Selling St Pete with Nicole Saunches

Nicole Saunches

Your Go-To Resource for all things real estate and all things St Pete

  1. 1d ago

    E080: Condo Master Policy vs. HO6: The Insurance Coverage Gap That Catches Florida Buyers Off Guard

    If you own a Florida condo or you're buying one, there's a gap between what your association's master policy covers and what you're personally responsible for — and many owners don't find out where the gap is until it's too late to fix it. In this episode, host Nicole Saunches sits down with Jill Quinn of Florida All Risk Insurance — a 26-year insurance industry veteran with hands-on experience as a licensed catastrophe claims adjuster (including Hurricane Irma and Hurricane Michael) — to walk through exactly what a condo owner's individual policy needs to cover, line by line, and what's happening in the Florida insurance market right now. About the GuestJill Quinn has spent 26 years in the Florida insurance industry — first as a licensed sales representative with Allstate and AAA, then as a state-licensed claims adjuster handling catastrophe property claims for carriers including State Farm and Tower Hill. She worked the field after Hurricane Irma (2017) and handled pre-litigation claims after Hurricane Michael (2018), later moving to the carrier side as a territorial sales manager overseeing 500+ agents across six Florida counties before returning to sales with Florida All Risk Insurance. Her background spans sales, claims, underwriting, and the carrier perspective — a rare combination in the industry. Contact Jill Quinn: Phone: 727-315-1003Facebook: Jill Insures FloridaWebsite: floridaallrisk.com What's Covered (Timestamps Approximate)[00:00] Why the gap between the association's master policy and your own coverage matters more in Florida than almost anywhere else[01:00] Jill's 26-year path from sales to catastrophe claims adjuster to territorial sales manager[04:00] The current Florida insurance underwriting climate — 20+ new carriers, Citizens down to ~2% market share[06:00] What people relocating to Florida don't know to ask about (separate policies for separate perils)[07:30] Why premiums keep rising even in quiet storm years (rebuild costs, materials, reinsurance — not just storm losses)[09:30] Regulatory changes: shrinking claim-settlement timelines and the move away from assignment-of-benefits litigation[12:00] Master policy vs. HO6: where the association's coverage ends and yours begins[14:00] Flood damage vs. water damage — and why the distinction catches people off guard[16:00] Personal liability coverage, explained through a real condo scenario[17:30] Medical payments to others vs. liability — what's the difference[18:30] Personal property coverage and when to schedule high-value items separately[20:00] Additional living expenses (loss of use) — what it reimburses and why to save receipts[21:00] Loss assessment coverage: a real example using a hypothetical Hurricane Milton scenario and a $1M association deductible split across 100 units[23:30] The #1 misunderstanding that derails condo purchases or catches existing owners off guard[24:30] Wind mitigation inspections — how they work and how much they can save a condo unit owner[28:30] Buying into a condo building that hasn't completed its state-required milestone inspection Key TakeawaysThe association's master policy covers the building's structure and common areas. Your own HO6 policy covers your unit's interior finishes, personal property, liability, and loss assessment.In a condo, water damage — not fire — is the most common claim, and it's frequently caused by a neighboring unit.Loss assessment coverage only responds to assessments tied to a covered loss, not every assessment your association issues — which is why knowing the master policy's hurricane deductible and the association's reserves matters.A wind mitigation inspection filed in the unit owner's name (not just the association's) can unlock discounts of $1,000 or more, especially tied to wind opening protection on doors and windows.Nearly 3,000 buildings statewide still haven't completed their post-Surfside milestone inspections — and that can affect whether a carrier will even write a policy on a unit in that building. Related Episodes in This SeriesThis episode is the third in a three-part series on Florida condo ownership: Florida Condo Financing in 2026: Why Your Mortgage Can Be Denied After You're Approved (with Doug Wagner, CrossCountry Mortgage) Podcast: https://selling-st-pete-with-nicole-saunches.captivate.fm/episode/florida-condo-financing-2026-mortgage-denied/ Blog: https://www.sellingstpetefl.com/posts/florida-condo-financing-in-2026-why-your-mortgage-can-be-denied-after-you-re-approvedWhat Changed Since SB 4D — and the Condo Red Flags Attorneys Actually Watch For (with David Reider, Berlin Patten Ebling) Podcast: https://selling-st-pete-with-nicole-saunches.captivate.fm/episode/what-changed-since-sb-4d-and-the-condo-red-flags-attorneys-actually-watch-for/ Blog: https://www.sellingstpetefl.com/posts/buying-a-florida-condo-in-2026-here-s-the-red-flag-checklist-an-attorney-actually-uses Coming UpA future episode with Jill Quinn will cover hurricane deductibles in depth — how they work differently from standard deductibles, why documenting every storm matters even below your deductible, and what buyers relocating to Florida need to know about flood insurance before they start touring buildings.

