‘I just want to leave’: Floridians selling flood-damaged homes ‘as is’ to investors after 2 major hurricanes
In the wake of back-to-back damage from hurricanes Helene and Milton, a wave of Florida homeowners are selling their flood-damaged properties using words like "as is," "cash only" and “for investors.”
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The Tampa Bay market is reportedly seeing dozens of such listings from homeowners desperate to get rid of houses that have become liabilities.
“I just want to leave,” St. Petersburg homeowner Ali Linville told ABC Action News. “I mean, once you've had it done three times, it's like, OK, I've had enough.”
Linville has decided it’s time to “cut her losses.” According to the report, she bought her home in 2021 for $575,000. It flooded three times in just two years, and it has been stripped down to the studs again. The home is now listed for $425,000, reflecting the cost of flood repairs that still need to be completed.
"I can't live in a flood zone where you are constantly having to move out for six or seven months," she said.
After Milton and Helene, residents are ready to cash out
Linville is not alone. Realtor Ross Fengfish represents a couple a quarter of a mile away who is also ready to sell. His clients bought, renovated, and flipped the property before the hurricanes hit. The house was on the market, and they were seeing interest — until the flood waters rose. The house was previously listed for $460,000. Now it's gutted, and Fengfish has dropped the price to $299,990.
Fengfish is hopeful residents will be able to sell and start over. He says investors are calling and ready to buy up the homes.
“A lot of [houses are] pending. I was actually surprised to see that,” he told ABC Action News. “... maybe including with the insurance money, they're going to do okay, like they, you know, they can walk away, maybe just unscarred, and move on with life. That's possible.”
Chris Beardslee, another Shore Acres resident, is also pulling up stakes.
"Is this worth going through again? How am I going to feel next year, let alone two weeks later like this one was?" Beardlee told Fox 13. "It’s more important for peace of mind for the future to move along and sell the house for what we can get for it."