Property value when home taken out of flood zone
I am considering buying a home that lies in a flood plain. Currently
their is a Army Corps of Engineers project that will build levees along the length of the flood area that they say will remove the need for flood insurance. An existing, levee sits on the property but it wasn't enough to remove the flood danger. When they are completed, a similar stronger levee will be in place. What should I except will happen to the home values in this area? I expect them to rise, but I really don't know if they would rise significantly. Anyone else live in a neighborhood that has a similar project completed in the past? Thanks, Jim |
Property value when home taken out of flood zone
Ask some one from New Orleans. I doubt the construction of a Levee will
remove you from the flood zone. Arnie |
Property value when home taken out of flood zone
New Orleans is a good case for buying flood insurnace even when not
required in certain areas. I will continue to buy the insurance, but it will cost significantly less -- I figure at least $1000 per year less. This has to have an impact on home values. Anyone have this experience? Thank you. wrote: Ask some one from New Orleans. I doubt the construction of a Levee will remove you from the flood zone. Arnie |
Property value when home taken out of flood zone
On 7 Aug 2006 07:17:05 -0700, "nonbuyer" wrote:
New Orleans is a good case for buying flood insurnace even when not required in certain areas. I will continue to buy the insurance, but it will cost significantly less -- I figure at least $1000 per year less. This has to have an impact on home values. Anyone have this experience? Thank you. wrote: Ask some one from New Orleans. I doubt the construction of a Levee will remove you from the flood zone. Arnie The less you need it, the cheaper it is. I'd have to be on top of a big old hill before I would forgo flood insurance. |
Property value when home taken out of flood zone
In article , GWB says...
On 7 Aug 2006 07:17:05 -0700, "nonbuyer" wrote: New Orleans is a good case for buying flood insurnace even when not required in certain areas. I will continue to buy the insurance, but it will cost significantly less -- I figure at least $1000 per year less. This has to have an impact on home values. Anyone have this experience? Thank you. wrote: Ask some one from New Orleans. I doubt the construction of a Levee will remove you from the flood zone. Arnie The less you need it, the cheaper it is. I'd have to be on top of a big old hill before I would forgo flood insurance. *I'm* on the top of a big old hill. I had a flood claim back in January 1996 due to extreme runoff conditions. Good thing I had the low-risk flood insurance. Banty -- http://news.bbc.co.uk/2/hi/middle_east/5222154.stm |
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