2+ Years LaterYour Questions. Our Team.

Thanks to OceanFirst & Agenda:

1. Why we assembled this team2. Brief introductions & areas of specialization3. Open Q & A4. Wrap up 5. One-to-one Q & A6. Close

CONSTRUCTION OR LAND

LOAN TO PURCHASE OR REPAIR A DISTRESSED

HOME Jason KellerLoan OfficerOcean First BankNMLS ID: 960126732-240-4500 ext. 7226Your Local Lender

Construction loan•The customer has a guaranteed interest rate at the closing and has up to a year to finish the home•During the construction phase the customer pays interest only on the amount of money he/she has borrowed•The bank values the property according to the completed appraised value giving the home instant equity and holding property values steady•The customer can buy and close on the property using a conventional mortgage

Lot loan•No builder required – Buyer owns land•No plans, specs, permits, etc…•No escrows•65% of purchase price

Conventional Mortgage/Equity Loans•Best option for second homes•Equity line on your primary home, then refinance second home after C/O•Can be combined with a construction loan for appropriate reserves

Other programs•Grants/SBA loans/ICC money•203k•HomeStyle renovation loan

Richard DomanicoNJ State Certified Appraiser

www.rmsappraisals.com

Immediate Impact➢Damage Inspection

Reports

➢Lack of Comparable Data

➢Lack of Historical Data

Restore the Shore

✓New Flood Maps & Base Elevations✓Impact on Insurance Premiums & Value

TO RAISE OR NOT TO RAISE?

Where Are We Now?

12 Month Period Pre-Sandy:➢Median Sale Price $408,500➢Total # of Sales 42

Most Recent 12 Month Period➢Median Sale Price $366,250➢Total # Sales 31

12 Month Period Post-Sandy➢Median Sale Price $240,000 ➢Total # of Sales 22

Buying & Selling Waterfront & Coastal real estate is unequivocally in a class of its own.

We specialize in Waterfront & Coastal homesPeter Lo Bello, the Director of “Properties of Elegance & Distinction”

Of Coldwell Banker Flanagan Realty’s team of waterfront and costal real estate experts. Peter is happy to share his insight and knowledge in selling or buying waterfront / coastal properties.

365,000 properties were damaged by Superstorm Sandy. The vast majority are those located on or near coastal waterways. These properties have many unique issues which are

quite complicated. These include lands that have formerly been flowed by tidal water and are subject to State claim, riparian issues including riparian grants, riparian rights and

involving areas which are currently flowed by tidal water. These properties can subject to licensing by the State and new Federal flood maps which substantially change elevation

recommendations and requirements for structures located in flood zones. Many of the State and Federal licensing, maps, rules and regulations have changed over the past two

years, keeping current is imperative.

Many Real Estate agent’s simply lack the expertise necessary to properly consider the myriad of issues facing buyers and sellers of waterfront properties. It absolutely takes a team of professionals to provide proper guidance and accurate information.

James Flanagan is the Broker of Record for Coldwell Banker Flanagan Realty, with two offices in Ocean County, NJ. Jim is a leader of an award winning team of "Full Time" real estate

professionals. "Our success is a direct result of our service!" For over 36 years, Flanagan Realty has been servicing the selling and buying needs of the shore region. We are partnered with

Coldwell Banker's 109 years of real estate experience and innovation.

Coldwell Banker Flanagan Realty’s Properties of Elegance & Distinction offers the "Best of both worlds!" We have the power and reputation of the nation's leading real estate brand

combined with the professionalism and skill of the area's best real estate agents. Our elite team, Properties of Elegance & Distinction division is a direct reflection of our knowledge and

professionalism for our waterfront and coastal communities.

Peter lived on Long Beach Island during Superstorm Sandy, he understands the needs of waterfront & coastal property sellers / buyers as well as the recovery process.

Call Peter at 973-906-2928 or office at 732-270-6100 – or write peterlobello1@gmail.comPeter Lo Bello, Realtor Associate & Director at Coldwell Banker Flanagan Realty

1541 Route 37 East, Toms River, NJ 08753If your property is currently listed with a Realtor, please disregard this notice. It is not our intention to solicit the offerings of other Brokers.

