[Tangipahoa, LA]- Local real estate agent Michael Miller of RE/MAX Northshore says the housing market will not be severely affected by the devastating August flood.
Miller said, “I don’t think prices are going to increase at all. I think it is going to be a better market for those properties.” Miller also said that values of homes will not rise, however, unaffected areas will be more sought after.
Angela Fenasci, also of RE/MAX Northshore, said, “I think people are still going to want to live in an area no matter what.” Miller added on to the idea by saying that people will move on and eventually forget what happened in these areas and that the market will continue on its normal path.
Miller said home-lifting will not increase the value of a property. “It is only worth it to lift a home if the residents plan to stay for life. The better investment is to get flood insurance,” he said.