PDF Most people don’t think about their home flooding when they buy a home in an urban part of the city, but not checking to see if a home is in a flood zone is a big mistake.
UCity Flood Zones:
University City homes located near the River Des Peres might be located in a flood zone. Driving by, you may not realize that these homes are in danger of flooding. However, spring flash floods have caused substantial damage for many University City homeowners.
Take a look at this screen shot that shows some of the University City streets which are located in federally designated flood zones.
When a home is listed for sale through a Realtor, there will almost always be a seller’s disclosure provided to the buyer identifying if a home is located in a flood zone.
However, buyers should not rely soley on the seller’s disclosure. The disclosure clearly states that the information provided is accurate to the best of the seller’s ability, but it is the buyer’s responsibility to thoroughly investigate anything that might impact the decision to purchase the property.
To check the flood zone status on a home, contact your lender or a title company and request a flood letter. The tax records available to real agents who are members of the St. Louis Association of Realtors also provide information on flood zone status. Contact me to look up the flood zone status on your home.
If you can avoid it, I think it is a bad idea to purchase a home in a flood zone. You will be required to carry flood insurance in addition to homeowner’s insurance, and it can be very difficult to sell when you are ready to move on to a new home.
Plus, you might actually live through a flood which destroys much of your personal property and damaged the home!
At times, buyers will decide that they are willing to buy a home in a flood zone because they think the risk of flooding is low and they wouldn’t be able to afford a property with as many features or in such a nice neighborhood if it wasn’t in a flood zone.
If you are trying to buy or sell a home in a flood zone, you need to be aware that the federal government just stopped issuing new flood insurance policies. If there would be a spring flood before the program is reinstated, you could be in big trouble with no coverage. Your lender might also refuse to fund your loan without a policy.
Read more about the current issues regarding flood insurance…
Possibly related posts:
I am glad you are sharing this. It would have been good to know this information when I purchased my house (90% of my lot is in a flood plain). However, I think you are being a little too one-sided in your post. The flood that occured along River Des Peres two summers ago was horrible and my heart goes out to those who lost their property and even lives. The flood zones in U. City don’t flood that often. It has been years since any kind of disaster like that had happened.
I hope that U. City is still considering doing something to River Des Peres along Shaftesbury and Wilson to keep the flooding potential to a minimum. Our neighborhood is a great one and I don’t consider the added insurance that big of a deal to live in a great area of town in a house that we love.
Please be informed (thanks again for this map), but realize that a flood plain means that there is the potential for flooding, it is not definite. Luckily I was able to avoid any damage from the flood of 2008.
Serge
Serge – Thanks for adding the perspective of someone who lives in a flood plain. I certainly agree that some buyers will be willing to take the risk and buy a home in a flood plain because they can get a much nicer home (in a nicer subdivision) than if they were only looking at homes not in flood plains.
But, my role as a real estate agent representing buyers is to help them purchase a home that meets their needs AND will also be a good investment. It is my duty to help them avoid future problems if I can. Homes in flood plains might never flood, but they certainly can. Plus these homes are harder to sell and they aren’t as good of a financial investment.
I make sure that my buyers are aware of these concerns. If they still want to buy a home in a flood plain, I will help them get as good of a deal as possible.
I am happy that you are shared this information with us.Its really valuable for me to come to know about the flooding in the area.
Yeah there has been a bad experience some two years back but after that things are ok.
No major flood seen.