Home Buying in Lavallette>Question Details

Katherine Vi…, Home Buyer in State College, PA

looking to purchase foreclosure or not in Lavallette or nearby. How will this affect my homeownsrs insurance post Sany. Is thi a good time to buy?

Asked by Katherine Vigorita, State College, PA Sat Jan 5, 2013

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4
Jay Scangarella’s answer
Katherine,
This is a great time to buy in the shore area-there are many deals to be had-many homes damaged by the storm will be sold as is- for the value of the land alone. Feel free to contact me
at 908-910-0232 to explore the options available.
0 votes Thank Flag Link Thu Mar 21, 2013
Great time to buy Katherine and being a local full time realtor in Lavallette on the barrier island and living in Toms River on mainland there are many opportunites. A foreclosure will not affect your Homeowners Insurance. Feel free to reach out to me if you have any other questions.
0 votes Thank Flag Link Wed Jan 30, 2013
Hi Katherine,
It is difficult to find an insurance company who will cover homes in the Lavalette area at this point in time. I do have a few reps who will insure, depending on the specific location of the home. Prices are predicted to go higher for insurance in these area, too.
Depending on what your specific needs/expectations are, it can be a very good time to buy. If you are looking for a home that sustained significant damage, there are a lot of questions that need to be answered and most in the community are learning along the way--including Realtors, Attorneys, Builders, etc.
Without knowing what your specific circumstances are, it's hard to answer this question. But, I can tell you that homes that were worth $1MM or more are not going to be sold for $100K or so. Land values are still high as we muddle through the rebuilding process. Feel free to reach out to me via Trulia or my website below for answers to your specific buying questions.
Web Reference: http://www.dianeglander.com
0 votes Thank Flag Link Mon Jan 7, 2013
A foreclosure will not affect you homeowners insurance cost. If the house is in a flood area you will be required to get flood insurance for a mortgage.
0 votes Thank Flag Link Sat Jan 5, 2013
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