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Not at this time, which is good news for our area residents. Our county makes it difficult now for someone to rebuild in the flood plain if their home was severly damaged by flood, fire, or storm damage.
Not really, my waterfront market is already in designated flood zones.
NO...we got hit about 10 years ago and have worked to fix it ever since
Every day David Barr.
My market is the Outer Banks of NC. I live at the beach, so oh yes, proposed FEMA flood map changes are a major factor in our area...that said, we are encouraged by preliminary mapping reports, which indicate that thousands of homes may come OUT of the flood zone areas when the new flood maps are released.
The reason for the change is because better technology has allowed for more accurate mapping results. I have heard that prior to the most current mapping, the margin of error was +/- 5 feet, (!) while the new mapping technology has a margin of error of less than one foot.
So we are hopeful that the preliminary maps will be adopted and released, which will cause tens of thousands of properties to no longer be required to carry flood insurance by lenders (if a mortgage is carried on the property).
I understand that many other parcels, while not removed from the flood zone entirely, will be remapped from a higher (more costly premiums) flood zone into a lower level (less expensive premiums) flood zone. Unfortunately, there will be some properties here that will go from a more favorable zone into a less desirable one. But the word on the street is that overall, it's good news for the Outer Banks of NC!
Florida-YES. San Diego County-No.
Of course! FEMA has the opportunity to bring havoc upon home owners.
Of greater significance in Florida is the lifting of the moratorium on flood insurance policy increases. Premiums are now allowed to increase 25% annually. In five years the cost of owning a home in a flood zone, will be...a factor in my area.