“Flood Waters are Definitely an Appraisal Issue”

Mortgage and Lending with Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 NMLS # 6869

“Flood Waters are Definitely an Appraisal Issue”







Just wondering if the driveway being under 12" of flowing water impacts the appraisal of the property?  We knew the property was within the 100 year flood plain, not the house, but seeing it first hand is something different.  I'm thinking the FEMA mapping shows it can actually be another 1-2 feet higher for the 100 year storm event.



Yes, the appraisal will be impacted by flood waters. Once observed by the appraiser who then has an obligation to search out the information from the FEMA maps. The appraiser will also have to determine the value based on observation, flood maps and comparing it to other properties that most likely would not be in a flood zone.


If a property is in a flood zone, there is the yearly cost that comes into play. The cost, broken down monthly will need to be part of the mortgage payment. 


Another important factor will be resale value if the property is actually purchased. A lot to consider for any prospective buyer.


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Joe Petrowsky, NMLS #6869

Right Trac Financial Group, Inc. NMLS #2709

110 Main St.

Manchester, Ct. 06042

Office: 860 647-7701 x116

Fax: 860 647-8940

Cell: 860 836-9294

Email: joe@righttracfg.com



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Joe Petrowsky does not guarantee nor is in any way responsible for the accuracy of the information provided herein, and provides said information without warranties of any kind, either expressed or implied.

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Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Joe. Not all waterfront adds value. Sometimes it hurts. Enjoy your day!

Jan 06, 2020 05:08 AM #1
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Many retires have changed their minds about purchasing in coastal areas.

Jan 06, 2020 05:23 AM #2
Michele Cadogan 917-861-9166
Fillmore Real Estate 2990 Av U, Bklyn , NY 11229 - Brooklyn, NY
Licensed Real Estate Associate Broker -

Mold maybe another issue to consider if there is a flood water issue.

Jan 06, 2020 08:51 PM #3
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Joe Petrowsky

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