Document
Lansink Appraisals and Consulting Real Estate Appraisers & Consultants
A Division of Wellington Realty Group Inc.

MARKET STUDY PIT or QUARRY

January 2014

Diminution in Price (if any) to Residential Real Estate if Located in the Vicinity of an Existing or Proposed Ontario Pit or Quarry

 Ben Lansink, AACI, P.App. Photo by Ben Lansink

Report Author Ben Lansink, AACI, P.App, MRICS

Conclusion

Conclusion: The diminution in Price is expressed as a percent of the Original Price and the Sold Price adjusted only for the passage of time. Properties 1 – 19 are all located within the influence of “an active or proposed pit or quarry or haul route.”
1 58454 Beachville Road, Beachville -39.03%
2 20 Park Street, Beachville -12.18%
3 46 Lynn Crescent, Beachville -22.02%
4 58 Beachville Road, Beachville -11.46%
5 99 Main Street, Beachville -35.19%
6 43481 Zorra Line, Beachville -22.41%
7 E/S Ridgeview Drive, Braeside -19.48%
8 S/S Golf Club Road, Braeside -14.73%
9 2495 Sideroad 2, Burlington -29.06%
10 17666 Heart Lake Road, Caledon -36.93%
11 3410 Charleston Sideroad, Caledon -25.47%
12 18 Massari Street, Caledon -19.84%
13 5 Red Cherry Court, Caledon -8.57%
14 29 Tallwood Drive, West Montrose -32.91%
15 459 Ballinafad Road, Caledon -39.36%
16 16249 Shaws Creek Road, Caledon -37.47%
17 1015 Baseline Road West, London -10.28%
18 1019 Baseline Road West, London -9.81%
19 1021 Baseline Road West, London -14.37%
Median -22.02%
Average -23.19%
LOW -8.57%
HIGH -39.36%

The reader is advised that not ALL sales and resale’s of properties within the influence of a Pit or Quarry resulted in a loss of Price. However, the above 19 suggest that there is a very high probability there will be Price diminution if a residential property is located within the influence of a Pit or Quarry or a Haul Route.

Market Price Study Analyses: Introduction

This is a Market Price Diminution (if any) A study pertaining to properties situated within the influence of “an active or proposed pit or quarry or haul route.” Price is a historic fact, value is an opinion.

Purpose of this MARKET STUDY ANALYSES

The purpose of this study is to provide Price diminution evidence, if any.

The diminution in Price, if any, is expressed as a percent of a property’s Original Price and Sold Price adjusted only for the passage of time.

This study does not estimate the market value of a specific property, rather the percent diminution in Price if any. The percent Price diminution, if any, considers the distance of a property to the pit or quarry or haul route as illustrated via location illustration maps each of which has a scale.

Diminution, Obsolescence, Effects

Diminution in Value is a loss in value to a property caused by obsolescence. While the obsolescence may be curable, it may not be curable by a landowner.

For example, a landowner cannot move an industrial hydropower transmission corridor or relocate a landfill operation nor can he move a Pit or Quarry situated next to or in the vicinity his land.

Obsolescence, one cause of the diminution

  • an impairment of desirability and usefulness caused by new inventions, changes in design, improved processes for production, or
  • external factors that make a property less desirable and valuable for continued use
  • may be either functional or external.

Harm

Most people have an opinion regarding obsolescence and the effect on themselves, their surroundings, their property, and on society. The harm may be real or perceived and it may be different for each property and to each property seller and buyer.

This perception is indicative of how much one is willing to pay for a property.

Background Information

The reader is advised that Ben Lansink, this study’s author, expertise pertains only to analyzing the open market place, based on the actions of willing buyers and sellers. Ben Lansink does not have geotechnical expertise.

Pit and Quarry operations are licensed in Ontario via the Ministry of Natural Resources, Aggregate Resource Act. It has been assumed that for the pits or quarries studied by Lansink in this report, the licensee and permittee or applicant is or will be in compliance with the requirements of the Aggregate Resources Act, the regulations, the Aggregate Resources of Ontario Provincial Standards, the site plans and the conditions of their license or permit.

