Has this home ever experienced flooding from the nearby river?

Asked by Donna, 07940 Wed Jan 27, 2010

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This question is about this property: http://www.trulia.com/property/1083555514-5-Madison-St-Pequa…

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5
Gina Chirico, Agent, Fairfield, NJ
Wed Jan 27, 2010
Donna,

I don't know first-hand if the actual house has ever flooded but I can tell you that flood insurance is required on this property. In addition, I'm currently working with buyers in Pequannock and we are staying clear of Madison Street and the immediate area due to flooding and potential flooding.

To each their own...but houses in the flood areas are not for my buyers. Basic flood insurance is no longer reasonable and it won't even cover the contents. I've seen too many of my friends get wiped out from flooding in their basements and/or their first floor living area in splits or bi-levels or homes with no basements. They've had to regut and start over, praying that they never flood again...

Gina Chirico, Sales Associate
Prudential NJ Properties
973-715-1158 cell
973-992-6363 ext 116 office
Gina.Chirico@PrudentialNewJersey.com
0 votes
Marc Paolella, Agent, Succasunna, NJ
Wed Jan 27, 2010
Mary,

The Pompton River in that area is a notorious flood zone. I've seen it flood several times over the past 20 years. The question is not if the house will flood, it is when. It is located within a few hundred feet of the floodway. Do you know what a floodway is? Google it please.

If a home is in a 100-year floodplain it has a 26% chance of getting flooded during the typical 30 year mortgage period. If it is deep in the flood plain, the chances are better. And if it is just outside the floodway, as this property is, the odds are probably better than 1 in 3. Those are bad odds.

As a buyer's agent, I do not advocate buying in a flood zone. Even if the house does not flood, which it usually does at some point, there is the expensive flood insurance to deal with, and the stigma attached to being located in a flood zone when it comes time to resell.

-Marc

Marc Paolella
Relocation Director
Member: Worldwide ERC
Member: New Jersey MLS, Garden State MLS, Hudson County MLS
Licensed Realtor NJ
Licensed Appraiser NJ & NY
Century 21 Joe Tekula Realtors
Agent of the Year 2008
Agent of the Year 2009
Owner: Sands Appraisal Service, Inc.
Phone (direct): (973) 584-4235
Very cool new MLS map search: http://www.marcpaolella.com/SearchMLS
0 votes
Mary Petti, Agent, Edison, NJ
Wed Jan 27, 2010
OH....to clarify, I am not saying it isn't in a flood zone area, just that this particular house may not have "undoubtedly" had a problem.
0 votes
Mary Petti, Agent, Edison, NJ
Wed Jan 27, 2010
Donna,

Call the listing agent and see if there is a sellers disclosure, and if not, ask her to get that information directly from the sellers if she doesn't know it already. Get the information from the horses mouth.

Mark, unless you know the house in question, and/or have some factual knowledge that there has been a flooding problem with this partucular house (not the area), all your answer was was speculation and assumption.
0 votes
Marc Paolella, Agent, Succasunna, NJ
Wed Jan 27, 2010
Hi Donna,

Undoubtedly. That area is not only a flood hazard area, it is quite close to the actual floodway, the area around the river that floods frequently. If you live there you are very likely to experience a flood at some point. I would not buy a cheap house in a notorious flood zone like the one you are considering. You can't imagine the aftermath of a serious flood. The mud, the mold, the damage. Why ask for it? And flood insurance is no longer cheap, either. Your agent should be telling you in no uncertain terms to look elsewhere.

-Marc
Marc Paolella
Relocation Director
Member: Worldwide ERC
Member: New Jersey MLS, Garden State MLS, Hudson County MLS
Licensed Realtor NJ
Licensed Appraiser NJ & NY
Century 21 Joe Tekula Realtors
Agent of the Year 2008
Agent of the Year 2009
Owner: Sands Appraisal Service, Inc.
Phone (direct): (973) 584-4235
Very cool new MLS map search: http://www.marcpaolella.com/SearchMLS
0 votes
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