Michael J. Perry, Lancaster, PA   Relo Specialist (KW Elite )

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Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

NO. I do not recommend anyone buy in a flood zone.  We have areas that require the costly insurance despite the fact that is has not flooded there in 80+ years. 

Mar 18, 2016 02:00 AM
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John McCormack, CRS
Albuquerque Homes Realty - Albuquerque, NM
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Flood insurance has a huge impact on real estate in our area.

Mar 18, 2016 12:57 AM
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Susan Laxson CRS
Palm Properties - La Quinta, CA
Local Knowledge & Global Network

Yes, and getting more expensive.

Mar 18, 2016 12:07 AM
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Joan Dickie
Keller Williams Premier Realty - La Crosse, WI
Keller Williams Premier Realty

This is a hugh problem in my city. One of our nicknames here is the 7 rivers region.  La Crosse is built on three rivers, Mississippi, La Crosse and Black Rivers.  I've seen beautiful homes that just can't sell.  Homes in the flood plain have to really reduce their price in order to attract a buyer.  The problem is so severe that the city is looking into ways to help mitigate the damage on home values.  They haven't come up with a hard plan yet

Mar 17, 2016 11:58 PM
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Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

I never recommend to my clients that they buy a home in a flood zone requiring flood insurance... hellishly expensive. 

Mar 17, 2016 11:30 PM
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Barbara Todaro
RE/MAX Executive Realty - Retired - Franklin, MA
Previously Affiliated with The Todaro Team

not in my area, but I know of other areas, especially on Cape Cod where the figures are astronomical!!!!

Mar 17, 2016 11:29 PM
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Sybil Campbell
Long and Foster REALTORS® 5234 Monticello Ave Williamsburg, Virginia - Williamsburg, VA
REALTOR® ABR, SFR, SRES Williamsburg, Virginia

We don't routinely have to deal with flood insurance in the Williamsburg area.

Mar 17, 2016 11:24 PM
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Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Michael J. Perry No, a friend purchased a home in Florida and was shocked at the high cost of flood insurance premiums.

Mar 17, 2016 11:12 PM
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Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

That issue applies to 70% of the real estate sold in beachy Florida. The good news is 60% of homes are sold CASH.

The buyers are sorted by how far inland they want to be.

Then the seller waits for the buyer who can afford to live their.

Price compresses the time for those who allowed wait time to be a player.

Yes, it is an issue. Rates are allowed to increase 25% a year. Who wants to live with such balloon that could occur at any time.

Mar 17, 2016 10:48 PM
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Raymond E. Camp
Howard Hanna Real Estate Services - Ontario, NY
Licensed Real Estate Salesperson Greater Rochester

I have had two and have a listing that will not drop the price!

Mar 17, 2016 10:48 PM
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Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

Yep! We have a LOT of floodplain properties and if they are not properly graded and possess elevation certificates, the cost of flood insurance can be astronomical. In one very desirable subdivision of acreage homes, quite a few were built on ungraded lots that are below base flood elevation. Flood insurance can run 1500 to 3000 annually . . . and it doesn't rain that much here. But when it does, we do get flash flooding. So it's hugely material. But despite that, the turnover in that subdivsion is very low and prices stay good. A lot of owners opted for manufactured homes built on raised foundations in that area, and they're golden. Those flood riders are insanely low - like under 100 a year.

Mar 17, 2016 10:47 PM
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Richard Weeks
Dallas, TX
REALTOR®, Broker

I have not experienced that situation.

Mar 17, 2016 10:45 PM
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Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

No

Mar 23, 2016 01:51 AM
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Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

We do not have many areas that are in a flood zone, so not a huge deal here.  Flood insurance is costly!  

Mar 20, 2016 12:22 AM
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Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

Good morning Michael. I have seen many transactions blow up because of flood insurance, the result will often mean a lower price for the seller.

Mar 18, 2016 07:32 PM
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Michael J. Perry I do recommend my buyers to stay away from homes with high flood insurance.

So yes, this is likely to happen.

Mar 18, 2016 04:23 PM
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Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

I have not and so glad. In fact I haven't sold a home in a flood plain in several years.

Mar 18, 2016 01:18 PM
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Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - Stevens Point, WI
Forestland Experts! 715-204-9671

My banker told me a while ago that they will never finance anything in a floodplain again, not worth the pain they go through with the feds.

Mar 18, 2016 10:36 AM
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Larry Johnston
Broker, Friends & Neighbors Real Estate and Elkhart County Subdivisions, LLC - Elkhart, IN
Broker,Friends & Neighbors Real Estate, Elkhart,IN

So far I have not has a flood insurance issue.

Mar 18, 2016 10:13 AM
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Noah Seidenberg
Coldwell Banker - Evanston, IL
Chicagoland and Suburbs (800) 858-7917

No that does not happen much here.

Mar 18, 2016 08:28 AM
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William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

I had one in the flood plain, but it didn't really have an impact

Mar 18, 2016 06:39 AM
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Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

This has been an issue in FL for quite some time now.

Mar 18, 2016 05:35 AM
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Patricia Kennedy
RLAH Real Estate - Washington, DC
Home in the Capital

I haven't handled any properties with flood plain issues in a long time, but I really don't have a problem with having the people who choose to live on a river pay for the risks of flooding, rather than have them be subsidized by tax-payers. And the risk of being underwater (literally) isn't that appealing when there is a high dollar value placed on it, in addition to the mess that Mother Nature can create.

My father was a hydrologist with the US Geological Survey, and at the end of his career, he was sort of the King of the Floor Plain Maps.  I remember, as a little girl, hearing him rant about new luxury homes backing up to a beautiful country club, but with a creek that flooded regularly in their back yards and basements.  And what really annoyed him was the builders could sell these homes with federally insured loans and heavily subsidized flood insurance. His views have probably colored my own.

Mar 18, 2016 03:45 AM
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FN LN
Toronto, ON

No.

Mar 18, 2016 03:10 AM
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Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

The people who worked on the maps need lessons I developing maps.

Mar 18, 2016 02:45 AM
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Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg Real Estate

No, not in the Midwest market.

Mar 18, 2016 02:34 AM
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Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

We are in a drought season and the insurance company needs these flood zone dynamics to make a buck or two extra...The fact is, that the majority of homes in certain places just don't have flood issues even if in a potential zone

Mar 18, 2016 02:10 AM
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Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West & Lend Smart Mortgage, Llc. - Carlsbad, CA
Presence, Persistence & Perseverance

This does not surprise me. We are all in store for another financial assault by insurance companies. I have not had any listings experience that....yet!

Mar 18, 2016 01:33 AM
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Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

No, thankfully no issues for me

Mar 18, 2016 12:01 AM
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Roy Kelley
Realty Group Referrals - Gaithersburg, MD

No. Home buyers need to be alert for these risks.

Mar 17, 2016 11:44 PM
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Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

wow!

Mar 17, 2016 11:32 PM