Comps wanted for a landslide sale on a high end property

[Michael Klinger]

I'm completing a casualty loss appraisal for a $1,000,000 waterfront house in the Puget Sound. I'm searching for sales of residences either before the damages were fixed or after the damages were fixed. If you know of any residential sales or of someone that might know of sales, please reply with details. The lost is likely to be greater then the cost to cure. There might be a stigma. There will certainly be an uncertainty factor that will likely result in a greater loss then just the cost to cure. Please reply with any suggestions for I'm finding absolutely nothing. thanks for your time.

 

[NachoPerito]

Can you be more specific? Are you talking about receding high bank waterfront?

 

[Michael Klinger]

Can you be more specific? Are you talking about receding high bank waterfront?

Yes, this is a receding high bank waterfront property. At this point, I'm willing to considering anything for a casualty loss, for I'm finding no sales.

 

[NachoPerito]

A couple properties may lead you to somewhere. Both have listings on NWMLS.

13421 27TH ST SE , SNOHOMISH, WA
They bought in 2011 and now they are forced to move their house.
http://www.komonews.com/news/local/...ve-home-from-approaching-cliff-284041951.html

Another is:
7220 Norma Beach Rd, Edmonds 98026
It was the victim of a landslide and is now on the market for $200k.
It sold for $877k in 2004.
http://www.heraldnet.com/article/20110316/NEWS01/703169850
http://www.heraldnet.com/article/20150211/NEWS01/150219829

Not sure of any others.

 

[Michael Klinger]

A couple properties may lead you to somewhere. Both have listings on NWMLS.

13421 27TH ST SE , SNOHOMISH, WA
They bought in 2011 and now they are forced to move their house.
http://www.komonews.com/news/local/...ve-home-from-approaching-cliff-284041951.html

Another is:
7220 Norma Beach Rd, Edmonds 98026
It was the victim of a landslide and is now on the market for $200k.
It sold for $877k in 2004.
http://www.heraldnet.com/article/20110316/NEWS01/703169850
http://www.heraldnet.com/article/20150211/NEWS01/150219829

Not sure of any others.

Braden,

thanks for the information and the links. I knew about the house on Norma Beach. Its a sad sad situation. To make it worse, the owner that I'm appraising for might end up in the same situation, and they are retired seniors.

I still will need closed sales to prove the loss. I understand you know nothing more, but I'm hoping someone else reading this has an idea.

 

[Terrel L. Shields]

I am reminded of Twain here....applies to such places, escarpments, sinkhole country, landslide country, and no one with insurance against the obvious geological hazards...Of course that is just the old geologist talking out his heinie again.

We come now to the geological part. This is the one where the evidence is not all in, yet. It is coming in, hourly, daily, coming in all the time, but naturally it comes with geological carefulness and deliberation, and we must not be impatient, we must not get excited, we must be calm, and wait. To lose our tranquility will not hurry geology; nothing hurries geology
​

 

[NachoPerito]

There are a few broker's who specialize in waterfront homes. I would try to contact them to see if they have heard of anything.

 

[JTip]

13421 27TH ST SE , SNOHOMISH, WA
They bought in 2011 and now they are forced to move their house.
http://www.komonews.com/news/local/...ve-home-from-approaching-cliff-284041951.html

Wow. Some great pictures in that link. Would love to the 'hole' story with the history of the property, note it's a geodesic dome house.