Nearly a year ago, my wife and I went for a drive in the next town over from where we live in Connecticut and stumbled across a slew of houses being modified to the FEMA Base Flood Elevation (BFE) . It was eye opening for me since I never envisioned a house – especially houses built 30-50 years ago – as so readily moveable. As a kid I had observed my dad have his real estate office moved 2 doors down so he could sell his lot to an adjacent condo developer….and 40-years later both of those buildings are standing.
Note all the”tall” garages.
It also raises valuation issues. How will an appraiser handle the valuation of the house next to the house that was raised? We may see the market apply a penalty to the house not on stilts in a flood zone.
This was a home being lifted last spring…
and with the work complete…
What would a potential buyer of the house next door (in a flood zone) think?