Nearly one year after Hurricane Harvey flooded homes in neighborhoods such as Timarron Lakes, Grogan’s Point and Timber Lakes-Timber Ridge, homebuyers are seeing price drops on newly renovated homes, according to Haley Garcia, real estate agent with Haley Garcia Group.
“I have several listings in Timarron Lakes and in Grogan’s Point that flooded, have been renovated and are now back on the market,” Garcia said. “Some of the discounts on these homes have been anywhere from 30-40 percent. It’s a huge discount, and the buyer is basically getting a brand-new home.”
Garcia said while buyers are more cautious in moving to areas that have previously flooded, education and due diligence are keys to ensuring a buyer makes the right choice in purchasing a home.
“Buyers are definitely more hesitant to move to areas that have flooded, and I think that’s really and truly just a lack of education,” Garcia said.