Gone with the wind

By John Miner, The London Free Press
Homeowners close to wind turbines can expect to see much of their property values blown away, a provocative study by a London property appraiser has found. Sellers in the future could even find their properties are worth nothing, says the study by Ben Lansink of Lansink Appraisals and Consulting.

“If there is no buyer, there may be no value,” Lansink concluded. Industrial wind turbines have become a huge sore point for many in Ontario, with about 1,200 of the often-unwanted behemoths now in operation now and with the province having signed deals that will more than double that number in the next couple of years.

Lansink, who’s been qualified as a real estate expert in court proceedings, analyzed properties in the Shelburne area, north of Orangeville, home to Ontario’s first major industrial wind farm — the 133-turbine Melancthon Wind Facility.

He found five homes that had been bought by the wind farm developer, Canadian Hydro Developments, a subsidiary of Calgary-based TransAlta, at fair market value. Canadian Hydro later put those houses back on the market and they sold for an average loss of 38%. One brought 58.5% less.

“The erection of a wind turbine creates apprehension in the general public, which makes property less desirable and thus diminishes the prices of neighbouring property,” Lansink said. Read article

5 thoughts on “Gone with the wind

  1. Many times these homes are left empty or destroyed. And, since they were sold at market value to the wind company in studies probably done in our area of the US they would be counted as sales with no lost value since they’d been bought at market value and then torn down – which would not have been shown in the study. One College that has a center for renewables students have done, (I believe 2 studies) and both came out of no lost value. Ha

    • Right, only the sale to the wind companies would have been recorded. Tearing the houses down is not a sale. If the vacant property is sold then that is recorded as just a vacant lot with only the land value recorded but this represents a tax loss for the local government and the province. These are good records to have.

  2. Nice realtor. Sell the property at a price too good to pass up and make them sign a noise disclosure trapping them. Good luck sucka…..

  3. What is most interesting about those developer resales is the buyers had to grant to the wind developer an “easement in gross”, effectively preventing buyer from filing any future action due to noise, vibration, flicker or anything else caused by turbines. Thus, the price paid and received reflects true market sales with the turbine nuisances/impacts explicitly included in the price consideration. The same impacts, incidentally, that many others experience with no acknowlegment or compensation from the wind industry.

    Those resales are, in my opinion, an admission by the wind industry that values indeed decline nearby, or why else would a “deep pocket” owner sell so low?

    • Indeed, it is an admission that property values dropped and if the house has to be torn down then only vacant lot taxes are paid.
      Need to know by how much the value has dropped. Assessment records will reveal this. Makes a lot of work for rural Ontarians to have to do.

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