Page 5 - Flood Factor News Today

If the house you’re about to buy is going to be under water in 30 years, should that be disclosed during the sale?

Buyers Want Waterfront Properties, Increasing Flood Risk Katie Jensen Places that are prone to flooding are seeing more growth in home sales. A Redfin report reveals that the median sale price of homes with high flood risk was $402,010 in the first quarter of 2021, compared with $353,783 for homes with low flood risk. High risk homes sold for a record 13.6% premium, up from a premium of 10.1% in the first quarter of 2020 and a premium of 7.2% in the first quarter of 2019.  "Americans are buyin...

Maps and other data are now available to help buyers analyze the risks of fires, floods and other disasters when searching for a new house.

Add ‘Climate Hazards’ to Your Home-Buyer’s Checklist Maps and other data are now available to help buyers analyze the risks of fires, floods and other disasters when searching for a new house. Credit...Stuart Bradford June 1, 2021, 6:00 a.m. ET As global temperatures increase and sea levels rise, home shoppers are looking at more than just location, price and the number of bedrooms when exploring properties. They are also wondering about the risk of natural disaster, and what tha...

Now, its about elevation: Buying a South Florida home in the era of sea level rise Alex Harris and Rebecca San Juan, The Miami Herald May 13—In South Florida, top considerations for choosing a new home have shifted, thanks to climate change. "Before it was location, location, location. Now, its about elevation, elevation, elevation. The new buyer has to worry about both," said George Jalil, broker and president at Miami Way Realty. Sea level rise doesnt top the list of buyer o...

Credit Courtesy: Mike Bach / Mike Bach spent around $8,000 to install a system of pipes and pumps to stop his late fathers home in Michigans Upper Peninsula from flooding. Access to ample water supplies could make Michigan a climate refuge. That scenario is attracting considerable attention in the Great Lakes State. But climate change also is disrupting the earth’s meteorological cycles. Which means more fierce Great Lakes region storms and more floods. The consequences are not evenly distri...

Flooding Tells ‘Two Different Stories’ In Michigan Jane Johnston,  Circle of Blue – April 27, 2021 Access to ample water supplies could make Michigan a climate refuge. That scenario is attracting considerable attention in the Great Lakes State. But climate change also is disrupting the earth’s meteorological cycles. Which means more fierce Great Lakes region storms and more floods. The consequences are not evenly distributed. Or, in the words of Jeremy Porter, the head of research and ...

‍ What You Need To Know According to a new assessment, one in five properties in L.A. County could flood within the next 30 years By 2051, each property at risk of flooding in California will incur an average annual loss of $10,444 The First Street Foundations Flood Factor tool calculates the current and future flood risk for individual properties, including damage cost estimates Most flooding in the county is caused by extreme rainfall The nonprofit research group found that 132,046 properti...

I Bought a House in a Flood Zone: Heres How We Dont Sink I Bought a House in a Flood Zone: Heres How We Dont Sink Should you ever buy a house in a major flood zone? I did, and heres how I assessed the risks, protect our property, and maintain peace of mind. Janet Siroto, provided by FacebookTwitterEmail One weekend last fall, I was checking out a real estate listing on realtor.com of a cute 19th-century house near a creek. But underneath this idyllic photo, I noticed two words in small, blue p...

Study: Floridians in Flood Zones Underpaying for Flood Insurance by Average of 379% If you live in Florida, you should probably be paying more for flood insurance. And you likely will be soon. That first finding is the conclusion of a new analysis by First Street Foundation, a nonprofit research group focused on climate impacts on property value, which found that the majority of Floridians face a higher flood risk than their insurance costs would indicate. The second prediction comes because th...