By Margaret Wagner
The morning after Hurricane Sandy, the first thing that came to my mind was, will my house still be standing? Next thing that came to my mind was, will there still be a real estate market for houses in Broad Channel? My fear was the banks would walk away from the area, and if that happened we would be back to the old days in Broad Channel, when people held private mortgages. As I walked to my house I could see it was standing, that was a good sign, it was completely destroyed but it was still there. We were a little more fortunate then some who lost their homes entirely to the hurricane.
As a lifelong resident, and the island realtor for almost 20 years, I was worried about our island community and its future, would people stay and rebuild or would they put their houses on the market and move? I was happy to see that most of my neighbors would stay and rebuild. In the coming months, as we put our house back together, I received calls about the market. People were asking how much could they sell their home for? Should they sell it as a handyman or should they invest some money to rebuild it and then sell? The questions from customers for the next six months were completely different then the questions were before Hurricane Sandy. I was able to help homeowners make decisions on whether to stay and rebuild, sell “as is” or invest some money to fix up the home and then sell it. A good realtor will answer all your questions honestly and to the best of their ability. The object is not just to get the customer to sell their home and make a commission, the object is to help homeowner make the best decision with their investment. A customer will always remember the realtor they felt most comfortable with, and if I don’t get the listing that day, that person will remember to refer me to someone or list their home with me in the future.
I was anxiously awaiting the sale of the first home after Hurricane Sandy. It was a home that was in contract before the hurricane hit. Lucky for the seller, buyer and Broad Channel residents the sale went through. We had our first recorded sale after the hurricane, and it helped keep the value of our homes. It was important to hold the value because so many young people had just purchased new homes. No one wanted to see a home once valued at $400,000 plummet to $100,000 over night. Some homeowners are still waiting for help from the Build It Back Program and as I walk past these empty homes, I wait for the day that I will see curtains on the windows and flowers in the garden. It has been a rough road but we are all coming back home and that shows that there is something very special about this island. I can count the number of sales since Sandy and shockingly there are not that many. The Broad Channel residents believed in their community and they loved their homes enough to rebuild them. Even residents, especially senior citizens, who did not have flood insurance policies stayed and rebuilt their homes.
A waterfront community is a way of life, I often say we are like pioneers in the cold winter months, but come springtime the community blossoms into another season of seashore living. A little over two years later and the Broad Channel housing market is on the upswing. Broad Channel homes can range in price from $100,000 to $550,000.00. There are a few new questions on buyer’s minds when they meet with me to view a home. You might think the number one question would be, “did this house get water?” It is not the number one question. The number one question is “how much water did this house get?” Most buyers are aware of the damage Hurricane Sandy did to our homes. When I answer with four to five feet of water, they politely respond with, “and all the sheetrock and insulation has been replaced?”
The buyers today are getting more upgrades for their dollar then they would have before Sandy. Buyers are now getting brand new heating systems, electric, flooring, granite counter tops, appliances, cabinets, and bathroom fixtures. Of course a big question on some buyers minds is, “do I have to raise this house?” The answer is, “it is up to you”. Yes, you will still be able to get flood insurance for it even if you do not raise it. The rates will vary depending on the height of the home, its location and whether you have a basement or not. Most homeowners in Broad Channel have moved back into their homes without raising them. Some residents are building brand new homes, some are waiting for the Build it Back program and a handful have sold.
I once thought to myself, would I ever get tired of selling Broad Channel? That week I realized, with every new customer I meet, how much I enjoyed telling them about Broad Channel and all it has to offer. They get excited about having a boat, jetski or a kayak behind their home. They ask me about about fishing, crabbing or swimming in the bay. We talk about all the sports programs under the management of the Broad Channel Athletic Club. I tell them about our school, churches, volunteer firehouse and all our other wonderful organization. I enjoy telling them about the local yacht clubs where they can launch their boats in Jamaica Bay, jump in for a swim, and enjoy the extraordinary island sunsets. It’s not just a home you are buying it’s a lifestyle.
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