Add ‘Climate Hazards’ to Your Home-Buyer’s Checklist

“These things create a change in value and change a risk for this massive asset that you’re buying as a consumer, and whether people are ...


“These things create a change in value and change a risk for this massive asset that you’re buying as a consumer, and whether people are proactively asking for it or not, we think it’s a responsibility to surface it to them,” Mr. Berkowitz said.

The risk of climate-related damage is higher for some sectors of the population. A survey on disaster preparedness from Allstate found that women are more likely than men to struggle in recovering financially from a natural disaster. Minority families and low-income households are also more likely to live in areas at risk of climate-related damage, and decades of racist housing policy in the United States has created an inequity of temperature, consigning Black homeowners to neighborhoods with higher temperatures and less shade.

With that in mind, Enterprise Community Partners, a national housing nonprofit, created Portfolio Protect, a tool that offers a risk score for hazards including earthquakes, flooding and landslides. It’s free and available for any address in the country.

There are also more in-depth resources available for those willing to pay a fee. CoreLogic, a corporation that provides property data, as well as citywide and nationwide scores, offers detailed risk reports with data sourced from mineralogical scientists, climate scientists, engineers and statisticians. Their clients include FEMA, as well as insurance companies and mortgage servicers, and reports start at $18.

“We offer risk scores that are at a composite level to tell you the big picture of how at-risk your home is for natural perils,” said Tom Larsen, CoreLogic’s principal of insurance and spatial solutions. “Step one is to know your risk now. It’s granular. It’s at the house level,” adding, “It’s not going to hit every home the same way.”

As awareness of climate-related hazards grow, the companies crunching those hazards into easily understood projections are only going to get more popular, said Zach Aarons, co-founder of MetaProp, a PropTech venture capital firm.

“You’re on Twitter seeing images of people in their kayaks in the middle of the street, or you’re seeing photos of a sky over San Francisco that looks like the sky on Mars,” he said. “This is a market that is going to continue to emerge.”

For weekly email updates on residential real estate news, sign up here. Follow us on Twitter: @nytrealestate.



Source Link

COMMENTS

Name

Africa,827,Americas,4135,Art & Culture,15055,Arts,6531,Arts & Design,1691,Asia,3310,Automobile,467,Baseball,645,Basketball,537,Books,3924,Business,5383,Celebrity,2633,Cricket,648,Crime,158,Cryptocurrency,1614,Dance,675,Defense,836,Diplomatic Relations,2496,Economy,1161,Editorial,260,Education,1270,Elections,308,Energy & Environment,3079,Entertainment,22791,Environment,3639,Europe,4257,Faith & Religion,235,Family & Life,817,Fashion & Style,3298,Finance,20123,Food & Drink,3780,Football,1115,Games,97,Gossip,10289,Health & Fitness,4126,Health Care,940,Hockey,229,Home & Garden,920,Humour,994,Latin America,49,Lifestyle,17210,Media,527,Middle East,1554,Movies,1757,Music,2677,Opinion,3140,Other,12026,Other Sports,5085,Political News,11324,Political Protests,2324,Politics,17820,Real Estate,1897,Relationship,106,Retail,3116,Science,2663,Science & Tech,10123,Soccer,250,Space & Cosmos,353,Sports,12337,Technology,3468,Tennis,583,Theater,1704,Transportation,313,Travel,2592,TV,3716,US,410,US Sports,1481,Video News,3531,War & Conflict,1069,Weird News,998,World,16644,
ltr
item
Newsrust - US Top News: Add ‘Climate Hazards’ to Your Home-Buyer’s Checklist
Add ‘Climate Hazards’ to Your Home-Buyer’s Checklist
https://static01.nyt.com/images/2021/06/01/realestate/01Climate-illo/01Climate-illo-facebookJumbo.jpg
Newsrust - US Top News
https://www.newsrust.com/2021/06/add-climate-hazards-to-your-home-buyers.html
https://www.newsrust.com/
https://www.newsrust.com/
https://www.newsrust.com/2021/06/add-climate-hazards-to-your-home-buyers.html
true
732247599994189300
UTF-8
Loaded All Posts Not found any posts VIEW ALL Readmore Reply Cancel reply Delete By Home PAGES POSTS View All RECOMMENDED FOR YOU LABEL ARCHIVE SEARCH ALL POSTS Not found any post match with your request Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec just now 1 minute ago $$1$$ minutes ago 1 hour ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago more than 5 weeks ago Followers Follow THIS PREMIUM CONTENT IS LOCKED STEP 1: Share to a social network STEP 2: Click the link on your social network Copy All Code Select All Code All codes were copied to your clipboard Can not copy the codes / texts, please press [CTRL]+[C] (or CMD+C with Mac) to copy Table of Content