(Newswire.net — June 27, 2014) Carlsbad, California –Last week, Realtytrac, an industry leader of housing statistics, came out with its first ever Natural Disaster Housing Risk Report, showing San Diego County and Carlsbad as having a high natural disaster risk. The study came out June 18 and gave a score to 3,000 housing markets countrywide based on the risk and severity of past incidences of earthquakes, hurricanes and tornadoes. The study has high implications for assessing the values of homes.
San Diego County and Carlsbad was rated surprisingly high, though the main natural disaster threats come from the occasional, minor earthquakes. Each housing market was assigned a score between 15 and 75, with lower scores indicating the less risk. San Diego and Carlsbad were rated a 45 which is the maximum score for the high risk category vs Very High Risk.
Dennis Smith, Realtor with RE/MAX says, ” I work a lot with relocation buyers and some of them have questions and concerns about earthquakes. They hear about the Very High Risk areas like LA. I have yet to get a question about earthquakes from someone from Southern California. Nobody seems to care about the possible earthquake risk.”
San Diego and Carlsbad are popular housing markets for being preceived as an area of relatively low risks of natural disasters. Housing prices have greatly appreciated in the area by the increased demand for homes despite the high earthquake risks. The year-round nice weather, pristine beaches and excellent schools are some other reasons that make San Diego and Carlsbad popular housing markets.
A major implication of the study was how natural disaster risks affect home prices in a given housing market. What the study revealed, however, was a non-correlation between the risks and home prices. Instead, the study noted that high demand housing markets still have the highest housing values despite being in a high or very high risk area. Though the study does provide some useful information to home buyers about a particular area they’re interested in living in, it doesn’t have much more value than that. Homes in high demand markets will continue to appreciate in value and buyers will still be willing to pay more for a home in those areas regardless of the areas natural disaster risks.
San Diego County and Carlsbad are examples of such housing markets that is in a high natural disaster risk with high home values. Demand for homes and therefore prices for homes in these areas have dramatically increased as many home buyers consider the location worth the risk of potentially experiencing an earthquake. With demand so high in the area, it is recommended that home buyers work with an expert San Diego and Carlsbad Realtor who knows the area.
Dennis Smith has been a realtor for over 20 years in the San Diego, Carlsbad, Encinitas and Oceanside areas. If you’re looking to buy your next home in Southern California, you can contact Dennis via phone, email or on social media at the links below:
About RE/MAX By The Sea
Specializing in the Beach and North Coastal Communities of Del Mar, Solana Beach, Rancho Santa Fe, Cardiff-by-the-Sea, Encinitas, Carlsbad, Oceanside, Vista, San Marcos, & 55+ Senior Homes.
RE/Max By The Sea
4177 Manchester Blvd.
Encinitas, California, 92008 United States
Phone: 760-436-0087
dennis@sandiegohomes4u.com
http://sandiegohomes4u.com