I went home to St. Petersburg for my high school reunion last November. Some of my classmates who live on either Treasure island or St. Pete Beach now pay about $2,000 a year for flood insurance, under the new plan they were told it would go to about $20,000 per year. Most of these homeowners would have to become self insured, meaning no insurance, and would have to just about give it away when they sell. We did some looking while there, and the beach areas had a lot of bargains, $100,000 to $150,000 went a long way.
I just took this off Zillow, it's a 1BR/1BA condo on the beach, asking $116,000. Last sold in 2004 for $142,000.
