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News Story
Updated: 10/02/2013 08:00:02AM

Soaring flood insurance sinks home sales

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SUN PHOTO BY PATTIE MIHALIK

Realtor Sue Marcoline stands in front of one of the homes that had a pending sale canceled because of soaring flood insurance rates. Realtors fear the housing market will collapse again if high flood insurance rates make it impossible to sell homes.

SUN PHOTO BY PATTIE MIHALIK

Realtor Sue Marcoline stands in front of one of the homes that had a pending sale canceled because of soaring flood insurance rates. Realtors fear the housing market will collapse again if high flood insurance rates make it impossible to sell homes.

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When the home in the Grassy Point section of Port Charlotte was put on the market last month, Realtor Sue Marcoline thought it would sell fast.

Located on a quiet cul-de-sac with desirable deep-draft sailboat water, the home boasts a swimming pool, hot tub, two docks and a lift.

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