This Information about the 4WD area (all Currituck County areas north of Corolla proper) on the Outer Banks of North Carolina is being provided to help consumers avoid making a mistake when purchasing real estate.
Flood Insurance Availability
There is no NFIP flood insurance available to any owners in the 4WD area. NFIP is the public, cheap, easy-to-obtain federal/FEMA flood insurance available to owners everywhere else in the entire Outer Banks, except for one small section of Hatteras Island and also the tip end of the Villages at Ocean Hill subdivision in the Corolla paved road section.
Flood Zones
The entire 4WD area is a COBRA Zone (Coastal Barriers Resources Act) in which the federal government doesn’t want any development of any kind, but cannot prevent it. The three 4WD areas are Swan Beach, North Swan Beach and Carova, and each has federal preserve land between it and the next section, hence the lack of paved roads.
The flood insurance situation is key because ALL federally-backed or -insured mortgage lenders require owners to carry flood insurance if the dwelling lies fully or even partially within any FEMA flood zone other than zone X. Flood zone X is the highest elevation within the entire Outer Banks regional federally-designated flood hazard area. Continue reading ‘Flood Insurance Problems North of Corolla, NC’ »