Word on the street says "if your home didn't flood that it's now worth 15% more than it was prior to Hurricane Harvey." This is basically hogwash. I even saw this on the local news. There is no formula or rational to say "15% across the board." As with any property valuation, you have to look at each neighborhood individually and compare apples to apples. It was this way before the flood and it's that way now.
Let's discuss the neighborhood of Estates of Completely Flooded in Cypress, Texas where almost EVERY single home flooded. Consider the scenario were 10 homes didn't flood, but all the others did. These 10 properties would see a dramatic decrease in property value. Why in God's name would ANYONE want to buy a home in a neighborhood that has "flooded out" twice in the last 18 months? The Tax Day Flood here throughout the Houston Area was only 17 months ago and equally shocked and surprised many of the area residents. Watch this guy use an airboat down the main street in front of my neighborhood.
Another example could yield the same results for a community that only halfway flooded, but with less severity. The neighborhood I used to live in is a prime example. For 8 years that I was there we never heard of or even saw flooding in the neighborhood, but the The Tax Day Flood changed everything, then there was Harvey. From Harvey forward this subdivision will likely be labeled as a "neighborhood that floods." This doesn't mean if you live here and your home didn't flood that you can suggest raising your list price or tell everyone your property value increased. I believe the homes that did not flood are seeing an actual drop in overall value by as much 5%, give or take. Again, it's the reputation and stigma now attached to the subdivision.
If your home is near a retention pond, bayou or even a small lake your property could be unjustly stereotyped as a home that will likely flood as anything near a collection of water is now a potential threat.
Next we have the subdivisions that did not flood. These communities will likely see better appreciation, more showings and more closings.
Lastly it's the property owners who live in the subdivisions (in a desirable area) with good to great schools who experienced no flooding whatsoever that will be able to possibly see a 10-15% increase in overall property values. And if water came allllllll the way to the door that can still count as flooding.
People selling their home should not confuse the differences when determining what they should list and sell their home for. Now more than ever you should rely on a local Realtor to buy and sell your next home. The water is gone, but the memories can last a lifetime... and so can the repercussions for making stupid and irresponsible choices.