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Useable Property or Just Another Swamp?

Do you want to sell your property to a developer for the most possible profit? What seller wouldn't want to get the most money for their property?

I cannot tell you how many times I see a property priced for sale like the entire property is 100% usable. This is a near impossibility for Whatcom County Real Estate and Skagit County Real Estate. The wetland review in the planning and permitting departments of Skagit County, Whatcom County or incorporated city limits is where you will find out how much useable land you actually have.

A current wetlands study, or at minimum a wetlands reconnaissance will help determine what can be done with a property if anything.

Developers just don't buy properties anymore without knowledge of the amount of wetlands that may or may not exist on a property. It may look like a grassy field but it may have soils that are conducive to wetlands and be as protected as a swamp.

If you want to sell your property for the most, pay the biologist to do the work. You will get the most possible money for the property if the buyer knows they are actually buying real estate and not air.

KC Coonc, Associate Broker

Windermere Real Estate - Bellingham

Windermere Commercial Real Estate - Bellingham

Posted by KC Coonc, Bellingham Commercial Real Estate on 10/22/2007 06:31 PM

Comments (10)

bellingham commercial real estate, bellingham real estate

This post has been included in Washington Information

10 Comments on Useable Property or Just Another Swamp?

OCT

2007

I couldn't agree with you more. Short statement; deeply felt.

Don't forget that there are buyers out there for wetlands to use as banks for mitigation and similar purposes......

OCT

2007

Julie - You are right on that. The Blog would have been a little longer than I wanted if I would have gotten in to the subject of usable wetlands. In Washington we call them Transfer of Development Rights, or for short, TDR's. The criteria for the transfer of wetlands into development property by means of purchasing another property and enhancing the wetlands onto the other property is complex and often costly. Specifics usually are an enhancement of 1.5 times the loss amount with deed restrictions, survey, and management plan and more. The transfered property also must be in the same drainage basin on top of that. Anyway, another very detailed subject. Thanks for you comments.

OCT

2007

KC, it's funny to read this. My brother, Jack Kennedy, was one of the Army Corps of Engineers wetland guys, and you're right, it's not all that easy to navigate the wetlands issues.

Patricia - If your brother was with the Army Corps of Engineers then he likely saw a lot of changes over the years. Especially regarding dredging navigable waterways to alleviate flooding.

Speculation still exists KC but people are much wiser than a few years ago. I don't see developers plopping down cash and they seeing how to use the property. The days of hoping for a variance are gone. Great post KC.

I agree with you and I notice those are some of the ones that sit on the market for a long time.

Teresa - Kind of funy that you mention the properties without wetlands studies sit on the market longer. I should have included that in the Blog since it is a very true fact. Thanks for your addition.

KC - You are dead on. It is nearly impossible to sell a property without a wetlands or critical areas study. It also helps if you flag the corners, thin the trees & level a home site.

NOV

2007

KC, I know what you mean about pricing land like it's all the same. I knew a guy with about 50 acres and about 20 of it was in a bad flood plain. Yet the $ per acre of that portion was the same as the good stuff. Made no sense!

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