Thougts on buying in Flood zone AE - St Pete, FL? (landlords, price)
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I used to live several blocks to the south of where you are looking. My personal experience, living there 5 years, is the conditions for flooding on the bay side of Pinellas County depends on a few factors: What type of storm, what direction the storm is heading, and duration of the event. Yeah, it sounds obvious because it is.
Often storms come from the gulf side, meaning they cross Pinellas from west to east. Winds push the water in that direction, so flooding in the place you are looking is less likely - water would be pushed away from you.
HOWEVER, if a storm runs up the coast and pushes water into Tampa bay itself, from the south to the north, you're f'ed. Water in the bay has nowhere to go but up onto land. THAT is why the property is in a bad flood zone.
I have driven through those exact streets. Most of those homes are older and not built elevated. Newer homes require to be built up 15'. According to that website, that house has 1'.
IF a large storm comes in and pushes water into the Bay, that house will likely flood.
Now, here is a secondary condition that people might miss. The storm water drainage system takes the surface water from a storm, drops it into the drainpipes, then slopes it to drain into either the Bay or the gulf, depending on what side of the county. When the Bay or gulf water level is elevated, due to storm surge and intense rainfall, those drainpipes can become underwater. That means they won't drain. That means flooding because the water has nowhere to go.
Low lying areas, like this house, will be among the first to flood - IF all conditions are bad.
We had a house that was newer and elevated. During a tropical storm the road in front of our house flooded, but not our house and not even the lower neighbors houses. We just had intense rain for a couple days (at one point I think we had 5" per hour), not a hurricane, not an extended event. I could easily see a major event - cat 2+ hurricane coming right up the coast into Tampa bay, slow and dumping tons of water - wiping out the house you're looking at.
How likely is that? No way to know. Like said, most storms come from the west to the east. Storms that come from the east have to cross the width of Florida to get to Tampa. Yes, it could happen.
We were paying about 1,200 a year for flood insurance. But we did have a newer, elevated home.
And Snell Isle always floods. I don't know what it is - topography or poor drain infrastructure - but even just a tropical storm floods that isle. So don't go by what happens on Snell.
Had a house in Gulfport not far from St. Pete. Every summer we sweated from both the heat/humidity and the Hurricane map. Got grazed by one, damage to trees but not house (other neighbors not so lucky). Off power for 5 days (not fun). We were in AE but water never go to our home, but close enough.
Have relatives living near near Hurricane hit in Panhandle a few years ago....they and everyone else up there STILL dealing with insurance adjusters, trying to find honest contractors....it never ends. Once they got house fixed they will sell and never return to FL.
Sold and happy we did....no longer need to have National Weather Service app on phone. Will never return to FL or to any Gulf or Atlantic coasts.
fyi to OP---you may want to ask mods to move this to Tampa Bay forum???
Separate from the Flood Zone designation is the Evacuation Zone. This house is in evacuation zone A, meaning the most likely to be evacuated after mobile homes.
You will need two type of home insurance. Regular homeowners and separate flood insurance. Two separate policies.
I'd be worried about a few things; probable ever-increasing rates for flood insurance, chances that a redraw of the flood map would put it in a higher category of risk, i.e. higher rate or uninsurability and then the actual risk of flooding with water levels on a steady multi-decade rise. AE zone has about a 1 in 4 chance of flooding during the life of a 30 year mortgage. We had our 100 year flood in 2008 in Brevard County from a weak stalled tropical storm, Fay. I think we got over 36" of rain in less than 36 hours. The trend for all of Florida is for more flooding events.
This house hunt is brutal, and I feel like I keep finding homes that are close, but with a major hangup....
Yesterday we looked at a home, while on the small side, we really liked. Good location, great yard. Amazing school zone. The kind of thing we would want to start with. Problem is it is listed as zone AE(9)...
