Realtor Updates Flood Maps on 14 Million Properties So US Homeowners Can Better Prepare For The Future

first_imgBut agrees that buyers deserve to know everything, risks included, about a home before making a purchase, and now all 110 million listed properties on their website contain either publicly or privately assembled flooding data.MORE: A Poor State in India Learned From Its Mistakes: How It Saved a Million People From the Devastating Cyclone“They can elevate their home on stilts. They can add a sump pump into the basement. They can install a rain garden outside,” executive Leslie Jordan told NPR. “But they must know their risk first.”HELP Your Friends Prepare And Share The News On Social Media…AddThis Sharing ButtonsShare to FacebookFacebookFacebookShare to TwitterTwitterTwitterShare to EmailEmailEmailShare to RedditRedditRedditShare to MoreAddThisMore AddThis Sharing ButtonsShare to FacebookFacebookFacebookShare to TwitterTwitterTwitterShare to EmailEmailEmailShare to RedditRedditRedditShare to MoreAddThisMoreSince buying a home will be the most significant financial decision of most people’s lives, prospective buyers deserve to understand the full cost of their investment. That’s why a nonprofit, First Street Foundation, is compiling an updated list of the flood-insurance risks for millions more properties nationwide and publishing their findings online for all to see.Credit: TBEP/UnsplashAs changing climatic conditions have resulted in storms of greater strength and in greater numbers, the nonprofit group is filling in the massive gaps in the Federal Emergency Management Agency (FEMA) flood zone designations.“Unfortunately, inaccurate FEMA flood maps and nonexistent or weak real estate disclosure laws make it extremely difficult for home buyers to learn of a property’s flood risk or even its flood history,” Joel Scata who studies flood risk at the Natural Resources Defense Council, told NPR. RELATED: Mangrove Trees Can Save Americans Tens of Billions in Flood Damages– So New Alliance Gets PlantingFEMA has around nine million properties in flooding zones, wherein homeowners would be required or advised to buy flood insurance, however First Street Foundation’s clever combination of data has produced a more accurate flood risk map that takes into account climate change, sea level rise, and altered rainfall patterns and storm paths, and that will continue to update faster and more efficiently than FEMA’s flooding maps.Through the unprecedented partnership of more than 80 world-renowned scientists, technologists, and analysts working together, First Street was able to identify an additional 14.5 million homes that are in potential flood areas.Their tool, Flood Factor, allows you to enter a zip code and bring up anything that’s available on homes in that area.Realtor.comHowever, the effort has been looked at glumly by major real estate companies and homeowners alike who are worried that flood risk designations would diminish the property value of their homes.last_img read more