We are excited to transition from relaxed Summer to ramped-up Fall!
In this blog we will share a few pics from our recent get-away to beautiful Islamorada, Florida.
Read on for information about a recent accolade for Punta Gorda, Florida, as well as legislative changes in Florida concerning flood disclosures.
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Summer to Fall
Summer is such a great time to relax and reset, followed by Fall, always busy as students return to school and business ramps up in anticipation of calendar year-end and holiday season. Here we share beautiful water/sunset views from our down-time during August trip to Islamorada, Florida.
Hottest family-friendly cities in 2024
In a September, 2024 article from MoveBuddha.com, Punta Gorda, Florida ranked in the top 15 “Hottest Family Friendly Cities People Are Moving To in 2024”
Punta Gorda’s affordability, public-safety and good schools contributed to this endorsement.
Florida Legislative Change
HOA, Flooding Disclosure Bills Signed Into Law
- Whether they have filed a claim with their insurance provider relating to flood damage on the property.
- Whether they have received federal assistance for flood damage to the property.
For purposes of the new disclosure, “flooding” is defined as a general or temporary condition of partial or complete inundation of the property caused by any of the following:
- The overflow of inland or tidal waters
- The unusual and rapid accumulation of runoff or surface waters from any established water source
- Sustained periods of standing water resulting from rainfall. Some examples of an established water source can be a river, a stream, or a drainage ditch.
Currently, Florida courts are split as to whether the tendency to flood is “readily observable.” This matters because if the tendency to flood is readily observable, then there is not a requirement this information be disclosed to a buyer of residential real property. If a buyer is not familiar with an area, they may have no clue the property tends to flood. This can be especially true when the flooding is seasonal.
The Federal Emergency Management Agency (FEMA) has the authority to designate properties as a “severe repetitive loss property.” This means that the home has flooded twice, with damage totaling the value of the property OR which have flooded four times with at least $5,000 of damage each time. There are roughly 45,000 of these properties in the United States, and about 3,100 are in Florida.
FEMA’s policy is to share past flood history with ONLY a property owner who holds an active flood insurance policy. This means that prospective buyers are unable to get this information prior to closing on the home.
Additionally ,homeowners’ insurance policies tend to not cover damage resulting from floods. Buyers should always be encouraged to discuss their need to purchase separate flood insurance coverage with their insurance agent.
This new disclosure requirement will allow buyers to have crucial information prior to executing a sales contract.
Ask Your Inspector, Jason
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Send your questions to jason@dwellingcheckllc.com