Rentals in Lighthouse Hill>Question Details

awioj, Home Seller in Staten Island, NY

After Sandy storm, how was real estate affected? Any areas that would be affected in a positive way?

Asked by awioj, Staten Island, NY Thu Jan 24, 2013

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5
Sharon Sullivan’s answer
Sandy reeked havoc one every one, and every community it touched on the downside. On the good side, the communities rallied to the aid of their neighbors and showed the world how great a place Staten Island is when challenges come to town.
0 votes Thank Flag Link Thu Jan 24, 2013
Some of the ways the storm affected Real Estate are; sellers removing their damaged homes from the market, and buyers holding off on purchases in certain areas. Pending sales will be delayed or in some cases collapse altogether as lenders insist upon new appraisals in areas damaged by the storm. Lenders will require costly flood insurance for buildings in flood zones, second inspections for properties in these zones with loans waiting to clear for closing. Damages will have to be cured before lenders will fund these loans. There is an opportunity for construction trade workers who have survived a down housing market to get back to work, repairing, rebuilding, and in many cases relocating mechanicals from basements to higher areas.
0 votes Thank Flag Link Tue Jun 11, 2013
greater demand for areas not affected.
0 votes Thank Flag Link Mon Jun 10, 2013
I belive the areas above Hylan Blvd became very popular after the storm and are in a higher demand.
0 votes Thank Flag Link Mon Jun 10, 2013
The rental market was affected in a positive way in that displaced homeowners needed to rent until their homes could be repaired or rebuilt. There was a slight pause everywhere as the entire north east got the electricity turned back on and so forth but after that it was pretty much business as usual.
0 votes Thank Flag Link Thu Jan 24, 2013
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