d.Diane Sanders, d. Diane Sanders (Sanders Family Real Estate)

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John Meussner
Mason-McDuffie Mortgage, Conventional Loans, Jumbo Loans, FHA, 203(k), USDA, VA, - Walnut Creek, CA
#MortgageMadeEasy Walnut Creek, CA 484-680-4852

Any county declared a disaster area is subject to a reinspection by an appraiser - appraiser needs to go back and notate in their report that the property has not been effected by the event. The 'event' has to have ended, and immediately thereafter the reinspection can take place.

I've dealt with this several times, most recently with superstorm Sandy.

I don't know about declaring the disaster "closed", but I know that we've always scheduled reinspections as quickly as possible after the disaster subsides (roads are passable/appraiser can get to the property safely for reinspection).

Sorry you're going through this, I have a client in the Houston area that was supposed to close on his first ever home on Monday, and now we're waiting for repairs on the home to be done due to wind and rain damage. We know they're lucky that the home being damaged is their biggest concern, though. Best of luck!

Aug 31, 2017 09:07 PM
Rainer
91,125
Theo Shaw
Baird & Warner Residential Real Estate - Evanston, IL
Serving Evanston, IL & Beyond

NAR has posted Transaction Guidance After Natural Disaster.

It mentions contacting lenders about re-appraisal.

Aug 31, 2017 06:39 PM
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Fred Griffin Tallahassee Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

  Perhaps one of the lenders on ActiveRain can weigh in on this.  

  Summoning

   Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi  

  Caroline Gerardo 

   George Souto 

   John Meussner 

  @joe petrowsky 

Aug 31, 2017 08:22 PM
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Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

SO sorry that you're going through this, Diane. I cannot fathom what you and your fellow Texans are going through right now.

I would read the NAR piece and take the advice from lender members - I haven't been through anything like that and have nothing to share with you but, my thoughts and prayers.

Aug 31, 2017 09:32 PM
Rainmaker
3,729,948
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

I'm sorry you are going through this.  It looks as if Theo Shaw has an excellent link to an article that hopefully will be useful. 

Aug 31, 2017 08:10 PM
Rainmaker
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Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co. Notary Services, retired Realtor

I don't remember this happening after our flood in 2011 but I can tell you that you can expect a lot of  unpleasant surprises with FEMA.

Aug 31, 2017 06:26 PM
Rainer
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Christine Kankowski North SD and Temecula
House Match Inc - Poway, CA
Excellent Sales and Property Management

Yikes, that does make sense though, at least the part abou the re-appraisal.  I wouldnt think the disaster needs to be closed, since this one will be a while.  Some houses have not been affected like others so the deals shoul dbe allowed to go through.   Best of luck with the recovery and all the work ahead. 

Aug 31, 2017 06:26 PM
Rainmaker
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Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

Looks like John Meussner has this one covered for you.  I cannot get my mind around the magnitude of the devastation.  The impact is not measurable.  

Sep 01, 2017 07:49 AM
Rainmaker
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Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

You have many answers here

Sep 01, 2017 05:31 AM
Rainmaker
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Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

I would have no  idea how long it will take FEMA to declare the disaster closed.  

 

Sep 01, 2017 03:59 AM
Rainmaker
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Dave Martin (703) 585-4687
Fairfax Realty - Fairfax, VA
Making Realty Dreams a Reality #WeWillGetYouHome

 Maybe this FEMA URL might be a good place to start so you can find out?

https://www.fema.gov/hurricane-harveyhttps://www.fema.gov/hurricane-harvey

Aug 31, 2017 08:47 PM
Rainmaker
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William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Many many issues for buyers and sellers are on the horizon

Aug 31, 2017 08:22 PM
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Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

We went through this several years ago. It didn't matter if the property had been affected or not, the appraiser had to assure the bank that the asset was still sound. Some areas lost value and we had to start over. 

