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People want to live by the water anywhere. Here, Cali, florida, Costa Rica. It doesn't matter.
I'm amazed at the arrogance/greed that still prevails. Saw a house in Hicksville yesterday. Nice enough, nothing truly special. Zillow is $389k which I think is reasonable. Bought in Dec. 2012 for $256k. Generically updated (clearly being flipped) and now asking...hold your seats....$539k! Homes on the block are estimated at $275k to $500k. I just wonder if they REALLY will hold out for that much or if they are just testing the waters. NO ONE is paying $539k for that house in that location (2 blocks off Bloomingdale Rd industrial area). No way, no how.
People want to live by the water anywhere. Here, Cali, florida, Costa Rica. It doesn't matter.
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Yep this is true. FL is one of the most hurricane flood prone states in the US and that dosent stop beachfront properties from dotting the coastline. Plus if a few years go by without any major storms people tend to forget very quickly.
I hope everything gets back to normal. I had planned to put my house on the market this spring until Sandy hit. My place wont be ready until June or so with the pace the repairs are currently going. Still haven't been paid by my insurance so I'm paying out of pocket for repairs for now so it's slow-go. This sucks. I'm south of Merrick Road but nowhere near water and in an area that never flooded until Sandy. I'm in an AE zone but on the flood map I'm only a few blocks from the X zone(no flood risk). I'm already seeing a few for sale signs popping up by me as home repairs are completed. Very curious to see how things go with sales/pricing here.
. Plus if a few years go by without any major storms people tend to forget very quickly.
So true. People will tell themselves - "oh those years were just a fluke" and back to business as usual as long as they can pay the flood insurance because FEMA is not gonna forget!
So true. People will tell themselves - "oh those years were just a fluke" and back to business as usual as long as they can pay the flood insurance because FEMA is not gonna forget!
Yep I saw it firsthand in FL. We got hit (the state) by like 5 hurricanes in 2004. My area got slammed by 2 cat 2 storms in like a months time. We were told the same things: this will be the norm every year, expect these storms more often blah blah blah.....then year after year went by with little or no hurricane activity. Same aftermath too, major gas shortage, widespead power outages (yes even with newer underground utilities, not the magic bullet some think it is), horrible coastal flooding. Everyone was saying the same things, who will ever buy on the coast again? etc., and guess what houses and condos still dot the coast line (and go for the highest prices), and that horrible hurricane season is now a distant memory for most. People move on quick. The same will happen on LI.
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