Days Are Filled with Flood Zones

Ginny Flood Zones, and the Flood Insurance Homeowners need to pay are also a big concern for CT homeowners along  the  Long  Island Sound.

It is important to make buyers aware of this .  The elevation certifcate is a document that is of great benefit to the buyer and seller.

- elevation certificate must be received prior to listing any home for sale in a flood plain.  It is the first question a sales agent or a home buyer should ask of a listing agent.

- know the cost of flood insurance for the current property's home prior to listing it.

- let the seller know that the market value of the property is lower if you are in a VE or AE flood plain.  Pricing of the home must reflect the 'now' value.

Ginny, back in the day my dad was the king of the flood planes at the US Geological Survey.  When I has about to buy a gorgeous townhouse on, yes, a flood plane, I could hear his voice yelling at me from the beyond, and I couldn't do it.  I guess I sort of feel like people who want the fabulous water views maybe should assume the financial risk. 

Ginny, that's a good news that increase is not going to happen till 2018. After that? Hopefully, status quo.

Long Island is not too much different in parts. 

Good morning Ginny. Believe me, I understand. The costs related to flood insurance has completely gotten out of hand and have caused sales to fall apart. This issue will not get any easier going forward.

Ginny, yes, this issues is something we've been dealing with for many years.  

I can't imagine dealing with flood zone issues that much Ginny.  We've got a few areas in town that have them, but not many.  

All this post did is make one thing perfectly clear to the reader who is venturing into this arena...Call this woman now....Your "in" when you call "Gin"

Living near the James River in Richmond Virginia we often run into flood zones. This is very important information to convey to our buyers and sellers. I often will have a client call their home insurance rep to see how much the flood insurance will be as it certainly can make a difference in their payment each month!

This is, quite literally, a problem that is not going away.  Here in Marin County we also have a lot of coastal and flood zone properties.  Understanding how this plays into financing is something many of the real estate agents could do better.  In a hot market, they can get away with glossing over the true expense, just telling the buyer that "it's a cost of living here."  But I think the flood changes are significant enough that the day of reckoning will come and we will be forced to understand how flood zones are playing into individual homes' pricing.

Living in the Great Pacific NW, there are areas prone to flooding.  And it's become an issue since flood insurance has gone up.  You're a true advocate for buyers and sellers in your area.  You know when the waters are rising!

Ginny:  We professionals must be well-versed and educated about zoning, rules, regulations, and legal issues that will confront our clients and the properties they hope to buy and finance.  The list is growing and changing all the time.  Your post proves why it's important in your area to find the most educated and experienced professional in regards to navigating flood issues ... YOU!

Gene

Ginny- this is the kind of information the sets you, the professional, far and above the others!  It's important to know this if you are to be the local expert, which you are. 

Ginny -- You certainly have your hands full with flood zones in RI. Your buyers and sellers definitely benefit from the expertise and knowledge you offer.

Ginny, This certainly makes being a waterfront agent a real challenge to stay on top of the "changes" and you have got that under contol. Good Job!

I need to follow your lead Ginny. With the recent changes so many properties are now in flood plain that were not before, making them less affordable.

Ginny, you're a true advocate for buyers and sellers in your area. Your expertise and knowledge set you apart from the rest!

Great comments.  We have many of the same challenges in Florida and flooding is constantly a problem.  Just another one of those many challenges we work through on a daily basis.