Mandeville (Slidell, Covington, Abita Springs: real estate market, insurance, homes)

[CookieBoss80]

Why these waterfront properties stay on market for so long? Is it high price, flood threat or dead real estate market?

[rburnett]

Flooding can be an issue if you live close to the lake and not just during hurricanes. A strong south wind can push water over the seawall and onto the first few blocks.

Flood insurance can be very expensive if the home is not above the required flood elevation. That number can be around 12-18' above sea level depending on the specific zone and a lot of older homes are not raised that high.

See Mandeville flood zones: http://www.callwayneturner.com/agent...st%20Flood.jpg

[CookieBoss80]

Older homes make sense but one wonders why people build new million dollar mansions and then try to sell when it's so difficult to sell. I'm guessing flood insurance is peanuts for these owners. Another surprising thing is property tax, why are properties so undervalued for tax purposes?

[rburnett]

Originally Posted by CookieBoss80

Older homes make sense but one wonders why people build new million dollar mansions and then try to sell when it's so difficult to sell. I'm guessing flood insurance is peanuts for these owners.

Flood insurance IS peanuts as long as your lowest floor is above the flood elevation. New construction homes are usually built at the proper elevation with a "raised basement".

[recycled]

I was a visitor to beautiful Mandeville a few years ago. It was my starting point for a ride along the Tammany Trace bike path that goes near the lakeshore to Slidell, and also up to Abita Springs & Covington heading north. I also pedaled around the mostly quiet streets of Mandeville, and of course stopped for lunch in town.

I also remember stopping and watching an older home less than 3 blocks from the lake that was in the process of being raised way, way up on new piers to get above the flood level. That was real interesting to watch. The crew doing the job had all sorts of specialized jacks and equipment to get the job done - a group of experienced pros. I am sure it cost a healthy (and probably fair) sum of $$ to get that job done, but I guess in the event of a bad storm, it pays off.

Mandeville is a beautiful place with lots to offer, but I am sure the flood danger would make a lot of people add up the pros and cons of living in the historic area near the lake, especially if they noticed how high a lot of the homes have been raised. I am guessing the homes that have not have been raised up would be the ones that are harder to sell. And if you buy a home that is raised way up, that's a fair amount of stair climbing every day. Lots of pros & cons to consider, but I was just a daytime visitor, so that's just what I noticed on first impression.