Worry for homeowners facing the threat of fracking
http://bit.ly/Mens3U
A protester demonstrates their feelings about fracking close to Ardingly reservoir, West Sussex. Photography: Chloe Parker/Alamy Fracking has already generated smaller earthquakes in the Northwest, but homeowners in the vicinity of shale gas extraction may face an even worse aftershock: falling house prices. John Johnson, head of estate agents Farrell Heyworth in the Lancashire town of Poulton-le-Fylde, near one of the most important sea sites, says: "there are lots of properties that came into the market, and some of the owners say they want to get before prices begin to drop." Fracking involves drilling a well hundreds of metres into the ground and pumping full of water, sand and chemicals to fracture the rock and release the methane gas. Process was stopped in the United Kingdom in June 2011 after two earthquakes in two months near Blackpool followed drilling in places in Lancashire by Cuadrilla resources. An independent scientific report recommended recently that fracking could resume, subject to stricter controls, but fracking companies are still awaiting the results of a review by the Government. Meanwhile says it is considering site Cuadrilla in which beside its drill rig. The company, one of the four with a permit to search for shale gas in the United Kingdom, has 10 seats so far, most are in Lancashire, but the company also has locations in Cowden, Kent, Lingfield in Surrey, and planning permission for exploratory drilling in Balcombe in West Sussex. It says it has no plans to carry out work on the southern areas at this time. Richard Sexton, Director of esurv, the UK's largest supplier of residential valuation, said the level of public awareness about fracking is still low. He added that as awareness increased, fracking could affect House prices, "spoil properties in the areas that are perceived to be affected". He believes that the effect would be similar for high-speed rail line is planned from London to Birmingham, HS2 – painful but relatively short term: "prices went down 10% to 20% within one mile of the proposed route and prices will remain low until the line is up and running. Reality is never quite as bad as we think it is. " Searchflow, a company specialized in transfer documents, searches, said it had seen an "explosion" in the number of searches that requests information on wind turbines and HS2 and anticipate similar interest of fracking websites. This is where homeowners can find a seller at all. "I am sure that most of the housing stock in the UK would resist an earthquake. But it is a buyer's market right now, so why would they want to buy in an area where fracking takes place? "Sexton said. But: while the Government has established the system of compensation for people unable to sell their homes in the vicinity of HS2, has no plans for a similar system for victims of fracking Cuadrilla. A spokesman for the company said it had no evidence that house prices would be low because of their work. Anecdotal evidence suggests that plans for fracking already deterring potential property buyers are considering home in the Northwest. A posting on the Web site stopfyldefracking said: "I currently live in Cheshire and intend to move to St Anne's when I learned of the shale prospecting/exploration. I have very strong feelings about how fracking, and the likelihood that continuing would have great significance for any decision to relocate. " Another said: "We find the House in St Anne's we wanted to buy last weekend but could not move forward while the problem is." Brian Baptie of the British Geological Society said all earthquakes are caused by fracking, while capable of causing superficial damage, would be too small to cause serious structural faults in residential property. But homeowners in the United States who have property in areas where shale gas drilling has taken place has suffered house price devaluation of a multitude of fracking-related causes, some that look that will survive the gas. Property owners in the United States can earn money by renting their land for shale gas extraction. A study in Colorado in 2001 in La Plata County showed that properties of coal-bed methane gas wells were valued 22% in less than similar properties without wells. A report by save the Colorado from Fracking group, said: "the so-called" gas zone "is an identifiable part of the La Plata County and according to real estate agents, buyers and agents representing buyers and sellers, [buyers] can tend to avoid this area. Perceived direct effects involving changes to views, noise, traffic and – indirectly because of traffic – the airborne dust and road damage. According to interviewees, the risks to the surface owner perceives are the pollution of groundwater, seeps of methane gas and coal fires. " Google the words "fracking" and "US", and many accounts, poisoned water and residents suffer strange and unexplained illnesses. Many homes in the more sparsely populated areas in the United States have their own water sources