Sound Off: How does risk of earthquakes affect sales?

A: Buyers vary in their concern over earthquakes, with some people being very worried about them to others just accepting them as something that comes with living in California. Earthquakes are definitely a risk in our area but since they happen so very infrequently, the lingering question is how do buyers protect themselves while being financially prudent?

The two things buyers can do to protect themselves is to one, talk to their insurance brokers and discuss the best type of coverage for their particular property and then weigh out the pros and cons of the expense vs. the risk.

The second is to make sure that their property is seismically upgraded to the most current standards and if it is not, they may decide that this is something that might need improvement, which would be beneficial during an earthquake.

The bottom line is, purchasing the right property and making the necessary improvements, if needed, will make your California home as earthquake safe as possible if and when one should occur.

David Weil, BWG Partners Compass, 6508233855, david@bwgpartners.com.

A: As with our microclimates that shift from neighborhood to neighborhood in San Francisco, so does the safety of a particular area in terms of being able to withstand a significant earthquake.

In San Francisco, where inventory is perpetually tight, uninformed or desperate buyers take unfortunate risks. Every Realtor should properly educate potential buyers of the risks concerning future earthquakes and the safety of particular properties and areas. Buyers can check if a property is in a liquefaction zone on apps like Templor. The Natural Hazards Report will always be included in the disclosure package.

The Marina District, South Beach and Mission Bay have the highest liquefaction risk in San Francisco, yet they are still significantly more expensive than neighborhoods that have low liquefaction risk such as Glen Park and Bernal Heights. As each neighborhood has its benefits and tradeoffs, it’s important that all buyers do their research to be as informed as possible before making a purchase.

Justin Fichelson, Fichelson Real Estate Group, 4152646829, justin@fichelsonre.com,

https://www.fichelsonre.com

A: It’s common to hear terms like “liquefaction,” “bedrock” and “seismic upgrades” when considering buying a home in the Bay Area. The majority of home buyers are very aware of our earthquake hazards and do take it seriously when considering a home purchase.

Although the amount of tolerable risk varies for each party, lowered earthquake risk increases the value of a home. For those who were born and raised in California, they understand the risk. For those relocating here, it’s just more of an educational process.

Safety is the most important factor when buying a home. It is important to ask questions about a home’s foundation, soil stability and seismic upgrades.

If these questions can’t be answered, I advise my clients to hire one of my preferred structural engineers to evaluate the home before writing an offer. Most earthquakes don’t cause substantial damage, but it’s important to be prepared for when a big quake comes along.

Allison Fortini Crawford, Sotheby’s International Realty,

4159011796, allison@fortinicrawford.com.