I was at Jupiter Country Club the other day and you would think they’re giving away free houses there. I decided that a list of new communities in the Jupiter area may be useful. Just follow the links o the communities below to see specific community information:
How to find if a property is in the flood zone?
2018 UPDATE – Please see my updated post on this topic covering the new (since October 2017) flood maps and designation…
I get this one often. Chris, how can I tell if my property is in a flood zone?
The short answer to this question is all property in Florida is in a flood zone. Now, is it in a flood zone that matters?
If the property is in a Special Flood Hazard Area or SFHA then pay attention. If you are obtaining a loan your lender will REQUIRE flood insurance for a property located in these zones which have an elevation of the first habitable level below a certain elevation. Also, if you build, tear down and build, or even do what is referred to as a ‘substantial renovation’ you will need to adhere to FEMA guidelines in that construction.
In any other flood zones your lender MAY require flood insurance. If you’re in a B zone then I would recommend it.
So, how do I determine what flood zone a property is in? Keep in mind that the property may be in a flood zone but what matters to the lender is the elevation of the first floor of habitable space of the building(s) on the property. First, is the property located in a municipality. CLICK HERE to find out how to determine this. Next check the town web site to see if that town participates in the National Flood Insurance Program or NFIP. If the structure is located in an SFHA but the community does NOT participate in the National Flood Insurance Program (NFIP), the mortgage is NOT eligible for purchase by Fannie Mae or Freddie Mac. Here’s a link to the Town of Juno Beach NFIP page. Juno also sent me out a Juno Beach NFIP letter about their program. If it’s in an incorporated area (Juno Beach, Jupiter, Palm Beach Gardens Etc.) then look at the Flood Insurance Rate Map (FIRM) for that community.
If the property is NOT in an incorporated area then you may either look at the Palm Beach County Interactive Flood Zone Determination Tool, or you may search by the FEMA Flood Map Service Center.
If the property is in a SFHA or even close then the Lender will require a Flood Certificate completed by a Licensed Land Surveyor.
These are the designations you will see for high risk property in an SFHA area:
SFHA = The land area covered by the floodwaters of the base flood is the Special Flood Hazard Area (SFHA) on NFIP maps. The SFHA is the area where the National Flood Insurance Program’s (NFIP’s) floodplain management regulations must be enforced and the area where the mandatory purchase of flood insurance applies. The SFHA includes Zones A, AO, AH, A1-30, AE, A99, AR, AR/A1-30, AR/AE, AR/AO, AR/AH, AR/A, VO, V1-30, VE, and V. Basically, all A and V zones.
A; Areas with a 1% annual chance of flooding and a 26% chance of flooding over the life of a 30?year mortgage. Because detailed analyses are not performed for such areas; no depths or base flood elevations are shown within these zones.
AE; The base floodplain where base flood elevations are provided. AE Zones are now used on new format FIRMs instead of A1?A30 Zones.
A1 – 30; These are known as numbered A Zones (e.g., A7 or A14). This is the base floodplain where the FIRM shows a BFE (old format).
AH; Areas with a 1% annual chance of shallow flooding, usually in the form of a pond, with an average depth ranging from 1 to 3 feet. These areas have a 26% chance of flooding over the life of a 30?year mortgage. Base flood elevations derived from detailed analyses are shown at selected intervals within these zones.
AO; River or stream flood hazard areas, and areas with a 1% or greater chance of shallow flooding each year, usually in the form of sheet flow, with an average depth ranging from 1 to 3 feet. These areas have a 26% chance of flooding over the life of a 30?year mortgage. Average flood depths derived from detailed analyses are shown within these zones.
AR; Areas with a temporarily increased flood risk due to the building or restoration of a flood control system (such as a levee or a dam). Mandatory flood insurance purchase requirements will apply, but rates will not exceed the rates for unnumbered A zones if the structure is built or restored in compliance with Zone AR floodplain management regulations.
A99; Areas with a 1% annual chance of flooding that will be protected by a Federal flood control system where construction has reached specified legal requirements. No depths or base flood elevations are shown within these zones.
V; Coastal areas with a 1% or greater chance of flooding and an additional hazard associated with storm waves. These areas have a 26% chance of flooding over the life of a 30?year mortgage. No base flood elevations are shown within these zones.
VE, V1 ? 30; Coastal areas with a 1% or greater chance of flooding and an additional hazard associated with storm waves. These areas have a 26% chance of flooding over the life of a 30?year mortgage. Base flood elevations derived from detailed analyses are shown at selected intervals within these zones.
Low risk area designations:
B and X (shaded) Area of moderate flood hazard, usually the area between the limits of the 100?year and 500?year floods. B Zones are also used to designate base floodplains of lesser hazards, such as areas protected by levees from 100?year flood, or shallow flooding areas with average depths of less than one foot or drainage areas less than 1 square mile.
C and X (unshaded); Area of minimal flood hazard, usually depicted on FIRMs as above the 500?year flood level. Zone C may have ponding and local drainage problems that don’t warrant a detailed study or designation as base floodplain. Zone X is the area determined to be outside the 500?year flood and protected by levee from 100?year flood.
