Wind turbines blow down resale value of homes: Pedlar

By Heather Wright, Sarnia This Week
GRAND BEND – If you can see a wind turbine from your window, chances are your house is going to sell for a lot less money than you want.  That’s the message Doug Pedlar, a real estate broker with ReMax in Grand Bend, brought to about 300 people in the village recently.  Pedler talked with a number of real estate professionals across the province about the impact of industrial wind turbines on home sales and found studies about the subject from around the world. He says in general, the value of a home within view of the rotating blades takes longer to sell and could sell for 30 percent less than market value.  Read article

8 thoughts on “Wind turbines blow down resale value of homes: Pedlar

  1. Shame on Dalton McGuinty – people spend 40 years to paying off their homes and just like that he’s killed their retirement fund.

  2. Many people in urban areas had plans to sell their homes and retire to the country. If any more wind turbines are built, thats not going to happen either.

  3. Some people would be in the unfortunate
    situation of having homes/properties that
    are totally unmarketable.

  4. This article says that if you can see a turbine out your window, you will probably lose 30% of the value of your home…. so I did a bit of math for Chatham-Kent:

    — 46,614 homes (from 2006 Canada Census)

    — let’s say 20,000 (roughly 40%) of those homes will see a turbine out a window within the next couple of years (turbines can be seen up to 10 km away, and are now planned for almost all of C-K)

    — l assigned an average value for each of those homes of $170000 (which I think is too low since many rural and lakefront homes are much more expensive)

    — so a 30% reduction of the value of each home (.3×170000) is a loss of $51000 per home

    — $51000/home x 20000homes = $1 020 000 000
    (some homes could become completely unmarketable, and some homes are worth much more than the figure I used, so I think the billion dollar estimate is quite a low estimate)

    That’s over a billion dollars robbed from Chatham-Kent homeowners thanks to the wind industry scam !!!!

    • The property tax base will also be reduced by this amount so Chatham-Kent will be the loser in the end.

  5. i don’t think they took into consideration the ones that didnt sell because of wind turbines!

    Home sales and prices up
    Posted 13 hours ago
    Local residential sales remain strong according to the Chatham-Kent Association of Realtors (CKAR).
    Ninety homes changed hands across the municipality in February, an increase of 11% over the same month a year ago.
    That amount is also the best February sales figure since 2008 according to the association.
    “The increase in demand has not yet reached the previous highs of 2008, but we expect total recovery of the market will be realized if this trend continues,” said CHAR president, Teri-Lynn Harlick, in a written release.
    February marked the fourth straight month of very strong demand for resale housing in the region, according to Harlick.
    The average house sold for $141,442 in February, which is a 10% increase over February 2011.
    New listings, consisting of 186 units, in February are also up. Listings rose 18 % compared to the same period last year.
    February also saw a 7% increase in active residential listings, consisting of 649 units

  6. I think you are right Lisa and why do you suppose so many homes are listed (Up 18% ) ? Let me guess, would it have anything to do with the noise and uglynss of so many wind turbines?

  7. Wolfe Island properties are also selling; but only those far from the turbines. MPAC makes its decisions on sales comparisions — so the Kenney’s property was compared with an undeveloped waterfront lot 5km away and another home 11 kms away from the turbines. And the assessor’s report didn’t include the upgrade to the 11 km home (including the addition of a winterized wrap around porch. I heard on CBC that the ARB’s report explaining the decision included buildings that don’t exist including extra garages and a barn (the property is referred to as a farm — it isn’t). This decision by MPAC and the ARB is bogus! Nothing around the Kenney’s house has sold in 4 years (since the wind plant plan was announced). And local businesses are also for sale. The intrepid local news reporter (a wind supporter herself) recently described the economic activity on the island as nil — I believe the quote on the tourism website was “you could roll a bowling ball down the main street and not hit anything.” So much for economic development for that municipality from the turbines. Sounds like a few councillors and their friends made off with $$$ and left their neighbours with properties that can’t sell.

    And take a look at the decision when it comes up on the ARB site. The MPAC dude admitted that there is some preliminary proof of property value declines at Erie Shores!

    The Kenneys have moved the goal post along. There are more appeals waiting in line for Wolfe Island. File your appeal this year!

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