Considering making an offer on a San Jose home, it's designated to be in a AH flood zone. Anyone but a bay area home in a flood zone? Anything I should know? Looks like it will require flood insurance which will run me about $500/year. Realtor says the house is still gathering interest because of the hot market, expecting at least 5 offers.
3 bed/2 bath, listed at $1.2 mil #housing #sanjose #bayarea
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Everything is cool until disaster strikes. Disaster recovery plan is needed.
There will always be people who bid. It’s important to do risk assessment. House needs to be protected against flood, fire, theft, earthquakes, lightening and other natural calamities.
All the best.
See if you can get an elevation certificate to reduce flood insurance rates.
Also, the FEMA maps are a bit old and very generic. They are going to revise maps at the end of this year on a property by property level. DM me if you have questions.
Apart from the increased requirement of flood insurance, check if that area has ever flooded. I remember there were floods in San Jose in early 2017