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Answers (7)
Best Answer
- Mike Jernquist, "CBBLSG_Mike"
- Contributions:63
I see what you mean with the creek. It looks like it forks which would widen the "swath" of the impact. If that were a fish bearing stream in King County, Washington you'd have a 165' buffer to either side of that stream. That looks like a typical 2.5 acre lot which is a 330' x 330'. So, in our area, it would "wipe out" most of, if not the entire lot (165' + 165' = 330'). Doesn't mean one couldn't build there - it just means the regulation would be greater as would the limitations. You need to find out if the wetland and stream are already rated (check the planning department for that jurisdiction). If the entire lot were affected by the stream and wetland - then the other question to ask is how much of it has already been altered/disturbed by clearing or improvements. If it's all in is natural state - then its use value is limited due to the regulations and cost of development. If, on the other hand, there is significant clearing, or maybe a culvert in over the stream with a logging road, etc, etc - that can be of value. If the house, itself, is within any sensitive areas or buffers - then you are probably legal, non-confoming. Meaning, in many jurisdictions, that you can keep what you have (and maintain it) but, expansion of/additions to/aterations in use of any improvements you have will be heavily regulated (if they are even allowed).
You can probably put together a pretty good case for yourself with a simple trip to the planning department. You might actually be able to show how this lot, even as large as it is, is less use-able than the surrounding, smaller lots and that any future development is more heavily (negatively) impacted.
You can probably put together a pretty good case for yourself with a simple trip to the planning department. You might actually be able to show how this lot, even as large as it is, is less use-able than the surrounding, smaller lots and that any future development is more heavily (negatively) impacted.
- Erika Phelan- Buyers Agent, "Orlando Buyers Agent"
- Contributions:103
In Florida, wetlands is not a good thing because you cannot build on it and you cannot cannot disturb the native vegatation.
Erika in Orlando
Erika in Orlando
- Jeanne Feenick, "TopNJAgent"
- Contributions:149
The property should be priced to reflect the impact of the presence of the wetlands on the property and any limitiations that places on usage. The best way to arrive at pricing is with the assistance of an agent who has access to the market and comparable data and has the analytic skills to put it to work for you. I would think that this property will sell for less than a comparable property without the wetlands. Rather than just working from the list price, it is best to start with the analysis of pricing based on comparables - it may well be that the property is priced very well as it stands and if that is the case, you may have a great bargain at or near asking. Alternatively, if it is overpriced, then the discount to asking you have suggested may not be enough.
You get the idea - what you need are facts and a solid analysis. Put your agent to work. An offer based on the facts of the market is far more likely to succeed than one that is based on a hunch.
Good luck to you!
You get the idea - what you need are facts and a solid analysis. Put your agent to work. An offer based on the facts of the market is far more likely to succeed than one that is based on a hunch.
Good luck to you!
- unwirklich
- Contributions:29
There is a home on the property. The listing here on zillow:
http://www.zillow.com/homedetails/101-Highbush-Ln-Kenai-AK-99611/84407157_zpid/
The creek runs smack dab down the middle of the 2.5 acre lot. The wetlands they refer to is what you would expect near a creak, areas that are covered in varying degrees of water when the creek is higher (in the melting season as this is an Alaskan home) and soggy/grass when the creek is low.
I plan on offering significantly less than the asking price, more like 125-145 K rather than the 175K asked so I'm looking to accumulate the longest list of reasons for the low offer as possible.
http://www.zillow.com/homedetails/101-Highbush-Ln-Kenai-AK-99611/84407157_zpid/
The creek runs smack dab down the middle of the 2.5 acre lot. The wetlands they refer to is what you would expect near a creak, areas that are covered in varying degrees of water when the creek is higher (in the melting season as this is an Alaskan home) and soggy/grass when the creek is low.
I plan on offering significantly less than the asking price, more like 125-145 K rather than the 175K asked so I'm looking to accumulate the longest list of reasons for the low offer as possible.
- Mike Jernquist, "CBBLSG_Mike"
- Contributions:63
This is a "need more info" question. In general, yes. Wetlands impact value negatively. However, if there is already a home on the property then building on the land is obviously not an issue. The question would be, 'How does the wetland affect the property?". Depending upon the jurisdiction and the wetland classification it may be very minor or, it may be very significant. If you wish to develop or even alter property that is within a wetland (and often, even the associated buffer for that wetland), it can be very difficult (although not impossible). In many (most?) jurisdictions, if there is already development or land alterations that have occurred in the wetland, they may be vested or "grandfathered". This can actually be quite valuable depending on how much wetland has been disturbed and where it is located but - now I'm going off on a tangent (google "wetland mitigation projects" for more info). If you really want to know the impact of the wetland, either go in to the planning department of that jurisdiction and speak to an ecologist or biologist on staff or, hire your own. Once they know the classification (or rating) they can tell you the impact. Also, people think of creeks as positives (even bodies of water) but, they can have simiar, if not worse, setbacks than some wetlands.
All of that aside - The property has been on the market for six months - you dont' need another reason to make a lower offer than asking.
- wetdawgs
- Contributions:26804
In some cases, the wetlands and creek would add value. In other cases, the two would detract from value.
There is a house in my neighborhood that has been on the market for 2.5 years. It is (was) new construction but 2/3 of the 1/2 acre lot is "wetlands". The advertisement doesn't mention this "feature". The asking price is down about 35% from the initial price.
There is a house in my neighborhood that has been on the market for 2.5 years. It is (was) new construction but 2/3 of the 1/2 acre lot is "wetlands". The advertisement doesn't mention this "feature". The asking price is down about 35% from the initial price.
- Robert Bruno, "Robert Bruno Realtor"
- Contributions:700
To determine if wetlands diminishes a property's value you should see a survey that shows (delineates) wetlands. If that has not been done I would not buy that property. Areas designated as wetlands don't necessarily have to be wet. Several factors can determine wetlands according to the NJDEP. Types of vegetation on the lot, soil types as well as actual water can give a wetlands designation and that means you cannot build anything at all in wetlands. Many lots today are totally wetlands. If an existing home is on a lot that is all wetlands, you would probably not be able to re-build it if it burned down. Beware of wetlands and have a certified engineer delineate the wetlands and get a LOI, a letter of interpretation, from the DEP before proceeding.
Does a property having wet lands lower it's value?
"Topography: Level, Sloping, Wetlands" the property also has a creek on it.
Does that the property has wet lands make it worth less? ie one reason to list for a lower offer than the asking price? or does the creek cancel that out?
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