Local News
Floodplain homeowners trying to sell are drowning
Local realtor says city hall should help property owners get out
For about 1,400 property owners in La Crosse, the prospects of trying to sell are becoming increasingly grim.
Those are the properties that exist in the city’s floodplain, mostly on the northside, the area where you must have flood insurance to get a mortgage – flood insurance that continues to get dramatically more expensive and pushing lucky sellers not in the floodplain now to advertise that fact aggressively.
And that fact is definitely a positive, says realtor Rick Hamilton. He says properties in the floodplain are valued at up to 30-percent less than those that are not.
Hamilton, who owns floodplain property, has long been an advocate for city hall putting far more resources into helping property owners make changes to get out of the special flood hazard areas.
Florine
December 24, 2015 at 3:13 am
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