New listing in Fairway Mews, Spring Lake Heights!

Jun
21

Oceanfront Property & Flood Zones: FEMA Revises Flood Maps

Some more great news for our vibrant Jersey Shore! On Monday, the Federal Emergency Management Agency (FEMA) released revised flood maps that shifted many homes along the Jersey coastline out of higher-risk flood zones. This is a big relief for many homeowners who were incorrectly moved into the most at-risk flood zone right after Sandy, and have now been removed from these “V-zones.”


The oceanfront Presidential is not located in a flood zone

The FEMA maps dictate how high homes need to be raised in order to protect against future flooding, how much they will cost to insure, and whether or not banks will be willing to provide mortgages. US Senator Robert Menendez (D-NJ) said the maps released right after Sandy’s destruction were “fundamentally flawed,” and “For residents in many of the areas affected by Superstorm Sandy, the release of these updated flood maps could be the deciding factor in whether they are able to stay in their homes or are forced to relocate.”

Homes located in a V-zone are required to be higher and to be built on stilts, while those located in an A-zone have a lower height requirement and are less expensive to raise. The insurance for properties located in an A-zone will also cost less. So, while the revised maps are not final and can still be challenged by local municipalities, the fact that many homes have already been put back in the A-zone is great news.

A Home in an A-zone

Here’s the other great news: many homes were in an A-zone pre-Sandy, and have remained in an A-zone post-Sandy…and a lot of them have very little Sandy damage, or even none at all. The other thing you may not know is that there are a lot of oceanfront and ocean view homes, condominium buildings, and high-rises that never have been in a flood zone at all. Many homes and buildings near the ocean withstood the storm with very minor incidence – in my opinion, these properties are even more valuable than before Sandy. Because let me tell you, I saw the fierceness of Sandy firsthand…if a property laughed in the face of Sandy, well then I say it’s Jersey Strong!

If you dream of owning a property on the Jersey Shore but are confused by all of the information that’s out there, feel free to contact me. It will be my pleasure to try to uncomplicate the conflicting information and help you find the perfect property for you.

For more information about Base Flood Elevation address research, click here

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