This Study

If a Pit or Quarry was constructed on a property, would the neighbouring residential properties have the same market value without a neighbourhood Pit or Quarry? Does a Pit or Quarry cause an increase or decrease in property value? There may be endless questions from a potential buyer and/or seller when dealing with a property affected by a Pit or Quarry. When considering property value, these questions are difficult to quantify; however, the overall impact of a Pit or Quarry can be analyzed via the actions of an open real estate market.

The creation of a Pit or Quarry creates apprehension in the general public, which makes the property less desirable and thus diminishes the prices of neighboring property. Continuing scientific uncertainty over the adverse health consequences of a neighboring Pit or Quarry only serves to perpetuate the debilitating effect of Pits or Quarries on property prices.

This study endeavors to isolate any loss in property price caused by a Pit or Quarry. The construction and use of a Pit or Quarry is an event over which a neighboring property owner has no control. Each example in this study illustrates some type of ‘harm’ or ‘injurious affection that can be caused to real property as a result of a Pit or Quarry. The harm may be real or perceived and it may be different for each property and to each property seller and buyer.

This study analyzes specific examples that occurred within the open real estate market in order to isolate the impact on property value caused by a Pit or Quarry.

Note that Ben Lansink is not an advocate, this is an unbiased study.

Beachville Quarry Analysis and Sold Property Locations

Sold Property 1 – 58454 Beachville Road, Beachville

Sale and Resale, Property: 58454 Beachville Road, Beachville
The average Woodstock-Ingersoll Real Estate Board Residential MLS® price in Oct 2004 was $164,915 and in May 2012 when 58454 Beachville Road, Beachville resold the average price was $224,118 resulting in a change of 35.9%. Average Price Oct 2004 $164,915
Average Price May 2012 $224,118
$ Change $59,203
% Change 35.90%
The property, 58454 Beachville Road, Beachville, was purchased by Stark in October 2004 for $175,000 but would have resold May 2012 for $237,823 as a result of the passage of time. Actual Sale Price October 2004 $175,000
% Change 35.90%
$ Change $62,823
Adjusted Price May 2012 $237,823
However the Actual Price when the property resold in May 2012 was $145,000, a loss of -$92,823. Actual Sale Price May 2012 $145,000
$ Difference -$92,823
Diminution in Price: -39.03%. % Difference -39.03%

Property Type:

301 Single-family detached (not on water)

Sold Property 2 – 20 Park Street, Beachville

Sale and Resale, Property: 20 Park Street, Beachville
The average Woodstock-Ingersoll Real Estate Board Residential MLS® price in October 2008 was $196,230 and in May 2011 when 20 Park Street, Beachville resold the average price was $210,612 resulting in a change of 7.33%. Average Price October 2008 $196,230
Average Price May 2011 $210,612
$ Change $14,382
% Change 7.33%
The property, 20 Park Street, Beachville, was purchased by Clark / Crawford in October 2008 for $217,500 but would have resold May 2011 for $233,441 as a result of the passage of time. Actual Sale Price October 2008 $217,500
% Change 7.33%
$ Change $15,941
Adjusted Price May 2011 $233,441
However the Actual Price when the property resold in May 2011 was $205,000, a loss of -$28,441. Actual Sale Price May 2011 $205,000
$ Difference -$28,441
Diminution in Price: -12.18%. % Difference -12.18%

Property Type:

301 Single-family detached (not on water)

Sold Property 3 – 46 Lynn Crescent, Beachville

Sale and Resale, Property: 46 Lynn Crescent, Beachville
The average Woodstock-Ingersoll Real Estate Board Residential MLS® price in December 2007 was $196,870 and in March 2011 when 46 Lynn Crescent, Beachville resold the average price was $213,862 resulting in a change of 8.63%. Average Price December 2007 $196,870
Average Price March 2011 $213,862
$ Change $16,992
% Change 8.63%
The property, 46 Lynn Crescent, Beachville, was purchased by Brown in December 2007 for $212,500 but would have resold March 2011 for $230,841 as a result of the passage of time. Actual Sale Price December 2007 $212,500
% Change 8.63%
$ Change $18,341
Adjusted Price March 2011 $230,841
However the Actual Price when the property resold in March 2011 was $180,000, a loss of -$50,841. Actual Sale Price March 2011 $180,000
$ Difference -$50,841
Diminution in Price: -22.02%. % Difference -22.02%

