Should You Worry About Your House Being in a Flood Zone?

Flood zones are land areas identified by the Federal Emergency Management Agency (FEMA). Each flood zone describes that land area in terms of its risk of flooding. To identify a community’s flood risk, FEMA conducts a Flood Insurance Should you worry about your house being a in a flood zone?Study. This study includes statistical data for river flow, storm tides, hydrologic/hydraulic analyses, and rainfall and topographic surveys. All of this information is used to create what is known as FIRMs (Flood Insurance Rate Maps). This is used to not only rate areas in terms of flood risk but also to determine the resulting flood insurance rates.

The important thing to remember however is that everyone lives in a flood zone-it’s just a matter of knowing whether you are in a more dangerous zone or a relatively low-risk zone. Another thing to remember is that buying a home in a flood zone (depending on the level) does not necessarily mean that it will flood…it is only a measure of the likelihood of the event.

Now to describe and define the three types of flood zones: In high-risk areas, there is at least a 1 in 4 chance of flooding during a 30-year mortgage. In moderate-to-low risk areas, the risk of being flooded is reduced but not completely removed. In these areas, it is not necessary to have flood insurance for your home but it is still recommended. There are also undetermined-risk areas. No flood-hazard analysis has been conducted in these areas, but a flood risk still exists.

So the question remains, should you worry about your home flooding? Floods are reportedly the most common natural disaster in the US and everyone can experience one in their home-owning career. Floods are not just limited to coastal areas or as a result of tropical storms. The unthinkable scenarios such as heavy snows melting, flash floods, Dams/levees (as in New Orleans during Katrina), or construction and development can all lead to flooding. Thus, everyone should think about and consider getting some type of flood insurance, especially if you live in a moderate to high-risk area. It is very important when moving to look up your area’s flood map and to adequately assess whether or not flood insurance is something you want to consider. The answer to the question is yes, you should be concerned enough to do some preliminary research and make an informed decision.

Now having armed you with this knowledge, go forth and learn more about flood zones…but only if you really want to!

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Buying Investment Property? Consider Florida

When buying investment property, one of the most important factors to consider is location. The better and more desirable the location, the more interest you will generate; as a result you will be able to charge your tenants a higher price and getFlorida Real Estate Invesment Properties the best return on your investment. A good location also ensures that your property will not be as affected by the ups and downs of the housing market. Florida has many great properties located in very desirable areas which will attract a great clientele.

There are many special attributes that make Florida a great place to live such as the fact that the sunshine lasts almost all year long, making it one of the best year-round vacation spots. The fact that it is home to many theme parks including both Universal Studios and Disney World makes it a great place for families to vacation. The attractions of Orlando have caught the eyes of over 50,000 British investors and other foreigners are now entering the market as well. The breathtaking scenery and numerous beaches accompanied by the best beach weather anyone can hope for makes Florida ideal for purchasing investment property.

Not only is the location great but the cities are thriving; there are numerous highly-populated cities in Florida which is another great reason to invest here. It is important to remember that Florida’s economy is primarily driven by tourism. In fact, central Florida sees over 49 million tourists annually and growing; Florida’s increasing popularity has pushed up the villa prices making villas and rental homes a great investment. Florida’s housing market has a longtime history of being one of the most profitable; known for being one of the fastest growing markets in the States, recent price rises include 36% in Naples and 28% in Orlando.

Finally, let us not forget that many important yearly events take place in Florida such as Bike Week in Daytona, NASCAR, Formula One, Grand Am and Motocross. These motorsports attract many fans from around the country. If you’re looking for a great return on an investment property, consider buying in Florida. Hope this information helped!

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How to Find the Best Real Estate Agent for You

Finding a realtor can be confusing, disheartening, and frustrating among other things. Here are a few simple rules to help you find the absolute best real estate agent for you and your housing needs:

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1.       Interview Several Agents

First, make sure you interview several agents. Depending on whether you are looking for a buyers agent or a sellers agent, there are different sets of questions you may want to ask. If you are looking for a buyers agent, be sure not to rush into signing the Buyer’s agreement form without first looking at properties together. The more agents you interview, the better your ultimate choice will be.

2.       Make sure they are Licensed

Make sure your agent has all the right certifications and licenses. Bear in mind that not all real estate agents are actually realtors (which requires a license). It can often be difficult to know what you’re looking for but look online for the state in which your agent/realtor is located and check the required licenses; these may include CRS (Certified Residential Specialist), ABR (Accredited Buyers Representative), and SRES (Senior Real Estate Specialist). Reviewing the license will also let you know how long your real estate professional has been in business.

3.       Obtain references

While references do not necessarily guarantee the best realtor for you specifically, they do create some familiarity with the realtor and their previous works and successes. If you have a friend, colleague, or family member that has recently dealt with a realtor, it does not hurt to ask them a few questions to learn more before making your decision. Real Estate Agents when asked should also be able to provide their own list of references that you can call to ask about the reliability of the agent.

4.       They should be online

A good agent must be online. Most home buyers in today’s market see their homes and prospective communities online for the first time. Your agent’s profile should include pictures with each house listed. Checking the online listings will give you a better idea of how busy your realtor is, whether or not they have been successful in the past, and will also let you know that you can contact your agent via email or other online methods. It also reassures you that your agent is up-to-date.

5.       Ensure your agent in Knowledgeable

Ask your agent questions about the neighborhood in which the house of interest is located. He/she should be able to tell you about the best schools, places of interest, and the potential negatives of the area. They should also be able to provide information about other homes for sale in the area off the top of their heads. This means that they really know the area and are good at their job. Another good trick is to ask where your agent lives. If they live and work in the same general location, they have an added advantage of having personal experience and will be more knowledgeable than someone from the outside.

6.       Experienced Agents

Find out if your agent is part-time or full-time. Do they have another job to concentrate on or is this their main livelihood? If they do work full-time, ask them how long they have been working full-time. This can give you an idea of how experienced your agent is. Newcomers will not be as seasoned as someone with years in the industry.

There are many other important factors when looking for a real estate agent to help you buy or sell a house and we have just covered a few of the most important points. Please bear in mind that ultimately, you want someone who you feel you will work well with, will be available to take your questions, and will fight to make you happy. No matter who you pick, you will be taking a risk but doing the research is a good way to make the best decision possible. Good Luck!

If you enjoyed reading this post you will find the main Mover’s Atlas site even more Interesting! There you can discover important information about what surrounds your current or future Florida home, give it a look: Mover’s Atlas.