House Ideas

The Biden administration is proposing a massive overhaul of federal flood insurance that would prevent the government from insuring newly built homes in flood-prone areas and would drop coverage for homeowners who receive repeated claims payments.

The administration also is proposing a nationwide disclosure law that would require homebuyers and renters to be told about a property’s flood history before they buy or lease a residence. And no new federal flood insurance policy could be written for any commercial building, regardless of its location or construction date.

The proposals, contained in a 104-page legislative package sent recently to congressional leaders, are the most dramatic attempt to restructure the government’s National Flood Insurance Program since its creation in 1968.

The NFIP provides most of the nation’s flood insurance, covering nearly 5 million properties. It also has historically charged discounted premiums that do not reflect the actual flood risk of properties. The

North Jersey’s housing market is showing signs of stabilizing after two frenzied years, thanks to rising mortgage rates.

But when you’re hot, you’re hot.

Whether due to location, luxury offerings, access to New York or other factors, some towns remained in demand last month, even as the market normalized following the Federal Reserve’s biggest interest-rate hike in 22 years.

Compass Real Estate of Ridgewood compiled data on home-price appreciation in Bergen County for May, using the New Jersey Multiple Listing Service Inc. Using a cutoff of at least 10 closed or pending sales in each municipality, we identified these five municipalities where prices kept jumping. Compass agent Max Stokes explained their appeal:

Fair Lawn

The borough, known for easy highway access and shopping, is centrally located in the county and convenient to downtowns such as Ridgewood and Glen Rock. The median sale price of the 33 homes sold in Fair

The BDN is exploring Maine’s housing crisis from every possible angle, from how it affects home prices, to what it means for Mainers across the state. Read our ongoing coverage here and fill out this form to tell us what you want to know.

Loons, dragonflies and lapping water are drawing buyers to Maine’s lakefront properties, which are seeing strong sales at up to double the price of homes not on the water.

Comprising 60 lakes across 20 towns, the Lakes Region of southwestern Maine saw all lakefront homes sell for over the asking price in 2021 for the first time, said real estate agent Diane Monaco, who compiled data on the region for her employer, Maine Real Estate Choice. The region includes Sebago Lake, Maine’s second-largest lake after Moosehead.

“People want to boat and sit out on their dock and enjoy the peace and quiet,” she said. “It’s a