Realtors along gulf lose contracts, hope as spill halts recovery of fragile market

[highplainsdem]

Source: Palm Beach Post

Realtors along gulf lose contracts, hope as spill halts recovery of fragile market
By Kimberly Miller
Palm Beach Post Staff Writer
Updated: 11:02 p.m. Friday, June 25, 2010
Posted: 10:50 p.m. Friday, June 25, 2010


Panhandle Realtor Deborah Orr has lost four home sales since the Deepwater Horizon oil spill branded the Sunshine State with a tar-spattered scarlet letter. She's got the e-mails and canceled contracts to prove it.

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Throughout the Panhandle and south to Monroe County, withdrawn sales contracts, abandoned vacation rentals and diminished property values are driving an increase in real estate claims made to oil giant BP.

-snip-

But Orr, whose Unique Panhandle Properties is in Panama City Beach, knows one thing: She's out at least $48,000 in commissions because of the oil spill and BP hasn't paid up yet. Orr filed four claims for herself and her agents nearly a month ago.

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In Monroe County, which includes the Florida Keys, County Commissioner Mario DiGennaro complained during a Wednesday meeting in Tallahassee about the BP claims process, saying real estate sales are at a "standstill."

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Read more: http://www.palmbeachpost.com/money/real-estate/realtors-along-gulf-lose-contracts-hope-as-spill-770176.html

[cstanleytech]

1. I hope that BP pays for any lost commisions and or lost revenue

for rentals on the ocean. Sales though or loss of value for property they shouldn't have to pay though imo because frankly they will most likely recover most if not all their value.

[elehhhhna]

2. Cong. hasn't renewed flood insurance, so they can't close anyway --

whichh is true for any property near/on a flood plain.

Lazy Congress.

[SunnySong]

3. Thats nothing wait till we see the commercial defaults on hotels and resturants. nt

[truthisfreedom]

4. BP couldn't fix this problem with a trillion dollars.

imho.

[bemildred]

5. Yep, no going back, no matter how much money.

All the dead things stay dead. All the polluted things stay polluted. All the ruined lives never are the same again.

[Uncle Joe]

6. The reverberations from this environmental catastrophe will be felt far and wide.

Thanks for the thread, highplainsdem.