Where the only thing we overlook is the ocean. SUMMER 2017
THE LEADER FOR GENERATIONS SINCE 1929
Dear Property Owner, On September 30, 2017, the National Flood Insurance Program (NFIP) will expire unless a bill can be passed in Congress to extend it. However, there are quite a few obstacles in the way to finding a financial solution for the overextended program. Initially, it was supposed to be self-funded, but has, unfortunately, relied heavily on its ability to borrow from the United States Treasury…to the tune of over $25 BILLION. The program, created in response to the private sector’s reluctance to underwrite the many challenges of the complexities involved with insuring flood events, has never been able to calculate correctly the premiums to cover the massive claims associated with catastrophic disasters like Katrina and Sandy. This past April, some headway was made in trying to make the NFIP more actuarially sound with the implementation of increased premiums based on updated rate maps and providing rating clarifications on properties newly mapped in the Special Flood Hazard Area. Nevertheless, much more is needed to fix this broken program that has harmed many of the people it was intended to protect with the delays, denials, and disputes they encountered after Sandy…. Senator Mendendez has proposed many encouraging reforms for the program, however given his current legal problems his ability to follow through may be affected. Therefore, all of us here at the shore should at least contact our other elected officials and encourage them to follow through with NFIP reforms and find solutions before September 30, 2017. On a bright note, our shore real estate market is definitely heating up. Sales are booming and I think we are in the midst of an appreciation climb which was waylaid and stalled by Sandy 5 years ago. If you were thinking of selling in the recent past and received a market analysis a year or two ago but held off, ask for another and you may be pleasantly surprised. In any event, please feel free to contact me for any of your real estate needs. I’ll be happy to assist you in any way I can.
Andrea Schlosser, President
Andrea Schlosser, Broker Distinguished Sales Club Circle of Excellence 2016 Gold • 2015 Gold • 2014 Gold • 2013 Gold • 2012 Gold
LAVALLETTE
LAVALLETTE
ORTLEY BEACH
Oceanfront New Construction! - Gorgeous oceanfront home to be built on oversized 50x150 lot. Plans are still fluid and subject to change but thus far house will be approximately 4,000 sq. ft. with five BRs. six BAs, den, kitchen, living/dining, game/media room, deck, and optional pool. All tops of the line materials and finishes. Can view two other homes in town built by this builder upon request and appointment. $2,799,000
New Construction - Another quality luxury new construction by MGC Development, the builder of 1202, 1204, 1206 Ocean Front. Shore Dutch colonial style home offers 5 BRs, 3 BAs, hardwood floors throughout, gas fireplace, coffer ceiling in the great room, solid wood doors, crown molding throughout, library paneling, high end kitchen with granite counters and center island, high hat lighting throughout. $1,599,000
Bay Front! - Out of the ordinary describes this bayfront beauty! It overlooks the open bay, West Point Island, and offers protected harbor by natural reed islands. This family compound boasts top of the line everything. Outdoor backyard playground has a new vinyl bulkhead, two docks with deep water dockage, sandy beach, hot tub, pavered patio with a gorgeous summer kitchen, beautiful aluminum fencing and lovely cedar outdoor full BA. $2,399,000
600 Grand Central Ave., Lavallette, N.J. 08735 • 732-793-7755
www.SchlosserRealEstate.com