Only a quarter of respondents living in medium-risk flood areas who participated in Fannie Mae’s Flood Survey were familiar with government-backed flood insurance plans, what they cover, and—more specifically—what they don’t cover.
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“The above analysis clearly indicates a property in flood zones sells for less and appreciates slower over time than a similar property outside flood zones, given everything else is equal, in Miami,” according to CoreLogic's report.
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Redfin reports that users who viewed homes with severe and/or extreme flood risk proceeded to bid on homes with 54% less risk after gaining access to flood-risk data.
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