A and AE Flood Zones on LBI NJ
Flood Zones on Long Beach Island New Jersey
Flood zones were established by the National Flood Insurance Program (NFIP) and the Federal Emergency Management Agency (FEMA) to help understand the risks associated with areas of the United States located in a flood zone. Surprisingly, according to FEMA, we ALL live in a flood zone. The delineation takes place when determining if we live in an area of low, moderate or high risk for flooding. Long Beach island NJ is grouped into two primary flood zones. They are an “A” flood zone and a “V” flood zone. Interestingly enough, there are even a few “X” zones on LBI which require little to no flood insurance! AE Flood Zone on Long Beach Island NJ are generally considered to be the “less risky” areas on LBI and therefore they have a positive relationship when considering AE Flood Zone on Long Beach Island NJ and the LBI Real Estate Market together.
A and AE Flood Zones on Long Beach Island NJ
FEMA defines an A and AE flood zone has having a 1% chance of an annual flood (it is partly from this definition that the term “100 year storm” comes from when speaking of Hurricane Sandy). Homeowners in an A or AE flood zone on Long Beach Island can expect the following:
- Flood insurance rates on LBI will be less expensive than a “V” zone
- Building codes will be less restrictive in an A or AE flood zone on Long Beach Island.
- Breakaway wall foundations are not required (although they are recommended)
Flood insurance in an A or AE flood zone is less expensive than a V zone due to FEMA’s interpretation that flooding, when it occurs, will be less destructive. In order for a property to be zoned to a V zone on LBI, FEMA must ascertain that the property is subject property will sustain the direct impact of a 3 foot or higher wave. in the eyes of FEMA, properties on LBI in an A or AE flood zone do not share this risk. It is for this reason that homes in A and AE flood zones can be built on a solid block foundation with flood vents rather than the break away wall system required in a V zone. For some buyers, an A or AE Flood Zone on Long Beach Island NJ will be more attractive in the LBI Real Estate Market.
AE Flood Zone on Long Beach Island NJ and the LBI Real Estate Market
The LBI real estate market on Long Beach Island NJ has become very reactionary to flood zones and flood insurance in the wake of Hurricane Sandy. Many buyers are concerned with the potential for flood insurance rate increases and the impact these increases will have on the future value of the Long Beach Island New Jersey real estate market. The good news is, most homeowners will see very manageable rate increases. I discuss Flood Insurance on Long Beach Island NJ and Who Will Pay More for Flood Insurance on Long Beach Island NJ in the attached articles. If you are considering buying or selling real estate in the LBI real estate market on Long Beach Island, it is helpful to understand your flood zone and the impact your flood zone and flood insurance will have on the sales price of the house.
If you would like more information about AE Flood Zone on Long Beach Island NJ and the LBI Real Estate Market please feel free to contact me, Nathan Colmer, anytime. You can also Click Here to Search All Homes on Long Beach Island NJ in the LBI real estate market.
Nathan Colmer | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | firstname.lastname@example.org
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