  2. Sep 4

    E079: This $80,000 Grant Could Get St. Pete Hurricane Renters Into a Home — Even in a Flood Zone

    What is the Sunrise St. Pete program, in one sentence? Sunrise St. Pete is a HUD-backed, forgivable down payment assistance grant of up to $80,000 for renters who lived in St. Petersburg during Hurricane Idalia or Hurricane Helene, designed to help them transition from renting into homeownership — including in flood zones. If you were renting in St. Petersburg during Hurricane Idalia or Hurricane Helene and assumed homeownership was out of reach, this episode is your reason to reconsider. Host Nicole Saunches sits down with Alexa Price of GO Mortgage — a lender who has spent three decades in the mortgage industry — to unpack the Sunrise St. Pete Homeowner Assistance Program, a HUD community development disaster recovery grant that offers eligible buyers up to $80,000 in forgivable down payment assistance. What makes this program different from typical down payment assistance? Two things. First, it's genuinely forgivable — not a second mortgage you start repaying immediately, but a 0% interest lien that's forgiven at 20% per year, disappearing entirely after five years in the home. Second, and unusually for a program of this kind, it allows buyers to purchase in a flood zone — something the earlier, similar Pinellas Recovers program didn't permit. In a city surrounded by water on three sides, that single detail opens the door to a huge share of St. Pete's housing inventory that would otherwise be off-limits. Alexa walks through exactly how the $80,000 figure is calculated (hint: it's tied to a front-end debt ratio between 35–37%, not a flat number everyone receives), who counts as a household for income purposes, how the program handles self-employed borrowers, and why there's no credit score minimum. She also addresses the biggest misconceptions buyers have — including why there's no pre-approval letter reserving funds, and why this program moves on a first-come, first-qualified basis. Beyond the program mechanics, Alexa and Nicole dig into the bigger picture for renters sitting on the sidelines: why waiting for interest rates to drop is a losing strategy in a market where 71% of buyers are doing the same thing, how seller-paid rate buydowns can offset today's rates, and why the lending environment today has nothing in common with 2008. If you've been told by a well-meaning parent or friend that now isn't the time to buy, this conversation is worth sharing with them too. Guest contact: Alexa Price, GO Mortgage — 727-409-3869 | aprice@gomortgage.com FULL SHOW NOTES WITH TIMESTAMPS[00:00] Introduction — up to $80,000 available for St. Pete hurricane-impacted renters[00:01] Alexa Price's background: 30 years in mortgage lending, GO Mortgage branch in Palm Harbor[00:02] How Alexa connected to the program via the earlier Pinellas Recovers initiative[00:03] Grant structure explained: 0% interest, second lien, forgivable — not a typical repayable DPA[00:04] How the $80,000 figure is actually calculated (front-end ratio must stay between 35–37%)[00:05] How household income is determined, including minors and other household earners[00:06] What "0% interest, no monthly payment" means in practice[00:07] Forgiveness schedule: 20% forgiven per year, fully forgiven at year five[00:08] Residency requirement: proving you lived in St. Pete during Idalia/Helene (leases, utilities)[00:09] Income eligibility: up to 120% AMI (limited slots) vs. 80% AMI (more availability), with real dollar examples for a household of three[00:10–11] How the grant works alongside a conventional or FHA mortgage at today's rates[00:12] Stacking this grant with other down payment assistance programs[00:13] Property eligibility: must be within city limits; open question on single-family homes with ADUs[00:14] "Don't currently own another residential property" — nuances around estate planning and prior storm-era ownership[00:15] Flood zones are allowed — a major difference from Pinellas Recovers[00:16] Biggest misconception: there's no pre-approval reserving funds; approval happens during the transaction[00:17] City of St. Pete property inspection requirement, including lead-based paint review[00:18] No minimum credit score requirement[00:19] Why