PirateFest

Anchors Up Along

Fort Lauderdale Riverwalk, April 29

FOR ALL!

By Jaye Abbate

AHOY, mates!

Pirate Fest returns to Fort Lauderdale’s Riverwalk Esplanade Park Saturday, April 29. This FREE family festival has become a favorite spring event offering food, games, canons, costumes and pirate themed fun for all ages. Presented by the Rotary Club of Fort Lauderdale and Bobby Rodriguez Productions, producer of the annual Renaissance Festival, proceeds benefit Rotary Club scholarships for students and dozens of important community projects and non-profits.

What can you expect? Adult pirates will revel in the beer garden, rum tasting, and exciting rides. Pirate kids will enjoy arts and crafts, face painting, and a pirate themed bounce house. Plus food trucks, craft vendors, pirate canons, a costume contest and live music all day long, for a great cause. Returning after it’s long pandemic pause, this beloved community event brings smiles to faces and Instagram moments to all.

Best of all, funds support so many great causes and charities. From plane rides for kids with special needs to housing starter-kits for kids aging out of foster care, holiday meals and toys for those who go without, hurricane assistance for devastated communities, clean water projects, wheelchairs for people in need, college scholarships and more.

So, pull out your best pirate gear and save the date …. or walk the plank!

Details at: www.PirateFestFortLauderdale.Live or RotaryFortLauderdale.org

From Ian insurance hikes to HOAs having to Balance their budgets…

As I review the many articles that are beginning to summarize the damage costs of Hurricane Ian, I begin to understand and foresee an unfortunate trend that is not about slow down!

Hurricane Ian, a deadly category 4 Atlantic hurricane that struck Florida and South Carolina earlier this year, caused the second-largest insured loss after Hurricane Katrina in 2005, according to reinsurer Swiss Re

Between $50 billion and 65 billion in insured damages were recorded after Ian made landfall in western Florida in late September with extreme winds, torrential rain and storm surge.

"The expense will be higher because of higher construction costs and overall inflation," Denise Rappmund, the vice president of Moody's Public Project and Infrastructure Finance Group, told ABC News. "FEMA is the key source of aid following a natural disaster, but much of the costs to repair and rebuild damaged property will be borne by property insurers who will benefit from $2 billion of state-funded reinsurance."

The cost to be a home or condo owner just in insurance is becoming very important and we in the homewatching industry are striving to help with ongoing knowledge and expertise to help these owners have representation while they’re away! If a homewatch expert (by being present), can help stabilize and even one day…lower insurance costs then all the better!!

By Russell Miller

In addition to the direct impact on insurance costs, hurricanes can also have a ripple effect on the local economy, including the real estate market. If the damage caused by Hurricane Ian was particularly severe in certain areas, it could lead to a decrease in property values and a decline in home sales, which could further impact insurance rates and availability.

HAO FEES MUST INCREASE… Florida LAW!

Florida's Senate Bill SB 4-D was passed in May 2022, making it mandatory for all Florida condominium and cooperative buildings, three stories or higher, to undergo milestone inspections, structural inspections, to no longer allow for the waiver or reduction in the funding of reserves, as well as submit specific budgets. ** Hopefully a real measure to ELIMINATE SURPRISE ASSESSMENTS for GOOD! By disallowing this practice, the legislation will force owners to recognize that the true cost of living in an association must include healthy amounts of reserve funding—it’s the only way to reliably offset the ongoing effects of deterioration of building components.

This new trend to “preventive budgeting”, I believe, is far overdue and a strong signal to all of us Florida property owners to privately build.. our own reserves!

▸ Russell Miller, contributing author and CEO of Ice Palm International Concierge and Consulting. Russell is also a Florida licensed Realtor, part of the Sklar Team at Coldwell Banker Realty.

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