Scientists report that property damage in California from Atmospheric Rivers will surpass that of Wildfires in the next 30 years. While Wildfires get attention, the rising threat of Atmospheric Rivers highlights the crucial role of drainage in protecting homes.
Water dynamics investigation remains a top priority in real estate, encompassing challenges like water intrusion, foundation settlement, and steep embankments. Despite these risks, stormy conditions often get overlooked during property purchases on sunny days.
The aftermath of the 2018 Debris Flow has faded, along with firsthand disclosures from Sellers who weathered the event. Intensified rain events are expected, along with issues like compromised retaining walls, sliding hillsides, and waterlogged crawl spaces. Without the mitigating factor of a wild fire, these often are not covered by insurance.
Homes with minimal slope away from the foundation can experience water reversal over time, due to landscaping changes. Even residences atop hills can face flooded crawl spaces. Water’s capricious nature presents unexpected challenges, such as uphill movement through syphon action, and decades of weather that slowly reveal latent builder problems.
Drawing on my experience in Montecito and beyond, I recognize the critical importance of drainage for both Buyers and Sellers. Count on me for open and confidential discussions regarding your real estate concerns.
Current Real Estate Market Overview
Compared to last year, the South Coast has seen a 20% decrease in homes sold and a significant 50% decline over the past two years. Sale prices received dropped from 99% to 95% of the original listing price. On the Mesa, sales decreased by 7% from last year and 40% compared to two years ago. Sales prices received were at 97% compared to 103% two years ago. While there’s a slowdown in sales volume and subtle changes in property values, Sellers still have an advantage in the current market. Call to review your home’s value and marketability.
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