Sellers of homes that are not (currently) in FEMA flood zones are giddy right now
…but no one is taking into account the fact that the FEMA flood maps are being redrawn in 2015.
It’s never been harder, Realtors say, to land a buyer for a flood-insured home. The Biggert-Waters act, which began revoking big federal subsidies for older flood-zone homes Oct. 1, has driven premiums skyward, spooking buyers and killing deals.
So in hard-hit counties like Pinellas, which leads the nation in subsidized rates, homes that don’t need insurance have suddenly surged into vogue. Agents have taken notice and are touting the no-strings-attached message in online listings, yard signs and magazine ads for everything from a log cabin in Wimauma to a million-dollar mansion in Seminole.
