Acknowledging the looming dangers of a warming planet, CoreLogic has released new research accounting for factors such as rising sea levels, increased frequency of intense storms, and the amount of flooding that could be caused by storms in the Miami area by 2050.
Read More »Case Study: Impact of Flood Risk on Property Values
“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.
Read More »Flood Risk Becoming More Prominent Industry Concern?
Areas with a higher risk of flooding are seeing an increase in the rate of mortgage application denials and withdrawals, while risks associated with other climate events are having little impact on mortgage lending in those areas.
Read More »Flood-Risk Data Influencing an Increasing Number of Homebuyers
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.
Read More »Second Home, Investment Property Buyers Migrating to At-Risk Areas
A new Redfin study has found that more than 40% of buyers of who purchased a vacation home or investment property during the pandemic did so in areas of high flood, storm, and/or heat risk.
Read More »Florida, Texas, Most Likely to See Flood Insurance Hikes
It seems that the Federal Emergency Management Agency Risk Rating 2.0, which is changing up where and how much people are being charged for flood insurance, is impacting Texas and Florida the hardest. FEMA’s Risk Rating 2.0 raises flood insurance ...
Read More »Analyzing FEMA’s Flood Insurance Revisions
Bad news for homeowners with a flood insurance policy—for the majority of homeowners in flood zones, rates are more than likely going to go up when the policy renewal time comes around. Starting October 1, 2021, the Federal Emergency Management Agency (FEMA) switched to a new risk rating system colloquially known ...
Read More »Premium for High Flood Risk Homes Rose During Pandemic
Researchers found that while flood risk is escalating in many parts of the country, it doesn't appear to be a deal-breaker for large number of house hunters.
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