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Lake Access, But two blocks away????

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Ray Miller

Thread Starter
Elite Member
Joined
Feb 20, 2002
Professional Status
Licensed Appraiser
State
Wisconsin
:) A home that sits on two acres, one block from Lake Wisconsin. With a clear view of Lake Wisconsin. The owner states that the land between the subject and the lake can not be built on to block the view. Part of this land is in private ownership and part of it belongs to the township. To me, with out the view of the lake would cause the home to have less appeal. Am I correct? Should I check with the township offices, zoning office and the assessors office about what can and can’t be built.

8) Question two; this subject property also shares 1/12 ownership on another 3 acre parcels of land that is contiguous to the subject property and gives lake access two blocks away. In addition the subject property shares another 1/12 ownership in another acre of ground that is not contiguous, but has two lots between it and the acre. This acre is also a block away and gives lake access.

Where to start? :?
 
A

Anonymous

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You must check the status of both the view and the lake access. Checking the deed restrictions or zoning of the area in question is standard but time consuming. As for the lake access you must first determine if such access has any value. The way to do this is good old fashioned pared sales.

I know that doing these things is a pain but that's why we get paid the big bucks.
 

Stone

Elite Member
Joined
Feb 1, 2002
Professional Status
Certified General Appraiser
State
Wisconsin
Hi Ray. There are many subdivisions/developments on Lake Wisconsin with access rights for the owners, and those shouldn't be too hard to locate. Eagle Point comes to mind. An MLS search should find other properties with access.

As to the view, is your property on a bluff? In the area you are working, outside of frontage on the river, views are probably the number one factor influencing value. A lot of people from outside the market are either moving to the area, or purchasing second/retirement houses, and views are really important. Properties with good distant views definitely have higher value.

Have fun doing the research, the Sauk County courthouse is my favorite in southern Wisconsin.

Michael
 

Ray Miller

Thread Starter
Elite Member
Joined
Feb 20, 2002
Professional Status
Licensed Appraiser
State
Wisconsin
The folks working in the Sauk County Court house are really great. Have given this newbee a lot of help.

With the Holiday season coming they might get a platter of cookies, sweet rolls and some "Bear Sign" from the bake shop across the square from the bank.

(You all wanting to know what "Bear Sign" is you need to check some of the Old West Cowboy/Rancher stories. Or find a copy and read "Stubby Pringles Cowboy Christmas". By the way if you find a copy for sale outside of a libary. I would like to buy it for my grandson.

Now back to the subject. The house dose not sit on a bluff. It sits on a sloping down hill street towards the lake. If something were to be built between the subject and the lake it would just kill the view.

I pulled the MLS for the Northwest side of the lake at Marimac and found only one sale in the past year. A couple of the realty offices in the area do not list with MLS, so will pay them a vist this week for comps. Also stoped at a couple of other ocffices, First Weber in Baraboo and ReMax no sales in that area. Most of the stuff I am getting in the area are refi's. A lot of new home sales.

Thanking all of you for the help you are giving me. 8)
 

airphoto

Senior Member
Joined
Jan 15, 2002
Professional Status
Retired Appraiser
State
Pennsylvania
Ray,

One other thought .. what's the maintenance agreement on the parcel over which yours has a view? If there's no contigency, perhaps it can't be built on, but it's liable to grow up in garbage over time and obscure the view ..
 

Stone

Elite Member
Joined
Feb 1, 2002
Professional Status
Certified General Appraiser
State
Wisconsin
Hi Ray. You could check with brokers to see which subdivisions have these access rights, and then check at the courthouse for sales that weren't on MLS. Also, you may have to compare your house to different style houses. Remember, they are buying for location up there. You may have to go back in time more than a year. I appraise a fair amount of land on the river and frequently have to go back a ways in time. Just remember to time adjust it. Good luck.
 

Restrain

Elite Member
Joined
Jan 22, 2002
Professional Status
Certified General Appraiser
State
Florida
Along the Texas Gulf Coast, we have this in a lot of areas as well as lake subdivisions. In one subdivison that is on a hill, there are view easements so that only 1 story homes can be built - it would affect the view of the home further up the hill. I have seen 250% value differentials for a stilt-home (bungalow on posts - required along the coast) for ocean frontage vs. the next block off of the coast. Yes, view and proximity has a high value.

Roger
 
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