and big feet okay.

Shelley:

:

Anyway let's go on with skillets.

Edward:

:

Okay okay take two but yeah so the sourdough breads,

Edward:

:

I think I don't know fall I think all but well let's just say all they can call on her ask me if I'm wrong but I think all their breads are,

Edward:

:

are based on sourdough like I had right toast with my breakfast and it was sourdough rye toast and it was phenomenal.

Shelley:

:

Yeah you kind of went into another dimension with it.

Edward:

:

Yeah I was very very happy but let's talk about what we eat so I'll go first because it's an emotional experience for me I had

Edward:

:

the corned beef hash Skillet well first of all if I go into a place called Skillets Just Like It by going to Johnny B's ribs that I'm going to order whatever is on the name of the place so get a skillet this skill it's amazing all Skillets are layered with skillet potatoes which,

Edward:

:

are ridiculously insanely good they're not just like normal cottage fries or hash browns they put in like cheese and stuff I couldn't find anywhere in the menu online but they talked about in detail on their menu and the restaurant the skillet potatoes,

Edward:

:

phenomenal so skillet potatoes topped the two double-a eggs your way in a choice of toasts con or biscuit their corn breathe is,

Edward:

:

again so amazing,

Edward:

:

I was you you've known me for a number of years and you knew me back in the furniture days and how I should like to travel and find all these little Boutique eat at places the last time I had corned beef,

Edward:

:

or rye bread this good I was at a place called The Porch Public House in Hayden Idaho which is just North of Coeur d'Alene Idaho and,

Edward:

:

east of Spokane Washington it's a little chain of pubs up there I can't remember all of them by remember the porch specifically because they made,

Edward:

:

the world's best reuben sandwich everything was made from scratch in house Skillets is better.

Shelley:

:

Has been say do we need to have a corned beef hash rye bread baked off with it between the two of them are.

Edward:

:

Well there's a couple thousand miles between him so.

Shelley:

:

One might be cold.

Edward:

:

Yeah it might affect the flavor and the quality of the food but I'm just saying that I love good rye bread I love a good reuben sandwich I'm tired of I love Florida but all the places who have the freaking sign on the window the say.

Shelley:

:

Best Reuben.

Edward:

:

Voted the best reuben sandwich not one so here's a challenge anybody who's listening to this podcast in the Sarasota Bradenton Area or somewhere on the Gulf Coast I'll travel to Tampa I'm truly looking for the best reuben sandwich in Florida.

Shelley:

:

Okay you've got your homework people start.

Edward:

:

So let's let's let's get some feedback here we'll throw that on social media too anyhow what did you have.

Shelley:

:

I did not cave to the peer pressure to succumb to something name Skillet just because it was in the name of the restaurant I am a free thinker,

Shelley:

:

so I got the chicken salad croissant because I hadn't had one in about a hundred and fourteen years it was phenomenal it,

Shelley:

:

yeah it was homemade from scratch chicken salad and it's ridiculous to say that,

Shelley:

:

I mean it's just chicken salad but you know some places cut the chicken way to big others you have to kind of dig and go oh yeah there's a piece but it was really,

Shelley:

:

really good I had it on the croissant I believe you could have gotten it on one of the other types of breads as well but it was yummy.

Edward:

:

Yeah it looked really good.

Shelley:

:

And I can't remember what Jennifer 8 but she said Yama a lot and wolfed everything down on her plate.

Edward:

:

We didn't everything down for a change we didn't talk a lot at that the meal.

Shelley:

:

No the food was so good we all just kind of shove it in.

Edward:

:

And I'm got a pound of coffee to go they're caught,

Edward:

:

really good so anyhow if you're looking to for an excellent meal they've got several locations around Naples there are Bonita Springs Fort Myers Venice South Sarasota and Bradenton there,

Edward:

:

everywhere their website is Skillets restaurant.com and it's so Skillet is just building you would expect is not like with the Z or anything weird like that.

Shelley:

:

I'm so sick of people spelling things substituting letters.

Edward:

:

So SK SK I ll ETS restaurants.com check them out,

Edward:

:

totally worth it and it will include some more information on the show notes address and like that.

Shelley:

:

There you go another episode in the bank.

Edward:

:

I am so happy you were back and and well okay I'm happy you're not I'm not I'm happy you're not sick anymore and in the last episode for anybody who made it past their didn't make it past 30 seconds you did not have.