and high levels of infection have been recorded since the emergence of fracking. Many U.S. lenders are not surprising, unwilling to offer mortgages on properties leased to gas drilling, while others provide that homeowners must get permission from their mortgage lender before they sign a lease. A couple in Pennsylvania were denied a mortgage of three lenders because of gas drilling in a neighbouring property. One of the creditors concerned, Quicken loans, said: "in some cases conditions are fulfilled as gas wells and other structures in adjacent lots, which can significantly impair a property's value." Back in the UK, the Halifax, one of Britain's biggest mortgage lender, says: "Fracking is not common in the UK and beyond, there is no set policy. As with all other issues affecting the mortgage lending value, assessed properties on its own merits, based on the market conditions reflects the effects of any issue about the overall value of the property. This is the same in places where fracking could take place. If the issue was problematic for local properties in a particular area would be taken into account. " Homeowners in the Fylde Coast stretching from Lytham and St Annes at its southern most point Preesall and Knott in the North have reported problems even before gas extraction begins. Posting on the website stopfyldefracking, a Wrea Green homeowner said his home has suffered damage during the geophysical survey: "I have had injuries on a bit outside of masonry with a big crack. I suspect I have more hidden damage and has initiated proceedings against Cuadrilla. " Another of the Greenhalgh, Kirkham said: "one of the Cuadrillas shell vehicles parked outside my house and began operation. For over an hour, my house was subjected to horrendous vibration, living nearby came from their houses and many likened to noise and vibrations as an earthquake. After that I noticed a crack in my kitchen wall, damaging a concrete plan, and several tiles dislodged in my bathroom. Malcolm Tarling, spokesman for the Association of British insurers, said the damage caused by the earthquake and explosion would be covered by the house insurance and insurers would continue to offer protection to existing policyholders affected by such problems. "Claims are most likely to relate to subsidence, landslip or cancellation. If you have a history of invasions, some insurers may refuse to cover as a new customer, but there are systems that enable people in these circumstances to get insurance. " View the original article here
http://bit.ly/Mens3U
A protester demonstrates their feelings about fracking close to Ardingly reservoir, West Sussex. Photography: Chloe Parker/Alamy Fracking has already generated smaller earthquakes in the Northwest, but homeowners in the vicinity of shale gas extraction may face an even worse aftershock: falling house prices. John Johnson, head of estate agents Farrell Heyworth in the Lancashire town of Poulton-le-Fylde, near one of the most important sea sites, says: "there are lots of properties that came into the market, and some of the owners say they want to get before prices begin to drop." Fracking involves drilling a well hundreds of metres into the ground and pumping full of water, sand and chemicals to fracture the rock and release the methane gas. Process was stopped in the United Kingdom in June 2011 after two earthquakes in two months near Blackpool followed drilling in places in Lancashire by Cuadrilla resources. An independent scientific report recommended recently that fracking could resume, subject to stricter controls, but fracking companies are still awaiting the results of a review by the Government. Meanwhile says it is considering site Cuadrilla in which beside its drill rig. The company, one of the four with a permit to search for shale gas in the United Kingdom, has 10 seats so far, most are in Lancashire, but the company also has locations in Cowden, Kent, Lingfield in Surrey, and planning permission for exploratory drilling in Balcombe in West Sussex. It says it has no plans to carry out work on the southern areas at this time. Richard Sexton, Director of esurv, the UK's largest supplier of residential valuation, said the level of public awareness about fracking is still low. He added that as awareness increased, fracking could affect House prices, "spoil properties in the areas that are perceived to be affected". He believes that the effect would be similar for high-speed rail line is planned from London to Birmingham, HS2 – painful but relatively short term: "prices went down 10% to 20% within one mile of the proposed route and prices will remain low until the line is up and running. Reality is never quite as bad as we think it is. " Searchflow, a company specialized in transfer documents, searches, said it had seen an "explosion" in the number of searches that requests information on wind turbines and HS2 and anticipate similar interest of fracking websites. This is where homeowners can find a seller at all. "I am sure that most of the housing stock in the UK would