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WETLANDS

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jt

Thread Starter
Freshman Member
Joined
Jan 16, 2002
Professional Status
Certified General Appraiser
State
Pennsylvania
I am doing research on wetlands and am interested in any and all comments, particulary wetland evaluation, and any positive comments in regard to value. In addition, I attended a wetland seminar and the instructor indicated that appraisers were being sued for indicating wetlands have no value. Sincerely appreciate hearing about your personal experiences in regard to this controversial issue.

Thanks,

jt
 
Joined
Jan 13, 2002
Professional Status
Retired Appraiser
State
Florida
In the NE Florida area, according to my research and others research that I have used, wetlands are at minimum $1,500 per acre. Usually it's a gov agency or tree hugger group that buys them. You might want to get together with an appraiser that is familiar and experienced in development projects. S/he should have that research for your area. The problem is whether they will sell or share that research. It's the results of many, many hours of work.
 

jt

Thread Starter
Freshman Member
Joined
Jan 16, 2002
Professional Status
Certified General Appraiser
State
Pennsylvania
Pam, I appreciate your reply, however, I'm not looking for particular wetland comps, just trying to ascertain any potential benefits to being located next to wetlands... such as, privacy, hunting and fishing, buffer areas, open space, near wildlife, etc.

My more recent experience with wetlands includes positive feedback from owners residing in conservation subdivisions(relatively new concept).

It appears conservation subdivisions incorporate wetlands and/or large open space areas within the development, thereby allowing smaller size parcels which realize a greater sale price to those lots adjoining or overlooking the wetland/open space areas as compared to larger size lots without such wetlans/open space areas.

I have much research and documentation of such developments which I would surly share with interested parties who would likewise share some of there research.

Would also like to here of personal expediencies when encountering wetlands on a property being appraised. My understanding is, appraisers are being held liable when they indicate wetlands have no value, I'm located in PA.

Thanks

jt
 
Joined
Jan 16, 2002
Professional Status
General Public
State
North Carolina
jt

One key issue often overlooked by appraisers is that although wetlands come with significant restrictions for use which make them have limited utility viewed as stand alone parcels, they do have the property rights which would allow higher density subdivisons in many locales.

This is essentially the point you are making, they have value as open space and depending on local ordinaces, they can help meet density requirements. So for the 30 acre subdivision with all 30 acres which can support thirty homes, can be compared to the 30 acre subdivision with 20 acres buildable and 10 acres in wetland which would also have thirty homes. Each lot is smaller, but you have larger shared common area.

How you measure the value of the wetlands as recreational land to the subdivision strikes me as very difficult. I will have to think on that one.

There is also a strong market for larger tracts of wetlands which can be sold for remediation or reclamation of wetlands. Some of the numbers are staggering. Best source of data for that is the state highway department.

Regards

Tom Hildebrandt GAA
 

jtrotta

Senior Member
Joined
Jan 16, 2002
Having lived in the shoreline area most of my life, only recently (last 25 years) has there been some growth around some wetland area's; most municipality's have significant restrictions attached to those lands-sounds like our restrictions are much different from yours. You state; "conservation subdivisions incorporate wetlands and/or large open space area's" - most of our shoreline communities have "septic or drywell systems" which incorporate other restrictions, so it is very difficult to get approvals passed. "Tree Huggers-1st"; Wetlands-next ; Inland Wetlands; then the soil sciences come into play and then "Coastal Area Management" - so as you can see I regretably conclude cannot be of much help here.

Based on your inquiry on value +/- impact; you in a way answered part of your own question in your answer to Pam; IE: Privacy = benefit; negative aspect may be a 3 season period with an overabundance of insects & bugs. With the "West Nile Virus" becomming a greater issue, it would appear that this so-called value may be in question :?: :?:

Wouldn't you think :?: Just my thoughts 8)
 

jt

Thread Starter
Freshman Member
Joined
Jan 16, 2002
Professional Status
Certified General Appraiser
State
Pennsylvania
Tom, good hearing from you.

