Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I don’t know the statistics but being in Florida, there are tons of inland properties that are in a flood zone. When I had my RE license, my broker harped so much on the cost of flood insurance and making sure to check every single property that clients consider and also make sure to be honest in listings about it so potential buyers would know ahead of time. It’s not just the coastlines!
And why are we cheering yet another rising cost? And, one that must be paid to the govt?
I don’t know the statistics but being in Florida, there are tons of inland properties that are in a flood zone. When I had my RE license, my broker harped so much on the cost of flood insurance and making sure to check every single property that clients consider and also make sure to be honest in listings about it so potential buyers would know ahead of time. It’s not just the coastlines!
And why are we cheering yet another rising cost? And, one that must be paid to the govt?
NFIP premiums are usually paid to commercial insurance companies in my experience. We've been paying to Allstate for 15 years, even though Allstate doesn't provide our regular homeowner's policy.
The premium money ends up with the government, but that's because the number of commercial companies that will write flood insure is very small, and I think they only insure house on tops of mountains against flooding. The government is stepping in because commercial companies would be charging far more to insure against flood, even if they decided to provide the insurance.
How many events are needed to be meaningful, the earth has warmed over 1 deg C over the last century, more moisture in the atmosphere, more sea level rise, more severe moisture events. That’s science not bunk unless you can provide a scientific source other than Ireland freezes.
I don’t want to make this into a climate change thread but if you have a scientific source that indicates sea level rise isn’t an issue with coastal properties I would like to see it.
This is something we can see with our own eyes, though. Being in Florida, I’m never more than an hour and a half from a beach. I grew up here and the beaches are the same as when I was a kid. Miami is much the same as it was when they dredged it 100+ years ago to start developing it (Coral Gables, for example).
The mumbo jumbo put out by scientists is never definitive nor absolute. Just “we need to take action now!” Okay…do what you want but Miami is not falling into the sea anytime soon (say, 2030 when all the alarmists say it will all implode). What about islands like Cuba? It spells catastrophe for them if this is true (which it’s not).
Now I'm not against a higher flood insurance rate if the property in question is an investment property or not someone's primary residence, but if the property IS our primary residence, then our rates should not be jacked up.
So you think that cost should be passed along to the renters then?
I would charge 20% of the house value, per-year, for flood insurance.
Now a crawl-space house can be raised higher. Similarly, a house on top of a full basement can be raised higher.
But a two-story house, on a slab foundation, can replace lower-level lumber wall studs with 2-by-2 304L square-tubes. Then the house will not be weakened by lower-level flooding. Also, move the kitchen upstairs so that use of the house is not lost. The lower-level becomes a rec-room without sheet-rock covered walls. A 20' length of 304L tube makes two wall studs. Then 2 by 2 by 11 gauge is less expensive than 14 gauge. https://www.metalsdepot.com/stainles...SABEgKzfvD_BwE . That's about $318 per wall stud which is about double the price of a couple of years ago. Consider the force of flood waters and bolt the 304L tube to both the slab foundation and to the overhead floor joist. So weld a 304L mounting plate to the bottom of the 304L tube and weld a 304L L-angle to the top of the 304L tube
.
Why not 200000000000000000000000000 percent higher?
Just odd that you pull some random number out of nowhere and then get really specific about other aspects.
Guys like me that calculate the flood insurance (minus political intervention) are very detailed, just like you were in the latter part of you post.
That politicians decided to ignore, politicize or otherwise giantly deficate upon reality does not change reality.
This is something we can see with our own eyes, though. Being in Florida, I’m never more than an hour and a half from a beach. I grew up here and the beaches are the same as when I was a kid. Miami is much the same as it was when they dredged it 100+ years ago to start developing it (Coral Gables, for example).
The mumbo jumbo put out by scientists is never definitive nor absolute. Just “we need to take action now!” Okay…do what you want but Miami is not falling into the sea anytime soon (say, 2030 when all the alarmists say it will all implode). What about islands like Cuba? It spells catastrophe for them if this is true (which it’s not).
So you must understand that a spring tide doesn't refer to a time of year, right? And you must know that parts of Miami flood whenever there is a spring tide now, right?
So you must understand that a spring tide doesn't refer to a time of year, right? And you must know that parts of Miami flood whenever there is a spring tide now, right?
All kinds of places flood at all sorts of times.
I get some flooding on my property when we get a heavy rain but we are so sandy here that it lasts no more than 10 minutes before it all drains. My house will never be at risk, either. We will be planting bananas in that area actually.
The issue with flood insurance is that in order to mitigate risk, they make you get it if any part of your property is in a certain flood zone category, even if there are no structures there and never will be. My friend was looking at acreage and there was one tiny corner that was part of the flood zone that comprised most of the adjoining parcel. People do not want to spend the money for that so those lots end up going to developers who can afford to pay, and they often put in multi family housing with tons of concrete. No chance of quick drainage in that case. My bananas are obviously a much better option.
I currently am watching new student apartments (a second set) going in in the floodplain of the Hogtown Creek in Gainesville (smack in the middle of the state, and hour to hour and a half from either coast). That place will be an asphalt jungle with 3-4 stories of 2 bedroom apartments (just guessing based on others in the area). Really freaking stupid. They have been building on literal swamp here for over a century.
I get some flooding on my property when we get a heavy rain but we are so sandy here that it lasts no more than 10 minutes before it all drains. My house will never be at risk, either. We will be planting bananas in that area actually.
The issue with flood insurance is that in order to mitigate risk, they make you get it if any part of your property is in a certain flood zone category, even if there are no structures there and never will be. My friend was looking at acreage and there was one tiny corner that was part of the flood zone that comprised most of the adjoining parcel. People do not want to spend the money for that so those lots end up going to developers who can afford to pay, and they often put in multi family housing with tons of concrete. No chance of quick drainage in that case. My bananas are obviously a much better option.
I currently am watching new student apartments (a second set) going in in the floodplain of the Hogtown Creek in Gainesville (smack in the middle of the state, and hour to hour and a half from either coast). That place will be an asphalt jungle with 3-4 stories of 2 bedroom apartments (just guessing based on others in the area). Really freaking stupid. They have been building on literal swamp here for over a century.
Move west of US19 in Usher and leave the crowds behind.
This is something we can see with our own eyes, though. Being in Florida, I’m never more than an hour and a half from a beach. I grew up here and the beaches are the same as when I was a kid. Miami is much the same as it was when they dredged it 100+ years ago to start developing it (Coral Gables, for example).
The mumbo jumbo put out by scientists is never definitive nor absolute. Just “we need to take action now!” Okay…do what you want but Miami is not falling into the sea anytime soon (say, 2030 when all the alarmists say it will all implode). What about islands like Cuba? It spells catastrophe for them if this is true (which it’s not).
Many streets in Miami flood when there is a full moon or heavy rain, some are impassible. Pumps have been installed over the last decade and they are raising roads a few feet so yes it has definitely changed, it doesn't have to fall into the sea to have a devastating impact.
If you are in real estate then you understand that a large percentage of properties are at risk.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