Property Type:

301 Single-family detached (not on water)

Sold Property 4 – 58 Beachville Road, Beachville

Sale and Resale, Property: 58 Beachville Road, Beachville
The average Woodstock-Ingersoll Real Estate Board Residential MLS® price in May 2005 was $176,847 and in December 2010 when 58 Beachville Road, Beachville resold the average price was $200,898 resulting in a change of 13.6%. Average Price May 2005 $176,847
Average Price December 2010 $200,898
$ Change $24,051
% Change 13.60%
The property, 58 Beachville Road, Beachville, was purchased by MacGinnis / King in May 2005 for $172,000 but would have resold December 2010 for $195,392 as a result of the passage of time. Actual Sale Price May 2005 $172,000
% Change 13.60%
$ Change $23,392
Adjusted Price December 2010 $195,392
However the Actual Price when the property resold in December 2010 was $173,000, a loss of -$22,392. Adjusted Price December 2010 $173,000
$ Difference -$22,392
Diminution in Price: -22.02%. % Difference -11.46%

Property Type:

301 Single-family detached (not on water)

Sold Property 5 – 99 Main Street, Beachville

Sale and Resale, Property: 99 Main Street, Beachville
The average Woodstock-Ingersoll Real Estate Board Residential MLS® price in April 2008 was $199,482 and in November 2009 when 99 Main Street, Beachville resold the average price was $209,178 resulting in a change of 4.86%. Average Price April 2008 $199,482
Average Price November 2009 $209,178
$ Change $9,696
% Change 4.86%
The property, 99 Main Street, Beachville, was purchased by Dunphy in April 2008 for $181,000 but would have resold November 2009 for $189,798 as a result of the passage of time. Actual Sale Price April 2008 $181,000
% Change 4.86%
$ Change $8,798
Adjusted Price November 2009 $189,798
However the Actual Price when the property resold in November 2009 was $123,000, a loss of -$66,798. Actual Sale Price November 2009 $123,000
$ Difference -$66,798
Diminution in Price: -35.19%. % Difference -35.19%

Property Type:

301 Single-family detached (not on water)

Sold Property 6 – 43481 Zorra Line, Beachville

Sale and Resale, Property: 43481 Zorra Line, Beachville
The average Woodstock-Ingersoll Real Estate Board Residential MLS® price in November 2006 was $185,669 and in June 2012 when 43481 Zorra Line, Beachville resold the average price was $252,057 resulting in a change of 35.76%. Average Price November 2006 $185,669
Average Price June 2012 $252,057
$ Change $66,388
% Change 35.76%
The property, 43481 Zorra Line, Beachville, was purchased by Benn in November 2006 for $140,500 but would have resold June 2012 for $190,737 as a result of the passage of time. Actual Sale Price November 2006 $140,500
% Change 35.76%
$ Change $50,237
Adjusted Price June 2012 $190,737
However the Actual Price when the property resold in June 2012 was $148,000, a loss of -$42,737. Actual Sale Price June 2012 $148,000
$ Difference -$42,737
Diminution in Price: -22.41%. % Difference -22.41%

Property Type:

301 Single-family detached (not on water)

Miller Braeside Quarry and Sold Property Locations

Sold Property 7 – E/S Ridgeview Drive, Braeside

Sale and Resale, Property: E/S Ridgeview Drive, Braeside
The average Ottawa Residential MLS® price in June 2009 was $303,445 and in August 2011 when E/S Ridgeview Drive, Braeside resold the average price was $339,415 resulting in a change of 11.85%. Average Price June 2009 $303,445
Average Price August 2011 $339,415
$ Change $35,970
% Change 11.85%
The property, E/S Ridgeview Drive, Braeside, was purchased by Cameron / Morel in June 2009 for $149,900 but would have resold August 2011 for $167,669 as a result of the passage of time. Actual Sale Price June 2009 $140,500
% Change 11.85%
$ Change $50,237
Adjusted Price August 2011 $167,669
However the Actual Price when the property resold in August 2011 was $135,000, a loss of -$32,669. Actual Sale Price August 2011 $135,000
$ Difference -$32,669
Diminution in Price: -19.48%. % Difference -19.48%

Property Type:

