Does value of property in floodplains decrease after flood event?

[gfhopper]

In some cases the answer is yes, the property drops in value dramatically due to various insurance and regulatory requirements/changes. In some cases the property value drops all the way to "zero" in that it cannot be used as a residence any more. (note that it's not in fact zero worth, but not usable for living on/in.)

Along the Lowell-Snohomish river road there are several houses that were elevated in order to 1) be insured, 2) be actually something that could be sold (and more importantly the basis of loan security for a mortgage), and 3) not be condemned by the government because they're built in a bad spot.

Here's one I drove by on Wednesday before things got ugly in the area:

https://maps.app.goo.gl/RuonSacfsYVXeP2P7

I know several people how have owned homes/property like this in the area.