Coastal real estate has nearly always been valued at a premium. There have been a raft of news stories recently that homes on the coast are losing their luster. Here's Business Insider with its take on the issue.
When Hurricane Sandy swept the coast of New York and New Jersey in 2012, entire communities were forced to rebuild. In the seven years since, government-sponsored initiatives like the US Army Corps of Engineers and NYC Build it Back have done a remarkable job of cleaning up these communities — so remarkable, in fact, that many seem to have forgotten about the devastation.
In the immediate aftermath of the storm, Sandy was at the forefront of buyers' minds.
"They wanted specifics," said Christina DeCurtis, a broker in Queens. "Were they required to have flood insurance? How did [flooding] affect the common charges? Was there an assessment?"
Years later, these questions have all but dissipated. Property values have continued to climb in tune with national and statewide trends. The market is hot — and coastal homes are seen as a top commodity.
