Even though we are only in the middle of January, months away from potential flooding, our community is continually engaged in ongoing flood issues. The National Weather Service is continually accessing and projecting spring flooding probabilities. Most of us in our community will begin the process of deciding whether we should invest in Federal Flood Insurance. This year brings to Fargo a new National Flood Insurance Rate Map, beginning January 16th. The new mapping will place approximately 2,300 homes within the 100 year flood plain. Most mortgage lenders will be requiring homeowners within this area to purchase a Federal Flood Insurance Policy. The new mapping in Moorhead was completed over a year ago. Approximately 175 homes in Moorhead are also identified within the 100 year flood plain. This includes the new addition of Moorhead’s Oakport Addition. I urge all of you; PLEASE contact your homeowners insurance agent immediately to have them identify your home within the flood mapping area. Each home’s premium rates may be affected differently. Especially in Fargo, purchasing the insurance prior to January 16th may have a substantial savings for signing up early. All policies, regardless of location will have a 30 day waiting period before the policy is effective.

If you would like more detailed information about this topic or residential properties, please email me at pkrabbenhoft@gmail.com. I look forward to helping you. Your email and name will always be held in full confidence.

Next week… I look forward to bringing you more “Speaking of Real Estate” with a recap of the total sales volume of home sales in 2014 as recorded by the FM Area Association of Realtors.