Shelley:

:

No I just got a little bronchitis pneumonia going on and.

Edward:

:

And it's something you've dealt with before we used to live up in Michigan.

Shelley:

:

Yeah well in Michigan and Colorado both cold weather I experienced quite a bit this is we've been in Florida now over seven years and it's the first time I've gotten it,

Shelley:

:

and so for once I was smart and slept in and stayed in bed and was as lazy as I could possibly.

Edward:

:

Because someone kind of dragged your butt to Urgent Care against your will.

Shelley:

:

That's true you did well I did say hey let's go get a covid s just in case and then on the way home you just swung on into an urgent care and said and we're going to get this checked out.

Edward:

:

He absolutely yeah the.

Shelley:

:

Course I think when the doctor said I'm standing five feet away and I can hear your lungs wheezing from here that that's probably not a good sign but hey I'm much better now.

Edward:

:

Edu redheads you guys are so freaking tough and have such a tolerance to pain which explains why our marriage works out so well yeah.

Shelley:

:

Wound my goal is to be the knight from search of the Holy Grail it's just a flesh wound.

Edward:

:

You know he lost right lost his arms and legs.

Shelley:

:

Come back here I'll bite your ankles,

Shelley:

:

yes I guess I did know that anyway.

Edward:

:

Sure use use my one of my actually my favorite money python bet against me okay anyhow.

Shelley:

:

So I guess it's just time to say bye buddy.

Edward:

:

And see a bell I lost the after oh there it is sorry about that.

Sound Pad:

:

Listening to another riveting episode of selling Sarasota,

Sound Pad:

:

visit our website for all episodes updates and the most fun you'll have outside of a cult,

Sound Pad:

:

Sound Pad: now for the disclaimer jelly panas is a licensed realtor with Century 21 beggins Enterprises in Sarasota Florida opinions suggestions implications were ridiculous comments made on the show do not necessarily reflect those of a broker or Century 21 at large though they are fun group of folks so you just never know.

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About the Podcast

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Selling Sarasota

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About your hosts

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Shelley Panas

Living in Paradise! After running a successful company in Colorado Springs I decided that although mountains are beautiful, it was time for beaches. I relocated to Florida and joined the highly successful team at CENTURY 21 Beggins Enterprises -- the #1 C21 in Florida! I love it here! There is always something new to experience. At the end of the day, it is so nice to hop on my bike and head to the beach. The feel of sand squishing between my toes, listening to the waves crash on the shore while watching the sun paint the sky beautiful shades of gold, red and purple as it set is the perfect way to end my day. So I ask, why just come visit when you can stay?

I believe there is something profound in owning a home. This is your personal place to dream big dreams, relax in comfort, and be with the ones you love. I became a REALTOR® to help people have a better life.

We started our podcast in 2018 after Ed spent most of 2017 developing ideas for launching a podcast, only he didn't like any of the show topics he was testing. To test his audio gear he started "interviewing" me about my work in real estate. Needless to say, these test recording sessions became very silly very quickly and that's we realized we had our show. Ed brings his technical expertise in web development and digital marketing to complement my skills and experience in real estate to the show.
Profile picture for Edward Panas

Edward Panas

I have been a huge fan of podcasts since before they were even called "podcasts"! I remember listening to talk radio shows as far back when I was a kid through my college years. My frustration was always with getting a good signal or catching my favorite shows when they aired. When "Internet radio" shows started in the early 90's I used to listen to streaming shows from college & public radio stations, but connection speeds were limited. When podcasting started in 2004 I knew this was going to be a significant change in audio entertainment. As my weekly listening time increased over the years my interest in starting my own show grew as well.

I started kicking around the idea of starting a podcast shortly after moving to Florida in 2014, so in 2017 I joined Florida Podcaster Association in Tampa and learned how I could start my own show. As Shelley mentions in her bio, my ideas all sucked. (She says it much nicer than this.) I either lost interest very quickly or the ideas were just plain bad. She agreed to work with me testing out my new gear and audio production skills talking about her work in real estate. We were having so much fun doing these practice recordings we realized that this was our show. After a few months of learning about audio production and working out our content plan, we launched Selling Sarasota Podcast at PodFest Multimedia Expo on February 9th, 2018!