The additional value is realized by comparing conventional subdivisions with conservation subdivisions which offer distinct and measurable economic advantages. Conservation developers develop land without eradicating the natural features of the land by incorporating the land's special character into the development. Conservation developments are able to reduce the size of the individual parcel, thereby reducing infrastructure and engineering cost(shorter street and utility runs), this saving may be passed on to the purchaser or retained by the developer.

Several documented studies have been conducted, one recent study compared clustered housing with permanently protected open space and found that clustered housing with open space appreciated at a higher rate than conventionally designed subdivisions. Appreciation was measured as the percentage increase in open market sales. The study compared a clustered development with one of conventional design. The clustered development studied appreciated at an average of 22%, and 19.5% for the conventional subdivision, a difference of $17,200 in average selling price. Not only did the clustered development return a higher rate of return, but the size of the lots were considerably smaller.

The open space area offered informal social interaction among neighborhood residents and majestic views out into farmland or wetlands in addition to wildlife in their back yard. These clustered conservation developments also had a shorter marketing time.

Tom, always appreciate your well thoughtout comments,

jt
 

jt

Thread Starter
Freshman Member
Joined
Jan 16, 2002
Professional Status
Certified General Appraiser
State
Pennsylvania
J,

You are absolutely right, costal wetlands have different wetland issues, vs inland wetlands.

I was under that same impression before speaking with a wetlands biologist. Actually, the opposite is true. He indicated, you are more apt to find mosquitos(West Nile Virus) and other decease carrying insects, in urban areas, located in standing waters. Aside from moving waters in wetlands, wetlands contain frogs and other animal life which eat the insets and their larvae.

What are Tree Huggers?

jt
 

jtrotta

Senior Member
Joined
Jan 16, 2002
Tree Huggers;
Insistant on saving every tree, here they attend every meeting and oppose any tree's being cut (a no progress of any kind mentality) :?

As far as the "standing water" issue; well haven't gone to any biology schools, but perhaps he/she can provide an explanation as to why so much spraying was done (all over- East to West & North to South) in our state (over the past few years), when most of the water (here) is on the move 8O

Now I don't doubt he/she may be right, (just like we are in appraising) but, my little tiny pea brain says there has got to be a slightly better answer 8)
 

Larry Lyke

Senior Member
Joined
Feb 2, 2002
jt --

A'Tree Hugger" is somebody who hugs trees!

To protect the tree from bicycles and ruffians and people who want to chop everything down that has any cellulose in it and run it through a sawmill or chipper.

More to your point of wetlands. Here in urban Minnesota, Buyers are willing to pay more to live next to a pond or wetland, the latter which gets you more than your fair share of mosquitos, AND songbirds, AND frogs, AND cattails.

What is so appealling about wetlands is the housing arrangement, usually, and the upscale atmostphere.

Around urban park areas and lakes, ducks are the problem. You have to wear waders to go for a walk near the lakes in the summertime. BUT, steal one of those run-amok ducks for a Sunday dinner and you'll end up in the pot.

Wetlands designation is the way to protect for the future areas of the environment. We've paved over everything and then wonder why we're innundated when there a little too much rain - as in flood.
 

Restrain

Elite Member
Joined
Jan 22, 2002
Professional Status
Certified General Appraiser
State
Florida
Around here, developers of large tracts do not pay for the land in a flood plain or wetlands area. The reason is that it cannot be used for other than open space and can entail significant liabilities. Yes, the individual homeowner may want to have a view of a pond. However, many times if the wetlands exists, there can be extreme restrictions to its use, including cleaning up in the area. Further, a wetlands can be created by accident. The city of Mt. Pleasant bought an abandoned gravel pit from an excavation company for long term use as a landfill. However, in the interviening years, the pit filled with water, frogs and turtles moved in and the area became a wetlands which the Federal Government would not let be used for a landfill. So, you can lose the use and effective ownership of your land unintentionally thanks to govt. regulations in this area.
 
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