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Don't forget: Changes to flood insurance program could triple premiums starting in October

Don't forget: Changes to flood insurance program could triple premiums starting in October
13newsnow.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from 13newsnow.com Daily Mail and Mail on Sunday newspapers.

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Buyers Want Waterfront Properties, Increasing Flood Risk

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 buying the beach houses they always dreamed of because they have the flexibility to work from wherever they want, said Redfin senior economist Sheharyar Bokhari. While flood risk is intensifying in many parts of the country, it doesn t seem to be a deal breaker for a lot of homebuyers. This may be because buyers aren t aware they re purchasing a home in a flood plain or just don t view it as an immediate danger. Places with high flood risk are also often home to large concentrat ....

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Coastal News Today | US - 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. ....

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Add 'Climate Hazards' to Your Home-Buyer's Checklist

Add âClimate Hazardsâ to Your Home-Buyerâs 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 that risk might mean for a homeâs value over time.
Itâs a question thatâs long been considered by commercial real estate investors, who have tapped into the growing field of climate analytics via companies like Four Twenty Seven and Jupiter Intelligence to get projections on weather-related hazards. But individual home buyers have traditionally not had access to the same data. ....

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'Now, It's About Elevation': Buying A South Florida Home In The Era Of Sea Level Rise

'Now, It's About Elevation': Buying A South Florida Home In The Era Of Sea Level Rise
usf.edu - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from usf.edu Daily Mail and Mail on Sunday newspapers.

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