Articles filed under Property Values
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.
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."
At the center of the battle between opponents and proponents of the Prairie Breeze project is the potential impact on property values in the area. ...Appraiser Mike McCann, representing the CRD, said a wind farm will change the character of the area from residential and rural to industrial and decreases the desirability of selling a residential property.
In Tipton County, developers juwi Wind Energy say there's no data to support the contention that wind farms affect property values. But even the authors of the only comprehensive U.S. study on the subject, a 2009 U.S. Department of Energy-funded look at more than 7,000 properties near wind farms, weren't willing to go that far.
"All it takes is just saying well there is a project that has been proposed that entails bringing 33 to 37 huge wind turbines and people just say oh no no no we'll walk away from that." This is the second time Best's home has been put on the market and without a buyer she is left with few options.
Janet Grace, Real Estate Agent, Royal LePage: "All it takes is just saying well there is a project that has been proposed that entails bringing 33 to 37 huge wind turbines and people just say oh no no no we'll walk away from that." This is the second time Best's home has been put on the market and without a buyer she is left with few options.
Industrial-scale energy projects on Bureau of Land Management lands are pushed through by energy companies touting jobs and economic booms to communities. Not mentioned is the potential loss of tourism revenues if people stop coming to recreational areas that are visually blighted.
"The wind turbines near residential areas are devastating to home values," McCann said. His firm has conducted more than 20 appraisals of homes near existing or proposed land-based wind turbines in more than two dozen communities across the country.
I spoke with the expert juwi had at the open house, Dr. Mark Thayer of San Diego State University. He admitted that the studies do not look at the number of turbines in proximity to the houses. It seems most houses have just a few within a 1-2 mile radius. According to the filed plans, there will be six or seven within a half-mile of us, 17 within 1 mile, and 35-37 within 2 miles! And we are not unique; many other homes around here are in the same boat.
In a decision believed to be the first time an Australian court has recognised the adverse financial impact of wind farms for neighbours, magistrate Kate Hughes ruled a property would be worth 17 per cent less if a 14-turbine facility were erected next door. For one part of the property, in regional Victoria, she accepted a 33 per cent fall in value was likely.
Woody Miller, a realtor at Coldwell Bank and Old Mill Properties in Bristol, said the Groton wind farm has likely already slowed the sale of one of his properties in neighboring Rumney. "I would argue that wind farms here will have a substantial effect on fair-market property values. If you eliminate even a few of the pool of potential buyers for a particular property, it hurts property sales and therefore values."
Mr Jelbart and his neighbours estimate the wind farm development will wipe $20 million from the value of nearby properties. "Our land is being used as a buffer zone for an industrial site," he said.