Jun

3

Waterfront property in Seattle is one of the most attractive features of the area. Who else but waterfront homeowners have the chance to skip a horrendous commute and get to work by water taxi? Who else gets a gorgeous lake view that’s right outside the window? Who else has the luxury of being accessible to fireboats in the event of a fire? Yet despite all of these advantages, one persistent difficulty facing the waterfront real estate owner is the possibility of a flood. That’s why recent discussions and decisions about flood insurance policies are important to understand.

Extension of National Flood Insurance Program
Last July, the National Association of Realtors hailed the federal government’s decision to extend the National Flood Insurance Program, or NFIP. The NFIP, originally created in 1968, was a response to the need for some kind of national flood insurance, as typical homeowner’s insurance doesn’t cover flooding, hurricanes, tropical storms, or heavy rains. The extension is positive because it will continue its function as a means for people with waterfront property to remain insured in the event of a flood. However, the most recent extension came with some changes that current or future owners of waterfront houses should know.

Changes to the NFIP
The Federal Emergency Management Agency, or FEMA, is responsible for responding to disasters like floods. Unfortunately, officials from FEMA recently explained that there will be increases in premiums and rate structures in order to help the agency get on more solid financial ground. Because of a high number of catastrophic storms in the recent past, FEMA has a debt load of $24 billion to overcome. One change will be on “severe repetitive loss properties,” which are the ones in the most dangerous position of having repeated loss due to flooding. About 600,000 current owners of a primary residence won’t see increases until their policy lapses or they sell to someone else. These are the properties with subsidies. About 80 percent of flood policies aren’t subsidized, so they won’t see any changes aside from routine rate increases each year.

What the Changes Mean to You
These changes are hardly a cause for alarm. Unless your home is located within a Flood Insurance Rate Map (FIRM) area, you’ll continue to have a highly affordable flood insurance rate. In fact, half of all flood policy claims are found in just five metropolitan areas, which are New Orleans, Houston, Tampa, Miami, and New York. That means your likelihood of a flooding problem in a waterfront home off of Lake Washington or Puget Sound is probably quite low. Even so, it’s important to note that these changes are coming and react accordingly. As a buyer, you should focus on waterfront real estate located outside of any FIRMs. Current owners should take stock of what their situation is, keeping in mind that most changes will be phased in gradually starting in 2014. Sellers simply need to remember to disclose information about these changes to any buyers.

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Apr

10

Paul Dorpat has digitized the entire Seattle 1912 Baist Real Estate Map, showing parcels, structures, and roads throughout all of Seattle a hundred years ago. So if you have a home anywhere within Seattle (Lake Washington, Lake Union, Puget Sound, Duwamish area) and are interested in the historical changes of your neighborhood and even your own parcel (which very well may have been in a different – and perhaps larger – configuration back then), it would be interesting to check it out. He had this information available online, but the website went down. Hopefully it will return!

Seattle 1912 Baist Real Estate Map, including waterfront neighborhoods

Seattle 1912 Baist Real Estate Map, including waterfront neighborhoods


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Apr

6

There is a long history in the state of Washington that determines whether or not your particular waterfront property owns its beach out front, especially important on Puget Sound properties with their tidal ranges that can expose large tracts of beach at low tide. Who owns that land? You? The state? It depends.

The answer can be determined through a title search and a correct parcel map. There are properties throughout the Seattle region that fit into both categories: owning the beach, or not. The actual day to day usage of a beach in front of a waterfront property is frankly usually exactly the same whether the beach is owned or not: people without ownership still expect their beach to be quiet and well taken care of by strolling beach walkers, and most people with owned land let beach walkers go through their beach since the courtesy gets reciprocated and it allows the entire community to enjoy waterfront strolls. There are some famous exceptions, including people trying to (illegally) put fences up that become submerged at high tide, but they tend to be in remoter regions and you don’t see that around Seattle.

The Department of Natural Resources provides an informative guide to “Boundaries of State-owned Aquatic Lands” that explains many of these concepts, terms, and related waterfront property rights history. Here’s an excerpt from it:

“Fresh water, such as in lakes or rivers, or marine waters, such as in Puget Sound, are not owned by individuals. Water is managed by the state and protected for the common good. Generally, aquatic lands beneath these waters have been managed that way, too – since statehood.

On November 11, 1889, at statehood, Washington’s aquatic lands became stateowned lands under the Equal Footing Doctrine, which guaranteed new states of the Union the same rights as the original 13. Washington State, through Article XVII of its constitution, asserted ownership to the “beds and shores of all navigable waters in the state…” so that no one could monopolize the major means of transportation, trade or fishing areas. Some other states gave adjacent upland owners a “riparian” right to build over navigable waters, but Washington chose to be a “nonriparian” state – that is, it did not grant that right. It held that aquatic lands are owned by all the people of the state, not individuals.

Although owners of lands abutting stateowned aquatic lands did not receive “riparian” rights at statehood, for more than 80 years they could purchase tidelands or shorelands from the state. In 1971, the sale of the state’s aquatic lands was stopped by the state Legislature. Today, virtually all the bedlands of navigable waters are state owned, as are 30 percent of the tidelands and 75 percent of shorelands in the state. Nonnavigable bodies of water are not owned by the state, and are likely to be connected in title to the abutting upland property.”

Burien Three Tree Point waterfront real estate with Seattle area Puget Sound owned beachfront

Click picture to see this local Three Tree Point waterfront home that owns its 130′ beach

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Mar

26

MarineTraffic.com ship logoIf you are on Puget Sound, have you ever wondered about a large ship passing silently up the shipping channels? Perhaps wonder what country it is from, or where it is heading, or even some design specs on its size?

I have just added a new feature on WaterHavens.com that offers all of that and more: real time Puget Sound marine traffic maps and info. It shows the current location of major vessels throughout Puget Sound (and the rest of the world), tracking every ship’s location, direction, and registry information. It even includes a photo of many boats, plus a graphical track of where it has just been on its recent course plotted over time.

Pretty neat stuff. You can literally look out your window and bring up this info on WaterHavens at any time to know a lot more about any boat that is right in front of you!

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