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Approved 3113117 <br />1 <br />2 Michael Ogburn: Not from most of it. There's a few back up to Holly Springs Road that you would <br />3 be able to but the majority of the neighborhood is far enough removed that you cannot. <br />4 <br />5 Barry Katz: Ok. <br />6 <br />7 John Price: What else, if anything else, did you take into consideration in arriving at the impact on <br />8 the value of... <br />9 <br />10 Michael Ogburn: Ok... What seemed to me for this instance could be the most similar was that <br />11 differential between Sunset Ridge and Cobble Ridge because I'm not immediately adjacent to the <br />12 cell phone tower. And we found that to be 12 %, so that seems to be a reasonable conclusion. If <br />13 we're up here... <br />14 <br />15 Matt Hughes: I'm sorry; I'm trying to check out the source that you have in your report. Apparently <br />16 it plays music. <br />17 <br />18 Michael Ogburn: Pardon? It's attached... Ok. So, he's up on top of the hill... I was driving out to <br />19 Jordan Lake the other day. I was up on top of the hill. The next ridge down I could see the cell <br />20 phone tower. That was 5 -miles away. I mean, 200 -feet is probably 100 -150 above most trees? It <br />21 sticks out a long way. They're tall. You can see them a long way if you have the vantage point. <br />22 <br />23 John Price: With respect to the article in the survey report, attached to your own report? <br />24 <br />25 Michael Ogburn: Yes sir. <br />26 <br />27 John Price: Is that the type of information, based on your experience, an expertise real estate <br />28 evaluation that you and other real estate appraisers would take into consideration in performing <br />29 this type of appraisal? <br />30 <br />31 Michael Ogburn: Yes. Now I didn't rely on them, but I certainly believe that they're supportive, <br />32 those conclusions were similar to the conclusions that I drew from looking at the market place. So <br />33 it seems reasonable to include them that somebody else found similar data that I did. <br />34 <br />35 John Price: At my request did you review the impact analysis report prepared by David Smith? <br />36 Michael Ogburn: I did. <br />37 <br />38 John Price: As well as the attachments to the report? <br />39 <br />40 Michael Ogburn: Yes sir. <br />41 <br />42 John Price: Do you agree or disagree with his opinion that the proposed development will <br />43 maintain or enhance the value of contiguous properties? <br />44 <br />45 Michael Ogburn: I do not agree. <br />46 <br />47 John Price: Aside from what you have already related, has it been in you experience in all the <br />48 years you've been involved in appraising and valuing properties, has it throughout that experience <br />49 been your experience that the square foot price of a smaller home, all things relatively being <br />50 equal, will be larger at a higher sales price? <br />OC Board of Adjustment — 12/12/16 Page 88 of 156 <br />