5 Lessons From a Major Flooding Disaster

It’s been a year since Baton Rouge, La., experienced catastrophic flooding due to heavy rains. According to the Federal Emergency Management Agency, 83,000 homes damaged by the flooding were eligible for disaster assistance, with each household receiving an average of $13,100 to make repairs and $3,800 to replace essential household items.
Some residents are still recovering, says John Dickson, president of flood insurance provider NFS Edge. He highlighted five takeaways from Baton Rouge’s flood disaster.

Bidding Wars: Don’t Blindly Take Highest Offer

When you receive multiple bids on your property, the highest offer shouldn’t always be their default choice. If it comes with an appraisal contingency—and the appraised value doesn’t match the sale price—you could be back at square one, looking for another buyer.
With the national median home price reaching $263,800 in June—a record high, according to the National Association of REALTORS®—home prices in many markets are escalating so quickly that appraisals can’t keep up.

Read more HERE.

The Home Designs Gaining, Losing Popularity

Builders are slowly switching focus from the $500,000-plus luxury market to more moderate price points, particularly when it comes to single-family move-up homes. And the shift is influencing the types of materials and upgrades becoming popular in new homes, according to Home Innovation’s 2017 Builder Practices Survey. It turns out that high-end materials aren’t limited to construction of luxury real estate.

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