Take a look around your New York Real Estate holdings, what do they all have in common? How close are they to bodies of water, on top of a hills, in the valley? Next, you must contemplate the nature of topography and the risk it carries with it in relation to water being able to reach and or enter your home.
This issue is becoming something we’re going to have to spend time figuring out, like it or not! Homes for sale in New York could soon become more marketable or less so, based on topographical characteristic basis and needless to say, sometimes values could be at risk as well. We can see the water from every window of our home overlooking the Hudson River in the Riverdale Section of the Bronx. The distance between us the the river is almost a mile, the terrain is rocky and hilly, in our favor, on the 18th floor of our coop. Better positioned than Noah and his Arc. That is of course one way to enjoy the views without dealing with fear of what’s to come.
Living inland is another story, but offers limited inspirational views and often being shared by more real estate owners with the potential of becoming even more populated now than ever due the the very subject of this blog. Every New York real estate agent will share with you stories about losing deals now and then based on where a home is situated topographically and the increasing fear by home buyers of nature’s fury. As we all saw during Hurricane Sandy, New York homeowners, especially near lakes, oceans, and ponds took the brunt of the storm and New York real estate, for those who suffered, will never be the same.