More FEMA Designated Flood Zones - Effective Date 01/20/2010 in my area!
As if we weren't having enough fun already in the industry, FEMA has altered flood zone locations across the country. Now I don't know about you, but the last transaction I had that required flood insurance nearly blew it out of the water, to the tune of $1,755 a year on top of the $515 the buyers were paying for home owner's insurance. And this was on a home selling for $126,000. $150+ a month is BIG NEWS to buyers at this level, and in their case they didn't know about the flood insurance going into the transaction (that's another story).
Here's chart for my local county. Below is an example of a map from the FEMA site. All pictures are linked to the original, and there is a link at the bottom to go to the FEMA map locater page itself so that you can find your specific area.
Now's the time to start that kayak business you've always wanted to open!
Gloucester County, NJ Listing of Communities Flood Map from FEMA (linked to map menu)
Example Map - Gloucester County NJ - Zoomed In (Linked to main search for Gloucester County, NJ)
Steve Kappre is a mortgage loan officer in New Jersey with Treasury Mortgage, a subsidiary of Aurora Financial Group. For more info check out:
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