REAL ESTATE FLOOD DISCLOSURE PROGRAM & FLOOD MAP INFORMATION SERVICES

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1 REAL ESTATE FLOOD DISCLOSURE PROGRAM & FLOOD MAP INFORMATION SERVICES Lisa Foster, CFM, Floodplain Coordinator January 26, 2018 Why are you here? Save your clients money on their flood insurance premiums Arm yourself with knowledge to increase your credibility and value as a real estate representative Reduce your risk of exposure to claims of misrepresentation 1

2 Today s Topics Pinellas County Floodplain Management Program The Community Rating System (CRS) Flood Risk & Flood Maps Real Estate Flood Information & Disclosure Brochure Flood Insurance Basics Pinellas County Comprehensive Floodplain Management Program Preventive & Corrective Measures Outreach & Education FLOOD RESILIENT COMMUNITY Federal Program Participation Planning & Response 2

3 Federal Program Participation Federal Emergency Management Agency (FEMA) National Flood Insurance Program (NFIP) Maps and regulatory basis for local floodplain management Community Rating System (CRS) Incentive to go above and beyond NFIP minimum requirements Community Rating System 3

4 How Much Will Your Clients Save on Flood Insurance Premiums? Unincorporated Pinellas County Flood Insurance Premium Savings *See handout 4

5 Find out the Flood Risk Surface / Localized Riverine Coastal / Storm Surge Image Source: TBO.com Image Source: baynews9.com Image Source: Find out the Flood Risk Pinellas County Flood Map PinellasCounty.org/flooding FEMA FIRM County FHA Storm Surge Evacuation Zones Natural Floodplains Elevation Certificates Current Water Levels 5

6 Find out the Flood Risk Pinellas County Flood Map PinellasCounty.org/flooding FEMA FIRM County FHA Storm Surge Evacuation Zones Natural Floodplains Elevation Certificates Current Water Levels Find out the Flood Risk Pinellas County Flood Map PinellasCounty.org/flooding FEMA FIRM County FHA Storm Surge Evacuation Zones Natural Floodplains Elevation Certificates Current Water Levels FLOOD INSURANCE RATE MAP 6

7 FEMA FIRM SFHA vs Non SFHA SFHA: Special Flood Hazard Area High risk zones Begin with A or V Shaded blue on Flood Map Flood Insurance Required with federally backed mortgage Non SFHA Moderate to low risk zones Begin with X, B or C Flood Insurance recommended Moderate risk (shaded X zones): Shaded orange on Flood Map Low risk (unshaded X zones): Unshaded on Flood Map Service Center *Also areas where the flood hazard is undetermined, labeled as Zone D. FEMA FIRM Non-SFHA Moderate Risk Non-SFHA Low Risk 20% claims SFHA High Risk 1 in 4 chance of flooding during 30 yr mortgage 7

8 Coastal Barrier Resource Area FEMA FIRM Updates Coming FEMA will: Provide Preliminary FIRM Hold public meeting County will: Add Preliminary FIRM to map service Review preliminary FIRM for accuracy and validity Hold public meetings 8

9 Find out the Flood Risk Pinellas County Flood Map PinellasCounty.org/flooding FEMA FIRM County FHA Storm Surge Evacuation Zones Natural Floodplains Elevation Certificates Current Water Levels Find out the Flood Risk Pinellas County Flood Map PinellasCounty.org/flooding FEMA FIRM County FHA Storm Surge Evacuation Zones Natural Floodplains Elevation Certificates Current Water Levels 9

10 Find out the Flood Risk Pinellas County Flood Map PinellasCounty.org/flooding FEMA FIRM County FHA Storm Surge Evacuation Zones Natural Floodplains Elevation Certificates Current Water Levels Find out the Flood Risk Pinellas County Flood Map PinellasCounty.org/flooding FEMA FIRM County FHA Storm Surge Evacuation Zones Natural Floodplains Elevation Certificates Current Water Levels 10

11 Find out the Flood Risk Pinellas County Flood Map PinellasCounty.org/flooding FEMA FIRM County FHA Storm Surge Evacuation Zones Natural Floodplains Elevation Certificates Current Water Levels ONLY RAIN DOWN THE DRAIN Find out the Flood Risk Pinellas County Flood Map PinellasCounty.org/flooding FEMA FIRM County FHA Storm Surge Evacuation Zones Natural Floodplains Elevation Certificates Current Water Levels 11

12 Find out the Flood Risk Pinellas County Flood Map PinellasCounty.org/flooding FEMA FIRM County FHA Storm Surge Evacuation Zones Natural Floodplains Elevation Certificates Current Water Levels 12

13 5 More Things You Need to Know about NFIP Flood Insurance 8. Homeowners insurance does not cover flood 9. Condo association policies do not cover personal property 10. NFIP policy not available if: Post CBRA effective date Lenders may require coverage outside of the SFHA or with other types of mortgages 12. Different types : Preferred Risk Full Risk Pre FIRM Grandfathering Newly Mapped procedure 13

14 Pop Quiz 1. Which map (or maps) drive the requirement for and cost of flood insurance? 2. Which map (or maps) show flood hazard areas regulated under the Pinellas County Floodplain Ordinance? 3. How would you find out if the lowest floor of a home you are selling is below the Base Flood Elevation (BFE)? Real Estate Flood Disclosure Program Purpose: Educate buyers on flooding and flood insurance before committed to purchasing the property Benefits: Agent: Reduced risk of exposure to claims of misrepresentation Reduced flood insurance premiums Buyer: Able to make informed decision Reduced flood insurance premiums Components: Map Information Service & training Real estate flood information and disclosure brochure 14

15 Flood Information & Disclosure Brochure Flood Information Guidelines 1. Legend 2. Layers 3. Base Map 4. Ruler

16 Flood Information Guidelines Turning Layers on and off Flood Information Guidelines Use the address search box to locate the property. Click inside the actual parcel 16

17 Flood Information Guidelines Use the arrows to scroll through the flood map information. Data is for the spot that you clicked, not the whole parcel. Flood Information Guidelines If it is in the SFHA (Parcel has any blue shading on it), check the top box on the brochure. 17

18 Flood Information Guidelines If is in the moderate or low risk areas (Parcel has NO blue shading on it), check the second box on the brochure. Flood Information Guidelines If it is in the Coastal Barrier Resource System Area, check the middle box (Tierra Verde, North Sand Key, North Clearwater Beach) 18

19 Flood Information Guidelines Turn on the Storm Surge Check box if shaded with any color Flood Information Guidelines Turn on the Evacuation Zone and click parcel Check box and enter zone 19

20 Flood Information : Storm Surge Protector Guidelines Use the address search box to locate the property. Flood Information : Storm Surge Protector Guidelines If surge depth >0 (for any evacuation level click A, B, C, etc ), check the forth box. If it is in an evacuation zone, check the last box and enter the evacuation level. 20

21 Real Estate Disclosure Program Documentation for CRS Credit Program participation letter One copy of completed brochure Resources PRO Trainings Jan & July Flood Information Website Flood Insurance Technical Assistance Speakers Bureau pinellascounty.org/speak 21

22 Real Estate Disclosure Program Evaluation Tell us how we are doing! surveys/publicworks QUESTIONS? Lisa Foster Floodplain Coordinator (727)