house price in the flooding areas?

Question

i found the housing price in those flooding areas is not less cheaper. Why?

i mean in the UK

i mean 'no cheaper'.

Answer 1

its not less cheaper? what english is that haha
ok i think there no cheaper than in anyware else because at the moment the house market is extreamly high and to reduce the prices here, every one would notice and they would buy, but then try and sell it on for a bit more, so as u can see it wont really work

Answer 2

Because most every piece of land in America is already mapped out by FEMA and this has already been taken into account in the local Real Estate market with regards to pricing.

FEMA updates their maps whenever there is flooding, and the market (like New Orleans) will take a temporary nosedive, but will spring back in a few years. However, a property that is in a flood plain that hasn't flooded, in let's say, 25 years, can command a higher price.

FEMA maps are public. They appear on the appraisal, and every lender pulls one on every parcel of property.

Just because your home is in a flood plain doesn't mean you can't get it insured. If that were the case, every deal would be dead that was in a flood plain, and that just ain't so.

It just means you have to carry private flood insurance, which you can get through most major carriers, depending on how long it has been since the most recent flood, and that affects your premium too.

The lender requires evidence of flood insurance for flood plain properties, and do not in non-flood plain properties.

Flood certification, is NEVER a guarantee that a parcel will or will not flood. Anyone can be a victim of flood.

Answer 3

What city are you talking about? New Orleans? The most important factor in the price of a house is location. What location are you talking about?

Answer 4

because you cant get your house insured in those areas