I know, you’re going to ask me why would you buy a landlocked property that is 100% encumbered by wetlands and buffers? Answer: because I’m smarter than the average bear. We got this right off the MLS for $30k. State law gives us the right to privately condemn some of the neighbor’s property for access, and most municipalities these days offer a “Reasonable Use Exception” to build in critical areas. Gladly, the neighbors have been good to work with (no condemnation needed) and we’re already finalizing the access easements. It’s a small project, but it will bring a genuinely nice return. Too bad the seller didn’t have an agent like us to represent them.

Yep, we’re about to close on a 116-space RV storage park including a commercial building. The plan is to operate the existing RV storage park while permitting a planned 55-unit townhouse development. Yes, the development value eclipses the value-in-use by over a million dollars, so the highest and best use theory says it’s time to redevelop this one. We’ve decided to go with condos because the road standards for fee simple development create a serious reduction in lot yield. Keep an eye out on this to show up in new permit activity news in Snohomish County!

This project has critical areas on steroids with just about every challenge you can think of from a shoreline designation to a fish bearing stream and wetlands oh my. It’s a single parcel of land containing roughly 15-acres, but only a third is usable. We still anticipated a lot yield of 30 to 38 single-family lots. This is another project highlighting our critical area expertise and how challenging properties can still have strong value. The seller has chosen to work closely with us to overcome what seem like insurmountable obstacles. He chose wisely to team up with our proficiency and competence to generate a path forward that maximizes his value in the face of blinding critical area regulation.