to the value of my property? Also, I am considering
investing in another property there. Will waterfront go up in value at a higher
rate than other property types?
Wonderful oceanfront! There is a finite amount of it, (in fact some of it goes away, like Washaway Beach!)and it is always desirable. Our cooler temperatures have kept us from being a San Diego or Malibu Beach, but more and more Buyers are seeking out Washington coastline.
I think the golf course, the casino in Ocean Shores, the whale watching and passenger ferries, are going to help your propery value. Of course it always depends on the property itself, so check out things like septic feasibilty, flooding, soil stability, and special assessments for sewers, roads, and improvements.
I wish you good fortune!
As an owner in Westport you are probably already aware of the fact that even though our community is the closest ocean beach to Seattle, few are aware of the sandy shoreline. That is because for decades Westport was known as the salmon capitol of the world and those who came to westport headed for the marina and the charter fishing fleet. As salmon declined in the 80's, very little was done to focus peoples attention on the 18 miles of beach as a reason to visit. That is the long explanation to answer your question... the Championship Scottish Links Oceanfront Golf Course that is under construction and the Resort/Convention Center will put Westport on the map not just for people in Seattle & Portland but for people all over the west coast and to some extent the nation. Real Estate values being a function of supply and demand... this broad exposure will push the number of people interested in buying in our community up (demand) while supply will stay fairly limited. The end result should be a healthy increase in all property values... and since waterfront is rare... it's value should go up quicker and higher than other properties around the area. I hope that answers your question.
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