Flood insurance premiums to decrease May 1 for buyers of older properties

The National Association of REALTORS® has worked to lower flood insurance premiums.

Now that effort begins to pay off for some homebuyers. NAR announced today that beginning May 1, buyers of older properties will get to assume an October 2013 flood insurance rate.

NAR has a great rundown of the changes and what homebuyers can expect here.

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About Jon Broadbooks

Jon Broadbooks is Director of Communications for the Illinois Association of REALTORS®. He supervises and carries out the implementation of the communications programs for the Association. He directs and supervises the Communications staff. He is responsible for coordinating and implementing the public relations and media relations efforts for the Association and acts as spokesperson and liaison to the statewide news media. He serves as editor of online and print content for IAR communications including the Illinois REALTOR® magazine and e-newsletters. He conducts IAR spokesperson training seminars and oversees the operation of website development for the Association.