➢ Free site evaluation, letting you know what size home will fit on your lot and research any requirements➢ Free home design time➢ We will build you a quality home, in a timely manner, within budget and communicate with you every step of

the way➢ Build or customize one of our plans, Build from your plan, Design and build one together➢ Site built or Modular built homes➢ Prior to signing your agreement, we will provide you with complete pricing including all requirements and

options

Whether you are rebuilding from Superstorm Sandy or have always wanted that home by the shore, Dakan Homes will bring expertise to your build. With over 30 years design and building experience, you can trust Dakan Homes to guide you through the entire processAsk for our complete set of over 30 home plans including duplex and quad

RREM: Rehabilitation, Reconstruction, Elevation & Mitigation

➢ 1.3 Billion in federal funding to help eligible primary home owners repair or rebuild● As of 8-1-13 applications closed and over 9000 applicants applied

➢ Provides eligible primary home owners grants awards up to $150,000.00 ➢ Calculations for the award takes into consideration the money received from other sources such as insurances, FEMA, ICC, SBA, non-

profit, etc.➢ By accepting this grant award, it is required to maintain flood insurance for the life of the structure. ➢ Anybody that signed into the program on 7-1-2014 or after is allowed to select a contractor of their choice, providing they are registered

and licensed in the state of NJ➢ You may request 50 % of you award to be disburse to you after signing your agreement➢ Up to three payments will be made directly to the home owner throughout the repair or rebuild period➢ Allowed one year to finish repair or rebuild from date of agreement➢ Homes must be repaired or rebuilt to a certain set of specifics and inspected at final payment request

ICC: Increased Cost of Compliance

➢ Flood insurance policy holders in high-risk areas or 50% damage, can get up to $30,000.00 to help pay the costs to bring their home into compliance

➢ This applies to Elevation, Relocation(moving the home) & Demolition➢ You may receive partial payment once the claims representative has a copy of your signed contract for the work

LMI: Low- To- Moderate Home Owner Rebuilding Program➢ This program was to aide people who didn’t apply to RREM or had mobile home damage➢ Program closed 3-21-2015

GFI: This was designed to offer additional grants to some RREM members (closed 11-1-2014)

CDBG: This was designed to get people to stay in the area (closed 8-1-2013)

SHARP : This was interest free money for new buyers to come in (closed 9-3-2013)

Substantial Damage

➢ Damage equal to or more than 50% of homes pre- storm value (home only)

➢ This is determined by the municipality floodplain manager and letters were sent out

➢ Home must be elevated 1’ above the FEMA 100 year flood level (or elevate consistent with local code rules, which ever higher)

➢ Home must be brought up to current building codes

➢ It may not be cost effective to raise existing home rather tear down and rebuild

➢ Applies to homes whether having flood insurance or not

➢ There is a 4 year window to come into compliance

➢ Sign letter of acknowledgement, fix up home and from that point 4 years to raise home

➢ If you feel the letter is incorrect there is an appeal system ● If not 50% and no mortgage home may be able to stay as is● If not 50% it may affect your RREM grant amount

➢ Penalty for doing nothing will be no permits issued and possibility of fines imposed.

FOUNDATION CHOICES

New Construction➢ Soil test required ➢ Engineering review➢ Choices depending on soil, engineering, home owner preference and budget

● Typical footing and block foundation● Wood pilings or helical installed to grade, concrete grade beam poured and lay block up to look like typical foundation● Wood or helical piling to grade and concrete pilings above grade● Wood pilings driven into the ground and left above ground to support home

Raising Existing Home➢ Soil test required first➢ Engineering review➢ Choices depending on soil, engineering, home owner preference and budget

● Can existing foundation stay, raise home and add onto existing block ● Raise home remove existing foundation install new one● Raise home remove existing foundation install helical pilings, pour grade beam and lay up foundation wall● Raise home and move from foundation location, install wood pilings move home back onto piles

We have knowledge of all foundation styles and will work with you and the engineer and/ or architect to help choose the foundation that works best for your situation.

