I have been specializing in New Construction sales for as long as I have had a real estate license, my family history of building homes here in Sea Isle is over 50 years old and my brother is still the largest builder here in town. So you think that would put me in a position to understand what is happening right now with FEMA and the State of New Jersey as the aftershocks of Hurricane Sandy continue to be felt. I met with a prospective customer yesterday at my brothers office and when he was done explaining things I still could not get my head wrapped around what he was saying.
So much of what has been written and talked about has been specific to Insurance costs and how Sandy would effect rates. The Governor sent a dictate down the line declaring that New Jersey would adopt the FEMA position lock stock and barrel. Some communities resisted more than others but all that aside the initial effect of this declaration was temporary paralysis in the builders community. They could not in good conscience start building someones home without knowing how the local inspectors and then eventual insurers would respond to these buildings. Now things are beginning to calm down and projects are beginning to move forward, but still a little bit under a cloud of uncertainty. Whole sections of town have been declared V Zones. The V zone used to be almost the exclusive province of beach fronting homes south of 57th street. The houses behind the promenade were not in that zone as the promenade served as a protective barrier. Now the entire bay front has been included in the V Zone along with other lower lying areas here in town. If an owner called me on the phone today, It would be just a little bit less comfortable for me THEN IT WAS ON MY FIRST DAY WITH A REAL ESTATE LICENSE. That is how confused I still am. I don’t like how that feels so now I guess I have to go learn something which shouldn’t happen to a 55 year old man. I should be getting comfortable. I’ll try to share what I find out. Maybe build a small website for owners with detailed maps and things like that. I’m glad I am a day at a time type of guy or this stuff could make me crazy. Ill be in touch.