this is a "call a professional, not ChatGPT" situation[00:20–21] Why buyers shouldn't be afraid to call and ask questions — no aggressive follow-up[00:22] First step for an interested buyer: the Sunrise St. Pete address lookup tool at stpete.org, then a call to Alexa's team[00:23] Application is free; only a soft credit pull, no impact to credit score[00:24–28] Homeownership myths: "I can only afford a starter home," rate vs. rent math, and the value of just starting somewhere[00:29] The 71%-of-buyers-waiting-for-rates statistic and why that creates future competition[00:30–33] Rate buydown options (3-2-1, 2-1, 1-1) and how they compare to renting long-term[00:33–35] Why today's lending standards are nothing like 2008 — no-doc/neg-am loans no longer exist[00:36] How to reach Alexa Price directly[00:37] Closing thoughts FREQUENTLY ASKED QUESTIONS What is the Sunrise St. Pete Homeowner Assistance Program? It's a HUD community development disaster recovery grant administered by the City of St. Petersburg, offering up to $80,000 in forgivable down payment assistance to eligible renters affected by Hurricane Idalia or Hurricane Helene. How much money can I actually get? Up to $80,000, but the exact amount is calculated to keep your front-end debt-to-income ratio between 35% and 37% — so the award amount varies by buyer, not a flat number for everyone. Is this really forgivable, or do I have to pay it back? It's forgiven at 20% per year over five years. If you stay in the home the full five years, the entire amount is forgiven. If you sell or move earlier, you'd owe the remaining unforgiven percentage. Can I buy a home in a flood zone with this program? Yes — this is one of the program's biggest differentiators. The earlier, similar Pinellas Recovers program did not allow flood zone purchases; Sunrise St. Pete does. Do I need good credit to qualify? There's no minimum credit score requirement. Eligibility comes down to whether you can qualify for an underlying mortgage product (FHA, conventional, etc.), not a set credit threshold. Who determines household income for eligibility? The program reviews all income in the household, including working minors and other household members, up to 120% of Area Median Income (AMI) with limited availability, or up to 80% AMI with more availability. Can I get pre-approved and have funds set aside for me? No. Unlike some other disaster recovery programs, Sunrise St. Pete does not issue pre-approval letters reserving funds. Buyers work with a lender, go under contract, and funds are confirmed as available at that stage. What property types qualify? Condos, villas, townhomes, and single-family homes within St. Petersburg city limits, purchased as a primary residence. (Single-family homes with ADUs are still being clarified with the program at the time of this recording.) How do I find out if my address qualifies? Use the address lookup tool on stpete.org under the Homeowner Assistance Program / Sunrise St. Pete section. What's the first step if I think I qualify? Check your address on the Sunrise St. Pete lookup tool, then contact a participating lender — like Alexa Price at GO Mortgage — for a free application with only a soft credit pull. KEY STATS & QUOTABLE FACTS Up to $80,000 in forgivable down payment assistanceForgiven at 20% per year over a 5-year periodFront-end debt-to-income ratio must stay between 35–37% to determine award sizeIncome eligibility up to 120% AMI (limited availability) or 80% AMI (more availability)No minimum credit score requirementFunded through a HUD Community Development Block Grant – Disaster Recovery (CDBG-DR) allocation to the City of St. PetersburgOn average, homeowners have 44% more net worth than renters at retirement (cited by host)71% of prospective buyers are reportedly waiting for interest rates to drop before purchasing GUEST BIOAlexa Price is a mortgage professional with roughly three decades of lending experience, currently leading a branch of GO Mortgage based in Palm Harpor, Florida (offices in Palm Harbor and Largo). She previously worked extensively with the Pinellas Recovers disaster recovery down payment assistance program and now helps buyers navigate the Sunrise St. Pete Homeowner Assistance Program. Contact Alexa Price: Phone/Text:...

