As a licensed real estate agent, experienced journalist, and avid reader of sea level rise-related media report and studies, there’s one major transition I’ve noticed in 2019: sea level rise flooding is shifting from a nebulous scientific fact to a has-to-be-addressed-now reality.
After decades of reading studies describing how sea level rise will one day impact our world, I’m seeing more and more reports from cities and towns all along the Atlantic, Pacific and Gulf of Mexico coastlines that are now being forced to deal with actual sea level rise flooding that’s impacting real estate and critical infrastructure. (Search the term “sea level rise flooding” online, and you’ll see what I mean.) Of special note is the fact that the coverage is also shifting from storm surge events, where hurricanes, tropical storms and other extreme occurrences send floodwaters over land, to so-called seasonal king tides that due to an alignment of the sun and moon cause flooding even on the sunniest of days.
In South Florida, where I live, not too long ago king tide/sea level rise flooding was easy to hide. It occurred mainly in the fall and only seemed to affect a smattering of vulnerable neighborhoods. Now, the flooding is occurring with greater frequency, for longer periods, and with increasingly harmful effects. The now very obvious flooding is starting to set off alarm bells for public officials and private and commercial real estate owners as they come to realize that sea level rise flooding is going to get worse in the years to come.
To try to help buyers, sellers, owners and real estate agents to get a firm grip on the nature of the problems posed by sea level rise flooding, I wrote “7 Sea Level Rise Real Estate Questions” and released it this month in paperback and Kindle versions on Amazon.com.
The book explains what sea level rise flooding is, and the threats it poses to real estate buyers, sellers, owners, and agents, as well as communities and entire regions. For example, property owners who are experiencing actual sea level rise flooding can face increased home maintenance costs and the potential for their homes to lose value. These property owners and owners in areas that are experiencing flooding but whose property isn’t itself being inundated at this time are both at risk of ballooning flood insurance premiums and higher taxes, as governments try to rescue infrastructure by taking steps such as raising roads and water and sewer pipes, building higher sea walls and installing pumps. In addition, those who own property located in communities governed by homeowner’s associations and condo associations could also see a spike in dues and special assessments to fund remediation efforts.
The simple fact is sea level rise flooding will get worse in 2020. To protect their financial futures, buyers, sellers, owners and real estate agents in coastal areas need to get educated and stay informed about this challenge.
In the coming year, I will post the latest developments on SeaLevelRiseRealEstate.com and release an updated version of “7 Sea Level Rise Real Estate Questions” in December.