It is common that sometime floodplain maps are not always up-to-date based on current conditions, and thus you site may actually be above the floodplain elevation. 

The property is a bit older and back up to a main road so its been a lot of ongoing major expenses over there, plus in a normal market it would be less desirable but the lack of inventory may keep the price relatively elevated this year.  

For us real estate investors, if we are in a stagflation environment, we can expect that the Fed will keep interest rates at their current elevated levels or more slowly cut rates over the course of 2024/2025.

Despite common advice, paint has changed a lot in recent history, including finishes.Satin is great for hiding defects, but also giving a more elevated look.

For example, a $1000 fine for using the elevator to move furniture would be completely unreasonable in a unit where prices are $150,000.

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In the recent transactions Iv dealt with high rises Iv seen many special assessments in place for reconstruction of elevators and other contributing factors.

This dearth of distress is another reason today’s home prices will remain elevated to stable, despite higher mortgage rates.

Home prices remaining elevated despite rapid interest rate spikes is a very good indicator for how out of balance the market currently is.