More Homeowners Buying “Air Rights”—KVUE (Seattle)

Owners Looking to Protect Home Views Buy “Air Rights” to Stop Further Development.  See the Video to Find What One Homeowner Paid $600,000 to Preserve.

The latest trend in Seattle’s real estate market has homeowners looking up for some quick cash, reports Heather Graf at King 5 News (KVUE, an ABC affiliate)  in Seattle.  Depending on where you live, the air above your roof could be worth a lot of money.  Here’s more: 

Real estate appraiser Richard Hagar says the battle over “air rights” is heating up in neighborhoods like Magnolia and Blue Ridge in Seattle, along with Somerset in Bellevue.

“It’s becoming more common because we’re getting higher and higher population density,” he said. “People can’t spread out and make big ranch-style houses anymore. So as our population increases, we squeeze upwards.”

To prevent a neighbor from building up and blocking their view, he says some homeowners are willing to spend a lot of money.

One appraiser reports he’s he’s dealt with dozens of cases with price tags for “air rights” ranging from $50,000 to $250,000.   Read the whole piece here and watch the video at the site. 

Homeowners with fine scenery are buying “air rights” to preclude further development that might block their views.