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re: BR as the floodwaters abate...
Posted on 8/15/16 at 1:04 pm to LSUfan4444
Posted on 8/15/16 at 1:04 pm to LSUfan4444
Yep... I just passed through Watson... people are already gutting houses and many business are open, even some that took on some water.
0
Posted on 8/15/16 at 1:11 pm to SlowFlowPro
quote:
BRthat's a legit question
i'd imagine a more northern/central location. Alec?
Ellick* 
Posted on 8/15/16 at 1:12 pm to LSU Fan 90812
quote:
is this katrina/rita bad?
I think one of the interesting dynamics in play this time is that the affected areas, by and large, are upper-middle class. There has been little to no "urban" flooding. The areas hit with some of the worst rainfall issue were places like Central and Zachary in the BR area and Youngsville and Broussard in the Lafayette area. The places affected by the river flooding are naturally going to skew towards upper class homes on waterways as well.
I don't know what that means long term, but I do find it interesting.
Posted on 8/15/16 at 1:13 pm to Brosef Stalin
There was no wind damage in Katrina. I loved in waveland for Katrina. A wall of water knocked everything down. Not wind
Posted on 8/15/16 at 1:13 pm to LSU Fan 90812
You're going to have quite a large number of people, even in "nice" neighborhoods, who thought they didn't need flood insurance. They are stuck. It will take a long, long time for them to come back, and their slowness in renovating their properties will drag down the overall value of neighborhoods. Combine this with the stigma of having flooded, and it's fair to conclude that the home values in some of these neighborhoods may never come back.
Posted on 8/15/16 at 1:13 pm to LSU Fan 90812
quote:
does anyone see a plan for BR going forward so this doesn't happen again as far as better draining?
I propose huge windmills on the levee to blow the storms east
Posted on 8/15/16 at 1:16 pm to Slippy
quote:
You're going to have quite a large number of people, even in "nice" neighborhoods, who thought they didn't need flood insurance. They are stuck. It will take a long, long time for them to come back, and their slowness in renovating their properties will drag down the overall value of neighborhoods. Combine this with the stigma of having flooded, and it's fair to conclude that the home values in some of these neighborhoods may never come back.
True, and although it won't alleviate the overall real estate concerns, places that didn't flood will suddenly command a premium because the livable real estate supply was just shrunk and the home itself is instantly more valuable than an exact comp that did get water.
Posted on 8/15/16 at 1:19 pm to slackster
quote:
True, and although it won't alleviate the overall real estate concerns, places that didn't flood will suddenly command a premium because the livable real estate supply was just shrunk and the home itself is instantly more valuable than an exact comp that did get water.
but wouldn't that be countered by the fact that a lot of these homeowners are going to get a chunk of change with which to re-build in these areas?
Posted on 8/15/16 at 1:21 pm to LSU Fan 90812
quote:
but wouldn't that be countered by the fact that a lot of these homeowners are going to get a chunk of change with which to re-build in these areas?
Not sure what you are asking, but I think the answer is no. The market will only see the word "flooded" and will value that property at far less than the non-flooded property.
Posted on 8/15/16 at 1:22 pm to LSU Fan 90812
I don't know how many will get a "chunk of change" ... Flood insurance would be the coverage and it'll depend on how much coverage if any that homeowners have.
Posted on 8/15/16 at 1:22 pm to upgrayedd
quote:
I think we'll see some action on completing the diversion canal project.
Should have been done 30 years ago. It was planned and ready....but never got funding. It would have mitigated a lot of this.
Posted on 8/15/16 at 1:24 pm to Roberteaux
Send them to the Northshore!
Posted on 8/15/16 at 1:25 pm to Slippy
quote:
The market will only see the word "flooded" and will value that property at far less than the non-flooded property.
Undamaged property will see a temporary increase in value. The problem is that most of the normal alternatives to Baton Rouge were also flooded. Livingston, Zachary, Central, Ascension, and Baton Rouge all had problems from this very unusual situation.
Restaurants, businesses, auto dealers, and home repair services in the impacted area will see a spike over the next year.
Within 8-12 months, things will start returning to normal on the real estate front.
This post was edited on 8/15/16 at 1:27 pm
Posted on 8/15/16 at 1:26 pm to tiger91
How anyone in South Louisiana, in 2016, could elect not to buy flood insurance..... it boggles the mind.
Posted on 8/15/16 at 1:26 pm to LSU Fan 90812
Also, prepare for the Hispanic invasion.
Posted on 8/15/16 at 1:27 pm to Slippy
quote:
Not sure what you are asking, but I think the answer is no. The market will only see the word "flooded" and will value that property at far less than the non
It will be interesting to see if this could be the boom some of the older areas of Baton Rouge that have for many recent years been seen as "undesirable", but are high and dry from this event (because that's where it made the most sense to build on first) so desperately needed. There's really a ton of available property, just east of downtown, and stretching for about 2-3 miles outward, that I always thought was ripe for development in the coming years and under the right scenario. It would be good to see this event be that scenario.
Posted on 8/15/16 at 1:27 pm to t00f
quote:
Also, prepare for the Hispanic invasion.
I promise you that a lot of the Trump folks in Ascension will have a different take on immigration when this is all over with. Guaranteed.
Posted on 8/15/16 at 1:28 pm to LSU Fan 90812
quote:
but wouldn't that be countered by the fact that a lot of these homeowners are going to get a chunk of change with which to re-build in these areas?
Not really. A rebuilt home will still be a home that flooded in 2016. There is also going to be a significant increase in demand for temporary housing while people rebuild. Labor costs will skyrocket too. No one should price gouge, but if you're looking for work - even unskilled work - you can basically name your price in the next few months.
Posted on 8/15/16 at 1:28 pm to member12
quote:
Within 8-12 months, things will start returning to normal on the real estate front.
houses that never flooded in the past will be worth less now than they were a week ago
Posted on 8/15/16 at 1:29 pm to t00f
quote:
Also, prepare for the Hispanic invasion.
Maybe Baton Rouge will get a few decent Mexican restaurants out of this.
Also I expect to see rental property values spike in the short term as people find alternative housing while they make repairs.
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