“We need to be very careful about how we provide information,” Taylor Marr, the lead economist at Redfin, told NPR. house located at 314 Flood Ave, San Francisco, CA 94112. “It’s something that I think, sooner or later, would be a great feature to include,” he said. Jeff Tucker, an economist at Zillow, told NPR that there are “a number of challenges with publishing flood risk data. I actually passed on a house that had a 6/10 flood risk that was not in a flood zone.
Both listings portals told NPR that they have discussed publishing flood risks on listings, but aren’t ready yet. There is only one body that determines the need for flood insurance and that is FEMA. “By surfacing this information upfront, consumers can avoid surprises and have all the information they need to make informed decisions and feel confident about the home-buying process.”Īccording to Jordan, disclosure of flood risk for homes that are outside the official floodplain is critical: about one-third of federal disaster money paid out to flood survivors is distributed to people who live outside the zones.īut Zillow and Redfin aren’t following ’s lead. “Historically, determining a property’s flood risk was an onerous process - in some cases, potential buyers would have no idea a property was in a flood zone until it was flagged by the mortgage company prior to closing, or in some cases not at all,” said Leslie Jordan, senior vice president of product at. Starting this week, will display flood scores from nonprofit data provider First Street Foundation across its 110 million listings. An icon toward the top of the page alerts prospective buyers to the fact that the home scored a nine out of 10 on its flood risk score, even though the main structure is on stilts. For just $244,000, the waterfront home is “a must see,” according to the listing broker.īut the same listing displayed on could make it harder for the homeowners to find a buyer. (NJMLS) Sold: 4 beds, 2.5 baths house located at 16 Highfield Ter, North Caldwell, NJ 07006 sold for 700,000 on Mar 31, 2022. The Zillow listing for 3913 Pirates Beach Circle in Galveston, Texas highlights the “incredible water views of Marina Boulevard Lake,” and praises the home’s recently remodeled kitchen and original hardwood floors.
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