What are the implications of living on a FEMA Floodplain?

[UTSpinks]

Point taken about the flooding in 1975, my intention was not for anyone to take the matter lightly just to throw out some extra information to the original poster. My figures on the 1 to 3 feet of floodwater came directly from the FEMA floodmaps base flood for zone AE(100 year), if you check back to '75 I'll bet the storm event had a 500 year or more recurrance interval. I also noticed that in my haste I added percentage signs to the probabilities that I gave which is incorrect. The correct statement from my previous post would be... the true meaning of a 100 year flood is - a flood that has a 1 in 100 or .01 probability of happening in any given year. Translated to a percentage that is only 1%, glad to see you read what I meant rather than what I wrote. However, I still don't think you see exactly what I am talking about in the matter. 100 year in no way implies that there is a 100% chance for the event to happen in 100 years... so not exactly six of one half a dozen of another. In other words there may not be a 100 year storm for 500 years, then in a period of one week there could be five 100 year storms, it's all probability and statistics (sorry if I sound like I'm harping on this but I do this for a living). Here is a link to the USGS that explains it a little more completely if anyone is at all interested Floods: Recurrence intervals and 100-year floods

Peace

[scottv]

Thanks for all the info guys! I got a lot more than expected! love the internet, ha.

[alleycat]

Originally Posted by UTSpinks

Point taken about the flooding in 1975, my intention was not for anyone to take the matter lightly just to throw out some extra information to the original poster. My figures on the 1 to 3 feet of floodwater came directly from the FEMA floodmaps base flood for zone AE(100 year), if you check back to '75 I'll bet the storm event had a 500 year or more recurrance interval. I also noticed that in my haste I added percentage signs to the probabilities that I gave which is incorrect. The correct statement from my previous post would be... the true meaning of a 100 year flood is - a flood that has a 1 in 100 or .01 probability of happening in any given year. Translated to a percentage that is only 1%, glad to see you read what I meant rather than what I wrote. However, I still don't think you see exactly what I am talking about in the matter. 100 year in no way implies that there is a 100% chance for the event to happen in 100 years... so not exactly six of one half a dozen of another. In other words there may not be a 100 year storm for 500 years, then in a period of one week there could be five 100 year storms, it's all probability and statistics (sorry if I sound like I'm harping on this but I do this for a living). Here is a link to the USGS that explains it a little more completely if anyone is at all interested Floods: Recurrence intervals and 100-year floods

Peace

I understand. We we are talking about "odds", not what will actually happen. But anyway, we're pretty much on the same page about that (by the way, I used to help prepare assessments for the Corp of Engineers, including one for Riverfront Park in Nashville). The big point I think is to be extra careful building or buying in a floodplain. And, just like in New Orleans, someone can't always count on the Corp's dam and locks to be fail-proof.

[UTSpinks]

Yes, the big point is to be careful and to make sure and have flood insurance if you own a home in an area that has a good chance of flooding. All you have to do is look at how many people in Louisiana and Mississippi have lost everything and are being denied claims because they didn't have the proper insurance. I would also speak to others in the area, preferably older established homeowners, and use their knowledge to help determine the risks of flooding where you are planning on building/moving.

[alleycat]

Another, somewhat separate issue about flooding in the Nashville area is that some areas that didn't flood before now do because of development which allows for quicker run-off. I know at one time there was a big problem with Mill Creek every time we had a big rain. I'm not sure whether that problem was ever solved or not; I don't think I hear about Mill Creek as much as I did a few years ago. Maybe the Corp dredged it; I'm not sure.

I live out near the Harpeth River. After a particularly heavy rain it will come up several feet, but then quickly recede after the rain stops. It used to be they would sometimes close Old Harding Road in the morning because water would be over the roadway and by afternoon the water was back within the banks of the river.

[Edgewood39]

Hmmm just reading through these posts and figured I would put in my two cents.
Is alot of this statics? yea, but weather events have been growing worse and worse over the years and development is at an all time high.

