Flood Plain in the Highland Lakes
Most waterfront property in the Highland Lakes area includes some land in the 100-year flood plain. The existing flood plain maps were completed in 1991. There are new maps proposed for implementation in mid-2010. Some properties could be adversely affected. This should be considered when weighing a purchase.
Being somewhat in the flood plain is expected for waterfront properties. Your lender determines whether or not flood insurance is required for a property. FEMA administers government flood insurance which has regulated premiums. Private flood insurance is also available.
Flood insurance exists at several levels of premiums, primarily depending on whether or not your home or any structures are in the flood plain.
Make sure you discuss this issue with your agent if you are considering property. And, check out the government websites which contain maps and great information. www.fema.gov