  3. Aug 27

    Florida Condo Financing in 2026: Why Your Mortgage Can Be Denied After You're Approved

    Can you be fully approved for a mortgage and still have your condo loan denied? Yes. Mortgage expert Doug Wagner explains why the condominium building itself can determine whether a buyer can get financing, what changed August 3, 2026, how condo reserves and insurance affect financing, and what buyers and sellers should know before getting under contract. If you're buying a Florida condo in 2026, there's an important question you need to ask before writing an offer: Does the condo building qualify for financing? In this episode of Selling St. Pete, Nicole Saunches talks with mortgage expert Doug Wagner of CrossCountry Mortgage about the changing world of Florida condo financing. A buyer can have excellent credit, sufficient income, a down payment and a mortgage preapproval and still have a loan denied because of the condo project itself. And that's why condo buyers and sellers need to understand more than just the price of the unit. What you'll learnIn this episode, Doug explains: • Why condo financing is different from financing a single-family home • How Florida's post-Surfside condo changes are affecting lending • Why the condo association can be just as important as the buyer • What changed with Fannie Mae's Limited Review process on August 3, 2026 • Why putting more money down isn't necessarily the solution it once was • How reserve allocations can affect condo financing • The difference between money already sitting in reserves and money being allocated to reserves • Why the upcoming January 4, 2027 reserve change matters to condo owners • How insurance issues can derail a condo mortgage • How structural problems, repairs and special assessments can affect financing • What “warrantable” and “non-warrantable” mean • Whether a non-warrantable condo can still be financed • How portfolio and non-QM loans may provide alternatives • How seller credits and interest-rate buydowns may help in some transactions • Why a condo that wasn't financeable previously may become financeable later • What buyers should ask for BEFORE writing an offer • Why sellers should consider reviewing their condo documents before listing • Why the lowest HOA fee isn't necessarily the best deal The most important takeawayWhen you buy a condo, you're not just buying the unit. You're buying into the association. The building's budget, reserves, insurance, repairs, litigation and other characteristics can affect whether financing is available. That's why the condo should be reviewed early in the transaction rather than waiting until the buyer has already paid for inspections and an appraisal. What should you ask before buying a Florida condo?Doug recommends asking about: • The most recent approved budget • Certificates of insurance • Pending litigation • Structural repairs or renovations • Mandatory membership dues • Recreational leases • Hotel or condotel operation • Recent and anticipated special assessments And once you have the information, have a qualified mortgage professional review it. Coming January 4, 2027The standard replacement-reserve allocation for applicable Full Review loans is scheduled to increase from 10% to 15%, subject to applicable requirements and alternatives. For condo owners, boards, buyers and sellers, that makes understanding the association's budget and reserves especially important. Listen to Part 1This episode is the financing side of a larger Florida condo conversation. If you haven't already, listen to: What Changed Since SB 4D — And the Condo Red Flags Attorneys Actually Watch For Attorney David Reider explains the legal and document-review side of buying a Florida condo, including milestone inspections, Structural Integrity Reserve Studies, the condo rider and other important condo documents. Read the companion articleBuying a Florida Condo in 2026? Here's the Red-Flag Checklist an Attorney Actually Uses About Selling St. PeteSelling St. Pete with Nicole Saunches explores buying, selling, investing and living in St. Petersburg and throughout the Tampa Bay area, with a particular focus on Florida condos, waterfront property, relocation and the issues that can affect your real estate decision. DisclaimerThis episode is for educational purposes only and is not mortgage, legal, tax, insurance or financial advice. Mortgage and condo project requirements can change. Always consult an appropriately licensed professional about your specific situation.

  4. Aug 20

    What Changed Since SB 4D — And the Condo Red Flags Attorneys Actually Watch For

    In this episodeNicole sits down with David Reider — real estate attorney and partner at Berlin Patten Ebling, and a former licensed Florida real estate agent — to unpack everything that's changed in Florida condo law since the Surfside collapse and Senate Bill 4-D (SB 4D), and what it actually means for someone buying a condo in St. Pete right now. David isn't just a real estate attorney — he holds a master's in public health and disaster relief, that combination is exactly why this conversation goes deeper than the standard "SB 4D explainer" you'll find elsewhere: it's a working attorney's actual checklist, built from doing 10–20 condo document reviews a week. If you're buying a condo in Florida right now, there's a stack of paperwork behind that condo rider that didn't exist a few years ago — and it might be the most important part of your contract. In this episode, Nicole and David break down what's changed since SB 4D: milestone inspections, Structural Integrity Reserve Studies, the new 7-business-day document review window, and the specific red flags — flat HOA fees, missing inspections, active litigation — that should make any buyer stop and dig deeper before closing. Whether you're buying downtown in St. Pete or anywhere else in Florida, this is the episode for a buyer who thinks "the condo docs are just paperwork." Show notes / full breakdown: https://www.sellingstpetefl.com/admin/posts/buying-a-florida-condo-in-2026-here-s-the-red-flag-checklist-an-attorney-actually-uses Guest: David Reider, Real Estate Attorney, Berlin Patten Ebling, 727-822-2505

