Hot real estate markets have made some homeowners wary of participating in voluntary flood buyout programs
, impacting efforts to move people away from flooding from rising seas, intensifying hurricanes and more frequent storms. Flood buyout programs typically purchase flood-prone homes, raze them and turn the property into green space. Chuck and Terry Nowiski lived in their country-style farmhouse with a wrap-around porch for 36 years before it flooded. After hurricanes Matthew and Florence, they said “yes” to the state's offer to buy their place and tear it down.
Flood buyout programs typically purchase flood-prone homes, raze them and turn the property into green space. That can help prevent deaths and health problems associated with flooding, such as mold-related respiratory issues and emotional trauma. But some cities have seen waning interest in voluntary programs in the wake of rising home prices. Some states are even offering extra money to persuade people to move out of harm’s way.
Concerns about finding affordable homes outside flood-prone areas aren't new, said Miyuki Hino, a professor at the University of North Carolina’s Department of City and Regional Planning. FEMA Press Secretary Jeremy Edwards said in a statement the process can be lengthy, in part, because the agency must determine that a buyout is cost-effective and complies with environmental and historic preservation requirements.
Meanwhile, the Nowiskis are waiting to know how much money they'll get for the buyout they agreed to in 2019. Keith Acree, an agency spokesperson, acknowledged that buyouts through federal programs can be a long process. But in some areas, the housing market has been so competitive that private buyers have out-bid the government — even when it offers fair-market value.
In Chesapeake, Virginia, no one participated in the buyout program last year, said Robb Braidwood, coordinator of emergency management.
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