Napa Valley Address

Napa Valley Real Estate | Yountville Real Estate

  • Home
  • Blog
  • Listings
  • About
  • Contact
  • Home
  • About
  • Search ►
  • Yountville
  • Oakville
  • Napa
  • St. Helena
  • Rutherford
  • Calistoga
  • Angwin
  • Pope Valley
You are here: Home / RE Current Info / Finally Congress does something right, they extend the National Flood Insurance Program for 5 years

Finally Congress does something right, they extend the National Flood Insurance Program for 5 years

July 24, 2012 by Curtis Van Carter Leave a Comment

After what seemed to be countless mini extensions of the Flood Insurance program, Congress finally did something right and sent a 5 year extension to the President who signed it on May 31, 2012. It seemed like ever other month one of the insurance people who attend my MLS Thursday breakfast meetings would stand up and warn about there being no flood insurance available. Then the next week or two, they would come back and announce only a two month extension.

I have mixed feelings about this Program, but realize we cannot do without it for the many homes located in flood zones. Besides not being able to get a mortgage without flood insurance for those located in one, there is the constant number of news stories lately about unusual weather patterns which seems to be either too much rain or none and historic droughts. Thus, even though it may be wrong for someone who’s home continues floods to be allowed to claim damages and compensation time after time, for now it is all we have. I do feel, these properties which continually flood need to be given seriously thought about what to do with them and maybe reach a permanent solution such as moving them or if unfeasible, destoring them and relocating the homeowner. Just my two cents, what is yours?

Here is the a story about this happening from National Association of REALTORS® in their last’s month REALTOR®MAG.

Why Flood Reauthorization is Such a Big Win

On July 9, 2012, in Breaking News, Mortgage Financing, Politics & Government, by Robert FreedmanREALTORS® claimed a big victory last week when President Obama signed into law the 5-year reauthorization of the National Flood Insurance Program. NAR spent years advocating on behalf of this legislation and its 1 million members, by participating in several calls for action and making passage a talking point on Hill visits for years, were instrumental in getting it finally passed.

More than just helping to get the law passed, REALTORS® were instrumental in making it a better piece of legislation.

First and foremost, the law reauthorizes federal flood insurance authority for the long-term, eliminating the constant uncertainty that flood insurance wouldn’t be available in the 21,000 communities where it’s required for obtaining a mortgage. Second, it maintains comprehensive coverage for all properties, including second homes and vacation homes. Third, it’s a revenue raiser, which will help pay down a loan from the U.S. Treasury to cover the massive Hurricane Katrina costs from 2005. Fourth, it improves the accuracy of flood plain mapping, which will continue a trend toward improved mapping so that the industry has clarity over where flood insurance is required and where it’s not. And fifth, it builds in the opportunity for further improvements to the entire flood insurance program over time, so if things aren’t working well, NAR and others will know it and have a framework for getting improvements built in.

There are many other positives to the new law, including a much improved appeals process for home owners to challenge the accuracy of the flood plain map that the federal government is using for their area.

As NAR President Moe Veissi says in a previous post on this blog, getting this reauthorization and reform program enacted into law shows that bipartisanship in the federal government still exists when the need is clear and the legislation is reasonable. It’s no surprise that it’s a program important to real estate that serves as a bipartisan vehicle for cooperation, because real estate in general and home ownership in particular are among the most bipartisan matters the federal government deals with on a regular basis.

There will be plenty of legislative and regulatory challenges for real estate in the months and years ahead, but for now, real estate shows once again it has the power to bind lawmakers together for the common good.

Share this:

  • Tweet

Related

Filed Under: RE Current Info, Real Estate News Tagged With: RE Current Info

Curtis Van Carter, has been one of Napa Valley Real Estate's most knowledgeable and experienced agents. He has been characterized by his clients for his honesty and knowledge to make a home sale or purchase as smooth as possible. If you are interested in selling or listing a home please call or EMAIL Curtis here.

Leave a Reply Cancel reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Napa Valley Real Estate Search

Area Info

  • ,
  • Calistoga, Ca
  • Napa, CA
  • Oakville, CA
  • Rutherford, CA
  • St. Helena, CA
  • Yountville, CA

Latest Yountville Real Estate

  • $799,000 238 Vista Court
    Yountville, CA
  • $719,000 162 Vineyard Circle
    Yountville, CA
  • $1,295,000 1918 Oak Circle
    Yountville, CA
  • $684,000 6600 Yount Street #10
    Yountville, CA
  • $2,175,000 MLS # 22016903
    Yountville, CA
  • $1,649,000 13 Stags View Lane
    Yountville, CA
  • $2,798,000 1 Harvest Court
    Yountville, CA
  • $2,739,000 6526 Vista Drive
    Yountville, CA
238 Vista Court
Yountville, CA
Photo of 238 Vista Court, Yountville, CA 94599 (MLS # 22002917)
$799,000
Lot Size
1,307 sqft

Home Size
1,154 sqft

Beds
2 Beds

Baths
2 Baths

162 Vineyard Circle
Yountville, CA
Photo of 162 Vineyard Circle, Yountville, CA 94599 (MLS # 22003164)
$719,000
Lot Size
1,307 sqft

Home Size
1,154 sqft

Beds
2 Beds

Baths
2 Baths

1918 Oak Circle
Yountville, CA
Photo of 1918 Oak Circle, Yountville, CA 94599 (MLS # 22004298)
$1,295,000
Lot Size
5,663 sqft

Home Size
1,400 sqft

Beds
3 Beds

Baths
2 Baths

6600 Yount Street #10
Yountville, CA
Photo of 6600 Yount Street #10, Yountville, CA 94599 (MLS # 22011991)
$684,000
Lot Size
436 sqft