301 Single-family detached (not on water)

Sold Property 8 – S/S Golf Club Road, Braeside

Sale and Resale, Property: S/S Golf Club Road, Braeside
The average Ottawa Residential MLS® price in October 2007 was $266,406 and in August 2008 when S/S Golf Club Road, Braeside resold the average price was $276,305 resulting in a change of 3.72%. Average Price October 2007 $266,406
Average Price August 2008 $276,305
$ Change $9,899
% Change 3.72%
The property, S/S Golf Club Road, Braeside, was purchased by Dion in October 2007 for $244,224 but would have resold August 2008 for $253,299 as a result of the passage of time. Actual Sale Price October 2007 $244,224
% Change 3.72%
$ Change $9,075
Adjusted Price August 2008 $253,299
However the Actual Price when the property resold in August 2008 was $216,000, a loss of -$37,299. Actual Sale Price August 2011 $216,000
$ Difference -$37,299
Diminution in Price: -14.73%. % Difference -14.73%

Property Type:

301 Single-family detached (not on water)

Burlington Quarry Analysis and Sold Property Location

Sold Property 9 – 2495 Sideroad 2, Burlington

Sale and Resale, Property: 2495 Sideroad 2, Burlington
The average Hamilton-Burlington & District Real Estate Board Residential MLS® price in February 2007 was $272,953 and in July 2011 when 2495 Sideroad 2, Burlington resold the average price was $349,235 resulting in a change of 27.95%. Average Price February 2007 $272,953
Average Price July 2011 $349,235
$ Change $76,282
% Change 27.95%
The property, 2495 Sideroad 2, Burlington, was purchased by Goulart in February 2007 for $247,900 but would have resold July 2011 for $317,180 as a result of the passage of time. Actual Sale Price February 2007 $247,900
% Change 27.95%
$ Change $69,280
Adjusted Price July 2011 $317,180
However the Actual Price when the property resold in July 2011 was $225,000, a loss of -$92,180. Actual Sale Price July 2011 $225,000
$ Difference -$92,180
Diminution in Price: -29.06%. % Difference -29.06%

Property Type:

301 Single-family detached (not on water)

Proposed McCormick Pit Analysis and Sold Property Locations

Sold Property 10 – 17666 Heart Lake Road, Caledon

Sale and Resale, Property: 2495 Sideroad 2, Burlington
The average Orangeville & District Real Estate Board Residential MLS® price in January 2008 was $289,960 and in June 2012 when 17666 Heart Lake Road, Caledon resold the average price was $372,995 resulting in a change of 28.64%. Average Price January 2008 $289,960
Average Price July 2011 $372,995
$ Change $83,035
% Change 28.64%
The property, 17666 Heart Lake Road, Caledon, was purchased by 2144456 Ontario Inc in January 2008 for $530,000 but would have resold June 2012 for $681,775 as a result of the passage of time. Actual Sale Price January 2008 $530,000
% Change 28.64%
$ Change $151,775
Adjusted Price June 2012 $681,775
However the Actual Price when the property resold in June 2012 was $430,000, a loss of -$251,775. Actual Sale Price June 2012 $430,000
$ Difference -$251,775
Diminution in Price: -36.93%. % Difference -36.93%

Property Type:

301 Single-family detached (not on water)

Sold Property 11 – 3410 Charleston Sideroad, Caledon

Sale and Resale, Property: 3410 Charleston Sideroad, Caledon
The average Toronto Real Estate Board Residential MLS® price in June 2006 was $358,035 and in November 2011 when 3410 Charleston Sideroad, Caledon resold the average price was $480,421 resulting in a change of 34.18%. Average Price June 2006 $358,035
Average Price November 2011 $480,421
$ Change $122,386
% Change 34.18%
The property, 3410 Charleston Sideroad, Caledon, was purchased by Towers in June 2006 for $499,000 but would have resold November 2011 for $669,572 as a result of the passage of time. Actual Sale Price June 2006 $499,000
% Change 34.18%
$ Change $170,572
Adjusted Price November 2011 $669,572
However the Actual Price when the property resold in November 2011 was $499,000, a loss of -$170,572. Actual Sale Price November 2011 $499,000
$ Difference -$170,572
Diminution in Price: -25.47% % Difference -25.47%

Property Type:

