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Risk Rating 2.0 Changes to Flood Insurance
BIG changes are coming to the National Flood Insurance Program and this will have a HUGE affect on Florida Real Estate and in particular along the coast. I recently attended a seminar on this new system intended for insurance agents and here are some of my “take aways”
There will no longer be a “Preferred Risk” policy. This is the $500/yr policy for those NOT required to have a policy by their lender. All policies will be individually rated for risk and the cost associated with that risk.
The Flood Insurance Rate Maps (FIRM’s) will ONLY be used to determine IF your lender will require you to have a flood policy.
The whole notion of a Base Flood Elevation (BFE) is going away. This is crazy. Your policy risk and premium will no longer be determined based upon open and available information being the BFE is 9′ and my first floor is 10′ so I’m good. Or my first floor is 12′ so I’m great. Elevations will be considered for ALL properties. From October onward, “Standardized rating tables will no longer be used, rates will be calculated using an algorithm.” Just exactly what that algorithm is, no one will tell you. Seriously. What they say will affect the pricing of new policies includes:
11325 Twelve Oaks Way, North Palm Beach, FL 33408
11325 Twelve Oaks Way, North Palm Beach, FL 33408 in Twelve Oaks
This is the opportunity you’ve been waiting for. Own a piece of heaven perfectly located in North Palm Beach with an included 80-foot dock with 50-amp shore power and water. Minutes to the Atlantic Ocean, Gardens Mall and Palm Beach. This 24-hour, manned gated community features a clubhouse, heated pool, tennis courts and marina with deep water and no fixed bridges. Inside this renovated stand-alone unit you will find a new kitchen, new baths and updated lighting fixtures. New A/C installed May, 2019, as well as new hurricane shutters. The property also includes a 2-car covered carport and screened in back porch. This will not last long. Dock maintenance fee is about $140 a month and is billed quarterly.
#TwelveOaks
11370 Twelve Oaks Way 311 North Palm Beach, FL 33408
11370 Twelve Oaks Way 311 North Palm Beach, FL 33408 in Twelve Oaks
Stunning Million Dollar waterfront views from this beautiful, pet friendly 2br/2ba condo. The open floor plan has cherry hardwoods floors throughout, upgraded kitchen w/ granite & stainless steel appliances. The Master BR has amazing water views & the luxurious master bath features a seamless shower glass door, dual sink/vanity and walk-in custom his/her closets. The second bedroom features a barn door entry to an oversized closet with tons of storage. Full size washer/dryer located in unit. Large screened in balcony offers amazing views of the marina & intracoastal all the way to Singer Island The unit has a convenient storage unit just down the hall. Covered parking, Cable/water included. Twelve Oaks is 24hr manned, gated intracoastal community w/ clubhouse, 4 pools & tennis/pickle ba
The Private marina has boat slips for rent or sale, wi-fi, security cameras and a security guard rover 24/7. No fixed bridges allow for easy ocean access with the Palm Beach Inlet-just minutes away! Drop you paddle board or kayak to into the water and go exploring for the day! The convenient location is walking distance to Publix grocery store, great dining and shopping. Just a short drive to the newly redesigned North Palm Country Club which offers golf, tennis, pool/swimming and dining. Nearby access to I-95 and the turnpike with PBI airport only a short 20 minute drive!
#TwelveOaks
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108 Lakeshore Drive 739, North Palm Beach, FL 33408 – Asking 539k
108 Lakeshore Drive 739, North Palm Beach, FL 33408 in the Marina Tower Building in Old Port Cove.
Light and bright, floor to ceiling views of OPC Marina, Lake Worth, Intracoastal, MacArthur Park & the Atlantic Ocean and all protected by FULL accordion panels. Both spacious bedrooms have access to the large wrap-around balcony. The kitchen and both baths have been well maintained and are ready for your touches. Efficient and quiet 2014, 3 ton Bosch AC. Loads of closet space including a walk in master, utility room with washer dryer inside the unit, AC room, and shared storage in the hallway. ALL Special Assessments are paid. No age restrictions, 1 pet under 20 lbs ok, washer & dryer in unit. The building features an on site manager, covered parking, security doors, resort style heated pool and Jacuzzi, outdoor BBQ area, social room and generator. Old Port Cove has a 24/7/365 manned gate.
The Marina Tower Building is generally considered to most social building in Old Port Cove. The building features an on site manager, covered parking, security cameras and doors, a resort style heated pool and Jacuzzi, an outdoor BBQ area, a social room and a generator for the elevators. Located on a spit of land out into the intracoastal with Macarthur Park to the east the 60 Acre Old Port Cove community has a 24/7/365 manned gatehouse, a waterfront restaurant, 2 mile walking path and a full service marina for yachts from 20 up to 200 feet. Just across the street from fine dining and shopping and just over the bridge to the recently renovated North Palm Beach County Club with a Jack Nichlaus signature golf course, restaurant, pool & tennis courts.
Branded-Version:
https://vrtourhosts.com/listing/32402
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#OldPortCove
#MarinaTower
1640 Twelve Oaks Way 305, North Palm Beach, FL 33403
1640 Twelve Oaks Way 305, North Palm Beach, FL 33408 in Twelve Oaks
***NEW PRICE***Just Reduced! Spacious 2/2 Condo in Private Marina Community, manned gatehouse 24/7! Top floor of low rise condo bldg, includes an OPEN floor plan, large kitchen, eating area, kitchen bar for casual dining, oversize screened balcony overlooking treetops! Community pools, tennis, clubhouse, manager on site, Great location! Walk to shopping, dining and much more! Minutes to beaches, golf, BRAND NEW North Palm Beach Country Club open to public, Gardens Mall, I-95, FL Tpke. Pets allowed with restrictions. Boat slips available for sale/rent to residents only.
#TwelveOaks
