Property Value

Industrywide Issues | Pipelines | Property Value | Statewide WV | West Virginia

Do Property Values Along Pipeline Routes Go Down? Not in WV
July 24, 2018July 24, 2018

One of the oft-repeated canards by antis is that having a drill pad near you, or a pipeline crossing your property, will devalue (lower the value) of your property’s assessment and worth. If you want to sell the property you won’t get as much for it–if you can sell it at all. Who wants to live near a big, ugly drill site, or have an “explosive” pipeline running near the house? Except you can’t even see a drill pad from more than a few hundred feet away after the wells are drilled, and when the pipeline is in the ground and replanted over the top of it–you don’t see or even think about it. Let’s take the later case, of pipelines. Is there evidence that when a pipeline passes through your property, the value goes down? According to property assessors in West Virginia, the answer is “no.” At least not in the short term. Longer term, they say, will have to be watched. IF there are more incidents like the landslide that caused the Leach XPress pipeline to explode, maybe there will be an impact on assessments. But then, if you live in an area where there are frequent landslides, you have bigger valuation problems than a pipeline running through it…
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Industrywide Issues | Pipelines | Property Value | Research

New Report Finds Property Values Not Affected by Pipelines
March 1, 2016March 1, 2016

Can we finally lay to rest the old canard that putting a pipeline across someone’s property lowers that property’s value–or makes it impossible to get a mortgage? Those lies have circulated for years. A new study commissioned by The INGAA Foundation finds, “The presence of an underground natural gas transmission pipeline does not affect the sales prices or value of residential properties.” The study, titled “Pipeline Impact to Property Value and Property Insurability” (full copy below), looked at suburban areas outside of Cincinnati, OH, a rural neighborhood in Clinton, NJ, a master-planned residential community in Prince William County, VA, a small town subdivision in Dallastown, PA, and a suburban area near Jackson, MS. In each and every area the study found “no negative impact on price, and no correlation between price and proximity to pipeline easement.” Case closed…
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Anti-Drilling/Fossil Fuel | Industrywide Issues | Property Value | Research

Duke U Study: Property Values Drop When Marcellus Drilling Begins
December 30, 2015December 30, 2015

Once or twice a year anti-fossil fuel “researchers” at Duke University issue another “publish or perish” term paper that takes aim at the Marcellus/Utica and call it a study. A few weeks ago the latest in a string of such biased reports was issued by Duke–this one claiming that property values go down when Marcellus Shale drilling comes to a community. Three researchers wrote the report. One of the researchers is from the Environmental Defense Fund (EDF). The EDF is as anti-drilling as any of the far-left enviro-Nazi groups like the Sierra Club, Food & Water Watch, various Riverkeepers, et al. But the EDF usually tries to work with the industry, which often ostracizes them from the kooks on their left. It’s disappointing to see the EDF piling on in this latest sham study. The study is titled, “The Housing Market Impacts of Shale Gas Development” (full copy below). The problem for this study is that there are numerous other studies that look at property values and conclude the opposite–that property values go UP when drilling comes to an area. When you dig in to the the Duke study you’ll find that in some cases they did find property values increased, and other cases values decreased. We bring you this study to prepare you for the onslaught of sycophantic mainstream media stories that will mention it a time or two and then move on–typical “drive by” misinformation from the media where truth is the casualty…
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Economic Impact | Industrywide Issues | Marshall County | Property Value | West Virginia

Marshall County Property Values Rise Yearly Thx to Marcellus
February 12, 2015February 12, 2015

In contravention to the erroneous claim by anti-drillers that property values go down when drilling comes to town, Marshall County, WV continues to prove it’s just the opposite. Last year at this time MDN told you that the property values in Marshall County for 2013 had collectively risen an astonishing $605 million–in just one year (see When Drilling Comes to Town, Property Values Go…UP, Not Down). What about property values in 2014? They broke the record, again. Values are up a collective $631 million!…
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Industrywide Issues | Lease & Royalty Payments | Property Value | Supply Chain

Farmers National Opens Minerals Management Branch in Northeast
January 19, 2015January 19, 2015

Farmers National Company (FNC) calls itself the “largest independent mineral management firm” in the country. Started in 1929, the company works with landowners, farmers in particular, to turn their farms into profitable businesses. They also list and sell agricultural properties–one of the largest real estate firms in the country that do so. But it is their “mineral management” service that caught our eye. In a press release issued today, FNC announced they’ve expanded their mineral management services into Appalachia–Pennsylvania, West Virginia and Ohio (Marcellus/Utica country) to assist landowners with managing oil & gas leases and royalties…
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Industrywide Issues | Marshall County | Property Value | West Virginia

When Drilling Comes to Town, Property Values Go…UP, Not Down
February 5, 2014February 5, 2014

When drilling comes to town, property values plummet–right? Wrong. The property value plummeting lie is told so often by anti-drillers that they’ve convinced themselves it’s actually true. So let’s take a look at property values in one of the most shale-drilled counties in West Virginia–Marshall County. Property values in Marshall County for the 2014 tax year have gone UP a total of $158.2 million. Huh. What about last year? In 2013 property values in Marshall County went UP by $605 million! Must be an anomaly. Go back another year. OK–property values in Marshall County in 2012 went UP by $335 million. The reason, according to county officials, is Marcellus Shale drilling.

