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np,Lehigh Acres Property Investors At Risk Of Losing Value

Lehigh Acres Fire Control and Rescue District is in the middle of discussing a Fire Fee Assessment that may radically change the way investors view Lehigh Acres. We have discussed the proposed Lehigh Acres Fire Fee Assessment in a previous blog post and the associated ISO rating. What does this mean to current and future property investors?

New Lehigh Acres Property Investors
The decision that voters make about the Lehigh Acres Fire Assessment proposal could determine whether new real estate investors invest in Lehigh Acres. Why put your money into an investment that won’t provide a sure profit? Until the property insurance rates are truly known (based on any revised ISO rating), it does not make financial sense to invest in an area where the future hangs in the balance.

The outcome of the vote is not only a large factor for safety reasons, but financial as well. Property managers are already worried what the possibility of raised prices will mean for their tenants and how it will affect their property investments. Future investments will also be at risk as potential investors may be disenchanted with Lehigh Acres when they see a sudden insurance increase. A spike like that shows a lack of infrastructure and property investments become a risk instead of an opportunity.

Current Lehigh Acres Property Investors

Lehigh Acres is just starting to bounce back in the real estate market. The area took quite a hit in the “boom and bust” of 2008 and 2009. Lately though, the area is starting to pick up its pace.  Lehigh Acres is has the potential to really grow. It is located in the prime Southwest Florida region and is picking up the pieces from the recession.

If tenants can’t afford higher rent prices, the vacancy rates in Lehigh Acres will increase. Another property value decrease would prove detrimental to an already fragile area. A decrease in property value coupled with higher insurance rates may scare off Southwest Florida property investors. From the point of view of an investor, I am concerned what this vote may mean for the future property investments in the area. We’ll just have to see what the November vote brings.