How can I find out if a property is in a municipality?
How can I find out if a property is in a municipality? This is an easy one if you know where to look.
First let me explain though for those who are not familiar with Florida. Everything in Palm Beach County is in the County and everyone pays County taxes. If you live in a municipality then you also pay taxes to that municipality but you get the benefit of those taxes as well.
Some of the land in the county has been incorporated into a local municipality such as the Town of Jupiter but the boundary of the incorporated area is irregular. Jonathan’s Landing as a for instance is NOT incorporated in the Town of Jupiter even though it’s right in the middle of the town. Odd, yes but that’s the way it is. If you dial 911 from inside the gate at Jonathans Landing then Palm Beach County Fire or Police will respond.
The tax millage rate (the percentage of your assessed value) that is paid in real estate taxes each year is slightly less in the county. For instance, properties in Jonathans Landing pay a 2014 tax millage rate of 18.9291, where right next door in Admiral’s Cove they pay 20.4385. The difference between the two being 1.5094 or $150.94 per 100,000 of assessed value. So, in a home valued at 500k this is about $750 per year less a home in Jonathans landing will pay than a home in Admiral’s Cove.
Palm Beach County 2014 FINAL tax millage rate
So, to return to the question, how does one tell if the property is in an incorporated area? The first two digits of the parcel ID are the city code. If it’s ’00’ then it’s in the unincorporated Palm Beach County area. The parcel ID # is on the listing details page and it’s on the tax information linked to on the listing details page.
What School District(s) is my house in?
Where can I find information what school district a property is in?
These days this is an easy one. Look the property up in the property appraisers web site (https://www.co.palm-beach.fl.us/papa/) then click on ‘View Map’ then ‘Tools’ and finally ‘School Attendance Zone’. This will tell you what school zone that particular property is in according to The School District of Palm Beach County.
If you know the school you would like your children to attend then you can see the school district boundaries by visiting this page.
Palm Beach County School District Map
What I recommend people do is to print out the neighborhood map for the general area (say Jupiter or Palm Beach Gardens) where the school district is they like and then transpose the school boundary from the County web site onto that map. These are the communities where you should be looking.
Why is everything under contract?
Why is every property I call or enquire on under contract?
If I had a nickel…well, you know. Here’s the long and the short of it. All of the data your are looking at originates from the local multiple listings services or MLS. It does not matter whose web site you use, mine, Realtor.com, Zillow they all get there data from the same place, the local MLS. The local agent enters the data into the MLS. Then, this data is then passed along to the various vendors such as myself or Zillow where it is manipulated to make it look pretty.
In the local market the MLS properties are classified as New, Active, Back on Market, Active Active Under Contract, Pending and Closed as well as Expired, Temporary Off Market etc. I say the ‘local market’ as not all of the MLS cooperatives across the US use the same status classifications. Since they don’t all use the same data fields they can not be treated the same by a computerized system.
Here’s where a decision was made to include in the data that was being pulled from the local MLS those properties which are ‘Active Active Under Contract’. Technically a Buyer could submit a Coming Soon offer on these properties but most likely it’s a waste of time as there’s about a 90% close rate. Also, there are so few properties for sale right now that property is flying off the market again.
If you look on my web site and use the full search on the drop down menu then you can choose to see only Active, and not Active Active Under Contract, properties. Or, if you’re looking at the property details sheet you can see the Status description as being either Active or Active Active Under Contract.
If you would like to avoid this altogether then simply send me an email and I will set up a search for you in the MLS.
What costs are there in buying a house
This the number one question I get. Chris, what’s all this going to cost me, the Buyer?
Here’s the way it breaks down in APPROXIMATE numbers:
BUYERS:
-Property inspection – $400.
-Termite inspection – $80.
-Loan application – $250.
-Condominium or Home Owners Association application – $200/occupant over 18
-Lenders Title Insurance policy-$500.
-Documentary stamps on the Mortgage at 0.35% (0.0035) x Loan Amount.
-Intangibles tax on loan at 0.2% (0.002) x Loan Amount
-Record the deed and mortgage in the public record-$200.
-Survey of the property-$400.
-Loan Closing Fee-$500
-Escrow account initial deposit which is typically 3 months of property tax and insurance escrow amounts.
-Property Insurance – VARIES DRAMATICALLY, from $2,000 to $6,000+
-Lender Origination fees – Again, VARIES DRAMTICALLY from $0 to 2% of the Loan Amount
The Lender expenses are the largest unknown. When you make application for a loan your lender will provide you with a Truth in Lending (TiL) statement which will have the estimated expenses associated with your loan. DON’T BE ALARMED. The TiL statement does not take into account what the Contract specifies. Most notable it is normal and customary in Palm Beach County for the Seller to provide you with a deed with the Documentary Stamps paid on it and ready to record. This is 0.7% of the Purchase Price that the Seller will Pay. Also, the Seller will pay for the Owners Title Insurance premium.
If you have any questions call me at the office at 561-626-8550.
