Flower Mound Drilling Impact Study
The summary is on page 8. The bottom line is a -3% to -14% if the property is within 1000 feet of a well.
There are some flaws in how they conducted the study.
They did not take into consideration neighborhoods that do not have a pad site but feed into schools that will be close to pad sites. Many have been experiencing problems selling homes when prospective buyers realize their children will be in a school near a well.
It did not look neighborhoods near large facilities that will be in production for 20 to 30 years. Most of the sites were small and some data was taken after the rigs were taken down.
It did not take into consideration the homes that were eventually taken off the market because they wouldn’t sell at all. We have had a few of those next to drilling. The owners are waiting to sell.
It is lengthy but if you go to the conclusion page, it sums it up. Even here in Flower Mound we have seen some decline in value of homes and property near gas drilling. We know that will increase when our first real “Urban Well” is drilled in the next couple months.
Here is a property value study from Colorado.
Anybody who says drilling near your property is not going to devalue the property is not being honest.
About Sharon Wilson
Sharon Wilson is considered a leading citizen expert on the impacts of shale oil and gas extraction. She is the go-to person whether it’s top EPA officials from D.C., national and international news networks, or residents facing the shock of eminent domain and the devastating environmental effects of natural gas development in their backyards.
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Tim Ruggiero says
I'd like to see a study-or at least a listing of homes on the Barnett Shale that sold AFTER drilling at or anywhere near their pre-drilling market value.
Just because a homeowner doesn't take the time or trouble to document and then protest their case before their respective appraisal districts doesn't mean there isn't devaluation.
Very few people who are fully knowledgeable about the dangers of gas well development (even the potential dangers) and still buy a home next to or have a well(s) tank battery, compressor station, etc., at full market value and will state that the 'encumbrances' were not an influence on their purchase.
I'd also like to see a list of gas company employees, specifically the executive staffs, who have gas well development 200 to 1000 feet from their home and children. I'll bet there aren't any. Mayor Calvin Tillman has offered his home FREE of charge for one year to any gas company exec willing to live in his home and put up with what he and his family-and fellow residents-have for years, now.
The site supervisor for the toxic waste factory at our place also owns 10 acres AND OWNS the minerals-but no gas wells on his property. Hmmm, I wonder why.
We should just all shut up and take one for the "Team" – with "Team" being defined as Titan Operating and Hilliard Minerals.