October 28, 2013:  There has finally been a delay to the flood insurance increase on St.Tammany real estate.  For St.Tammany home owners that is a huge relief.  The massive increase in flood insurance was beginning to have a negative affect on all Southern Louisiana property values.

I can personally attest to having two homes sales fall out because of the flood insurance rate hike.

The delay applies to primary, non-repetitive loss residences that are currently grandfathered; all properties sold after July 6, 2012; and all properties that purchased a new policy after July 6, 2012.

The delay in the change of flood insurance will likely last four years. FEMA has estimated it will take two years to complete the affordability study before regulations can reviewed by Congress, meaning rate increases would be delayed for approximately four years.

If you would like to compare your home to others that have sold in your area visit