MODULAR & SITE BUILT HOMESSite Built Homes

➢ Home constructed on site

➢ Customization can be done during the building process

➢ Value engineering can be achieved

➢ More options for room configurations

➢ No concerns over transportation or power lines

Modular Built Homes

➢ Home is constructed off site in a climate controlled factory

➢ Home is inspected by 3rd party in factory

➢ Home can be set and weather proofed the same day

➢ Saves approximately 3 months over a site built home

➢ No concerns over rain or snow

We pride ourselves on building a home that will fit your lifestyle whether you purchase a site built home or a modular built home. We are experts in both and can help you make the right decision.

Dakan Homes Offer Both Modular Built and Site Built HomesBoth Can Be Customized to Your Individual Wants & Needs

Servicing New Jersey & Pennsylvania

Specializing in FEMA Elevation Certificates and Superstorm recovery.

Having lived in Ocean County for over 20 years and affected by Superstorm Sandy ourselves, we have the knowledge necessary to help you with all your FEMA questions, elevation certificates, rebuilds and paperwork for RREM grants.

Blue Marsh Associates provides a wide range of surveying services for property owners, municipalities, and real estate attorneys, as well as engineering, title, and insurance companies. We service residential and commercial properties. Whether you require a boundary survey, a flood elevation certificate, condominium certification, a topographical survey or any other surveying service Blue Marsh Associates, Inc. is able to

provide our clients with the highest level of professionalism and accuracy in a timely manner.Pennsylvania Office:P.O. Box 563 - Tabatha DriveWarrington, PA 18976-2370215-278-4058 (Direct) 215-343-0218 (Fax)

New Jersey Office:1541 Route 37 East, Suite 'B'Toms River, NJ 08753

215-278-4056 (Direct) 732-929-8915 (Fax) BLUEMARSHASSOCIATES.COM

Foundation TitleOffice: 732-818-3790

Fax: 732-818-3792www.ftnj.com

Title insurance is a form a indemnity insurance which insures against financial loss from defects in title to real property.

Title insurance is principally meant to protect an owner’s interest or a lender’s financial interest in real property against loss due to title defects,liens or other matters.

It will defend against a lawsuit attacking the title, or reimburse the insured for the actual monetary loss incurred, up to the dollar amount of insurance provided by the policy.

Buyers• When purchasing a property of any kind

Borrowers• When refinancing a property

• Gaps or errors in chain of title• Impersonation of alleged property owner• Undisclosed heirs• Improperly recorded documents• Encroachments, overlaps or boundary disputes• Issues of rightful possession of land• Debts or claims of debt• Virtually any dispute regarding correction of ownership, debts, judgments, or liens

One Time Fee Paid at SettlementTwo Types of Rates

• Basic Rate• Refinance (for refinances only)

*Rates established & set by the NJ Department of Banking and Insurance

For PurchasesAfter attorney review (ordered by Buyer, Attorney or Realtor)

For RefinancesAfter appraisal (ordered by Borrower, Attorney or Loan officer)

Walter G. LaCicero,Attorney at Law

1606 Grand Central Avenue #4Lavallette, NJ 08735

732-793-2557

Walter is a Real Estate attorney with a practice located in Lavallette, NJ. He has participated in over 5,000 real estate transactions, most of

which involved properties located at or near the shore. Walter is an expert in coastal and waterfront properties.

Many attorneys who are located outside of the shore area simply lack the expertise necessary to properly consider the myriad of issues facing

buyers of shore property.

Walter G. LaCicero is also the Mayor of the Borough of Lavallette, NJ, a small resort town severely impacted by Superstorm Sandy. He has been

intimately involved in the drafting of new regulations necessitated by changes in the National Flood Insurance Program and the forthcoming

issuance of new flood maps. The issues include increased elevation requirements for new construction, new construction techniques for

structures located in flood zones and increased insurance rated for existing properties.

Walter G. LaCicero has great familiarity with all of the issues facing prospective buyers of shore properties and his familiarity makes him the

logical choice for handling complicated shore area transactions.

Q & A

THANK YOU