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How Water Affects 2014 Fredericksburg TX Real Estate Values

Posted in: Market Updates
By SAGE - Premium Texas Real Estate
Sep 2, 2014 - 8:34:17 PM

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Keep in mind the effects of water on values of Fredericksburg TX real estate.  We have seen how property values fluctuate with the economic predictors and overall real estate market.  But let's look at how the water element impacts property values in Texas.

What's New?


By 2014, a discernible change in property values has been attributed to new federal legislation.  The Biggert-Waters Flood Insurance Reform Act of 2012 required FEMA and other agencies to raise flood insurance rates to reflect the true flood risks of any area in the United States.  Fredericksburg TX real estate enjoys a scenic Hill Country location a few miles from the Pedernales and Guadalupe rivers and several large lakes.  As these water bodies do not run through our historic city, the adjustments to our flood insurance premiums may be minimal.

On the other hand, researchers at the Texas A&M Real Estate Center have determined a substantial negative effect on Texas home values - complements of the Flood Insurance Reform Act of 2012.  Ali Anari describes the equation in his article, "Rising Flood Insurance, Sinking Home Values."  Essentially, the study determined: "An annual increase of $1 in homeowner costs...can be expected to decrease home value by $16.50."  Homeowner costs include tax, insurance, maintenance, and other necessary expenditures.

The average premium for both renters and homeowners insurance in Texas continues to outpace average premiums force throughout the United States.  The average Texas homeowner's premium in the year 2000 was only $880 a year.  Texas premiums by 2008 were up to $1460 annually.  When compared to the rest of the nation, Texas pays 185 percent of the USA average premium.

Water Rights in Texas

The State of Texas categorizes surface water and groundwater and owns a substantial portion of it.  As Texas grows, it is important to consider the value of water rights.  The subject is the topic of excellent articles published in the July 2014 Tierra Grande Magazine.  Following are some rough descriptions of Texas water rights:
  1. Surface Water: Diffused Surface Water is moisture caused by rain or snow except water that reaches a watercourse or natural impoundment.  If captured in a barrel or other container, this water belongs to the property owner.
  2. Surface Water: If a property owner wants to impound surface water, a permit is required.  Landowners with the oldest permits have first rights.  A landowner’s riparian rights may not be encroached upon by the appropriation rights of Texas.
  3. Surface Water: Water in a Watercourse, even if it is a dry stream bed most of the year, is owned by the State of Texas.  These watercourses include every River, stream, and Lake, Bay, Canyon and watershed.
  4. Surface Water: Spring Water may not necessarily be owned by the landowner at the origin of the spring.  If it flows off the property, the water rights may have to be shared by neighboring property owners.
  5. Ground Water: Percolating Grounds Water bruises or filters through the soils without a defined course this is water under the surface and privately owned.  Many farmers and ranchers in the Fredericksburg Texas real estate market depend on this groundwater to care for livestock and orchards.
  6. Water in Underground Streams and Lakes: Groundwater located in underground streams and lakes belong to the state.

Meet our Fredericksburg Texas Realtors

For expert guidance in your personal search for the ultimate piece of the Hill Country, including Fredericksburg TX real estate, please call Dale E. Cook, MBA and owner of SAGE - Premium Texas Real Estate at (830) 992-0056.

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Dale E. Cook, MBA, Broker/Owner

Sage - Premium Texas Real Estate
Chase Bank Building
150 E. Main St., Suite 303
Fredericksburg, TX 78624

830-997-1035 office
830-992-0056 cell

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