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Old 05-18-2014, 10:23 PM
 
159 posts, read 557,475 times
Reputation: 76

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We are looking at a house (will have mortgage) on Collingswood by O'hara on the water. I know this is a common question and have seen many posts saying "it's not bad", "it's insane", "it's going to go through the roof in 4 years", etc. I was wondering if anyone who is familiar with the area can give an a BALLPARK of what they see for flood insurance rates? Also, if anyone can recommend a good insurance agent in the area, I would appreciate it. Thank you.
Joe
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Old 05-19-2014, 12:59 AM
 
Location: Palm Island and North Port
7,486 posts, read 19,878,591 times
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Quote:
Originally Posted by kwiktsi View Post
We are looking at a house (will have mortgage) on Collingswood by O'hara on the water. I know this is a common question and have seen many posts saying "it's not bad", "it's insane", "it's going to go through the roof in 4 years", etc. I was wondering if anyone who is familiar with the area can give an a BALLPARK of what they see for flood insurance rates? Also, if anyone can recommend a good insurance agent in the area, I would appreciate it. Thank you.
Joe
Hi Joe,

Nobody on the forum can give a ballpark estimate because it's very specific to not only the neighborhood but the specific lot. My insurance is double what my neighbor behind me is. My home falls in a different zone. The other thing to take into consideration is the house itself-what year was it built, how old is the roof, windows, etc

Your best bet is to call an insurance company and get a quote. I highly recommend, Parquette & Assoc, Kim Wilson, 941-235-7776.
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Old 05-19-2014, 05:18 AM
 
Location: Port Charlotte, FL - Pasadena, People's Republic of Maryland
2,938 posts, read 2,826,336 times
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Joe,
Ask the seller (thru your agent, or course) if they have an elevation survey. Without it, you will not get an accurate, if any at all, flood estimate. Additionally, see when the house was built. The newer the house, the more likely it is to have a higher elevation.
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Old 05-19-2014, 06:03 AM
 
159 posts, read 557,475 times
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Thanks guys, I kind of realized that last night after posting. The house is in an 8ae zone (very high risk, minimum build 8' above) and from what I can find online is 9' 4" above sea level
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Old 05-19-2014, 08:17 AM
 
Location: Lemon Bay, Englewood, FL
3,113 posts, read 4,534,147 times
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Quote:
Originally Posted by kwiktsi View Post
Thanks guys, I kind of realized that last night after posting. The house is in an 8ae zone (very high risk, minimum build 8' above) and from what I can find online is 9' 4" above sea level
8AE is very common in the PC area. It's not as high risk as the coastal communities where 14AE and the VE (velocity) zones are present. If you want to be near the water, you will be in an AE zone. I'm in a 9AE zone, and my elevation is 9.8ft. I just received my flood renewal. $536. It went up $19 from last year.
Not sure what you're referring to about 9'4" above sea level. That's not the actual elevation of the home. You won't find that online anywhere. Only on the owner's elevation cert and/or the current flood policy will have that info.
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Old 05-19-2014, 09:17 AM
 
Location: New Jersey/Florida
5,426 posts, read 10,483,870 times
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Default Any agent who plagiarizes in this way is not qualified to represent anyone in a real estate transaction.

This information is what(we) are looking for. I would use any of the realtors that are helping (us) novice buyers who are unaware of information regarding the flood zones, government info, and the overall area. Keep up the good work as it is very helpful.
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Old 05-19-2014, 10:09 AM
 
15,308 posts, read 17,502,630 times
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Quote:
Originally Posted by kwiktsi View Post
Thanks guys, I kind of realized that last night after posting. The house is in an 8ae zone (very high risk, minimum build 8' above) and from what I can find online is 9' 4" above sea level
8ae isn't "very high risk" compared to V-zone. V-Zone is usually beachfront or bayfront or on barrier islands.
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Old 05-19-2014, 11:07 AM
 
159 posts, read 557,475 times
Reputation: 76
Thanks guys. As for the risk level, I believe it was on the fema site that they labeled it "very high risk", so just repeating what I read . The previous owner never did an elevation survey, but the realtor has a call in to an insurance agent to see if he can pull up to see if one has ever been done. If not, we'll get that taken care of as well.

The house was built in 99 and as such, should meet the 8' requirement, shouldn't it? If so, our neighbor is in the same zone, newer house than this, almost identical Sq ft, has 8 1/2 elevation and is about $550/yr for flood. Am I wrong to assume that they'd be similar based on all this?

In regards to the 9' 4" elevation, it was doing a Google search for the address with "elevation" in it and several hits showed 9' 4" or 9' 5" elevation, but when I clicked on the actual link, I couldn't see anything mentioning it again.
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Old 05-19-2014, 11:58 AM
 
11 posts, read 15,976 times
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We are in the same boat. We are puttingin an offer on a property 1 block from the harbor in an ae zone as well. It was built in the 50's. From what I see its elevation is 3'.
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Old 05-19-2014, 01:44 PM
 
159 posts, read 557,475 times
Reputation: 76
Quote:
Originally Posted by twinflames View Post
We are in the same boat. We are puttingin an offer on a property 1 block from the harbor in an ae zone as well. It was built in the 50's. From what I see its elevation is 3'.
Ouch, I don't even know what mine will cost yet, but from all I can see in my reading- yours is going to hurt .
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