Articles filed under Property Values
Rural landholders across Australia may face a disappearing pool of buyers and plummeting values of up to 60 per cent because of neighbouring wind farms, a new, independent report has established. Most reports so far have not produced evidence that rural land holdings have been impaired by wind turbine development. However, registered valuer Peter Reardon has compiled a 30-page dossier on the impacts of wind farms on adjoining or nearby rural farms.
“Estate agents are now advising those wanting to sell their homes to lower the price by 30%. Sadly, some find they cannot sell at all.” Struan Stevenson MEP added: “Some homeowners are suicidal because their homes are worth a fraction of their original cost and many were counting on them for their pensions. The rush to make millions from wind farms is a cruel blow to homeowners whose only crime has been to live in the countryside.”
The Daily Telegraph last month disclosed that Mr Paterson, the Environment Secretary, had compiled a study about how turbines impact the rural economy. ...As a result of the intervention by Mr Davey, the study will now look at the impact of all renewable energy sources on the rural economy, including fracking.
A national study that claims there is "no statistical evidence" that real estate prices near wind turbines are negatively impacted is misleading because it lumps homes close to the turbines with those miles away, according to Wind Wise Massachusetts. ..."Wind turbines near residential areas are devastating to home values," according to Michael McCann, president of McCann Appraisal of Chicago.
The cottage was valued at £130,000, but after two years she was still unable to find a buyer. In June, when a woman withdrew an offer, she received an email explaining the decision, which reads: "Having spoken to Planning again, re the wind turbines, as 475 metres from the house is close, they have confirmed there will be a ‘whooshing' noise and flicker. ...My solicitor has contacted me this morning and said best avoid it and look for somewhere else."
Acres got into heated arguments with Mary Solada, attorney for juwi Wind, and Tim Ochs, who was representing the leaseholders. Acres asked if juwi was going to argue against a property value guarantee, to which Solada said it was an option. "We're not going to consider testimony to eliminate the property value guarantee," Acres said.
The Daily Telegraph has learnt a new Government row over wind farms is blocking a report that could provide official confirmation that the controversial turbines can harm rural areas. ...Chris Heaton-Harris, the Conservative MP for Daventry, said: "There is growing concern over the level of property blight that wind turbines cause. "These are the experts in the industry and they should be listened to."
The company proposing to build the Prairie Breeze wind farm in northwestern Tipton County has been denied its request to eliminate a property value guarantee from one of the conditions for the project. Steve Edson, director of the commission, said he made an administrative decision to deny the request.
Though BZA president Jerry Acres said the board doesn't have the ability to determine the property value guarantee, planning director Steve Edson said the board would dictate the terms of any property value guarantee. He said the county attorney would finalize the agreement with juwi's attorneys for board approval.
The footprint of the project runs about 11 miles from north to south and six miles from east to west. But it is not the size of the footprint that concerns PSC members. "I've never seen a project with as many people inside the project that are not participants," Kalk said. The map of the project includes about 16 quarter sections of land not participating in the project.
When county administrator Jennifer Fish was asked whether she had calculated the dollar amounts of property tax bills that would have to be sent out in Millsfield and Dixville under the DRA's equalized valuations, she replied that she had not done the math but believed they would be exponentially higher. A DRA witness pointed out that the press had widely reported that the capital investment in the Granite Reliable Wind Farm would be in the range of $250 to $275 million.
Correia, who moved to Wellandport to escape the city life, will have one industrial wind turbine erected at the minimum provincial setback of 550 metres from her home. There will be four others within a four-kilometre radius. She doesn't want to live next to the monolithic giants.
About a decade ago, large industrial pork operations were moving into the area, and residents and politicians were concerned about the environmental and fiscal impact of the farms. ...This pattern of events is unfolding all over again, say local realtors, as Haldimand becomes home to one of Canada’s largest wind energy projects.
Realtor Susan Whitehead said she has been trying to sell a property on Weeden Road for two years. That property was put on the market for reasons unrelated to the turbines, but Whitehead said buyers ask about the machines, which are visible across Little Bay, "100 percent of the time." "They ask about the noise, they ask about the flicker, and then they don't put in an offer," she said.
Realtor Nadine Krasnow of Falmouth Fine Properties said she has no doubt that the turbines have affected property values ..."In my opinion, it's had a noticeably chilling affect and it has definitely become more difficult to sell houses there; and the reason is, if people have other choices, which they do, why are they going to buy in a place where value has gone down and it's unclear what will happen in the future?"
Healey noted that the landowners near the proposed wind farms had submitted expert opinion estimating that drop in land values of 20 to 50 per cent. She said the landowners can file a damage claim when the project clears all of its regulatory approvals.
A Federal Court decision has triggered a South Australian parliamentary investigation into whether wind farms can devalue neighbouring properties. The terms of reference have been expanded for a select committee looking into wind farm developments.
Recent studies and testimony by real estate appraisers from around the world indicate that properties within two to three miles of wind turbines have seen their values decline from 25 to 60 percent - with the decreased value being "tantamount to an inverse condemnation, or regulatory taking of private property rights."
An explosion of proposed wind farms near Canberra and their divisive nature have turned communities against them, the Liberal candidate for Hume claims. Angus Taylor said neighbouring farmers were terrified their land values will plunge 30 per cent.
The Prairie Breeze Wind Farm will be allowed to move forward, as long as its developers guarantee it won't diminish property values and turbines are built at least 1,500 feet from property lines. ...the guarantee of property values is telling juwi to "put up or shut up."