  5. Aug 6

    Is That Musty Smell Mold? What Every Florida Homeowner Needs to Know

    Florida's heat, humidity, and rain make it one of the most mold-prone climates in the country — and today's episode breaks down what that actually means for your home. Host Nicole Saunches talks with Doug and Ryen Linder, the father-son team behind DR Mold Solutions, about the black mold myth, where mold hides that you'll never see, what a real mold inspection report looks like, EPA/FDA-approved fogging treatment, the ideal indoor humidity range, and a rapid-fire Myth or Fact segment. Whether you're buying, selling, or just living in a Florida home, this one's worth the listen. Guests: Doug Linder & Ryen Linder, DR Mold Solutions (drmoldsolutions.com | 727-888-3858) Topics covered: indoor air quality, mold types & the black mold myth, mold inspections, remediation & fogging treatment, HVAC maintenance, ideal home humidity, real estate due diligence, prevention tips Chapters: 00:00 Intro | 03:30 Why Tampa Bay is a mold hotspot | 07:00 What indoor air quality really means | 12:00 The black mold myth | 17:00 A mold inspection, start to finish | 24:00 Remediation & fogging treatment | 36:00 Prevention & the #1 tip | 43:00 Ideal humidity range | 45:00 Myth or Fact | 52:00 How to reach DR Mold Solutions Links: www.drmoldsolutions.com Contact DR Mold Solutions: 727-888-3858

  6. Jul 31

    Understanding VA Entitlements: Demystifying Assumable Mortgages for Veterans

    VA entitlement isn't a loan amount, a credit line, or a one-time coupon — and almost nobody explains it correctly. In this episode, Nicole Saunches sits down again with Nora Simpson of AssumeList to break down VA entitlement in plain terms: full vs. partial entitlement, why there's no real cap on what a veteran can borrow, how to hold two VA loans at once, and the biggest myth in the industry — that only veterans can assume a VA loan. In this episode: What VA entitlement actually is (and isn't)Full entitlement vs. partial entitlement, explainedOwning two homes with VA loans at the same timeWhy leaving entitlement in place can be the smarter moveWho can actually assume a VA loan (hint: not just veterans)How to calculate exactly how much entitlement you have leftRapid-fire true/false on the industry's biggest misconceptions Links mentioned: AssumeList: assumelist.comFree daily Q&A: homes.assumelist.com/learn (weekdays, 11 AM ET / 8 AM PT)Assumable Mortgage Hub: https://www.sellingstpetefl.com/posts/the-assumable-mortgage-guide-how-to-buy-or-sell-with-a-2-3-interest-rate-in-today-s-market Connect with Nicole Saunches: 📧 nicole@nicolesaunches.com | 📱 Call/text: 719-201-5022 Veterans navigating a sale, purchase, or VA loan assumption in Tampa Bay — reach out directly. Buyers and investors wanting a free AssumeList sub-account, DM Nicole.