Aug 31, 2017 08:13 PM
Rainer
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Anna Hatridge
R Gilliam Real Estate LLC - Farmington, MO
Missouri Realtor with R Gilliam Real Estate LLC

So sorry you all are dealing with this devastating flooding.  I cannot even imagine what you will be dealing with over the coarse of the next year or two.

Aug 31, 2017 07:52 PM
Rainmaker
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Sybil Campbell
Long and Foster REALTORS® 5234 Monticello Ave Williamsburg, Virginia - Williamsburg, VA
REALTOR® ABR, SFR, SRES Williamsburg, Virginia

I'm so sorry for what you are going through, best wishes and please keep safe.

Aug 31, 2017 06:41 PM
Rainmaker
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Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

We wish you the best with everything! 

Aug 31, 2017 06:36 PM
Rainmaker
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Debbie Gartner
The Flooring Girl - White Plains, NY
The Flooring Girl & Blog Stylist -Dynamo Marketers

You have some good answers here.  After Sandy, I believe ALL homes in the area needed a reappraisal and/or reinspection, even if no visible damage.  I've never heard of the need for disaster to be "closed" and not sure what that even means...and that could be months or even years.

 

Here, after Sandy, most roads were not even driveable 1-2 weeks (and major gas shortage with lines for 3-4 hrs).  One of our big issues was power and many areas did not have power for 2 weeks.  (This made it hard to find working gas stations).  And, of course without power, inspections as well as most clean up and/or repair can't start.

 

Also, be aware that in some areas, there may be major implications on insurance in addition to property values and/or the 2 can become intermingled.  This happened for a bunch of areas around the coast, and more so in Queens and on Long Island where they were harder hit.

I'm so sorry for you guys and your clients.  Of course there's all the immediate issues, but there's also a ripple effect on many businesses and that can last a long time.  Even for my flooring business, it was challenging.  Many projects that we were supposed to do either got postponed or canceled as customers had to dedicate money towards tree damage and roof repair and/or had to take family in from Long Island.

 

The other part that's tricky is that for those that had issues, and were covered by insurance, there were often long delays in getting insurance approvals as there were so many claims.  So the sooner someone files, the sooner they'll get things resolved. (once roads are passable).

Sep 01, 2017 11:13 AM
Rainmaker
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Barbara Todaro
RE/MAX Executive Realty - Retired - Franklin, MA
Previously Affiliated with The Todaro Team

John Meussner gave a detailed answer.... sorry for your horrible situation....

Sep 01, 2017 08:45 AM
Rainmaker
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Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

John Meussner gave you the answer.  

Sep 01, 2017 07:04 AM
Rainer
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d.Diane Sanders
Sanders Family Real Estate - Houston, TX
d. Diane Sanders

Thank you all so much.  I still can't seem to find 'how long' it could take FEMA to 'end or close' the disaster.  I guess we just sit back and wait.  I am wanting to give our clients some idea of the timeline for re-appraisals - days or weeks.  It seems like after our last one that it was only a day.  It may be with stil rising waters, FEMA is holding off.  Thanks again, everyone.  

Sep 01, 2017 07:03 AM
Rainmaker
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Chuck Mixon
The Keyes Company - Cutler Bay, FL
Cutler Bay Specialist, GRI, CDPE, BPOR

This  is a great example of how AR can benefit us all. When we come together as a community and share our common knowledge. Great work Community and AR.

Sep 01, 2017 06:01 AM
Rainmaker
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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

Theo Shaw nailed this one!

Sep 01, 2017 03:13 AM
Rainmaker
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Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

Wow, glad you are safe. Please post about your experiences there, we can all learn from this.

Aug 31, 2017 10:14 PM
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Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Major challenges for buyers, sellers, appraisers, inspectors and lenders for sure...for a long time. No doubt some homes that were "sold" are destroyed.

Aug 31, 2017 10:11 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

I suspect that is will be a long time before things are back to normal.

