Resiliency is the best word to use in considering the real estate market (and much more) after the Flood of 2010. Property owners and many others have lots of questions about what happens to the value of homes and other real estate directly affected by an event such as the flood. The answers are complicated, but some key indicators have begun to paint the picture for us.
In some parts of the flooded areas, many if not most of the residents have moved back into their homes. Some of those homes have seen major renovation and improvement. Rather than simply building their homes back the way they were, many area homeowners have chosen to upgrade both their interiors and exteriors.
They may be choosing to do that because they intend to live there a long time and want to make improvements they can enjoy. Or they may be doing it to make their home more attractive when the time comes to sell it. The real point, however, that it is a very positive sign that so many people have chosen to invest in their homes indicating that they see a future for their neighborhood and community.
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