From Floods to Ditches, Homeowners at Risk

Clean water, climate change, natural disasters, and flood insurance are hot topics in the committee meeting this morning. Here is a quick synopsis of the discussion and why the issue is important to Realtors and homeowners.

Clean Water Act. the short story here is a proposal to expand the federal Clean Water Act to allow federal oversight of of "ALL WATERWAYS" instead of today's mandate to oversee navigable waters. This is a huge change in mission for the feds; and important for homeowners who have any water on their property. Think about the administrative rules you would have to deal with for a ditch or culvert in your neighborhood. Wetlands are important, but this proposal just waters down useful legislation and blurs the mission of the Clean Water Act.

Climate Change. Congress is looking at a comprehensive climate change legislation. This type of bill could touch on energy efficiency, carbon footprints, lighting, windows, and insulation. Realtors will be looking at these bills to make sure they don't make housing unaffordable or add in audits and disclosures that could slow down or stop sales. It is possible that this type of bill could end up with requirements for homeowners to replace heating or cooling systems, windows, or insulation. Mandates would be incredibly damaging to homeowners especially in these difficult economic times.

Natural Disaster Policy. Insurers have responded to recent natural disasters (flood, tornado) by raising rates and declining to write policies. With out insurance, deals fall apart. Realtors are supporting several bills designed to make sure the National Flood Insurance Program (NFIP) continues and for NFIP to include wind damage claims. Congress is expected to act on these insurance bills later this year.

Flood Insurance. Without Congressional action, the NFIP will expire (sunset) September 30, 2009. Realtors support the rewrite of the NFIP so that homeowners can get the flood insurance they need. Maintaining the funding of the NFIP is important, for both owner occupied and non-primary residences.

Time to move over to the "First 100 Days" session.