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.
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