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After Sandy, some dump homes, while others hunt for bargains
http://www.reuters.com/article/2012/11/20/us-storm-sandy-realestate-idUSBRE8AJ10620121120(Reuters) - "Reduced for Quick Sale!" reads Mike Montalbano's Craigslist ad for the three-bedroom home he needs to sell before he can relocate for a new job.
The drywall is new, as are the appliances. The only problem? Location. Montalbano's home is in Tom's River, New Jersey, which was pummeled by last month's Sandy megastorm.
"A lot of people are scared to come back to the water," says Montalbano. "Back in the day, everybody wanted to come to the shore. Now it's a mess down here."
Montalbano was lucky. His home sits higher than others, and the storm waters hit his lawn but did not make it into his house.