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Fuzzyangel, Home Buyer in West Orange, NJ

Does Lake Parsippany and Lake Hiawatha have flood zones?

Asked by Fuzzyangel, West Orange, NJ Sat Jan 30, 2010

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I beg to differ. The flood programme for Lake Hiawatha was instituted in 1985 and not 50 years ago.
0 votes Thank Flag Link Wed Oct 10, 2012
Lake Hiawatha does still have areas that require flood insurance. Lake Hiawatha is really just a fat place in the river. Almost 50 years ago, the Army Corps of Engineers built a flood control project, and the area doesn't really flood any more, but the flood insurance requirements are based on the "50 Year Flood." Over the next few years, that will change to the "100 Year Flood," which will reduce the cost of flood insurance, but it will still be required by mortgage lenders.

Lake Parsippany is a man-made lake where the level is controlled. There are no flood zones in Lake Parsippany. Lake Parsippany dates back to the late 1920s, where the owners of the Hearst Newspapers in New York bought and developed the property, and gave away lots to people who subscribed to the newspaper. These people then built vacation bugalows and enjoyed the recreational opportunities of the lake. Since then, many have been torn down and re-built, or added on to, and there are still some of these original bungalows left. Some are quite charming, including a smattering of log cabins.

Please understand that flood insurance is required by the mortgage company. People who live in the flood insurance areas of Lake Hiawatha may not know, if they don't have a mortgage, or if it was not required by a mortgage they may have obtained 20 years ago. Also, please understand that on some streets flood insurance may not be required on one house but may be required for the one next door. Or, it may only be required for one side of the street. It also is not necessarily contiguous...in other words, it may be required on one street, skip the next street and then be required on the third. There is a little (and it is little) where it is a little crazy to try to figure out. When I work with a buyer interested in this area, before making an offer, I have my title company do a search to determine whether or not flood insurance is required. In Lake Hiawatha, it is almost always a cost of ownership issue as opposed to an actual flooding issue. Unlike parts of Lincoln Park, Wayne and Fairfield, and some other towns.

I hope this is helpful for you.
0 votes Thank Flag Link Sat Jan 30, 2010
Hello, Fuzzyangel! (cute nickname)
Yes, Lake Hiawatha area has section where flood insurance is required, and those are close to the reiver.
In Lake Parsippany, no, there are no areas where you will need the flood insurance.
0 votes Thank Flag Link Sat Jan 30, 2010
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