Changes to Long Beach Island New Jersey

The Changing Face of Long Beach Island NJ

Changes to Long Beach Island New Jersey
Changes to Long Beach Island New Jersey

Nathan Colmer | The Van Dyk Group

Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com

Click here to search all homes for sale in the Long Beach Island NJ real estate market

 

Long Beach Island NJ and Hurricane Sandy

Long Beach Island sustained a direct impact from Hurricane Sandy at the end of October 2012 and has been undergoing some major changes! Hurricane Sandy caused major damage to the entire LBI area and the surrounding mainland areas which has caused many to rethink their futures on LBI. While very few homeowners actually chose to sell because of Hurricane Sandy, many chose to either raise their homes or build a new home on Long Beach Island. This will not only change the face of Long Beach Island, it will also impact the LBI NJ real estate market.

Changes to Long Beach Island New Jersey

In September 2012 Congress made substantial changes to the National Flood Insurance program. These changes penalized owners who were not currently at the new Base Flood Elevations. While not all homes on Long Beach Island need to be raised, these changes to the flood policy (and the damage caused by Hurricane Sandy) prompted many homeowners to raise their homes or tear down their storm damaged homes and build new. This has clearly changed the look of Long Beach Island in the following ways:

  • Many older Cape Cod style homes on the bayside have been lifted and new foundations have been built above the new Base Flood Elevations
  • Some homes on larger lots were not only raised but expanded to add bedrooms and living space to their home
  • Storm damaged homes were demolished and new construction built in their place

These changes, on the whole, are extremely positive for the Long Beach Island area and the greater LBI NJ real estate market.  It is a common truth that newer homes increase the overall value of a real estate market and with so much new construction taking place, the entire LBI area will benefit.  One would be hard pressed to drive down any street on Long Beach Island and not see some sort of redevelopment and investment taking place. Changes to Long Beach Island New Jersey will no doubt create a new positive environment for the real estate market and the enjoyment of everyone on Long Beach Island.

The LBI NJ Real Estate Market

Although some felt that Hurricane Sandy would be disastrous to the LBI real estate market, the real estate market and the economy have both seen substantial activity. If you are considering buying or selling in the Long Beach Island real estate market, feel free to contact me, Nathan Colmer, and I will be happy to help!

Nathan Colmer | The Van Dyk Group

Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com

www.BuyLBI.com

Click here to search all homes for sale in the Long Beach Island NJ real estate market

Related LBI Real Estate Articles