Flood insurance fears slowing sales in Florida

Between the new FEMA flood maps and the higher costs have created many new problems. I have seen buyers back out of transactions it was found out that the land in now in a flood zone and the cost certainly doesn't help.

Let's make 2014 the best year ever Brad!

Brad   I am just now getting our hamlet of Westcliffe to enroll in the NFPI program.  It's the first step in getting FEMA mapping and insurance.  Happy New Year, my friend!

Howdy and evening Brad

, here is to you and every member of your family are having a mighty enjoyable and safe New Year's Eve!

     I showed lakefront houses in Tallahassee yesterday.  This was "the big question" from the Buyers - is it in a Flood Plain?

Brad, Flood insurance will cause many buyers to say "no deal" to homes in flood zones largely due to the high cost of insurance.  This too shall pass.

Wishing you continued good health, happiness and success in 2014 and beyond!

Happy New Years!  

I can see how being in a flood zone can cause major problems for sellers.   It is sad when insurance rates become so high that home owners and business owners can not afford it.  

At the same time, I'm not sure that everyone should have to subsidize insurance for people that choose to live in high risk areas.  

Brad - I just wanted to stop by and wish you a Happy New Year!

Hi Brad this can be a scary issue for potential home buyers. You definitely need flood insurance. Very good and to the point writing and links.

Sorry to hear this Brad, but quite understandable. Hopefully, this gets smoothed out soon..

I wish you many successes ( and much happiness) in 2014.

Brad: I feel for those people who have been able to live in flood zones, but now have to reconsider (sell?) because of the high insurance. Or be without. This will affect many lower income people where this is a major consideration.

Many Maryland retirees are considering coastal areas for a retirement home location and they need to be very much concerned with the potential cost of flood insurance.

Brad, I am thinking of buying in Galveston, a waterview condo on second floor. This flood insurance issue has me concerned. Thanks for the link to the Realtor mag.