Appraising Contaiminated Wind Turbine Property

Contaiminated Wind Turbine Property
Contaiminated Wind Turbine Property
Appraising Contaminated Wind Turbine Property   Appraisal of Contaminated Wind Turbine Property in the United States- Falmouth Massachusetts    The main issue : noise contamination and property devaluation equals failing health of the residents around the wind turbines and the inability to sleep. As long as the turbines remain the properties remain contaminated   Location, Location, Location  these are the words of your real estate agent. Did you ever ask why doesn't  Zillow.com list wind turbine as a factor for evaluating the property? Did you ever read a real estate advertisement that said great views of giant 70 ton commercial wind  turbine with 7 ton blades cutting through the air 24 hours a day. A plus to the turbine is every day in the morning or the evening you can have shadow flicker through your windows for a few hours .   http://mjoecool.wordpress.com/2013/12/27/blog-thought-assessment-criteria-for-wind-stigma-dec-27-2013/
mark cool December 27, 2013 at 04:10 PM
Actually zillow.com and real estate marketing won't list adverse property factors. Professional Appraisers, however. are mandated by law to do so. "The Appraisal Standards Board (ASB) incorporated this into Advisory Opinion 9 of the Uniform Standards of Professional Appraisal Practice (USPAP). In this Advisory Opinion, the ASB clearly delineates that appraisers must take contamination into account. Further, the Ethics Rule would prohibit an appraiser from knowingly issuing an opinion that misleads the reader into believing that a property is not impacted by on-site or proximate contamination. Also, federal guidelines for appraisal of property for financing purposes obligates the reporting of any known contamination and including the impact of such in the value opinion. The standard Uniform Residential Appraisal Report requires appraisers to note any adverse environmental conditions (either on-site or proximate) and, by implication, report on the impact on value." ~ from http://www.greenfieldadvisors.com/docs/kilpatrick/JK%20Valuation%20of%20Impaired%20Property%20-%20Chapter%206%20formatted.pdf
Blowin Smoke December 27, 2013 at 11:23 PM
In Aug. 2013 Lawrence Berkley National Laboratory released a study on property values near wind turbines. Check it out - http://newscenter.lbl.gov/news-releases/2013/08/27/no-evidence-of-residential-property-value-impacts-near-u-s-wind-turbines-a-new-berkeley-lab-study-finds/ --- "Lawrence Berkeley National Laboratory (Berkeley Lab) analyzed more than 50,000 home sales near 67 wind facilities in 27 counties across nine U.S. states, yet was unable to uncover any impacts to nearby home property values. "This is the second of two major studies we have conducted on this topic [the first was published in 2009 – see below], and in both studies [using two different datasets] we find no statistical evidence that operating wind turbines have had any measureable impact on home sales prices,” says Ben Hoen, the lead author of the new report."
Bill Carson December 27, 2013 at 11:26 PM
Folks , For sale house near 70 ton commercial wind turbine with 7 ton blades .Three years of mitigation home owners want top dollar ? Give it a break ! These people have lost their life savings and you keep riding them !
mark cool December 28, 2013 at 07:55 AM
The Lawrence Berkeley Nat'l Lab report does not stand up to peer-review according to Appraisal Institute Task Group on the Application of Statistical and Market Survey Techniques to the Valuation of Impaired Property & ASTM Task Group on Land Use Restrictions (Brownfields). Report author Hoen (et al) is not Licensed as Appraiser. Hoen does NOT say there is no impact on value. He DOES opine that there is no “statistically significant impact on sale prices”. He admits little knowledge of impacts within 1/2 Mile of turbines – Hoen gave a presentation at the March 7, 2012, AWEA Midwest Summit. See slide 14 – suggests more research needed. Note: Per slide 4, he states his 2009 study indicates “LACK OF CONSISTENT EVIDENCE of post construction effects based on distance from or view of turbines in ALL MODELS”. https://www.wind-watch.org/documents/regarding-ben-hoen-study-on-residential-property-values/. And from a laymans look at Table 7 of the report, there's no denying the existence of a significant property depreciation (28%) for sample properties a mile or less from turbines.
mark cool December 28, 2013 at 08:17 AM
Blowin hastens his lowering level of credibility by puffing-up a study unable to meet peer review requirements. His integrity has been lost to his desire to hide his 'real name', and now his credibility is lost. A double standard of pronouncing wind opponent (I don't like using this term) studies lacking peer review and then touting a study proven to not meet the rigors of peer review is buffoonery. This behavior smacks of bias, close-mindedness and fanaticism. Or simply the workings of the 'village idiot.'
mark cool December 28, 2013 at 09:03 AM
The following information is verbatim from the 2012 Appraisal Institute Annual meeting. Scope of work is “acceptable when it meets or exceeds:... what an APPRAISER'S PEERS’ actions would be in performing the same or a similar assignment. Definition - APPRAISER’S PEERS “other APPRAISERS who have expertise and competency in a similar type of assignment.” USPAP, 2010-2011 Ed. p. U-14, Lines 408-409 and The Dictionary of Real Estate Appraising. Are Economists an appraiser’s peer? NO - unless they are also appraisers. Are Academic Professors of real estate an appraiser’s peer? NO - unless they are also appraisers. Publications of the economic profession are not an appropriate source of information on recognized & generally accepted methods of the real estate appraisal profession. PUBLICATIONS by REAL ESTATE PROFESSORS are not automatically an appropriate source of information on recognized & generally accepted methods of the appraisal profession UNLESS THEY HAVE ALSO BEEN RECOGNIZED BY THE APPRAISAL PROFESSION. (all references from http://www.appraisalinstitute.org/aiconnect/presentations/02aug/Advanced-Statistical-Methods-in-Real-Estate-Appraisal2.pdf
mark cool December 28, 2013 at 05:28 PM
What? No response from Blowin Smoke?
mark cool December 28, 2013 at 05:43 PM
The guy that won't put his real name behind his words...


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