Homes With A Higher Fire Risk Sell For More Than Low-Risk Homes Redfin HEAD TOPICS

Homes With A Higher Fire Risk Sell For More Than Low-Risk Homes

10/21/2022 3:15:00 PM

Remote work has allowed many Americans to move to suburbs and rural areas which are often more vulnerable

Redfin Redfin Homes Fire Risk

Source

Forbes

The typical home with high fire risk sold for 27.6% more than the typical home with low fire risk—the largest premium in dollar terms since at least 2017. Remote work has allowed many Americans to move to suburbs and rural areas which are often more vulnerable “For a lot of pandemic-era homebuyers, what has felt much more urgent than avoiding fire danger is finding a home they can afford at a time when inventory is so low and prices are so high,” said Corey Keach, a Redfin real estate agent in the Boulder, Colorado area, where the Marshall Fire—the most destructive in the state’s history—destroyed more than 1,000 homes at the end of 2021. Keach said, “I worked with a young family whose Louisville home burned down in the Marshall Fire. Afterwards, they moved to nearby Superior, where a lot of homes also burned down. They just wanted to get into their next home fast because they had already gone through the painstaking buying process in 2020 and were worried prices were going to skyrocket another 20%.” Read more:
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Silver Peak has gained newfound attention in recent years as the energy and transportation sectors race to wean themselves off climate-warming fossil fuels. Read more >> look at my boobs😘 Empty offices concern SF mayor as tech companies still allow remote work - KCBS Radio: On-DemandSan Francisco's mayor is not happy with Elon Musk's business practices, particularly after he bailed on the Bay Area and moved the Tesla headquarters to Texas. As KCBS Radio reporter Holly Quan tells us, this comes as Musk is about to buy Twitter, which has been the anchor of San Francisco's Mid-Market area. Remote Work May Have Led to a Mini Baby BoomIn 2021, America’s birth rate went up for the first time in seven years—a change economists largely attribute to remote work. But now, these family-friendly, flexible work options may be in danger. If remote work fits your lifestyle start a side hustle or an online business for income that lets you control where you work. to get started. First Neanderthal Family Revealed by DNA From Remote Siberian CaveAncient genomes of thirteen Neanderthals provide an unprecedented snapshot of their community and social organization. For the first time, scientists have managed to sequence multiple individuals from a remote Neanderthal community in Siberia. Among these thirteen individuals, the investigators i “…striking finding is the extremely low genetic diversity within this Neanderthal community, … much lower than those recorded for any ancient or present-day human community, similar to the group sizes of endangered species at the verge of extinction.” Did inbreeding do them in? Students Are Fighting Remote Exam Surveillance — and Winning“If students want to protect their right to privacy, they’re going to have to stand up for themselves. Sitting by and hoping someone else will defend your rights is the road to losing them.' London Breed laments 'this whole work-from-home thing'In an interview with Bloomberg News, London Breed complained about the lack of remote workers returning to offices across San Francisco. Well maybe if she wanted us to return to work she’d have kept a masking policy so we wouldn’t get sick in a pandemic that’s killed more than a million Americans. They don’t mask at city hall so I don’t want to go there either. I value my health more than her political agenda I get that there is a significant economic impact by workers not coming into the city, but adapt or die. Those buildings will never be full again. Interesting since her and all the other administrators/managers only have to come in twice a week. She has no room to talk. Poor, less white US neighborhoods get worst internet dealsHaving a fast internet connection at home has become a near-requirement for many Americans, especially with the rise of remote education and working from home due to the COVID-19 pandemic Less white... Editor “For a lot of pandemic-era homebuyers, what has felt much more urgent than avoiding fire danger is finding a home they can afford at a time when inventory is so low and prices are so high,” said Corey Keach, a Redfin real estate agent in the Boulder, Colorado area, where the Marshall Fire—the most destructive in the state’s history—destroyed more than 1,000 homes at the end of 2021.Oct 19, 2022, 3:59 PM Description San Francisco's mayor is not happy with Elon Musk's business practices, particularly after he bailed on the Bay Area and moved the Tesla headquarters to Texas.birth rate is trending upwards .An artist’s illustration of a Neanderthal father and his daughter. Keach said, “I worked with a young family whose Louisville home burned down in the Marshall Fire. Afterwards, they moved to nearby Superior, where a lot of homes also burned down. Share. They just wanted to get into their next home fast because they had already gone through the painstaking buying process in 2020 and were worried prices were going to skyrocket another 20%. In a new paper , economists from the National Bureau of Economic Research are quick to acknowledge a surprising realization—that despite their prediction that birthrates would crash during and after the pandemic—they largely remained the same or increased.” Homes with high fire risk also sell faster than low-risk homes Fire-prone homes not only sell for more; they also get snatched up faster—another indication that evolving home buyer preferences during the pandemic made high-risk areas seem more attractive to many house hunters. The typical high-risk home sold in 16 days in April, compared with 20 days for the typical low-risk home. They appear to have been a small group of close relatives, consisting of ten to twenty members, and communities were primarily connected through female migration. That marks a shift from before the pandemic, when low-risk homes typically sold faster. So what caused the 2021 increase in births? Economists point primarily to a quickly rebounding economy and remote work. Another gauge of housing-market speed shows a similar trend: Nearly two-thirds (62.4%) of high-fire-risk homes sold within two weeks in April, compared with just 55.1% of low-risk homes. “This episode points to the large time costs of childbearing as an additional important driver of falling fertility rates and suggests that measures to alleviate these costs, such as improving child care and allowing parents more flexibility to work from home, might be associated with higher future fertility,” the authors of the paper wrote in their. Prior to the pandemic, high- and low-risk homes had about the same likelihood of selling within two weeks. It is unclear when the line of Neanderthals split from that of modern humans and why they disappeared. Price cuts are more common for homes with high fire risk Another interesting shift Redfin has observed in recent weeks is that sellers of high-fire-risk homes have become more likely than sellers of low-risk homes to slash their listing prices after putting their homes on the market. In April, 21.9% of high-risk listings had price drops, compared with 18.8% of low-risk listings. That’s only the second month on record (the first was March) during which fire-prone homes were more likely to have price drops. First Neanderthal community In their new study, the international team led by researchers from the Max Planck Institute for Evolutionary Anthropology focused on the Neanderthal remains in Chagyrskaya and Okladnikov Caves, which are within 100 kilometers (60 miles) of Denisova Cave. Price drops have been on the rise in the country as a whole lately as surging mortgage rates have triggered a slowdown in home buyer demand. Boise, Idaho and Sacramento, California, two hot spots for home buyers relocating from pricey major cities, were among the top five metros where sellers cut their asking prices in April. Both face substantial risk from wildfires. Follow me on .