Healthy Lakes & High Property Values Facts and resources to help real estate professionals protect our nation's lakes and lake shorelines Real estate professionals are important partners in main- taining and restoring the quality of our nation's lakes."Lakeshore prop- erty is in demand because of the amenities or benefits [it] provide[s] its owners, such as water based recreation possibilities, an aesthetic setting for a home, tranquility away from urban and commercial life, and perhaps the privilege or esteem of owning an increasingly scarce and valuable resource."1 Since the value of lakeshore property is tied to the quality of the adjacent lake, real estate professionals have a vested interest in helping homebuyers and communities restore and protect their lakes. In April 2010, the U.S. Environ- mental Protection Agency pub- lished the National Lakes Assess- ment (NLA), the first-ever baseline study of the condition of the nation's lakes.The NLA finds that 44% of U.S. lakes are in fair or poor condition, and that, of the problems assessed, poor lakeshore habitat has the greatest impact on lake health. Lakeshore habitat refers to the trees, shrubs, and tall grasses that grow along the shore of a lake and overhang the water. Poor lake- shore habitat occurs when native trees and shrubs are removed from around the lake and replaced by manicured lawns, armored bulk- heads, paved areas, buildings, and docks. Healthy native vegetation strengthens and preserves the lake shoreline, provides shelter, habitat, and food sources for lake fish and wildlife, and helps protect the lake from the impacts of pollution, such as runoff from paved surfaces or erosion from construction sites. Clean lakes with healthy natural shorelines are good for everyone. They provide aesthetic value, recre- ational opportunities, higher prop- erty values, jobs, and a higher tax base.2 Maine and Minnesota con- ducted two studies linking the high quality of lakes with higher property values. The 2005 Maine study found that good water quality on lakes can increase recreational revenues by millions and individual property values by billions over time.3 Resources for Real Estate Professionals EPA Clean Lakes www.epa.gov/owow/lakes Choosing the Right Waterfront Property Wisconsin DNR & UW Extension www.uwsp.ed u/cn r/u wexla kes/ publications/choosingProperty/ ChoosingRightWaterfrontProperty. pdf Protecting Your Waterfront Investment-10 Sim pie Shoreland Stewardship Practices Wisconsin DNR & UW Extension http://clean-water.uwex.edu/pubs/ pdf/shore.waterfront.pdf Lakeshore Property Values & Water Quality: Evidence from Property Sales in the Missis- sippi Headwaters Region Mississippi Headwaters Board and Bemidji State University www.friendscvsf.org/bsu_study.pdf The Economics of Lakes- Dollars and $ense Maine Bureau of Land & Water Quality United States Environmental Protection Agency www.maine.gov/dep/blwq/ doclake/research.htm ------- Both the Maine and Minnesota studies found that there is a positive relationship between water clarity and property values. In Minnesota, the study found that if lakes experienced a one-meter change in water clar- ity, the "expected property price changes for these lakes are in the magnitude of tens of thousands to millions of dollars."5 The study also found that homebuyers are influenced by water clarity when making purchases and are willing to pay more for a better environment. Manicured lawns require lawn chemicals that can wash into the lake. Shallow grass roots and decorative rocks do not stabilize the shoreline or provide habitat for lake fish. Deep-rooted native trees and shrubs stabilize the shoreline, provide a buffer against pollution, and improve habitat for lake fish and wildlife. Lakes Protection Tips for Real Estate Professionals 1. Educate yourself about clean lakes and environmentally-friendly lakescaping tech- niques 2. Encourage homebuyers to learn about the health and water quality of the lakes where they are interested in owning prop- erty 3. Provide homebuyers with contact infor- mation for nurseries or landscapers who sell or plant native trees, shrubs, and flowers 4. Encourage homebuyers to minimize the size of their lawns and to keep trees and natural shoreline vegetation local ordinances, policies, and zoning restric- tions regulating lake shorelines and lakes to better serve your customer 5. Recommend that homebuyers use "lakes- caping techniques"that will reduce runoff and improve the health of lakes 6. Encourage homebuyers to use environ- mentally-friendly building techniques 7. Share information with homebuyers about local lake clean-up and protection programs 8. Get involved in lakeshore communities to help homeowners increase their property and protect their lakes Additional resources on clean lakes are available at www.epa.gov/owow/lakes/ 1 Krysel, Charles, Elizabeth Boyer, Charles Parson, Patrick Welle (May 2003). "Lakeshore Property Values & Water Quality: Evidence from Property Sales in the Mississippi Head- waters Region."Mississippi Headwaters Board and Bemidji University, pgs 9-10. 2 "The Economics of Lakes- Dollars and Sense. (2005). "Maine Department of Environ- mental Protection, Bureau of Land & Water Quality, pg 1. 3 Ibid, 4lbid,pg2. 5 Krysel, Charles, et al., pg 34. SEPA United States Environmental Protection Agency .eans, and Watersheds 1200 Pennsylvania Ave, NWMail Code 4501-T Washington, D.C. 20460 www.e pa .g ov/owow/l a kes www.twitter.com/EPAowow EPA-840-F-10-002 ------- |