River Property Value ???

[krthegunslinger]

Without seeking real estate help I’m curious what river access property on the lower bow river may be worth. Older established residence on 17 acres. Approx 300 yards of river front. Near bow city.
Any and all input very muchly appreciated.

[roper1]

Older house $250,000
17 acres @ 10,000 $170,000
Utilities $40,000
View & Location $30,000
Outbuildings $30,000
---------
$520,000

How much gravel
How good a well
Subdivision potential

Many things to consider, my guess is out there be cheaper than my model. Good luck!

[vinny]

Originally Posted by roper1

Older house $250,000
17 acres @ 10,000 $170,000
Utilities $40,000
View & Location $30,000
Outbuildings $30,000
---------
$520,000

How much gravel
How good a well
Subdivision potential

Many things to consider, my guess is out there be cheaper than my model. Good luck!

That seems really low to me, but I’m going by Lethbridge and area acreage prices. Just saw one near Park Lake, 2 acres, decent house. $583 000.

[roper1]

Originally Posted by vinny

That seems really low to me, but I’m going by Lethbridge and area acreage prices. Just saw one near Park Lake, 2 acres, decent house. $583 000.

Fair enough. Op didn't mention how close to Bow City, the topography might make chopping 3 acres out not feasible? Acreages around Calgary are finally starting to move again, seen a couple SOLD signs on my travels lately.

[lmtada]

Originally Posted by roper1

Fair enough. Op didn't mention how close to Bow City, the topography might make chopping 3 acres out not feasible? Acreages around Calgary are finally starting to move again, seen a couple SOLD signs on my travels lately.

1 cast or 2 casts to the Bow?

[Grizzly Adams]

Originally Posted by lmtada

1 cast or 2 casts to the Bow?

Hundred year flood or 500 year flood?

Grizz

[Red Bullets]

Regarding the flood possibility, if a 100 year flood comes through a person could also lose an acre or two to erosion. When the Red Deer river flooded in 2005 a couple miles upstream of Sundre one fellow had a quarter section with a nice log house. The flood covered a large area of his acres. And after the flood there was just exposed gravel left. His top soil was all gone. The house looked ok but he didn't have much of a yard or pasture land left.

All it would take is for one of the Bow's dams to burst and the gush downstream would be powerful.

[Smoky buck]

Like others are hinting at the portion of your land that is in potential flood plain will dictate value and desirability

[krthegunslinger]

Great advice so far. Thank you.
We are approx 100 vertical feet above the water line. No fear of ever flooding. The flood of 2015-16 saw the river hitting bridges but was 40 or so vertical From our bank.
The house is 100yards from rivers Edge and 100’ vertical above water line.
It’s 220 yards from front window to opposite side of the river.

[Grizzly Adams]

Originally Posted by Red Bullets

Regarding the flood possibility, if a 100 year flood comes through a person could also lose an acre or two to erosion. When the Red Deer river flooded in 2005 a couple miles upstream of Sundre one fellow had a quarter section with a nice log house. The flood covered a large area of his acres. And after the flood there was just exposed gravel left. His top soil was all gone. The house looked ok but he didn't have much of a yard or pasture land left.

All it would take is for one of the Bow's dams to burst and the gush downstream would be powerful.

The house on 19 Mile Ranch, quickly became a cliff top home, with a view. It's for sale at over a million bucks.

Grizz

[dodgeboy1979]

Originally Posted by krthegunslinger

Great advice so far. Thank you.
We are approx 100 vertical feet above the water line. No fear of ever flooding. The flood of 2015-16 saw the river hitting bridges but was 40 or so vertical From our bank.
The house is 100yards from rivers Edge and 100’ vertical above water line.
It’s 220 yards from front window to opposite side of the river.

Might be worth while checking with your insurance to see the cost or if they will even insure the place

[KinAlberta]

Climate change threatens Canada’s dams - but who’s keeping track? - The Globe and Mail

https://www.theglobeandmail.com/cana...ts-but-due-to/

[Dean2]

If you are 100 feet up on a straight clay bank that is a vertical drop then the river access is worth nothing. Being that close to the river on a clay bank may well make the house VERY hard to sell at all. If you are 100 feet up on something that slopes to you it may have some value but I can't see very much slope if the rise is 100 feet over a 100 yards. What you have described is river view, not river access along with the potential for bank erosion to take the house out completely.

[Jack Hardin]

Originally Posted by Smoky buck

Like others are hinting at the portion of your land that is in potential flood plain will dictate value and desirability

Most insurance companies will not insure property situated on a flood plain.

[Big Grey Wolf]

Just wondering, most of us AO members are not Registered Property Appraisers. We all have opinions, neither are Realtors appraisers. If you want real property value, pay for actual appraisal.

[Commander B]

The truth will be found from a home inspector.

B.

[Dean2]

Originally Posted by Big Grey Wolf

Just wondering, most of us AO members are not Registered Property Appraisers. We all have opinions, neither are Realtors appraisers. If you want real property value, pay for actual appraisal.

That won't actually work. An appraiser uses recent local sales to evaluate the property, they do not pass opinion as to actual sale-ability due to engineering, structural or potential flood/bank erosion issues and the like. Many appraisals are now done without ever actually seeing the property, as goofy as that sounds.

[huntinstuff]

Originally Posted by Dean2

That won't actually work. An appraiser uses recent local sales to evaluate the property, they do not pass opinion as to actual sale-ability due to engineering, structural or potential flood/bank erosion issues and the like. Many appraisals are now done without ever actually seeing the property, as goofy as that sounds.

So true

I got two assessments for my land and they were $100,000 apart

[krthegunslinger]

I’d post some pics but the platform change on here a few years ago killed that for me unfortunately.
It’s a walkable slope to the river. We drive down to it. Flood plain is opposite us and is huge...again wish I could post pics as we’ve got good ones. Definitely have access we use it all the time. Perfect slope for toboggan in the winter months.
45 feet of flat gravel with some large rock at shoreline to play off of, park RV etc.
The property if fully insured now with no issues.

[Map Maker]

If you learn how to use the spin2 website, you can find similar properties in the area and what they sold for.
Though you would have to extrapolate the dates and size of lands.

River land will always be in demand.

[Okotok]

Probably not a real comparison, but a friend of mine just bought 230 acres mostly forested and about 60 acres of arable on the Pembina downstream of Rangeton Park. Two miles of riverfront if I recall correctly as well as a decent sized creek running through. 1100 square foot cabin with power only. They had wanted 950k and he paid about 630k. Beautiful piece of land.

[oilngas]

Does it have a tree? Bow City does have a few if the beavers have "gone away".

[Big Grey Wolf]

Just check the Tax assessment for value. Most counties actually hire Accredited Appraisers.

[Dean2]

Land Pictures posted for KR.


I’ll add to the pics when you post them. In looking we are closer to 80 ft above the river the house is back 70 yards from where pics were taken. The rivers edge is 30-40 yards from where pics were taken. The one pic shows the approx slope if you look down stream a ways on the left side of the pic. You need 4wd mostly due to grasses as we’ve only ever cut the very crown of the bank away.


Thanks again
Kyle