Profile picture for user4379223

How much does a home price depreciate after hurricane (say Sandy)

Hi,
Assume homeowners insurance paid for the hurricane sandy damages and damages are fixed.. Still, what % (range would help as well) does the home price depreciate due to hurricane damage (and after doing subsequent repair work)? I am referring to critical damages such as crack on foundation walls, replacements of decks/fences etc..

Any guidance would help...
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
November 25 2012 - US
We think we've answered this question for you!
  • Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.
 
 

Answers (4)

We have no idea how much property values will decline as a result of Sandy.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
December 01 2012
Profile picture for SoCal_Engr
The question is too narrow.

A house doesn't depreciate because of a hurricane, or any other natural disaster. Areas prone to natural disasters (e.g. hurricanes, tornados, earthquakes, flooding, etc.) already should have these factors reflected in their values.

On the other hand, damage and defects are "damage and defects", irrespective of original cause. If the damage/defect has been repaired, then any impact to price will depend on the quality of the repair (and/or whether it will have to be re-repaired). What does the house inspection say about the damages? This is what I'd be more concerned about, and then there are the potential costs to make cosmetic repairs.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
December 01 2012
Profile picture for user4379223
There is no water damage. All damages are due to a tree falling right onto the existing deck. Tree did some grazing on the main outer wall on the backside, but no visible damage. Whats visible are foundation cracks (near deck), deck detached from the base, deckrails and fences are completely bent. House got some cracks (like settling cracks) due to this tree falling onto the deck. 

Sewage and electrical damages could be there, but not visible at present.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
December 01 2012
Profile picture for Pasadenan
Some things can be repaired or replaced "better than new".  It all depends on what is specified for the repairs, and who does the work.

And the "water damage" that you didn't mention is much harder to see than the obvious things that you already mentioned.  I would be much more concerned about hidden damage, and would want that inspected by someone qualified to do so, that has the equipment to see inside walls with minimal invasiveness.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
November 26 2012
 
Related Questions
how do i know how much work or $ i would need to invest in a foreclose home?
Profile picture for Deirdre Lohan Conway  GRI
Latest answer by Deirdre Lohan Conway GRI
15 minutes ago | 2 answers
Value of Central AC and 1/2 Bath
Profile picture for Deirdre Lohan Conway  GRI
Latest answer by Deirdre Lohan Conway GRI
35 minutes ago | 3 answers
How do I buy a house completely with cash?
Profile picture for Joshua Lerette
Latest answer by Joshua Lerette
38 minutes ago | 3 answers
  • Asked by user99000374
  • In Home Buying
  • 1 hour 51 minutes ago
i need a place
Profile picture for Seth McCauley
Latest answer by Seth McCauley
50 minutes ago | 2 answers
What is a sound method in determining a good offer price on a house?
Profile picture for Deirdre Lohan Conway  GRI
Latest answer by Deirdre Lohan Conway GRI
58 minutes ago | 1 answers
Mortgage Rates
 
Be A Good Neighbor

Zillow Advice depends on each member to keep it a safe, fun, and positive place. If you see abuse, flag it. More on our Good Neighbor Policy.