If you have a mortgage or are going to buy a home and acquire a loan through a regulated lender they will be required to have a standard flood hazard determination performed. This document will inform the lender whether they will need to make flood insurnace a requirement for the loan.
But because these are issued to lenders for "their" insurance requirements, it will not tell a home owner whether they are completely surrounder by a special flood hazard area, five feet from a special flood hazard area or 5,000 ft from one. Also there are inherant inaccuracies in the Flood Insurance Rate Maps; some due to their age or information used to make them that can make it so the home owner may not be getting a clear picture of the situation.
I would recommend that if anyone has questions about how close they are to a flood zone or their actual risk of flooding they should visit their local floodplain administers office or the local planning and zoning departments.

Statistically speaking
A home has an approximate 26% chance of being damaged by a flood in the course of a 30 year mortgage, compared to damage from a fire which would be approximately 9%.

Currently approximately 25% to 30% of homes damaged by a flood are outside of the designated Special Flood Hazard Area.

Also the actual definition of a flood is not what most would think it is. It is defined by the NFIP as:

"A general and temporary condition of partial or complete inundation of two or more acres of normally dry land area or of two or more properties (at least one of which is the policyholder's property) from:

• Overflow of inland or tidal waters; or
• Unusual and rapid accumulation or runoff of surface waters from any source; or
• Mudflow; or
• Collapse or subsidence of land along the shore of a lake or similar body of water as a result of erosion or undermining caused by waves or currents of water exceeding anticipated cyclical levels that result in a flood as defined above."

So I hope this helps.

[Mike in TN]

I'm just bringing this thread back up because we just found out a home we're looking to close on at the end of this month is in an AE flood zone.

According to a government website, it looks like the annual premium on a policy might be about $500/yr.

Has anyone had to purchase flood insurance before? If so, what kind of rates did you pay? This amount of coverage we need would be to cover a $56K loan.

Thanks for any help or other insight.

[hml1976]

We owned a house in the lipscomb area of Green Hills about three years ago, in a 100yr flood plain. The major problem we had was that you had to have flood insurance and FEMA raised the rates every year, it was around $1500 a year when we moved in 2005. I shudder to think what they went up to after Katrina.

We were very lucky that we sold our house during the boom, otherwise I think it could have been a major problem to sell.

[planintomove]

Originally Posted by UTSpinks

Yes, the big point is to be careful and to make sure and have flood insurance if you own a home in an area that has a good chance of flooding. All you have to do is look at how many people in Louisiana and Mississippi have lost everything and are being denied claims because they didn't have the proper insurance. I would also speak to others in the area, preferably older established homeowners, and use their knowledge to help determine the risks of flooding where you are planning on building/moving.

Hi,

We're one of those MS families who were flooded by hurricane Katrine. Our dream house was 2 years old when Katrina hit. When we built the home, we consulted with surveyors, engineers, and the most recent flood plane map which, unknown to us, was outdated. Part of our 1.5 acres was in a flood plane but where we put the house was not. We live on a estuary where 2 rivers come together to meet the Gulf of Mexico..We built the house up 3 extra feet to be safe. ..Katrina hit and we had crashing surf up about 4 feet in the entire bottom floor of our house for about 8 hours. We lost almost everything we owned. NOW, they are updating the flood zones and guess what? Our house is now in a flood zone, even with building it up! Flood insurance is inexpensive, but doesn't cover everything and certainly doesn't cover the financial loss when you can't sell your house after flooding..

We would NEVER consider buying in a flood plane or even close to it!!

just thought I'd share my experiences..

[MontanaGuy]

I actually live in the area in East Nashville that someone had mentioned and I can see the Opryland complex across the river from my backyard. There's a fairly steep dropoff for a couple of blocks from my house to the river. I wouldn't buy a house that was right next to the river because the risk would be too great even if it is a rare event. I believe I'm over 90 feet above the level of the river which is far more than a flooding river will typically rise. We hear about floods happening when maybe there's 18 or 20 feet above normal levels. Nashville is very hilly in many areas and if there's a river nearby I'd want to be living at the top of one of them.