Interested in buying a property in a floodplain (special hazardous flood area) which requires flood insurance? Well, you haven’t been able to since the National Flood Insurance Program expired May 31st. So the whole month of June halted all settlements which are in flood-risky areas. Locally, that means parts of Alexandria as well as other waterfront homes.
The good news: The Senate just passed a temporary extension through September 30th, an extension which already passed the House. Obama is expected to sign this to get these markets moving again. I’ll update this when that happens…
Edit: Obama has signed the flood insurance extension!