Aug 31, 2017 09:52 PM
Rainmaker
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Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Fascinating cause and effect in play here....Lets find out d.D

Aug 31, 2017 06:53 PM
Rainmaker
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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

I cannot even imagine having transactions ready to close, and now are flooding, no power, etc.   

Sep 04, 2017 10:55 AM
Rainmaker
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Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

I am sorry for your business, I hope some New Orlean people can answer their experience from the past.

 

Sep 03, 2017 08:23 AM
Rainmaker
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Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West & Lend Smart Mortgage, Llc. - Carlsbad, CA
Presence, Persistence & Perseverance

Unfortunately the 'wheels of progress in the government bodies do turn very slowly and only at the government's pace. 

Sep 02, 2017 02:41 PM
Rainmaker
1,279,292
Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi
NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 - New Lenox, IL
708.921.6331 - 40+ yrs experience

I will defer to John Meussner's experience with a disaster of this magnitude.  He is absolutely right when he says that an appraiser will need to be sent out again ... as Fannie, Freddie, VA .. whoever ... will demand that it be done.   I would be surprised if the appraiser will not want some sort of verification that it's safe to re-enter the property too.  

I think much will depend on the specific area in which the property is located.  One area may see slower or quicker return to business/appraisal capability than another based on how quickly the flooding/damage allows it.   I fear you may be feeling your way as you go with this to some extent. Best of luck to you and your clients ... be safe ... and know that you remain in my thoughts and prayers ...

Gene

Sep 02, 2017 12:40 PM
Rainmaker
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Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

That I don't know.  The last time we had a natural disaster that qualified for being declared a disaster area, the powers that be lied about the magnitude of the earthquake to keep it under the disaster declaration limit.  Had to do with a huge tax break you get in those federal disaster areas.

Sep 02, 2017 11:30 AM
Rainmaker
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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

Sorry, but I have no clue.

Sep 02, 2017 06:22 AM
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

d.Diane Sanders - thanks for your question. Learning from the other member's responses - thanks, John Meussner.

Sep 01, 2017 10:10 PM
Rainer
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Caroline Gerardo
Sun West Mortgage Corporation - Newport Beach, CA
C. G. Barbeau the Loan Lady nmls 324982

FEMA is not the determining source. Appraiser is boots on ground. Some areas the water receded, some may still see rising water. condition of subject the day before closing is what matters. You are in my prayers. If you need help please ask. 

Sep 01, 2017 04:28 PM
Rainmaker
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Richard Bazinet /MBA, CRS, ABR
West USA Realty - Scottsdale, AZ
Phoenix Scottsdale. Sellers, Buyers & Relocations

Don't know how long this takes but I would not hold my breath - I'd go long on this.

Sep 01, 2017 08:07 AM
Rainmaker
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Roy Kelley
Realty Group Referrals - Gaithersburg, MD

I would need to contact my trusted mortgage lenders for advice on this.

Please share some of your recovery experience in your blogs.

Sep 01, 2017 07:11 AM
Rainmaker
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Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Wow, it is going to be an interesting period of time!

Sep 01, 2017 06:22 AM
Rainmaker
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Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

Hopefully the homes not affected will be allowed to close. It is nice to see the water going down, now comes the hard work. 

Sep 01, 2017 05:45 AM
Rainmaker
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Wayne and Jean Marie Zuhl
Samsel & Associates - Clark, NJ
The Last Names You'll Ever Need in Real Estate

I'm sorry you're going through this and I wish I knew the answer to your question!

Sep 01, 2017 05:27 AM
Rainmaker
1,937,593
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

This is also going to be a short term economic disaster ! KW Cares is sending money to our 4,200 agents affected by this !

Sep 01, 2017 05:15 AM
Rainmaker
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Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Good luck.

Sep 01, 2017 05:08 AM
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Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

Makes sense to reappraise.

Sep 01, 2017 03:38 AM