 | Welcome to the Flood Zone is a nationally distributed resource for those interested in flood zone issues, land surveying, real estate, history, and educational opportunities. This newsletter has been proudly featured by the Association of State Floodplain Managers, the National Society of Professional Surveyors, and the Maine and New Hampshire Floodplain Management Programs. Please feel free to share with your friends and colleagues! If you no longer wish to receive this newsletter, simply click the unsubscribe link in the footer of this message. | In this Issue of Welcome to the Flood Zone: In the News: "Your Future Home Could Be in a Flood Zone -- and No One's Required to Tell You" and "Inside New Gloucester"
Speaking Engagements: October 15, 2018, Pine Point, Scarborough, Maine
Resources: "NFIP Grandfathering Rules for Agents", "Adoption of Flood Insurance Rate Maps by Participating Communities" and "Flood Safety Education and Outreach"
NFIP Terminology: Map Revision Date
Real Estate Corner: "Scam Alert: Maine Family Falls Victim to Wire Fraud While Closing on New Home" and "3 Ways Real Estate Developers Can Stay Ahead of Climate Change" Banner Image: What looks like a river is actually Interstate 40 in Duplin County, North Carolina, after Hurricane Florence. Image was taken from a drone by North Carolina Division of Aviation. Reuters/CBS 2018. | In the News Your Future Home Could Be in a Flood Zone -- and No One's Required to Tell You By Greta Moran, Grist, September 20, 2018 "So why do homeowners all over the country invest in flood-prone property in the first place? One issue is that they don’t have enough information to know better. Due to an insubstantial patchwork of flood risk disclosure laws, 'many Americans who are about to make one of the biggest financial investments of their lives have zero knowledge of whether a house has flooded and is likely to flood again,' according to research published last month in a joint project between the NRDC and the Sabin Center for Climate Law. In 21 states, there are no statutory or regulatory requirements for a seller to disclose a property’s flood risks or past flood damages to a potential buyer, according to the research. The other 29 states have varying degrees of disclosure requirements." Read more! |  Rupert Watson, left, Tom Blake, Phil Blake and David Watson, along with others, met Sept. 19 at the New Gloucester Veterans Monument to see the inscription for the Watsons’ uncle, a British WW II pilot in the Royal Navy who perished over the skies of New Gloucester during training maneuvers in 1943. | Local Story!! October 3, 2018 marks the 75th anniversary of when British pilots Lieutenant Commander Alfred Jack Sewell and Sub-Lieutenant David James Falshaw Watson took off from Brunswick Naval Air Station to practice training maneuvers and tragically lost their lives when their planes collided over a meadow behind Everett Stinchfield Blake’s farm on Penney Road, in New Gloucester, Maine. One of our land surveyors here at Nadeau Land Surveys, Tom Blake, is Everett's grandson. He and his father Phil Blake, among others in the community, honored the two pilots with recognition on the New Gloucester Veterans Monument. Read more! | Speaking Engagements Thank you to the Ocean Park Association in Old Orchard Beach, ME, for inviting us to speak about flood map changes to residents in your community last month! We will be offering another public presentation, on October 15th, to residents of Pine Point in Scarborough, ME to educate on the flood mapping process and how to best prepare for the potential impacts of upcoming map changes, including changes to mortgage requirements, insurance rates, and real estate values. Please contact us if you or your clients live in the Pine Point community in Scarborough and would like to attend. | NFIP Grandfathering Rules for Agents This FEMA Fact Sheet describes the grandfathering rules that may apply when a new flood map changes a flood zone designation. It is available for property owners who:
• Already have flood insurance policies in effect when the new
flood maps become effective and then maintain continuous
coverage; or
• Have built in compliance with the FIRM in effect at the time
of construction. Click here to view a PDF of the Fact Sheet. | Adoption of Flood Insurance Rate Maps by Participating Communities Flood map revisions are on the horizon for many communities around the country. The process involves a specific timeline that allows communities to review changes, adopt new or amend existing floodplain regulations, and engage the public to make them aware of the changes and collect additional scientific data for appeals, before finalizing the changes. Click here to learn more about the process. | NFIP Terminology: Map Revision Date The date in the title block of a Flood Insurance Rate Map (FIRM) is the map's most recent revision date. As changes occur within a community that result in a change in flood elevations or floodplain delineations, FEMA republishes only the map index and the changed map panels. Any revised panels are given a new map revision date and new suffix letter. Once panels are issued to the community, the date on the panel is referred to as the effective date. Some communities have map panels with different effective dates. The Map Index lists the current effective date for the most recently revised panel of a FIRM or of the FIRM itself, if all panels were revised. From "NFIP Floodplain Management Requirements", FEMA P-480, February 2005. | Real Estate Corner Scam Alert: Maine Family Falls Victim to Wire Fraud While Closing on New Home WMTW News 8, September 11, 2018 "The Maine Attorney General's Office says wire fraud is a big problem.
Real estate agencies, title companies and lenders are all warning their clients. A Woolwich woman explains how she became a victim of wire fraud while closing on her new home." Click here to view the news broadcast. | 3 Ways Real Estate Developers Can Stay Ahead of Climate Change By: David Wigder, GreenBiz, January 4, 2018 "The value of global real estate is enormous, topping $217 trillion, of which 75 percent is residential homes and property. Given this scale, it is hard to overstate the importance of real estate to people’s personal fortunes. For many, it is their largest single investment. Residential real estate markets are increasingly vulnerable to climate change. People are beginning to recognize this new reality — and markets are starting to reflect the change. This shift present opportunities and risks for developers, lenders and investors that do business in this market. Understanding these dynamics will help them better navigate the challenges and capitalize on the opportunities." Click here to read more! |  Image by: Signe Wilkinson | | | |
