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I hope this is the right thread for some of my questions. It appears there is a feud going on here, which I hope to avoid. Thanking you in advance.
My sister bought a house in Lavalette last year for $500k, right smack dab on the water. It was on leased land for $15,000 per year. I told her she was crazy but my brother obviously had more influence on her at the time so she went with his plan to buy a house and make a fortune in rentals while the house appreciated in value.
Anyway, now the house is gone. It was bulldozed yesterday. My boneheaded brother is supposed to be helping her arrange having a new house built, which she says now she'd like to sell upon completion.
Does anybody know any details about Governor Christie's buyout plan?
A rebuilt house will likely require pilings in order to avoid $30k annual insurance premiums. Who pays for those? She seems to think the government is picking up the tab for that.
She had flood insurance. Will it cover re-building costs?
Has the infrastructure been replaced yet? Electricity, cable, water, sewer?
Are people being reimbursed for loss of rental income, payment of leases, taxes, etc?
She seems to think she'll come out of this in one piece. I am so pizzed that she bought the house in the first place that in a way I hope she learns a hard lesson about not doing enough research before jumping into another one of my brother's hare-brained schemes.
As far as the pillars for elevating the home they are still in talks debating how high they need to be based on the locations of the homes and I believe the home owner is responsible for that cost. Pretty sure most of the utilities are up and running in that area. Doubt she will come out of this even - it will cost her money in the end, even with insurance/FEMA assistance, especially if she has to raise the foundation. I've heard a lot of people complaining about that - that their insurance companies are already screwing them and now this additional cost of raising their homes on top of it is going to lead to many people selling since they can't afford it. But it's something that needs to be done - the raised houses suffered much less damage than the others in this storm so it's a proven theory that it does work. Others can chime in for the rest of your questions as I don't know the answers.
Seriously CaptainNJ, do you have no sense of shame? You mocked people in preparing for Sandy, trivialized the entire storm, and now you keep going in the same thread -- "saddened" that a restaurant won't be back and giving trite food reviews of shore restaurants? That NPD is showing again.
this is my lbi thread now. maybe someone can change the thread title. im also saddened by the loss of charles seafood garden. i remember i was just a lad when upon seeing their sign advertising "angus beef" my dad asked whats special about that. the waittress said that they are one of only 200 restaurants in nj to serve angus beef.
As far as the pillars for elevating the home they are still in talks debating how high they need to be based on the locations of the homes and I believe the home owner is responsible for that cost. Pretty sure most of the utilities are up and running in that area. Doubt she will come out of this even - it will cost her money in the end, even with insurance/FEMA assistance, especially if she has to raise the foundation. I've heard a lot of people complaining about that - that their insurance companies are already screwing them and now this additional cost of raising their homes on top of it is going to lead to many people selling since they can't afford it. But it's something that needs to be done - the raised houses suffered much less damage than the others in this storm so it's a proven theory that it does work. Others can chime in for the rest of your questions as I don't know the answers.
There's some information about the pilings in here:
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