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Old 09-26-2013, 06:23 PM
 
Location: Hernando County, FL
8,488 posts, read 17,895,722 times
Reputation: 5397

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So it looks like about 5% of the homes in the county will be affected by having to pay market rate rather than subsidized insurance. I really don't foresee there being as big an issue as some are making it out to be, the future sales prices will adjust to the carrying cost of these homes. You have to pay the price to live by the water.
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Old 09-26-2013, 06:26 PM
 
Location: Spring Hill Florida
12,135 posts, read 13,210,924 times
Reputation: 6009
More precisely, the entire state was completely submerged at one time.
It was ocean floor.


Quote:
Originally Posted by fiege1224 View Post
Almost the whole state was a swamp at one time. But we pay almost 40% of all femas policies and for every dollar they collect from us they have only had to pay out 24 cents back to us over the years. Florida is a cash cow for these crooks. It is about to get a lot worst soon. I think it is going to back fire on them this time.
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Old 09-26-2013, 06:30 PM
 
4,817 posts, read 3,465,411 times
Reputation: 2856
Quote:
Originally Posted by CHASLS2 View Post
There are two members on here that keep sticking their head in the sand when it comes to west Pasco.

Read the 100's of post about what others think compared to the two that keep painting a perfect pic and do the math my man.
Hillsborough county has the new maps up on a searchable website
GIS (Geographic Information Systems) - Hillsborough County, FL


I think you are already seeing people either backing out of deals at the prospect of higher premiums or rushing to close on deals so they only get the 25% increase as opposed to the full unsubsidized amount.
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Old 09-26-2013, 06:57 PM
 
13,572 posts, read 9,245,856 times
Reputation: 4361
Quote:
Originally Posted by DUNNDFRNT View Post
Hillsborough county has the new maps up on a searchable website
GIS (Geographic Information Systems) - Hillsborough County, FL


I think you are already seeing people either backing out of deals at the prospect of higher premiums or rushing to close on deals so they only get the 25% increase as opposed to the full unsubsidized amount.
But that 25% is not only for the first year, it keeps going up that rate for each and every year until the Gov thinks we are paying a fair price.

Last edited by Sunscape; 09-27-2013 at 04:59 AM..
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Old 09-26-2013, 07:45 PM
 
518 posts, read 1,041,911 times
Reputation: 213
Quote:
Originally Posted by Spring Hillian View Post
More precisely, the entire state was completely submerged at one time.
It was ocean floor.
I don't think anyone was buying insurance when it was long ago underwater. But then again people are still buying homes in Spring Hill area which is one of the sink hole capital areas of Florida with sky high insurance rates for that now. So maybe they did when it was underwater.
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Old 09-26-2013, 08:08 PM
 
Location: Spring Hill, Florida
3,012 posts, read 4,836,194 times
Reputation: 3274
And there it is... Took longer than I expected.

We aren't getting federal subsidies to help with premiums and the rates aren't nearly as high as these flood rates that are being discussed.

Last edited by HWTechGuy; 09-26-2013 at 08:19 PM..
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Old 09-26-2013, 08:22 PM
 
Location: N.H Gods Country
2,359 posts, read 4,480,076 times
Reputation: 1973
Quote:
Originally Posted by fiege1224 View Post
I don't think anyone was buying insurance when it was long ago underwater. But then again people are still buying homes in Spring Hill area which is one of the sink hole capital areas of Florida with sky high insurance rates for that now. So maybe they did when it was underwater.
I have a good friend who is a realtor there. She said things are still pretty slow. But your right about the sinkholes. That area seems to have more than it's share of sinkholes. A buddy of mine drives for a redi-mix outfit in Hudson and he said that if it wasent for the mix that they pump into those sinkholes a lot of those concrete places would have closed up a long time ago.
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Old 09-26-2013, 09:07 PM
 
1,106 posts, read 1,947,619 times
Reputation: 954
Quote:
Originally Posted by DUNNDFRNT View Post
I think you are already seeing people either backing out of deals at the prospect of higher premiums or rushing to close on deals so they only get the 25% increase as opposed to the full unsubsidized amount.
Quote:
Originally Posted by CHASLS2 View Post
But that 25% is not only for the first year, it keeps going up that rate for each and every year until the Gov thinks we are paying a fair price. Ever since Obama took office things have gone down hill, forced healthcare and now this mess.
Nope. It's even worse.

If you close on a house before Oct 1, 2013, it may go up 20-25% that first year, but will go up to the full cost the second year. Any home purchased after Oct 1, 2012, loses the subsidy after Oct 1, 2013.

You are only delaying the inevitable a year.

I live on the water, but I'm not wailing and gnashing my teeth as much as every one else. My rates are so grossly subsidized (by thousands of dollars per year) that a 20% increase every year is only a $300 per year increase. I can absorb that for a long time.
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Old 09-27-2013, 03:22 AM
 
Location: Rheinland-Pfalz, Germany
693 posts, read 957,227 times
Reputation: 611
I dont understand what the whole brewhaha is about, if you buy a home on the water why do you think anyone should subsidize your choice to do so. I bought a home and part of my consideration of where to buy was flooding and the potential for a hurricane, I just caution over water view but if I chose water view then I have to pay up!
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Old 09-27-2013, 04:20 AM
Status: "Brexit bound" (set 3 days ago)
 
3,623 posts, read 1,986,692 times
Reputation: 5215
Quote:
Originally Posted by bavariantransplant View Post
I dont understand what the whole brewhaha is about, if you buy a home on the water why do you think anyone should subsidize your choice to do so. I bought a home and part of my consideration of where to buy was flooding and the potential for a hurricane, I just caution over water view but if I chose water view then I have to pay up!
Well said.
My home is on the water.It's been there 40 years and never flooded.If it does I'll just clean it up,put in some new dry-wall,replace what I didn't manage to take upstairs and take it on the chin.
Insurance companies prey on human nature and its insecurities and fears of what might happen but very rarely does.
If you're that worried about hurricanes and tidal surges go and live in the desert.
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