What’s my Oak Tree Worth?
By: Serena Scott Thomas
I recently went to a listing appointment for a large piece of property in Agoura. The owner asked me what I thought the property was worth in this market, to which I responded ‘That depends.’ I didn’t say that to be difficult or to hedge my bets, I said it because I knew that, in that area of Agoura and in many rural areas in Southern Ca, land value is dependent on many different factors. And some of them are rather surprising. I needed to walk the property first and take a really good look at the comps and the municipal codes. The usual things that spring to mind are, of course, acreage, location, grade, zoning etc., but what I was worried about, in this case, was the oak trees that I had seen there when I first drove by the property.
One of the many things that I love about living in the West Valley is the staggering beauty of the open countryside here. I love to run in it. I run for my heart and my sanity and the sight of those magnificent oak trees always fills my heart with a mixture of joyful anticipation and profound respect. They have survived all the earthquakes, the fires and the landslides and have witnessed the desecration of so much of our most picturesque landscape and still they stand, ancient guardians of the golden rolling hills of California. To me, they are magical, even mythical and I am glad that they are so heavily protected. But why are they so rigidly protected? I don’t disagree because I love trees. In my mind, you can never have too many trees along with never being too skinny, too rich etc. But why the oak trees, in particular, as opposed to any of the other many varieties of trees that we have here? So I started looking into the Oak Tree Protection Ordinance of 1982 and here’s where I discovered an interesting paradox. Oak trees can be both an asset AND a liability with regard to property value.
Most people know about the liability part. Anyone who is looking to buy or sell land for the purposes of building or development will tell you that the oaks are a nightmare. In this particular case we talked about the idea of selling the lots separately. After my walk through, I discovered that this was a very bad idea, since two of the parcels were heavily populated with mature oak trees. Given the difficulty and expense of obtaining the required permits for any trimming, moving or removing of these trees to clear space for construction or development, the value of those two lots sold separately, would be significantly reduced. They were much more valuable as a natural and majestic gateway to the entire property.
But what I also discovered is this wonderful and, I think, little known fact : According to the Conservation District of The Santa Monica Mountains “ In the Santa Monica Mountains, homes having mature oaks typically sell for up to 30% more than homes without them.” Why? Because “Oak trees have value, based on the benefits they provide. A study done by American Forests in 1985 found that each mature tree provided $275 worth of real economic benefits each year. These benefits are avoided costs for storm water runoff control, groundwater infiltration, temperature moderation, air pollution reduction, and carbon sequestration. A mature tree located on the west side of a house significantly reduces summer air conditioning costs.”
So I learned something new and intriguing and for those of you who have oaks on your property, be happy! Your home is probably worth more than you thought!
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