Last night I attended a seminar hosted by a local Realtor, Kelley Rea Murphy and there were some good points discussed so I decided to pull some of my notes together.
First, some broad stroke definitions:
- NFIP = National Flood Insurance Program.
- FIRM = Flood Insurance Rate Map.
- BFE = Base Flood Elevation. This is what FEMA believed the flood waters will rise to in the SFHA noted.
- SFHA = Special Flood Hazard Area. SFHA are defined as the area that will be inundated by the flood event having a 1-percent chance of being equaled or exceeded in any given year. The 1-percent annual chance flood is also referred to as the base flood or 100-year flood. SFHA
