Property Valuation
In Virginia's Hampton Roads market, coastal flooding and sea level rise risk is increasingly considered a:
AMinor aesthetic concern
BMaterial factor affecting property values and insurance costs✓ Correct
CIssue only for commercial properties
DA VREB disclosure category only
Explanation
Hampton Roads faces some of the highest rates of sea level rise and land subsidence on the East Coast. Flooding risk materially affects property values, insurance availability and cost, and buyer decisions.
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