Property Risk – Now There is a Free App Allowing Homeowners to Check a Property’s Flood, Heat, and Wildfire.
As the consequences of global warming are felt throughout the U.S., the problems for homeowners have become apparent. News stories regarding floods, forest fires, and extreme heat create a constant drumbeat of warnings to property owners and prospective buyers. It was hard enough to assess the present day current risks of homeownership, now prospective buyers have to consider future threats to property. A new website https://riskfactor.com/ provides “past, present, and future risk projections based on peer-reviewed research from the world’s leading climate modelers” at no cost.
· Flood Factor® considers flooding from rain, rivers, tidal, and storm surge to determine the risk of water reaching the building over a 30-year period.
· Fire Factor® considers the property’s building materials, and distance to fire risk areas, and burnable materials, such as vegetation, to determine the risk of being impacted by wildfire.
· Heat Factor™ considers the property’s distance to water, land use, and relative elevation to determine the severity of extreme heat at the property and calculate the cost of staying cool.
Homeowners and prospective buyers need only to input an address to get a full report of a property’s risk factor. The site also provides an abundant amount of information on their methodology
We have provided 3 examples below of existing properties. Only a portion of the actual report is shown.
We would recommend that buyers use Risk Factor as they go through their home search.
Please contact me at 508-776-0068or Jeffrey.Marcus@Sothebys.Realtyif you have any questions.
A home in Coral Gables, FL $8,500,0005 6 bedrooms 6 bathrooms
A home in Ahwahnee, CA. $419,0004 5 bedrooms 2 bathrooms 2,916 square feet