Contrary to the popular anti-drilling lie, it seems when drilling comes to town, property values actually go UP, not down. We wonder how many other arguments anti-drillers spin where the truth is opposite of their claims? Here’s more on the good news of zooming property values in Marshall County, WV:
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Energy Services | Ethane | Industrywide Issues | Odebrecht | Processing Plants | Property Value | West Virginia | Wood County

Life is Good in Parkersburg, WV Thx to Cracker Plant Talk
January 10, 2014January 10, 2014

Even though it’s not yet a done deal, just the fact that Brazilian-based Odebrecht announced they might build a several-billion dollar ethane cracker plant in Parkersburg, WV is enough to cause a rush on real estate in the area. Empty office buildings are getting snapped up, hotels are calling the country economic development agency about possible new construction, and in one case a physician has contacted Parkersburg about setting up a practice specifically targeted at oil and gas workers. Life is suddenly very good around Parkersburg…
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Industrywide Issues | Marshall County | Property Value | West Virginia

Shale Drilling Leads to Higher Property Values in WV
January 9, 2014January 9, 2014

One of the old, trite, and untrue arguments trotted out by anti-drillers is that when drilling comes to town, property values decrease. It shouldn’t surprise you, if you read MDN, to learn that the exact opposite is true. The latest evidence of that comes to us from one of the most horizontally drilled/fracked counties in West Virginia: Marshall County.

Officials in Marshall County report that because of all the drilling in the county, property values in the county have risen by an average 10%. Put another way, if you were to sell your house today, you’ll get 10% more than you would have gotten just a few years ago. The only “problem” is that some peoples’ property tax bills will go up because of it…
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Anti-Drilling/Fossil Fuel | Industrywide Issues | New York | Property Value | Tompkins County

Ithaca, NY Bank Won’t Grant Mortgage on Land with Drilling Lease
November 13, 2013November 13, 2013

New York landowners who are pro-drilling may want to consider whether or not to continue doing business with Tompkins Financial Corporation, a bank/wealth management/insurance firm based in Ithaca, NY. Why? They refuse to give a mortgage on any property under lease with a drilling company. They’re attempting to blame federal guidelines from Fannie Mae as their excuse. Sorry Charlie, that doesn’t fly. It’s anti-drilling prejudice plain and simple.

Two other banks you may want to reconsider doing business with: Spain’s Santander Bank and State Employees’ Credit Union in Raleigh, N.C. Same reason…
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Industrywide Issues | Property Value | Statewide WV | West Virginia | Wetzel County

Property Values/Taxes in WV Counties with Drilling Go….Up!
November 12, 2013November 12, 2013

Landowners who lease their land, drillers and the industry that comes along to get the gas out of the ground and to market, and community members who get jobs at those companies doing the extracting/moving are not the only ones who benefit from the Marcellus and Utica Shale industry. The entire community benefits.

A false allegation (i.e. lie) trotted out frequently by anti-drillers is that property values will tank and tax revenues will go down when drilling comes to town. A study of West Virginia property tax revenues shows just the opposite happens. The state overall–and those areas with the most shale drilling in particular–have seen property tax revenues increase rather dramatically since 2005 when drilling began. An analysis (objective proof) from the West Virginia Center on Budget and Policy that drilling is good for property values and property taxes:
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Industrywide Issues | Marshall County | Property Value | West Virginia

Marshall County, WV Property Values Double in 6 Years
January 29, 2013January 29, 2013

In the past two years, the assessed value of property in Marshall County, WV has increased by 50%. Since 2007, assessed values in the county have gone up 200%! The reason is, of course, almost entirely due to Marcellus Shale drilling and related infrastructure.

How do local officials describe it? “Extraordinary.” Kind of flies in the face of the anti-drilling argument that property values go down when Marcellus drilling comes to town. Here’s the story…

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Broome County | Industrywide Issues | Litigation | New York | Property Value | Statewide NY | Tioga County (NY)

Important Decision in Court Case Affects all NY Landowners
January 17, 2013January 17, 2013

A very important legal decision in New York potentially affects all New York landowners with and without drilling leases who have seen a sharp jump in their property assessments. A Broome County, NY Supreme Court judge has just ruled in favor of four Tioga County, NY landowners who sued to have their property assessments reduced, believing their assessments were unfairly raised because of the perceived increase in land value from the possibility (i.e. “speculation”) that the land may one day see Marcellus Shale drilling.

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Industrywide Issues | Pennsylvania | Property Value | Statewide PA

Have a Marcellus Lease? Forget a Mortgage with ESB Bank
September 4, 2012September 4, 2012

It appears that ESB Bank (located in the Pittsburgh, PA area) is running a scam on Pennsylvania landowners with Marcellus Shale leases. ESB doesn’t tell landowners with leases looking to finance or refinance a mortgage that they won’t approve the application because of the lease—until after the homeowner has spent $500 to have an appraisal done. Oh, and ESB keeps the $500—sorry, no refunds.

Fortunately, ESB Bank seems to be one of the only banks (if not the only) refusing to finance/refinance properties with Marcellus leases. Here is one Pennsylvanian’s story of being fleeced by ESB Bank:

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Cuyahoga County | Industrywide Issues | Ohio | Property Value

Do Property Values Decrease When Drilling is Nearby?
June 11, 2012June 11, 2012

Does nearby drilling have a negative effect on real estate values? It’s a debate that has raged over the past several years. The drilling industry will say that on average, housing prices are unaffected by drilling. But if drilling is close—very close—there seems little doubt that it can negatively impact a homeowner’s property value. It’s one of the issues that those of us who support drilling must face honestly and openly. And figure out how to address it.

A case in point comes from a home owner in the suburbs of Cleveland, Ohio (Cuyahoga County).

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Hydraulic Fracturing | Industrywide Issues | Pennsylvania | Property Value | Washington County

Homeowner Refused Mortgage Because of Nearby Gas Drilling
May 9, 2012May 9, 2012

One of the arguments used against natural gas drilling is that it can drive down property values of nearby homes. While MDN has not seen studies to prove or disprove that argument, we did spot this story about a homeowner in western PA who has been refused refinancing of their mortgage by three different national lenders because there’s active natural gas drilling across the street from their home:

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