Buyout Appraisals Expected in February

Homeowners accepted into the first round of Blue Acres buyouts can expect appraisals sometime in February, according to Mayor John McCormac. 

Last week, Congressman Frank Pallone (D-NJ) announced $2.5 million in federal funding has been made available to the Department of Environmental Protection for the purpose of home buyouts in Woodbridge. 

That money isn't enough to purchase all the homes and isn't the total amount of cash available to residents looking to sell their flood-damaged properties, McCormac said.

Homeowners accepted into the buyout program should begin hearing about appraisals in February, he said. They may also be able to get their own appraisals and negotiate, but the process should begin sometime next month. 

A total of 89 homes in Woodbridge proper were accepted into the first round of Blue Acres buyouts. McCormac previously said that additional buyouts are expected this year.