re: What will the flood do to the housing market here?

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I'm curious as to the purchase of flooded properties. For the people wanting to move from their flooded home, what will the property value be one month, six months, or one year after this?

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The appraisers can handle this - they have experience here. A gutted house is worth more than one that has yet to be gutted. Property values will be basically figuring out what the totally fixed house would be worth, and reducing that by the estimated cost of repairs.

Understand that certain mortgage programs such as FHA may have issues with writing mortgage insurance for gutted properties unless at the time you have a plan for remediation.

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Also, will there be an opportunity to buy abandoned property from the state/municipality, and how much does that usually sell for?

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That will depend upon whether the state/parish puts in some sort of Road Home type program, which I am not expecting after all the fraud the last time.

Second option would be as people walk away from homes and they are sent to either foreclosure or tax sale.