Should You be Worried About Buying Property Near Petroleum Contamination Sites in Orlando

Unfortunately, petroleum contamination is extremely common in Florida and many other states.  In fact, if you turn on the Petroleum Contamination points on our MoveMap, you’ll see a pretty depressing sight.  The petroleum sites in buy a home near a petroleum contamination site in orlandoOrlando alone number in the hundreds.  This is a concern in Florida because in most of the state, groundwater is very close to the surface and it provides drinking water to around 90% of residents.  Fortunately, the Florida Department of Environmental Protection (FDEP) tracks petroleum releases and in some cases helps remediate (clean up) the sites.  In this post, we’ll talk a bit about how petroleum releases happen in Orlando, why they’re so common, and finally, what the implications are to you as a resident.

The reason so many sites can be seen on the MoveMap for petroleum contamination shouldn’t come as a surprise; it is simply because petroleum use is extremely common and accidental releases occur frequently.  A recurring cause of soil and groundwater contamination is leaking underground storage tanks.  Storage tanks are commonly found at gas stations but also exist near backup generators and other equipment. Since Florida is prone to hurricanes, backup generators are especially numerous here, and their fuel tanks do occasionally leak. Unfortunately, gas station and generator tanks can give out without anyone noticing for quite some time.  In such cases, gasoline or diesel fuel can drain out of the rupture point and contaminate soil and groundwater.  Factories, junkyards, mill sites, shipyards and transit stations can also be causes of petroleum contamination.  Accidental spills of gasoline, diesel, jet fuel and used oil contribute to the situation as well, though spills of under 25 gallons are not required to be reported to FDEP as long as the spill and affected soil are cleaned up immediately.  While the geographic area affected by oil contamination tends to be fairly constrained in the case of gas stations and other tank failures, the area contaminated by petroleum can be quite large in junkyards, factories and the like.

Depending on the nature of the soil and groundwater flow, the petroleum contamination may stay fairly contained within the site or expand out beyond the actual property boundaries.  Since gasoline and diesel fuels are lighter than water, they tend to “float” in the upper part of the water table.  Over time, the fuel will tend to move with the groundwater currents causing an elongated plume. While the results sound bad, the fact that petroleum floats is generally good news for Florida residents since most people on well water tap the Floridan Aquifer, which is very deep underground.  However, petroleum can and does occasionally poison drinking water wells, and chronic exposure to oil products can affect the nervous system, blood and kidneys.  Furthermore, petroleum contains benzene, which is a known human carcinogen.  So if there is a contamination point located near your home or a piece of real estate that you are considering buying and a well is used, it might be a good idea to get the water tested from time to time.

The state of Florida does operate a petroleum cleanup program, but it is complex and the details are outside the scope of this blog post.  Generally speaking though, once the government has identified an area which requires cleanup, it will either excavate the soil and process it to remove contaminants or place that soil in a landfill.  Contaminated groundwater may also be removed and processed before being re-released into the environment.  Depending on the nature of the site, groundwater monitoring equipment might also be installed.

Petroleum contamination is an unfortunate consequence of our modern standard of living and it does have implications for home buyers and renters in the Orlando area.  However, most petroleum contamination happens in commercial and industrial areas where people do not live.  In many cases therefore, it tends to be more of an environmental concern than a direct threat to human health.  Nevertheless, if you’re considering buying property close to a contamination site in Orlando Florida, it’s a good idea to get your well water tested.  To check out petroleum contamination in Orlando and other areas of Florida, have a look at our MoveMap over at www.moversatlas.com.

4 Things To Consider When Investing in A Rental Property

So you are looking to invest in a piece of rental property and the thought of that supplemental income sounds like it could really help out.  You buy a house, rent it out and someone else pays your mortgage and make a little extra.  Then after 15buying a rental property in florida or 20 years you have a paid for rental property that your renters paid off for you over the years.  The house has appreciated nicely so now your investment is worth 20-30% more then what you originally paid!  That’s what most people think of when they consider buying a rental property, however, it is not always that simple. Here are three things you should consider when looking to invest in a rental property:

1. Location – This must be considered as you are deciding the caliber of houses and tenants you are considering to rent to.  Keep in mind anyone can be late or delinquent on rent but it will be important not to purchase a highly expensive home in a very middle class neighborhood, nine times out of ten you won’t be able to get the amount of rent you are looking for to cover the expenses.  Also consider how far is it from your residence?  If you are planning on managing the property yourself it may not be the best idea to be the landlord if you live in another city state because if you can’t drive by on any given afternoon you to check up on everything or get there quickly to fix minor problems you are going to have to pay someone to do these things which could eat away at your profits.

