Risk map shows NJ vulnerability [AUDIO]
In a nationwide, county-by-county map, New Jersey is one solid orange blob, meaning every home can easily become the victim of a natural disaster.
The report from RealtyTrac, an online housing data site, assigns a risk score to housing markets throughout the country, based on their vulnerability to hurricanes, tornadoes and earthquakes. Every New Jersey county was placed in the “high risk” category, with total scores ranging from 40 to 45 out of 75.
“What’s driving the higher risk in New Jersey, in all the counties, is all of them are at very high risk for hurricanes,” said Daren Blomquist, vice president of RealtyTrac.
Blomquist said the report can be used as a tool by potential homebuyers and sellers, as well as owners who want to stay a few steps ahead of Mother Nature.
“At the end of the day, if there’s a risk that the property can be damaged or even destroyed by a hurricane, you want to know about that,” he said. “Make sure you have either insurance in place to mitigate that risk, or, to the extent that you can, make improvements to the property to protect against any damage.”
The report found no solid correlation between risk and home values, however. In fact, some of the highest prices were found in highest-risk areas.