Every US home getting a flood-risk score – many are at higher risk than previously known

New website: https://firststreet.org/flood-factor/

Key Points:

  • Starting this week, every homeowner and potential homebuyer in America will be able to see a new analysis of their property’s flood risk.
  • First Street is remapping America’s flood risk in an effort to educate homeowners, buyers and the greater real estate industry. It assigns a flood score to every property.
  • It could have a huge impact on the national housing market.

read more at: https://www.cnbc.com/2020/08/26/every-us-home-gets-flood-risk-score-and-many-are-at-higher-risk.html

Covid-19 is squeezing real estate from all side and threatens to burst the bubble

Recently the Federal Housing Finance Administration (FHFA) — conservator of Fannie Mae and Freddie Mac — extended the moratorium for both evictions and foreclosures until the end of the year. Many homeowners breathed a sigh of relief.

Indeed, over the past few months the number of borrowers with active forbearances has declined. But that’s no reason for optimism. The more serious matter is how many homeowners are now delinquent. By the end of 2020, several million borrowers who have received mortgage forbearance will have gone nine months without making a mortgage payment.

What impact will this have on U.S. housing and mortgage markets? Let’s start with FHA-insured loans. According to HUD’s July 2020 “Neighborhood Watch” report, 17% of 8 million insured mortgages are now delinquent. This percentage includes mortgages in forbearance as well as those not in forbearance. Hard-hit metropolitan areas include New York City with 27.2%, Miami with 24.4% and Atlanta with 21%.

read more at: https://www.marketwatch.com/story/the-covid-19-lockdown-is-squeezing-real-estate-from-all-sides-and-threatens-to-burst-the-housing-and-mortgage-bubble-2020-09-21?siteid=yhoof2&yptr=yahoo

New research: Facing solar panels north is not always the best option

Installing solar panels facing north is not always the best option, new research shows, and positioning them to face east or west could save $500 upon installation.

A cheaper, less powerful solar array can have the same impact on a home’s power consumption as a more powerful one facing north, according to research by Kirrilie Rowe, a UniSA PhD candidate in the Cooperative Research Centre for Low Carbon Living Node of Excellence.

There are two reasons: peak usage times for electricity, and the amount of solar arrays trying to feed power into the grid during the middle of the day, which limits the amount of money home owners make for exporting power.

“There’s quite a lot of solar power entering the grid during the middle of the day,” Ms Rowe said. “That’s not when people use most of their power.

“It peaks in the morning and dips in the middle of the day and peaks again in the afternoon.

“The tariff is decreasing for this reason, because the wider network doesn’t want the power.”

read more at: https://www.domain.com.au/news/facing-solar-panels-north-is-not-always-the-best-option-new-research-shows-984683/?utm_campaign=strap-masthead&utm_source=smh&utm_medium=link&utm_content=pos2&ref=pos1