Reading this board, I see 6-7 year old posts about his insurance will eat you alive, but I really want to know the reality of that. The owner says they are only paying 1200, yet I see people talking about 5k+ quotes, and a 25% yearly hike..
We are trying to get the elevation certificate, as I need that for a quote, but have been told we can't get it unless the offer is accepted.
I am not rich, and this house is higher on the budget. We already made an offer (10k over), but I know we can retract it. I am just si conflicted. Is insurance going to crush us?
I called my insurance agent before we bought a home and got a quote. It's definitely high but I found the increase in the car insurance to be substantial as well. I wouldn't listen to the seller. Seller's agent in our deal told us homeowner's insurance would be 1/3 of what it really was. Do your own research. Many companies won't even write in that area.
I called my insurance agent before we bought a home and got a quote. It's definitely high but I found the increase in the car insurance to be substantial as well. I wouldn't listen to the seller. Seller's agent in our deal told us homeowner's insurance would be 1/3 of what it really was. Do your own research. Many companies won't even write in that area.
This brings up a couple of issues related to Florida if you're from outside the area:
1.) Florida's auto insurance is a "no fault" system, meaning everyone pretty much shares the costs. It's hovering around the 10th highest state for car insurance. You can't avoid the costs, the basic liability and PIP is pretty much the same no matter what the vehicle. The variables are the additional coverages like collision and comprehensive.
2.) Florida's hometoner's insurance market is extremely volatile. None of the "majors" underwrite homeowner's policies here that I know of. They have separate companies licensed to sell in the state to limit their exposure. Homeowner's insurance can be really expensive, and a lot of that hinges on the age of the house and the condition of the roof. A lot of insurers won't write a policy on a house with an older roof.
One of the homes I own is roughly 20 years old, has a new roof, and is around 2400 sf. Homeowner's insurance is about $1700/year, but I continue to hear complaints from friends and neighbors that their insurance costs have started to increase.
Do your due diligence and don't take anyone's word for things. If you do you're going to get sucker punched when you can't do anything about it.
I'd be worried about a few things; probable ever-increasing rates for flood insurance, chances that a redraw of the flood map would put it in a higher category of risk, i.e. higher rate or uninsurability and then the actual risk of flooding with water levels on a steady multi-decade rise. AE zone has about a 1 in 4 chance of flooding during the life of a 30 year mortgage. We had our 100 year flood in 2008 in Brevard County from a weak stalled tropical storm, Fay. I think we got over 36" of rain in less than 36 hours. The trend for all of Florida is for more flooding events.
Excellent points. A low percentage of the redraws work in your favor... unless you are in the insurance business...
Man.. I don't get how people manage this home buying stress. This market is soul crushing.
Hearing everyone flat out say no just yet again, takes the wind out of my sails. I really do wo Der how so many homes here work if flood insurance is this big a problem though... half the county is listed as AE...
I already can't best every single offer being in cash as it is... I just want to give up
Man.. I don't get how people manage this home buying stress. This market is soul crushing.
Hearing everyone flat out say no just yet again, takes the wind out of my sails. I really do wo Der how so many homes here work if flood insurance is this big a problem though... half the county is listed as AE...
I already can't best every single offer being in cash as it is... I just want to give up
Right now, Tampa bay housing is overpriced and still rising. My niece has been looking for half a year and gets outbid every time. My own house, which I bought 2 years ago, has increased in value by about 100k if I were to sell it at today's market. It's not really worth that much more, it's just prices are insane right now.
Right now, Tampa bay housing is overpriced and still rising. My niece has been looking for half a year and gets outbid every time. My own house, which I bought 2 years ago, has increased in value by about 100k if I were to sell it at today's market. It's not really worth that much more, it's just prices are insane right now.
It's a terrible time to buy, frankly.
Yeah, that's what we are dealing with. All these offers of cash only, waived contingency, and 30k over an already inflated asking price is just brutal. Even worse, it's really taking a toll on my relationship, which makes me.feel even crappier..
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