  7. Jul 30

    Understanding Financing Options for Assumable Mortgages

    Assumable mortgages can be one of the biggest opportunities in today's real estate market, but one question stops many buyers before they even get started:"How do I pay the difference between what the seller owes and what the home is worth?" In this episode of Selling St. Pete, Nicole Saunches sits down with Ryan Nelson of Barrett Financial, AssumeList's preferred lending partner, to explain exactly how buyers can finance the equity gap when purchasing a home with an assumable mortgage. If you've been told you need hundreds of thousands of dollars in cash to assume a low-interest mortgage, this episode may completely change the way you think about the process. In This Episode You'll LearnWhat the equity gap is and why it exists in almost every mortgage assumptionWhy financing the equity gap is a separate process from assuming the existing loanHow second mortgages and HELOCs can help buyers bridge the gapWhen assuming a mortgage makes financial sense—and when it doesn'tHow blended interest rates work when combining an assumable mortgage with secondary financingWhat buyers must do to qualify for an assumable mortgageCommon mistakes that can derail financing before closingWhy sellers with 2–3% mortgage rates may be sitting on an incredibly valuable assetThe biggest myths surrounding assumable mortgages Key TakeawaysOne of the biggest misconceptions about assumable mortgages is that buyers must have enough cash to cover the seller's equity. In reality, qualified buyers may be able to obtain secondary financing to bridge that gap. Ryan explains how fixed-rate second mortgages and home equity lines of credit (HELOCs) can work alongside an assumed mortgage, allowing buyers to take advantage of historically low interest rates while financing only the difference between the existing loan balance and the purchase price. The conversation also emphasizes that every transaction should be evaluated individually. Sometimes assuming a mortgage creates enormous long-term savings. Other times, depending on the loan balance and equity, a traditional mortgage may actually be the better financial choice. As Ryan says throughout the episode: It's all about doing the math. Myth vs. FactNicole closes the episode with a rapid-fire Myth or Fact segment covering: Do you always need a second mortgage?Does assuming a mortgage eliminate underwriting?Can only the original lender finance the equity gap?Does Barrett Financial only work with AssumeList clients? The answers may surprise you. Featured GuestRyan Nelson Barrett Financial Group Ryan specializes in assumable mortgage financing, second mortgages, HELOCs, FHA, VA, conventional financing, and self-employed borrower solutions. He works with buyers nationwide to help structure financing options that make homeownership more affordable. Connect with Ryan NelsonPhone: (480) 861-7841 Email: rnelson@barrettfinancial.com Resources MentionedAssumeListBarrett FinancialBlended Mortgage Rate Calculator (search "Blend Rate Calculator" online) About Selling St. PeteSelling St. Pete is your trusted resource for real estate education throughout the Tampa Bay area. Host Nicole Saunches interviews industry experts to help buyers, sellers, investors, and homeowners better understand today's housing market, financing strategies, insurance, legal issues, and the many options available when making one of life's biggest financial decisions. If you found this episode helpful, please subscribe, leave a review, and share it with someone who could benefit from learning more about assumable mortgages.

  8. Jul 15

    Mortgage Assumption 101: How St. Pete & Tampa Buyers Are Landing 2–3% Rates in Today's Market

    Home prices are up, rates are up, and most buyers assume that means they're priced out. But some homes still carry a mortgage from 2020 or 2021 — with a rate of 3%, 2%, sometimes even lower — and in the right circumstances, a qualified buyer can simply take it over. It's called a mortgage assumption, and it might be the most underused tool in real estate right now. In this episode of Selling St. Pete, host Nicole Saunches sits down with Nora Simpson, Head of Education at AssumeList, for "Mortgage Assumption 101." Nora breaks down which loans are actually assumable (VA, FHA, and USDA), how buyers can bridge the equity gap with as little as 10% down, why sellers with an assumable mortgage may be sitting on a goldmine for their sale price, and how AssumeList closes assumptions in 60 days or less with a perfect approval track record. Nora also joins Nicole for a rapid-fire "Myth or Fact" segment, busting six of the most common misconceptions about mortgage assumptions. In this episode: What a mortgage assumption actually is (and how it differs from "creative financing")Which loan types qualify — VA, FHA, and USDA — and the nuances of eachHow buyers cover the equity gap with a second mortgage and as little as 10% downWhy assumable listings can spark bidding wars and drive prices above listThe #1 reason assumptions stall (hint: it's not the loan type)Six mortgage assumption myths, debunked Guest: Nora Simpson, Head of Education at AssumeList. Daily live Q&A, Monday–Friday, 11am ET / 8am PT at assumelist.com. Registration: homes.assumelist.com/learn. Email: nora@assumelist.com. Host: Nicole Saunches, Selling St. Pete — an AssumeList-trained agent serving the St. Petersburg–Tampa area. 🎧 Listen to the full episode: https://player.captivate.fm/episode/8949653c-340c-41ab-81d4-95a2089af562/ Also available on Spotify and Apple Podcasts.

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