Home Size
1,054 sqft

Beds
2 Beds

Baths
1 Bath

MLS # 22016903
Yountville, CA
Photo of Yountville, CA 94599 (MLS # 22016903)
$2,175,000
Lot Size
6,534 sqft

Home Size
1,946 sqft

Beds
2 Beds

Baths
2 Baths

13 Stags View Lane
Yountville, CA
Photo of 13 Stags View Lane, Yountville, CA 94599 (MLS # 22022851)
$1,649,000
Lot Size
7,841 sqft

Home Size
2,176 sqft

Beds
3 Beds

Baths
2 Baths

1 Harvest Court
Yountville, CA
Photo of 1 Harvest Court, Yountville, CA 94599 (MLS # 22023497)
$2,798,000
Lot Size
10,019 sqft

Home Size
3,026 sqft

Beds
4 Beds

Baths
3 Baths

6526 Vista Drive
Yountville, CA
Photo of 6526 Vista Drive, Yountville, CA 94599 (MLS # 22028117)
$2,739,000
Lot Size
7,406 sqft

Home Size
3,100 sqft

Beds
4 Beds

Baths
3 Baths

  • 238 Vista Court
    Yountville, CA
    Photo of 238 Vista Court, Yountville, CA 94599 (MLS # 22002917)
    $799,000
    Lot Size
    1,307 sqft

    Home Size
    1,154 sqft

    Beds
    2 Beds

    Baths
    2 Baths

  • 162 Vineyard Circle
    Yountville, CA
    Photo of 162 Vineyard Circle, Yountville, CA 94599 (MLS # 22003164)
    $719,000
    Lot Size
    1,307 sqft

    Home Size
    1,154 sqft

    Beds
    2 Beds

    Baths
    2 Baths

  • 1918 Oak Circle
    Yountville, CA
    Photo of 1918 Oak Circle, Yountville, CA 94599 (MLS # 22004298)
    $1,295,000
    Lot Size
    5,663 sqft

    Home Size
    1,400 sqft

    Beds
    3 Beds

    Baths
    2 Baths

  • 6600 Yount Street #10
    Yountville, CA
    Photo of 6600 Yount Street #10, Yountville, CA 94599 (MLS # 22011991)
    $684,000
    Lot Size
    436 sqft

    Home Size
    1,054 sqft

    Beds
    2 Beds

    Baths
    1 Bath

  • MLS # 22016903
    Yountville, CA
    Photo of Yountville, CA 94599 (MLS # 22016903)
    $2,175,000
    Lot Size
    6,534 sqft

    Home Size
    1,946 sqft

    Beds
    2 Beds

    Baths
    2 Baths

  • 13 Stags View Lane
    Yountville, CA
    Photo of 13 Stags View Lane, Yountville, CA 94599 (MLS # 22022851)
    $1,649,000
    Lot Size
    7,841 sqft

    Home Size
    2,176 sqft

    Beds
    3 Beds

    Baths
    2 Baths

  • 1 Harvest Court
    Yountville, CA
    Photo of 1 Harvest Court, Yountville, CA 94599 (MLS # 22023497)
    $2,798,000
    Lot Size
    10,019 sqft

    Home Size
    3,026 sqft

    Beds
    4 Beds

    Baths
    3 Baths

  • 6526 Vista Drive
    Yountville, CA
    Photo of 6526 Vista Drive, Yountville, CA 94599 (MLS # 22028117)
    $2,739,000
    Lot Size
    7,406 sqft

    Home Size
    3,100 sqft

    Beds
    4 Beds

    Baths
    3 Baths

Previous Next
 

Napa Valley Info & Links

  • Napa Valley Sold 10/1/20to 12/31/20
  • Napa Valley Photos on Flirkr
  • Napa Valley Videos
  • Yountville Sun Front Pages
  • Yountville A Personal Perspective
  • Detail Neighborhood Info About Yountville
  • Detail Neighborhood Info About St. Helena
  • Detail Neighborhood Info About Calistoga
  • Detail Neighborhood Info About Napa
  • Detail Neighborhood Info About Angwin
  • Detail Neighborhood Info About Oakville

Categories

About…… Curtis Van Carter

Curtis is one of Napa Valley's most experienced and trusted real estate agents.

Follow Curtis

  • Facebook
  • Google+
  • LinkedIn
  • Pinterest
  • RSS
  • Twitter
  • YouTube

Recent Posts

  • St Helena, Napa Valley Weekly Real Estate Update January 21, 2021
  • Calistoga, Napa Valley, Weekly Real Estate Update January 20, 2021
  • Yountville, Napa Valley, Weekly Real Estate Update January 15, 2021
  • St Helena, Napa Valley Weekly Real Estate Update January 13, 2021
  • Calistoga, Napa Valley, Weekly Real Estate Update January 11, 2021

Napa Valley Info & Events

  • Napa Valley Sunday Open Houses
  • Napa Valley Sold 10/1/20 to 12/31/20
  • Upcoming Napa Valley Events
  • Useful Napa Valley Links
  • Napa Valley Photos on Flirkr
  • Napa Valley Videos
  • Yountville Sun Front Pages
  • Yountville A Personal Perspective

Our Services

  • Short Sales
  • Foreclosures
  • Home Listing
  • Buyer's Broker

Contact

Better Homes & Gardens
Wine Country Group
707.944.0421 office
707.815.8584 cell
DRE # 00770113
  • Home
  • Blog
  • About
  • Listings
  • Contact

© 2021 · Napa Valley Address · Built by Varick Design