Everybody said no one would want to wind up back in Florida after it was ravaged by two hurricanes this month...and once again, it looks like "everyone" is wrong.
Such was the conclusion of a recent Bloomberg article which detailed "one of the largest real estate brokerages in Boca Grande, a village on Florida’s Gasparilla Island" which has seen immediate demand following the storms.
“We’re already having people calling, investors, some bottom fishers, saying, ‘I will buy anything in cash and close in two weeks,’” brokerage founder Michael Saunders told Bloomberg.
He added: “People’s memories are short when it comes to the disastrous things that come with a storm. They forget and are right back demanding beach front houses.”
Milton was the third hurricane to hit the island in two years, the report notes. In 2022, Ian flooded streets and damaged roofs. Helene followed this September, surging through dunes and mangroves, leaving two feet of water in Boca Grande's shops.
Just ten days later, Milton struck again, flooding luxury homes, condos, and downtown businesses still recovering from Helene. It knocked out power and water, tore up banyan-lined roads, and left sand drifts around the Gasparilla Inn, a favorite of the Bush presidential family.
The Bloomberg article says that Boca Grande, long associated with old money, saw property values soar during the pandemic, with median home prices more than doubling to $4 million since 2019, per Redfin. However, home sales have recently dropped to a quarter of their 2021 peak, mirroring a 30% decline statewide.
After Hurricane Milton, Lee County Sheriff Carmine Marceno flew in by helicopter, offering what he called a “concierge-level” response. Crews quickly cleared five-foot sand drifts, allowing workers to restore power, repair roads, and dig out luxury homes.
Marceno said: “People needed to know we are here. Our mission was to get this place open, so people could come back to check their property.”
Glenn Scarpa, owner of restaurant Scarpa’s Coastal, said he's tired of rebuilding. Milton flooded his restaurant with over three feet of water, hitting before it even dried out from Helene.
He said: “The boo-hoo period is over, and now I just have to focus on rebuilding my life — again. What more can I do?”
Down the beach, Milton ended the short-lived revival of South Beach Bar & Grille, which had reopened only weeks after being destroyed by Hurricane Ian. The storm shattered windows, eroded sand, and cracked the foundation. Co-owner Marco Meola fought back tears as he surveyed the damage.
Meola said: “Hurricane Ian was really devastating, an emotional roller coaster that took a lot of toll on us, and now this. We feel like if we can survive that, we can come back from this.”
Everybody said no one would want to wind up back in Florida after it was ravaged by two hurricanes this month...and once again, it looks like "everyone" is wrong.
Such was the conclusion of a recent Bloomberg article which detailed "one of the largest real estate brokerages in Boca Grande, a village on Florida’s Gasparilla Island" which has seen immediate demand following the storms.
“We’re already having people calling, investors, some bottom fishers, saying, ‘I will buy anything in cash and close in two weeks,’” brokerage founder Michael Saunders told Bloomberg.
He added: “People’s memories are short when it comes to the disastrous things that come with a storm. They forget and are right back demanding beach front houses.”
Milton was the third hurricane to hit the island in two years, the report notes. In 2022, Ian flooded streets and damaged roofs. Helene followed this September, surging through dunes and mangroves, leaving two feet of water in Boca Grande's shops.
Just ten days later, Milton struck again, flooding luxury homes, condos, and downtown businesses still recovering from Helene. It knocked out power and water, tore up banyan-lined roads, and left sand drifts around the Gasparilla Inn, a favorite of the Bush presidential family.
The Bloomberg article says that Boca Grande, long associated with old money, saw property values soar during the pandemic, with median home prices more than doubling to $4 million since 2019, per Redfin. However, home sales have recently dropped to a quarter of their 2021 peak, mirroring a 30% decline statewide.
After Hurricane Milton, Lee County Sheriff Carmine Marceno flew in by helicopter, offering what he called a “concierge-level” response. Crews quickly cleared five-foot sand drifts, allowing workers to restore power, repair roads, and dig out luxury homes.
Marceno said: “People needed to know we are here. Our mission was to get this place open, so people could come back to check their property.”
Glenn Scarpa, owner of restaurant Scarpa’s Coastal, said he's tired of rebuilding. Milton flooded his restaurant with over three feet of water, hitting before it even dried out from Helene.
He said: “The boo-hoo period is over, and now I just have to focus on rebuilding my life — again. What more can I do?”
Down the beach, Milton ended the short-lived revival of South Beach Bar & Grille, which had reopened only weeks after being destroyed by Hurricane Ian. The storm shattered windows, eroded sand, and cracked the foundation. Co-owner Marco Meola fought back tears as he surveyed the damage.
Meola said: “Hurricane Ian was really devastating, an emotional roller coaster that took a lot of toll on us, and now this. We feel like if we can survive that, we can come back from this.”