The Mayor’s office and the Attorney General’s office have come to a settlement with the Engineering firm that was responsible for oversight during the construction of the Plum Island sewer system. The CDC Smith Inc. has agreed to pay the City $5.5 million, with $200,000 going to the State. The corrective work has been going on for some time but this will allow the work to be finished to prevent the problems we experienced 2 years ago. Great news for homeowners, and future homeowners alike.
Plum Island sales have been strong, and it continues to be a very desirable spot to buy a home. Unlike many beach destinations, traffic woes are non-existent, and since parking for the general public is very limited, homeowners on the Island enjoy wide expanses of peaceful beach.
Buyers are often concerned about the risks of owning a home on a barrier beach. The erosion on the ocean side is an ongoing concern that will never go away, and with climate change and rising sea levels is an increasing concern. Direct oceanfront homes are of course the greatest risk. New homes are being built on pilings, which greatly reduces the risk, but in particularly severe storms the erosion can impact the land underneath. Flood insurance will cover $250,000 in property damage, but lost land is lost land. The basic side of the island is relatively protected from storms, so as long as we are not hit by a disaster like Hurricane Sandy, homes there seem safe. Remember that $250,000 insurance will go a long way in covering damage to a house.
Amazing new homes are being built on the Island and with its proximity to downtown Newburyport it’s a great place to buy. If you want help buying or selling a home there, please contact your local expert Realtor, John P. Wells of Wellsco Realty of Newburyport at 978-518-1481 or firstname.lastname@example.org.