As reported by the Santa Maria Times, FEMA has decided that the new maps which are expected to place most of Santa Maria in a flood plain, will not be issued until September 2008 at the earliest. These maps had been expected this fall.
This provides a small reprieve to Santa Maria property owners, who would be required to purchase flood insurance, if they hold a federally insured mortgage. Homeowners who purchase flood insurance before the maps become effective may be able to receive a discount on the cost of insurance. Of course, city and county officials are still trying to work with the Army Core of Engineers to get the levee fixed which would remove the concern altogether.
Remember to contact Tni LeBlanc with Mint Properties for all your Central Coast real estate needs. I would love to assist you in taking advantage of recent market conditions. Please contact my office today at (805) 938-9950. Also, feel free to search for Central Coast properties on my website. www.MintProp.com