301 Single-family detached (not on water)

Sold Property 12 – 18 Massari Street, Caledon

Sale and Resale, Property: 18 Massari Street, Caledon
The average Toronto Real Estate Board Residential MLS® price in May 2006 was $365,537 and in June 2011 when 18 Massari Street, Caledon resold the average price was $476,386 resulting in a change of 30.32%. Average Price May 2006 $365,537
Average Price June 2011 $476,386
$ Change $110,849
% Change 30.32%
The property, 18 Massari Street, Caledon, was purchased by Szeli in May 2006 for $615,000 but would have resold June 2011 for $801,499 as a result of the passage of time. Actual Sale Price May 2006 $615,000
% Change 30.32%
$ Change $186,499
Adjusted Price November 2011 $801,499
However the Actual Price when the property resold in June 2011 was $642,500, a loss of -$158,999. Actual Sale Price June 2011 $642,500
$ Difference -$158,999
Diminution in Price: -19.84%. % Difference -19.84%

Property Type:

301 Single-family detached (not on water)

Sold Property 13 – 5 Red Cherry Court, Caledon

Sale and Resale, Property: 5 Red Cherry Court, Caledon
The average Toronto Real Estate Board Residential MLS® price in June 2008 was $395,918 and in November 2010 when 5 Red Cherry Court, Caledon resold the average price was $437,999 resulting in a change of 10.63%. Average Price June 2008 $395,918
Average Price November 2010 $437,999
$ Change $437,999
% Change 10.63%
The property, 5 Red Cherry Court, Caledon, was purchased by McKee / Wiley in June 2008 for $435,000 but would have resold November 2010 for $481,235 as a result of the passage of time. Actual Sale Price June 2008 $435,000
% Change 10.63%
$ Change $46,235
Adjusted Price November 2010 $481,235
However the Actual Price when the property resold in November 2010 was $440,000, a loss of -$41,235. Actual Sale Price November 2010 $440,000
$ Difference -$41,235
Diminution in Price: -8.57%. % Difference -8.57%

Property Type:

301 Single-family detached (not on water)

Proposed Montrose Pit Analysis and Sold Property Location

Sold Property 14 – 29 Tallwood Drive, West Montrose

Sale and Resale, Property: 29 Tallwood Drive, West Montrose
The average Kitchener-Waterloo Real Estate Board Residential MLS® price in September 2008 was $260,885 and in May 2012 when 29 Tallwood Drive, West Montrose resold the average price was $329,482 resulting in a change of 26.29%. Average Price September 2008 $260,885
Average Price May 2012 $329,482
$ Change $68,597
% Change 26.29%
The property, 29 Tallwood Drive, West Montrose, was purchased by Van Eerten in September 2008 for $950,000 but would have resold May 2012 for $1,199,793 as a result of the passage of time. Actual Sale Price September 2008 $950,000
% Change 26.29%
$ Change $249,793
Adjusted Price November 2010 $1,199,793
However the Actual Price when the property resold in May 2012 was $805,000, a loss of -$394,793. Actual Sale Price May 2012 $805,000
$ Difference -$394,793
Diminution in Price: -32.91%. % Difference -32.91%

Property Type:

301 Single-family detached (not on water)

Proposed Rockfort Quarry Analysis and Sold Property Locations

Sold Property 15 – 459 Ballinafad Road, Caledon

Sale and Resale, Property: 29 Tallwood Drive, West Montrose
The average Toronto Real Estate Board Residential MLS® price in December 2005 was $326,689 and in November 2008 when 459 Ballinafad Road, Caledon resold the average price was $368,582 resulting in a change of 12.82%. Average Price December 2005 $326,689
Average Price November 2008 $368,582
$ Change $41,893
% Change 12.82%
The property, 459 Ballinafad Road, Caledon, was purchased by Northridge Homes Ltd. in December 2005 for $190,000 but would have resold November 2008 for $214,365 as a result of the passage of time. Actual Sale Price December 2005 $190,000
% Change 12.82%
$ Change $24,365
Adjusted Price November 2008 $214,365
However the Actual Price when the property resold in November 2008 was $130,000, a loss of -$84,365. Actual Sale Price November 2008 $130,000
$ Difference -$84,365
Diminution in Price: -39.36%. % Difference -39.36%

