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08735 : Real Estate Advice

  • All6
  • Local Info1
  • Home Buying5
  • Home Selling0
  • Market Conditions0

Activity 13
Fri Jan 3, 2014
Valentina Gabela answered:

If the zone was changed to more severe flood zone and the base elevation is not at that height then the insurance will rise unless you raise the home.

Almost all homes in the USA qualify for flood insurance through FEMA with 2 exceptions and they are very remote places I never heard of. The problem is the premiums for houses that are not at the base flood elevations mandated by the FEMA charts. The highest premium could be $31,000 but that is in areas where homes were completely devastated.

There are charts to show the base elevations on the new FEMA maps
go to
This home had a Base 'Flood Elevation of 6 feet before the new advisory maps. This home was probably paying a small premium because it appears to be lower than 6 ft elevation from the picture.

The new advisory maps(which are not mandated yet but probably in 2013-14) show a ABFE of 10 feet. Meaning if Lavalette enforces the new advisory maps then you will need to either raise your home to 10 feet or pay a higher insurance premium. Oh and watch the height restrictions!! When you raise your home be careful not to go past height restrictions.

Good news is FEMA is giving up to $30,000 for primary homeowners to raise their house if they qualify. Bad news is trying to find a company to do it for that price.

Hope this helps
If you are not working with an agent give me a call and I can assist you.

Best regards,
Val Gabela
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Thu Mar 21, 2013
Annette Levinson answered:
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.
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Sun Mar 2, 2014
Valentina Gabela answered:
West Rutherford Lane is 1.2 milies from Pennsylvania Ave in Lavallette NJ. It is a simple ride south on Rte 35 which is the main strip that brings traffic south in that area.

Hope that helps

Val Gabela
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Thu Jul 29, 2010
Camille Miller answered:
Typically in NJ we use $125-$200 per square foot so estimate $150 for your ballpark figure. Your taste, number of bathrooms and included upgrades will determine the rest.
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Thu Jun 3, 2010
Chris Lyon answered:

In today's restricted financing market it may be hard to find a lender that would be willing to lend on a leasehold property. You may want to check with your local banks if they have a program available but first check on how much time is left on the leasehold property. If it is less than 30 years move on.

Christopher Lyon
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Thu Jun 3, 2010
Don Tepper answered:

You can get a mortgage for properties on leased land.

Two examples: A lot of property in Baltimore has annual land leases. The amounts are usually quite small--a few hundred dollars or less. But people buy those properties all the time with mortgages.

Second example: Mobile home and manufactured home parks. The lenders tend to be a bit more specialized, but you can buy a mobile or manufactured home in a park (with a land lease) with a mortgage. And there the land lease can be almost anything--from a few hundred dollars a month to over $800. Just depends on the park, the facilities, and what's provided.

Hope that helps.
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Sun May 5, 2013
Fred Griffin answered:
Many Real Estate Agents just want to "get the Listing".

It may be unethical, ignorant, or just poor business practice to take over-priced Listings.


Having said that:

We have always seen Real Estate increase in value, and during the boom of the early 2000's some of it doubled and tripled in value. But now prices are dropping like a rock, and the bottom is nowhere in sight.

Many Sellers are unable to face the reality that their property is worth significantly less than what they paid for it. It can be a real battle convincing sellers what their house is really worth in today's market.

Best wishes,
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Sat Aug 11, 2012
Francesca Patrizio answered:

From what I understand this market has been stagnated by a local tax war which could very well lead to the declinein sales.

I would ask:

(1) r u from North jerey?

(2) If so, why no consider other waterfront coummunities not so far south.

Call or email of u would like to discuss further.

Love and Peace,
Francesca, Realtor
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Thu Apr 30, 2009
Francesca Patrizio answered:

Your question is quite ambigious. More detail would be helpful in addressing your concern.

At times, websites can make mistakes and addressing your concerns can aide in getting any problems corrected.

I can assure you, it is rarely the intent of RE agents to be deceptive.

Francesca Patrizio
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Wed Jul 9, 2008
NonRealtor answered:
Houses are not generally good investments (unless you timed the bubble pretty good). It was certainly the worst investment for the 22 million people that bought at peak prices. About 9 million of them are already "underwater". ... more
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Tue Nov 13, 2007
ian cockburn answered:
Try Lloyds of may depend on whether the house is valued at over $500K.
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Tue Dec 14, 2010
Deborah Madey answered:
I know a good modular builder if you want to call me. I am a Realtor in Monmouth County.

Deborah Madey - Broker
Peninsula Realty Group
732 530-7755 Front Office
732 530-6350 Direct
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