2. Investment potential – Of course you want to charge as much money as you can for rent each month to to cover the mortgage and make a decent profit.  This equation seems easy enough but you need to investigate on a few things before you go off buying something cheap and trying to rent it for a ton of money.  Is there any rental history?  What are the properties expenses for insurance and taxes?  What are the home’s previous values?  Has anything major been replaced or repaired?  Is there an HOA? If so what are the HOA fees and how involved do they get in the yard upkeep and house conditions?  These questions will help you get a better idea of what you are in for and if there will be enough money at the end of the month to make it worth your while.

3. Upkeep – Okay you understand that if you buy a house with an old roof you will have to replace it at some point but what if you look at it a little deeper.  Try to consider the ongoing maintenance the property will need.  Think about how the landscaping is set up, are there hundreds of feet of fancy shrubs, landscape lighting, gardens? Is there a pool? All of these things cost money on an ongoing basis to keep functioning properly and looking nice. And these expenses aren’t just limited to the exterior of the house, the inside of the house is a whole other story. Wood floors can be damaged easily, walls can be scuffed up, carpets can get stained. Of course you have deposits that will cover some of these things but have to be prepared for the extra work and the headaches these issues cause.

4. Unexpected expenses – Lastly, it is extremely important that you factor in the costs of unexpected expenses. You never know when the A/C will break or when a pipe will burst and when something like this does happen it can be very expensive. Many people just hope for the best and pray nothing like this will happen to their rental property but this is a poor strategy. You need to plan ahead and make sure you have money budgeted and stored away for any unexpected expenses. This means planning a little more carefully and maybe taking a little bit of the rent you collect each month and putting it into and emergency fund. Also, you can reduce the risk of something like this happening by doing routine maintenance on all important and expensive items. Doing this may cost a little money upfront but could end up saving you in the long run.

These are just a few things to keep in mind when considering making an investment in a rental property. However, don’t let these things scare you away from buying a rental property because real estate is one of the greatest investments you can make but you just need to do it wisely.  Hopefully, you can take this information we provided you and use it to better prepare yourself for a successful rental investment.

If you are looking to by property in Florida make sure to take a look at the MoveMap on www.MoversAtlas.com to get detailed information on the neighborhoods, communities, and cities you are looking to buy real estate in!

Large Sinkhole Swallows Street and Threatens Homes in Spring Hill Florida

It’s scary to think you could find the perfect house and then realize there is something terribly wrong!  Normally the “big” items are caught during a home inspection and you either receive leverage on negotiating the house’s price or you have Sink hole opens up north of tampa in spring hill communitythe opportunity to walk away.

The only problem is when it happens to be a sinkhole it is difficult to predetermine the problem.  Sinkholes in Florida are much like floods or even hurricanes, you know if you live in an area that is prone to these “acts of God” but you cannot tell the future so you never know if or when a sinkhole will actually occur.  This is exactly what happened in a neighborhood just 50 miles north of Tampa and no, this won’t be the first or the last.

On July 20th a sinkhole opened up in Spring Hill, FL right in the road and adjacent front yards 40-yards wide and 30-feet deep.  County officials will investigate the hole to determine the next action.  Engineers will look at geological test to ensure the hole is not going to grow even further.  No one was hurt but until the investigation is complete three of the closest home owners are awaiting the results and the fourth homeowner is planning to move out.

For homeowners the most important things to keep in mind about sinkholes are:

  1. Insurance costs and effects the sinkhole would have.
  2. Acts of God can happen almost anywhere.
  3. Knowing your neighborhood is more important than how much you love the house.

Bottom line is Florida is all limestone and when the water table drops the cavities under the surface can open up forming a sink hole.  With an increase in property development, water management (or there lack of) and erosion it is sometimes a recipe for sinkholes.   There is an upside though, you can get this information and have the ground tested by professional engineers.  There is always a chance something not so favorable could happen but do your due diligence of the areas you are looking to live in.  Much like living in flood zones, sinkholes are tracked and state geologists are working on creating a statewide map showing where sinkholes are most likely to form.  The fieldwork they completed has offered a “relative vulnerability” map that has proved to be 93 percent successful in the plot area predicting where sinkholes will form.  The plot area includes 230 locations in the Columbia, Hamilton and Suwannee counties.

If you are in the process of searching for a new home you will definitely benefit from the information provided on our MoveMap! You can research all kinds of information about your potential home, neighborhood and surrounding community so you can make sure the home you buy is the perfect home for you!