Homeowners in western North Carolina are expressing frustration over climate risk labels, stating they misrepresent actual flood risks. A report from News 13 shares experiences from locals like John and Laura Haldane, who, while attempting to sell their home, discovered that real estate websites rated their property a 10 out of 10 for extreme flood risk, despite no actual flooding occurring during significant rain events.
Local real estate agents noted that buyers are deterred by these inflated flood risk ratings. The ratings come from First Street Technology, which uses a combination of rainfall data and other scientific models to assess flood risk. However, many homeowners found discrepancies between these ratings and local flood risk assessments, leading to concerns about the data’s accuracy.
Local real estate experts urge homebuyers to consider multiple sources when evaluating property risks, as the ratings can be misleading. Although First Street acknowledges some limitations in their models, they maintain that their methodology is sound and peer-reviewed. Homeowners have reported complaints about First Street’s data to the North Carolina Attorney General’s office and the Better Business Bureau, highlighting broader issues regarding climate risk assessments in real estate.
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