Property Type:

301 Single-family detached (not on water)

Sold Property 16 – 16249 Shaws Creek Road, Caledon

Sale and Resale, Property: 16249 Shaws Creek Road, Caledon
The average Toronto Real Estate Board Residential MLS® price in October 1997 was $211,307 and in April 2001 when 16249 Shaws Creek Road, Caledon resold the average price was $251,508 resulting in a change of 19.02%. Average Price 1997 $211,307
Average Price 2001 $251,508
$ Change $40,201
% Change 19.02%
The property, 459 Ballinafad Road, Caledon, was purchased by Northridge Homes Ltd. in December 2005 for $190,000 but would have resold November 2008 for $214,365 as a result of the passage of time. Actual Sale Price October 1997 $395,000
% Change 19.02%
$ Change $75,148
Adjusted Price April 2001 $470,148
However the Actual Price when the property resold in November 2008 was $130,000, a loss of -$84,365. Actual Sale Price April 2001 $294,000
$ Difference -$176,148
Diminution in Price: -37.47%. % Difference -37.47%

Property Type:

301 Single-family detached (not on water)

Byron Quarry Analysis and Sold Property Locations

Sold Property 17 – 1015 Baseline Road West, London

Sale and Resale, Property: 1015 Baseline Road West, London
The average London and St. Thomas Association of REALTORS® Residential MLS® price in November 2004 was $167,344 and in July 2005 when 1015 Baseline Road West, London resold the average price was $178,910 resulting in a change of 6.91%. Average Price 2004 $167,344
Average Price 2005 $178,910
$ Change $11,566
% Change 6.91%
The property, 1015 Baseline Road West, London, was purchased by Appleton / Beckett in November 2004 for $208,500 but would have resold July 2005 for $222,911 as a result of the passage of time. Actual Sale Price December 2005 $208,500
% Change 6.91%
$ Change $14,411
Adjusted Price July 2005 $222,911
However the Actual Price when the property resold in July 2005 was $200,000, a loss of -$22,911. Actual Sale Price July 2005 $200,000
$ Difference -$22,911
Diminution in Price: -10.28%. % Difference -10.28%

Property Type:

301 Single-family detached (not on water)

Sold Property 18 – 1019 Baseline Road West, London

Sale and Resale, Property: 1019 Baseline Road West, London
The average London and St. Thomas Association of REALTORS® Residential MLS® price in June 1991 was $137,278 and in April 2010 when 1019 Baseline Road West, London resold the average price was $236,183 resulting in a change of 72.05%. Average Price 1991 $137,278
Average Price April 2010 $236,183
$ Change $98,905
% Change 72.05%
The property, 459 Ballinafad Road, Caledon, was purchased by Northridge Homes Ltd. in December 2005 for $190,000 but would have resold November 2008 for $214,365 as a result of the passage of time. Actual Sale Price June 1991 $116,000
% Change 72.05%
$ Change $83,575
Adjusted Price April 2010 $199,575
However the Actual Price when the property resold in November 2008 was $130,000, a loss of -$84,365. Actual Sale Price April 2010 $180,000
$ Difference -$19,575
Diminution in Price: -9.81%. % Difference -9.81%

Property Type:

301 Single-family detached (not on water)

Sold Property 19 – 1021 Baseline Road West, London

Sale and Resale, Property: 1021 Baseline Road West, London
The average London and St. Thomas Association of REALTORS® Residential MLS® price in February 1993 was $135,594 and in May 1998 when 1021 Baseline Road West, London resold the average price was $131,299 resulting in a change of -3.17%. Average Price February 1993 $135,594
Average Price May 1998 $131,299
$ Change -$4,295
% Change -3.17%
The property, 1021 Baseline Road West, London, was purchased by Wai / Tong in February 1993 for $120,000 but would have resold May 1998 for $116,199 as a result of the passage of time. Actual Sale Price February 1993 $120,000
% Change -3.17%
$ Change -$3,801
Adjusted Price May 1998 $116,199
However the Actual Price when the property resold in May 1998 was $99,500, a loss of -$16,699. Actual Sale Price May 1998 $99,500
$ Difference -$16,699
Diminution in Price: -14.37%. % Difference -14.37%

Property Type:

301 Single-family detached (not on water)

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