SEATTLE, Feb. 17, 2021 /PRNewswire/ — (NASDAQ: RDFN) — Redfin (www.redfin.com), the technology-powered actual property brokerage, is now publishing flood threat data for almost each dwelling on its web site in areas the place this knowledge is out there. Guests to Redfin.com who need to perceive the potential flood threat of any particular person property can now see a Flood Factor® rating from 1 to 10 related to every dwelling, representing its cumulative threat of flooding over a 30-year interval. First Street Foundation, a science and know-how nonprofit group whose mission is to quantify and talk America’s rising flood threat, supplies Flood Issue® knowledge to Redfin. At the moment, this knowledge is out there in all places within the contiguous U.S.
“Shopping for a house is the largest buy most individuals will make of their lifetime,” mentioned Redfin Chief Product Officer Christian Taubman. “By publishing the Flood Issue rating, we’re making it simpler to grasp the chance every dwelling faces of being broken by flooding, that means everybody could make better-informed selections about shopping for and promoting. Most homebuyers and sellers say that the frequency or depth of pure disasters components into their resolution about the place and whether or not to purchase or promote a house, so that is data they’ll actually use.”
Homebuyers and owners can discover flood threat knowledge—together with a property’s Flood Issue rating and estimated Federal Emergency Administration Company (FEMA) zone—on particular person itemizing and off-market pages on Redfin.com. Whereas there, customers can be taught extra about Flood Issue, FEMA and flood insurance coverage, they usually can go to FloodFactor.com for added insights on a property’s flood threat, how you can defend towards flooding, and extra. Redfin and First Avenue Basis additionally encourage homebuyers to go to floodsmart.gov to be taught extra about how FEMA assesses flood threat and maps a property into or out of a FEMA-designated Particular Flood Hazard Space.
“Our objective has at all times been to assist present and future owners perceive the extent of the flood threat dealing with a property, its severity, and the way it’s altering over time with adjustments to the setting,” mentioned Matthew Eby, Founder and Government Director of First Avenue Basis. “Integrating with Redfin considerably expands our potential to allow dwelling consumers and house owners alike to grasp in any other case complicated, tough to seek out details about flooding and the sources that contribute to and exacerbate it. By offering them with this knowledge when making ready to purchase or promote a house, Redfin is a useful associate in contributing to the general public’s understanding of flood threat.”
Produced in partnership with greater than 80 of the world’s main hydrologists, researchers and knowledge scientists, and reviewed by among the world’s main analysis establishments, First Avenue Basis’s flood mannequin is essentially the most complete within the trade. It supplies a local weather adjusted, property parcel stage evaluation of threat at present and over the course of the usual 30-year mortgage. The mannequin accounts for flood threat from 4 major flood occasions, together with heavy rainfall, storm surge, tidal and riverine sources, and it accounts for the methods wherein a altering local weather has and can proceed to impression these threat sources. Crucially, First Avenue Basis fashions areas not at present mapped by FEMA, the official public supply for flood hazard data produced in assist of the Nationwide Flood Insurance coverage Program.
Redfin (www.redfin.com) is a technology-powered residential actual property firm, redefining actual property within the shopper’s favor in a commission-driven trade. We do that by integrating each step of the house shopping for and promoting course of and pairing our personal brokers with our personal know-how, making a service that’s sooner, higher and prices much less. We provide brokerage, iBuying, mortgage, and title providers, and we additionally run the nation’s #1 nationwide brokerage web site, providing a number of on-line instruments to customers, together with the Redfin Estimate. We symbolize individuals shopping for and promoting houses in over 90 markets in the USA and Canada. Since our launch in 2006, we now have saved our clients over $800 million and we have helped them purchase or promote greater than 235,000 houses value greater than $115 billion.
For extra data or to contact an area Redfin actual property agent, go to www.redfin.com. To study housing market developments and obtain knowledge, go to the Redfin Data Center. To be added to Redfin’s press launch distribution checklist, e mail [email protected]. To view Redfin’s press middle, click here.
About First Avenue Basis
First Street Foundation is a nonprofit 501(c)(3) analysis and know-how group working to outline America’s rising flood threat. The Basis makes use of clear, peer-reviewed methodologies to calculate the previous, current, and future flood threat of particular person houses and properties throughout the USA. The Basis’s knowledge addresses an asymmetry of data within the U.S., empowering Individuals to guard themselves from growing flood threat. The Basis’s earlier analysis discovered a $15.9 billion loss in relative dwelling values attributable to tidal flooding and sea stage rise.