MARCH, 2009: One study, of people living near the Mars Hill Wind Turbine Project in the State of Maine, presented to the Maine Medical Association in March 2009 showed that 100% of respondents in the study felt quality of life was affected and 100% considered moving. The study further concluded that 73% said they could not afford to move and 90% said a recent professional appraisal showed loss of home value made it impossible to move away. http://www.batr.net/cohoctonwindwatch/
FEB. 13, 2009: When Derry Gardner of Gardner Appraisal Group, Inc. out of San Antonio, Texas, hears that turbines do not affect property values or neighboring property values, he says, “it goes against common sense, which automatically raises a red flag.” Gardner says a 350 acre ranch in Erath Co., Texas, is one example. It was purchased at top price for a retirement homestead. The new owner learned that 27 wind turbines were to be placed within a 1.5 mile radius and put the ranch up for sale. A prospective buyer agreed to the sales price but backed out when the turbine project was disclosed. The seller offered a 25% discount but the prospective buyer declined. Gardner states that properties with turbines averaged a 37% decrease in value, properties 2/10 to 4/10 of a mile from turbines had a 26% average drop and properties in which turbines were up to 1.8 miles away experienced an average value decrease of 25%. http://betterplan.squarespace.com/todays-special/2009/3/26/32609-this-old-house-in-the-shadow-of-a-40-story-wind-turbin.html
NOV. 2008: Chris Luxemburger, Real Estate Broker with Sutton Group - Professional Realty, Inc, did a three year study on the land values inside a windmill zone. Based on a sample of 600 properties that sold in the windmill areas over a period of three years, it showed that the number of days on the market were more than double for those properties inside the windmill zones. The sold price was on average $48,000 lower inside the windmill zones than those outside. Also, the number of homes not absorbed (not sold) was 11% vs 3%. http://ruralgrubby.files.wordpress.com/2008/12/chris-luxemburger-presentation1.pdf
APR. 30, 2008: According to Michael McCann of McCann Appraisals LLC in Chicago, IL, “Turbines are large-scale industrial machines/projects, which surround homes, unlike any other large-scale projects. I have never seen a situation akin to wind farms where an industrial zoning ‘overlay’ encompasses and surrounds existing homes”. McCann, a Certified General Real Estate Appraiser who has qualified as an expert witness on real estate value & zoning cases in 20 states, has reviewed residential sale data for 46 transactions new the boundaries of Illinois’ first wind project, Mendota Hills, in Lee County that occurred after turbines were erected from 2003 thru March 2005, “a strong market overall.” The homes averaged a sale price of $74.63 per square foot, he says. A separate group of sales much further removed from the project averaged $102.94 per square foot. He says the sales data reveals that the typical home within a mile or two of project boundaries is 25% lower in value than for more distant homes. Some examples range upward of 30% and, in softer current market conditions, he anticipates value discounts exceeding 30% and perhaps as high as 50%. http://betterplan.squarespace.com/todays-special/2009/3/26/32609-this-old-house-in-the-shadow-of-a-40-story-wind-turbin.html
Land owner, John Servo of Naples, NY, had a recent appraisal of a 25-acre parcel near the Steuben County line, where developer, Ecogen’s, turbines are planned, came back with a reduced value. Based on the appraisal, the Naple’s assessor lowered the assessment by 60% because the land was deemed too close to future turbines. http://www.mpnnow.com/archive/x1393569912/Naples-hears-from-windmill-supporter-turned-opponent