Soaring insurance slows Florida's coastal real-estate market

02/26/2007 | Insurance Journal

Soaring insurance rates in coastal Florida have stalled sales of residential properties, real-estate agents say. "[Insurance] is a huge deterrent to anyone looking at buying property anywhere in our state. We have property for sale that normally would have been gobbled up but, because of the insurance situation, is just sitting," said John Pinzino, a real estate agent. Agents hope recently signed insurance reforms result in lower rates.

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