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Jim Nadeau, PLS, CFM, CFS, ANFI, Realtor

Message from Jim

Preparing to choose my August “Message From Jim” and thinking more globally, I decided to provide a link to a paper entitled “Environmental & Economic Impacts Of Sea Level Rise” which I had written earlier this year. The National Flood Insurance Program (NFIP) is just one entity dealing with the concerns of sea level rise. An awareness of sea level rise globally is valuable. The paper has some length, but having enjoyed the research and preparation, I am hopeful you will enjoy reading it as well.

Click here to download "Environmental & Economic Impacts of Sea Level Rise" by Jim Nadeau.

Click on the photo to visit the new and improved Map Service Center!

Resources

FEMA Redesigned the Map Service Center

FEMA's online source for flood hazard information has undergone significant improvements to offer a more streamlined interface and new features. All flood hazard products are now available free of charge. Current paid revolving accounts and subscriptions will be discontinued. A customizable email subscription system will allow you to receive notifications when specific products become available. Now you can download FIRMs and LOMCs directly from the search results page!

Insurance Corner

We can't help but notice how quiet it has become since the passing of the Homeowner Flood Insurance Affordability Act (HFIAA) in March, especially in the media. Give or take a few passionate journalists who seem to do little else than stir up emotion about FEMA, it seems as if everyone now believes they no longer have to worry about flood insurance rate increases.

REMEMBER: The passage of HFIAA did NOT affect the 25% annual increase for Pre-FIRM non-primary residences, businesses, non-residential buildings, Severe Repetitive Loss properties of 1-4 families, and buildings where cumulative flood insurance claim payments meet or exceed fair market value -- these properties will still see this increase! *Non-Primary Residence = building lived in for less than 50% of the time (reduced from 80%). (ASFPM, 2014)

▪ Beginning October 1, 2014: new rates will become effective that comply with the maximum premium caps put in place by HFIAA. Premium refunds will then be calculated and will begin to be disbursed. (ASFPM, 2014)

FEMA recently published a very helpful guide for determining who is eligible for premium refunds and who is not. Check it out!

We've shown it before, and we'll do it again. "Last House Standing" on the Bolivar Peninsula in Gilchrist, Texas after Hurricane Ike, 2008. The only house built to withstand flood hazards, was the only one that did. Owners Warren and Pat Adams built this house to code after the first one was destroyed by Hurricane Rita in 2005.

"One reason people resist change is because they focus on what they have to give up, instead of what they have to gain."

Something to think about...
Why is there such resistance against mitigating flood hazards, building higher and further back from the coast, paying more to protect our assets? We are human. It is our nature to believe if something hasn't impacted us so far, we are probably safe. But we also know coastal living presents risk. What does it take for one to transpose their perception and understand mitigation is a positive change, and often less costly than repairing damage?

Jim Nadeau will provide the surveyor's perspective and Charlie Katz-Leavy will provide the legal perspective, when it comes to determining whether a property owner has grounds for a flood zone determination appeal. You don't want to miss this!

Learning Events

The Maine Real Estate & Development Association (MEREDA) presents "Reversing the Tide" at their upcoming Breakfast Seminar, September 9, 2014, 7:30-9:00 AM at the Clarion Hotel in Portland. Jim Nadeau will join Charlie Katz-Leavy, a Partner at Verrill Dana, for a discussion on FEMA's Flood Insurance Rate Maps and the impact they have on property owners in Maine.

Prices: MEREDA Member: $45 each | Non - Member: $55 each | Register After September 4: Prices increase $10 each

To learn more and register for this event, complete the form online at mereda.org.

Click the photo to learn more about the event!

The Real Estate & Title Section of the Maine State Bar Association presents Real Estate Institute 2014, at the Augusta Civic Center, September 12th and 13th. Jim Nadeau will be presenting two sessions during this event.

"Understanding Flood Zone Mapping & Risk"
Saturday, September 13, 2014 at 11:10-12:10 and 2:15-3:15

This event is a great opportunity to network and attend several presentations on a variety of topics in real estate, and earn continuing education credits. Download the online brochure and register using the form provided!

Flood Fact: Impervious Surfaces

Click on the photo below to read a brief publication from the USGS Water Science School on the impact of impervious surfaces on watersheds. Remember, you do not need to be on the coast to get flooded.

Impervious services contribute to severity of flooding events. When a watershed is well vegetated, it absorbs a significant amount of rainwater. When vegetation is replaced with impervious surfaces such as roads, parking lots, and buildings, this water cannot be absorbed, and it accumulates in drainage systems as it heads to nearby streams. If these systems and streams are not equipped to handle the runoff from increasing development, many places will see floods that never saw them before. Pictured above are photos taken near Peach Tree Creek outside of downtown Atlanta, Georgia, where development in the last few decades has caused a major change in the watershed.