14 West Hawaii Real Estate | November 24, 2017 House Passage of Flood Bill Critical Step Toward Reauthorization, Reform With less than a month left before the National Flood Insurance Program expires, the National Association of Realtors® is applauding the House of Representatives for passing what NAR believes is smart, much-needed support for the program. “Realtors® know first-hand what happens when the NFIP expires, and it isn’t good for consumers, businesses or our communities” said NAR President Elizabeth Mendenhall, a sixth-generation Realtor® from Columbia, Missouri and CEO of RE/ MAX Boone Realty. “We appreciate the leadership that members of Congress have shown passing sound reforms, which will strengthen the program, protect property owners and deliver good results for taxpayers.” The NFIP is responsible for providing the vast majority of flood insurance policies in over 20,000 communities nationwide. Without it, most consumers would be unable to purchase the flood insurance that’s required on mortgages in a flood plain. In the past, NAR has shown that 40,000 home sales are lost every month when the program is unavailable. H.R. 2874, the “21st Century Flood Reform Act,” reauthorizes the NFIP for five years, while taking steps to reform the program. These reforms include: • Authorizing $1 billion to elevate, buy out or mitigate high-risk properties • Capping flood insurance premiums at $10,000 per year for homeowners • Removing hurdles to the private flood insurance market, which often offers better coverage at lower cost than the NFIP. • Providing for community flood maps and a homeowner’s ability to appeal their flood designation • Better aligning NFIP rates to match a property’s true risk, particularly for in-land and lower-value properties • Improving the claims process for flood victims • Addressing repeatedly flooded properties, which account for 2 percent of NFIP policies but 25 percent of claim payments These changes, Mendenhall said, would improve the NFIP’s financial health, put consumers on a stronger footing, and deliver certainty to current and prospective homeowners. “The conversation happening in Washington on this issue is fundamentally about how we deliver the best results for consumers and taxpayers, and that’s a good conversation to have,” Mendenhall said. “Realtors® are simply asking that Congress swiftly deliver on the promise of this program so buyers can move forward without interruption and homeowners know their most important asset is protected. With December 8 around the corner, we’re hopeful the Senate will now step up to the plate and do their part by passing a flood reform and reauthorization package without delay.” The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.3 million members involved in all aspects of the residential and commercial real estate industries. “We appreciate the leadership that members of Congress have shown passing sound reforms, which will strengthen the program, protect property owners and deliver good results for taxpayers.” - Elizabeth Mendenhall, NAR President FILL SANTA’S BAG with an With an Affordably Priced REDUCED to Sell before Christmas $528,000 DON’T LEAVE SANTA WITH AN EMPTY BAG! Act now and celebrate Christmas with your family and friends in this meticulously maintained 3 bedroom 2 bath home. Conveinetly located North of town at a sunny elevation. Central Air is included for your comfort. Pick your Christmas oranges from your own fruit trees. Santa’s going to love the big garage/man cave. The property owner/seller is also the listing Get organized and remodel your Kitchen today. Call for FREE ESTIMATE today. agent. CALL 808-329-5667, Gretchen Osgood, RB 18884 329-5836 YOU CAN COUNT ON US Please come and visit our showroom 73-5620 Kauhola St. #3 Kailua-Kona, HI 96740 www.kitchencabinetshawaii.com kci@aloha.net Fill Santa’s Bag 73-435736-4 3K56e Kheahuau NNaanin Sit .Street Reduced to Sell Before Christmas - $528,000 DON’T LEAVE SANTA WITH AN EMPTY BAG! Act now and celebrate Christmas with your family and friends in this meticulously maintained 3 bedroom 2 bath home. Conveniently located north of town at a sunny elevation. Central Air is included for your comfort. Pick your Christmas oranges from your own fruit trees. Santa’s going to love the big garage/man cave. The property owner/seller is also the listing agent. Hawaiian Isle Real Estate, LLC. RB 19005 Gretchen@HawaiianIsle.net What are you getting for Christmas? FILL SANTA’S BAG with an REDUCED to Sell before Christmas $528,000 DON’T LEAVE SANTA WITH AN EMPTY BAG! Act now and celebrate Christmas with your family and friends in this meticulously maintained 3 bedroom 2 bath home. Conveinetly located North of town at a sunny elevation. Central Air is included for your comfort. Pick your Christmas oranges from your own fruit trees. Santa’s going to love the big garage/man cave. The property owner/seller is also the listing Gretchen@HawaiianIsle.net CALL 808-987-1012 What are you getting for Christmas? 73-4356 Kehau Nani St. agent. CALL 808-329-5667, Gretchen Osgood, RB 18884 Hawaiian Isle Real Estate, LLC. RB 19005 What are you getting for Christmas? Gretchen Osgood RB 18884 RB-19005 (808) 987-1012 Gretchen@HawaiianIsle.net
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