Attention: Yacht Haven

Attention Property Owners in the Yacht Haven Neighborhoods
By Merri Ann Simonson – Coldwell Banker SJI

Merri Ann Simonson – Contributed photo

A Fiber Committee has recently been formed for the neighborhoods that access their property off of Yacht Haven.  If you know of anyone in those areas, please share this article with them.

First of all, we would like to thank the Shorett Family for installing the conduit for future fiber to a good portion of Yacht Haven and Shorett Drive which will reduce the overall costs of the neighborhood’s middle mile.

The initial work has begun to collect the contact information for those individual property owners that want to investigate the cost of fiber to their property. 

As interest builds, we will arrange with Rock Island Communications various dates for presenting to the property owners. Rock Island Communication’s presentation includes estimated cost to bring the fiber line from a main junction down into the neighborhood or what is referred to as the middle mile. They also prepare estimates for each homeowner for the cost from the neighborhood street down their driveway to their home, which is referred to as the last mile.

Rock Island uses an initial range of estimates from low to high. As more information and interest is gathered, refined designs and estimates are developed. Cost savings are available for those neighbors that agree to run the fiber down the property line and T-off to each house. Other cost saving measures can be taken to reduce the expense but the final individual bids can’t be processed until the neighborhood approves the middle mile portion of the project and moves forward.

Rock Island Communications has arranged fixed prices per foot on excavation and fiber installation from the various contractors they have working for them. Generally the cost is $10 – $12 per foot for the middle mile and $9 – $10 per foot for the last mile. Fiber doesn’t have to be as deep as other utilities; it can be only 18 inches below the surface and shallower if under pavement.

Fiber doesn’t have to connect to the home where the telephone junction box is located. It can be installed to a more convenient centralized location in the house, which will make internal wiring less expensive.

Individuals may be able to secure a loan from Islanders Bank to fund their share of the middle mile and last mile costs. Islanders Bank has very competitive rates and terms for this purpose. This financing can spread the costs over a 5 year term which makes it much more affordable. The interest rate for individual loans is 4.5% fixed with a $100 loan set up fee, and the loans are typically unsecured.

Rock Island Communications has developed an incentive to the program; the initial group in the neighborhood is offered a $1,500 discount on their last mile for opting in at the beginning. Those that opt out in the beginning may hook up later, but at a higher cost.

The average price county wide is less than $4,000.   The costs in the Yacht Haven neighborhoods will vary just as the length of individual driveways vary throughout the island.    Our costs may be lower than the county average due to conduit and trenching already processed by the Shorett family.

Based on the county average of $4,000, 4.5% interest and a 5 year term, your monthly principal and interest payments to finance your costs would be around $75.

Rock Island Communication’s monthly service costs, including the land line telephone service, range from $80-$180 depending on service speed you choose. Data speeds range from 25Mbps to 200Mbps on fiber.   There is also a one-time hookup fee of $150.   Another possible $15 per month saving worth investigating is the need for a land line. Cellular options do exist with high-speed Internet even in areas with zero cell coverage eliminating the need for a land line.

As a REALTOR, I wish I could report the number or value assigned to your home by the market for having good Internet service but we don’t analyze the comparable sales that way, YET. National numbers from various sources suggest it is a $5,000-$6,000 value increase to property values.

High speed Internet is not just to stream Mad Men. It is important to Skype for work and with your grandchildren. Telecommuting and just running the regular programs all require decent connections. Timing out is unacceptable.

The decision to participate in a fiber project should be viewed as a capital expenditure to one’s real estate investment. It may be added to your basis and have a favorable impact to your capital gain calculation.

The investment should be considered as part of the resale value of your property.  It is a regular question from prospective buyers during the car ride while viewing properties. You may not be considering selling now but you may want to have your property salable 5-10 years from now when Internet will be even more important.

Internet connections will become more defined in the near future as it relates to real estate and will become more prevalent. Neighborhoods will be defined as those that have and those that have not.   I hope that you will all join in the effort to analyze whether fiber to our neighborhood is feasible.

Neighborhoods that may be included are listed below:

• Laughing Meadow
• Kingfisher
• Heron Lane
• Dogwood Lane
• Deharo
• God’s Pocket
• Forrest Drive
• Arbutus
• Shorett Drive
• Garrison Drive
• Inskeep Lane
• Bufflehead.  

If you have interest, please provide your contact information via emailing to [email protected]. We need your full name, address, phone and email address. With this information, we can insure that you receive all future correspondence.

For more information about the project, please visit www.yachthavenfiber.com or www.rockisland.com as the rate sheets and other articles have been posted.

The purpose of this article is to request your level of interest if you live in the Yacht Haven neighborhoods. This article is for informational purposes and not intended to incorporate the entire process therefore should not be relied upon as doing so.

Important Contact Names:

• Rock Island Communications – Dan Burke   360-378-5884 ext 313
• Islanders Bank – Bruce Martin   360- 378-1269
• Neighborhood Committee members – Dusty Rowland   206-465-3341 and Merri Ann Simonson 360-317-8668

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