resist an earthquake. But it is a buyer's market right now, so why would they want to buy in an area where fracking takes place? "Sexton said. But: while the Government has established the system of compensation for people unable to sell their homes in the vicinity of HS2, has no plans for a similar system for victims of fracking Cuadrilla. A spokesman for the company said it had no evidence that house prices would be low because of their work. Anecdotal evidence suggests that plans for fracking already deterring potential property buyers are considering home in the Northwest. A posting on the Web site stopfyldefracking said: "I currently live in Cheshire and intend to move to St Anne's when I learned of the shale prospecting/exploration. I have very strong feelings about how fracking, and the likelihood that continuing would have great significance for any decision to relocate. " Another said: "We find the House in St Anne's we wanted to buy last weekend but could not move forward while the problem is." Brian Baptie of the British Geological Society said all earthquakes are caused by fracking, while capable of causing superficial damage, would be too small to cause serious structural faults in residential property. But homeowners in the United States who have property in areas where shale gas drilling has taken place has suffered house price devaluation of a multitude of fracking-related causes, some that look that will survive the gas. Property owners in the United States can earn money by renting their land for shale gas extraction. A study in Colorado in 2001 in La Plata County showed that properties of coal-bed methane gas wells were valued 22% in less than similar properties without wells. A report by save the Colorado from Fracking group, said: "the so-called" gas zone "is an identifiable part of the La Plata County and according to real estate agents, buyers and agents representing buyers and sellers, [buyers] can tend to avoid this area. Perceived direct effects involving changes to views, noise, traffic and – indirectly because of traffic – the airborne dust and road damage. According to interviewees, the risks to the surface owner perceives are the pollution of groundwater, seeps of methane gas and coal fires. " Google the words "fracking" and "US", and many accounts, poisoned water and residents suffer strange and unexplained illnesses. Many homes in the more sparsely populated areas in the United States have their own water sources and high levels of infection have been recorded since the emergence of fracking. Many U.S. lenders are not surprising, unwilling to offer mortgages on properties leased to gas drilling, while others provide that homeowners must get permission from their mortgage lender before they sign a lease. A couple in Pennsylvania were denied a mortgage of three lenders because of gas drilling in a neighbouring property. One of the creditors concerned, Quicken loans, said: "in some cases conditions are fulfilled as gas wells and other structures in adjacent lots, which can significantly impair a property's value." Back in the UK, the Halifax, one of Britain's biggest mortgage lender, says: "Fracking is not common in the UK and beyond, there is no set policy. As with all other issues affecting the mortgage lending value, assessed properties on its own merits, based on the market conditions reflects the effects of any issue about the overall value of the property. This is the same in places where fracking could take place. If the issue was problematic for local properties in a particular area would be taken into account. " Homeowners in the Fylde Coast stretching from Lytham and St Annes at its southern most point Preesall and Knott in the North have reported problems even before gas extraction begins. Posting on the website stopfyldefracking, a Wrea Green homeowner said his home has suffered damage during the geophysical survey: "I have had injuries on a bit outside of masonry with a big crack. I suspect I have more hidden damage and has initiated proceedings against Cuadrilla. " Another of the Greenhalgh, Kirkham said: "one of the Cuadrillas shell vehicles parked outside my house and began operation. For over an hour, my house was subjected to horrendous vibration, living nearby came from their houses and many likened to noise and vibrations as an earthquake. After that I noticed a crack in my kitchen wall, damaging a concrete plan, and several tiles dislodged in my bathroom. Malcolm Tarling, spokesman for the Association of British insurers, said the damage caused by the earthquake and explosion would be covered by the house insurance and insurers would continue to offer protection to existing policyholders affected by such problems. "Claims are most likely to relate to subsidence, landslip or cancellation. If you have a history of invasions, some insurers may refuse to cover as a new customer, but there are systems that enable people in these circumstances to get insurance. " View the original article here
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