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Property values blowing in the wind

Sales records show that Cape Vincent has had a steeper decline in residential property sales than its neighbors and real estate professionals are starting to blame proposed wind power developments. "People do not want to buy near windmills," said Amanda J. Miller, owner of Lake Ontario Realty, Dexter, who specializes in waterfront property sales. "They avoid purchasing in towns like Cape Vincent."

REALTOR'S REPORT: Proposed turbine projects put damper on residential property sales in Cape Vincent

Sales records show that Cape Vincent has had a steeper decline in residential property sales than its neighbors and real estate professionals are starting to blame proposed wind power developments.

"People do not want to buy near windmills," said Amanda J. Miller, owner of Lake Ontario Realty, Dexter, who specializes in waterfront property sales. "They avoid purchasing in towns like Cape Vincent."

She presented her views and a report on property values to the Jefferson County Board of Legislators on Tuesday night.

In other countries that have had wind power development for a while, they have seen 40 percent to 60 percent drops in resale values, she said. Closer to home, she's had clients pull out of deals and refuse to consider areas that are possible sites for wind turbines.

"Even if people don't mind looking at it, they're not going to put their investment in an area where they're going to have turbines depreciate it," Ms. Miller said in a phone interview on Monday. "They don't want to look at them, see them, and others don't want to buy because they don't know what the wind... more [truncated due to possible copyright]  

REALTOR'S REPORT: Proposed turbine projects put damper on residential property sales in Cape Vincent

Sales records show that Cape Vincent has had a steeper decline in residential property sales than its neighbors and real estate professionals are starting to blame proposed wind power developments.

"People do not want to buy near windmills," said Amanda J. Miller, owner of Lake Ontario Realty, Dexter, who specializes in waterfront property sales. "They avoid purchasing in towns like Cape Vincent."

She presented her views and a report on property values to the Jefferson County Board of Legislators on Tuesday night.

In other countries that have had wind power development for a while, they have seen 40 percent to 60 percent drops in resale values, she said. Closer to home, she's had clients pull out of deals and refuse to consider areas that are possible sites for wind turbines.

"Even if people don't mind looking at it, they're not going to put their investment in an area where they're going to have turbines depreciate it," Ms. Miller said in a phone interview on Monday. "They don't want to look at them, see them, and others don't want to buy because they don't know what the wind turbines will do for property values."

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Source: http://www.watertowndailyti...

APR 7 2010
http://www.windaction.org/posts/25534-property-values-blowing-in-the-wind
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