Home Buying in 75022>Question Details

Erika Voelker, Home Buyer in 75022

Is the gas drilling effecting home sales in the flower mound area? There seems to be one on every corner and I have heard bad things them.

Asked by Erika Voelker, 75022 Sat Jul 10, 2010

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6
Bruce Lynn’s answer
Probably just depends on where it is and where you buy and if you get the mineral rights or not. If it is next door and you don't own the rights, then of course it is a pain for the few months of the drilling and the look of the tanks and pipes for production afterwards. There can also be some danger with pipelines. Of course if it is not in your neighborhood and you own the mineral rights and get income, then it is a bonus.
There is drilling all over...Irving, Grapevine, Flower Mound, Denton....welcome to TEXAS. I think if anything it has helped stabilize the economy here and added to home prices when the gas money or Barnett shale money flows into the economy. Of course if you are selling and the rig is active next door with noise and lights and ugly walls...that could affect the sales price at that time.

To search Flower Mound homes check out the link below:
http://www.mlsfinder.com/tx_ntreis/robertbrucelynn?action=ne…
Web Reference: http://www.teamlynn.com
2 votes Thank Flag Link Sat Jul 10, 2010
Bruce Lynn, Real Estate Pro in Coppell, TX
MVP'08
Contact
Naima has about the best information regarding your question on Gas Drilling. You can also go to: http://stopthedrilling.blogspot.com/2010/08/action-alert-att…

As far as affecting sales and values, we had a 152 sales in the first 2quarters this year and 134 sales during the first 2 quarters in 2009. We did have a slowdown in moving larger homes priced over $500k.

Ntreis Statistics Results Flower Mound zip 75022
Jan 1, 2010 to Jun 30, 2010

SLD - 152 Properties Found
Square Feet Bedrooms Full Baths Half Baths List Price Sale Price Price per Square Foot Days on Market
Min 0 2 1 0 $99,990 $98,000 $0 0
Avg 3350 4 2 0 $392,532 $381,116 $113 71
Max 8843 6 6 2 $1,489,000 $1,489,000 $311 433
Summary - 152 Properties Found
Square Feet Bedrooms Full Baths Half Baths List Price Price per Square Foot Days on Market
Min 0 2 1 0 $99,990 $0 0
Avg 3350 4 2 0 $392,532 $117 71
Max 8843 6 6 2 $1,489,000 $311 433
Your Search Criteria Returned 152 Properties



Statistics Results Flower Mound zip 75022
Jan 1, 2009 to Jun 30, 2009

SLD - 134 Properties Found
Square Feet Bedrooms Full Baths Half Baths List Price Sale Price Price per Square Foot Days on Market
Min 1135 2 1 0 $68,250 $76,800 $61 0
Avg 3417 4 3 0 $434,807 $418,089 $122 70
Max 9328 7 8 2 $1,789,000 $1,789,000 $281 478
Summary - 134 Properties Found
Square Feet Bedrooms Full Baths Half Baths List Price Price per Square Foot Days on Market
Min 1135 2 1 0 $68,250 $55 0
Avg 3417 4 3 0 $434,807 $127 70
Max 9328 7 8 2 $1,789,000 $281 478
Your Search Criteria Returned 134 Properties
1 vote Thank Flag Link Fri Aug 20, 2010
I think your concerns are valid. However the city of Flower Mound has put very strict rules on the gas companies. Here is a map that outlines the setbacks the city put forth.

http://www.flower-mound.com/env_resources/pix/Restricted-Dri…

Here is some information they put together after hiriging 3rd party companies to do some testing on the air quality. http://www.flower-mound.com/env_resources/env_resources_airq…

Naima
214-289-8555
Naima@Sumner-Realty.com
1 vote Thank Flag Link Mon Jul 12, 2010
I sold my home in Wellington Estates in December 2009 after living there for 6 years and within 3 months of moving my wife was diagnosed with Bone Cancer. The type of cancer she has is caused by exposure to benzyne which is a waste product of oil and gas drilling. If you do some additional research, you will find that there have been other cases of other blood cancers in adults and children within a 1 mile radius of Wellington Estates in Flower Mound Zip 75022. At the time we sold our home, I was totally unaware of the dangers caused by the drilling in the area but if I knew then what I know now, I would have sold my home for $1 just to get out of the area.
0 votes Thank Flag Link Mon Apr 25, 2011
Erika,

I probably don't need to tell you why Flower Mound is one of the top destinations, in the country. Schools, location, safety, shopping, entertainment, etc... The gas wells are not on every corner and are highly regulated by the Texas Commission on Environmental Quality. If you have not already done so, come look for yourself, and see all that we have to offer. Homes are still selling here, every day.
0 votes Thank Flag Link Mon Jul 12, 2010
Because of the defer documentary on the topic. There is definitely going to be some who perceive it as a negative. At this point it seems that there needs to be more investigation on the effects of being near a gas drilling site. Whether that means being where the actual rig is visible or where they are drilling under the properties. From what I had seen the actual monies a person who owns a house makes monthly are not enough to make you rich. Hopefully the powers that be will investigate the long and short term effects of this type of drilling. Sure the Barnett shale has brought and influx of cash into the area, but if we have learned anything over the past few months it's that just because it makes money doesn't neccesarily means it's good for everyone
0 votes Thank Flag Link Sun Jul 11, 2010
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