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Useable Property or Just Another Swamp?

By KC Coonc

Commercial Real Estate Agent with Windermere Real Estate/Whatcom, Inc.

October 22, 2007 11:31 AM

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

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M. Suzi Woods (Gravenstuk)

NOW Sharing the life and spice of the GC one day at a time - Grand Canyon, AZ

Suzi Woods, Prior Independent REBroker in MS

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

Oct 22, 2007 11:38 AM

Julie Chapman

Julie Chapman Broker - Ormond Beach, FL

Daytona Beach Shores, Florida

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

Oct 22, 2007 11:57 AM

KC Coonc

Windermere Real Estate/Whatcom, Inc. - Bellingham, WA

Bellingham Commercial Real Estate

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 23, 2007 06:35 AM

Patricia Kennedy

RLAH@properties - Washington, DC

Home in the Capital

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.

Oct 24, 2007 02:10 AM

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.

Oct 24, 2007 05:10 AM

Gary White~Grand Rapids Home Selling Pro Call: 616-821-9375

Flexit Realty "Flexible Home Selling Solutions" - Grand Rapids, MI

Real Estate Services You can Trust!

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.

Oct 24, 2007 10:04 AM

Teresa Lyons

Keller Williams Realty - Kirkland, WA

#1 Real Estate Team in Washington State

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

Oct 24, 2007 12:48 PM

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.

Oct 24, 2007 02:20 PM

Ryan Martin

Pacific Continental Realty, LLC - Bellingham, WA

Bellingham Commercial RE Broker

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.

Oct 24, 2007 03:25 PM

Gary Woltal

Keller Williams Realty - Flower Mound, TX

Assoc. Broker Realtor SFR Dallas Ft. Worth

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!

Nov 08, 2007 01:16 PM

Useable Property or Just Another Swamp?

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