Orange County NC Website
Browse       Search
APPROVED 5/10/2010 <br /> <br />OC Board of Adjustment – 3/8/2010 Page 35 of 86 <br />1 2 3 <br />4 <br />5 6 7 <br />8 <br />9 10 11 <br />12 <br />13 14 15 <br />16 <br />17 18 19 <br />20 <br />21 22 23 <br />24 <br />25 26 <br />27 <br />28 <br />29 30 <br />31 <br />32 <br />33 34 <br />35 <br />36 <br />37 38 <br />39 <br />40 <br />41 42 <br />43 <br />44 <br />45 46 <br />47 <br />48 <br />49 50 <br />51 <br />52 <br />53 54 <br />Vic Knight: I think it would generate some piece of information but the degree of credibility would not be what it needed to be <br />using sales data that actually creates credible information. <br /> <br />Rob Maitland: Your report that was based on two sets of data, one is related to the Hampton Point neighborhood and the <br />other is related to the Wildwood? <br /> <br />Vic Knight: No. Those are essentially the same. Hampton Point is the name of the commercial component that is adjacent <br />to ….. <br /> <br />Rob Maitland: Wildwood is the residential area and Hampton Point is the commercial zoned, Home Depot and Wal-Mart. <br /> <br />Vic Knight: Correct. <br /> <br />Rob Maitland: When did the Wal-Mart go in there? <br /> <br />Vic Knight: I would have to go back and look up that information. I could guess but I can’t tell you exactly what day it was. <br /> <br />Rob Maitland: That is what you are measuring is the impact that Wal-Mart had on these? <br /> <br />Vic Knight: Correct. <br /> <br />Rob Maitland: Do you know when the Home Depot went in? <br /> <br />Vic Knight: They are virtually the same. They went in within 12 months of each other. <br /> <br />Rob Maitland: When you did the study, you didn’t find out the date that those stores opened? <br /> <br />Vic Knight: That is not what you are looking for. You are looking for the overall impact of appreciation levels that were taking <br />place from an earlier date, earlier before the existence of those commercial operations, which this information goes back <br />nearly 20 some years and this particular commercial facility is much younger than that. You are gauging the effect that it <br />actually had between it started and whenever you stopped that process. <br /> <br />Rob Maitland: Right. That is what I figured. Since you are looking at the impact that Wal-Mart and Home Depot had on <br />these homes that unless a home sold after they opened there is no way to know the impact.? <br /> <br />Vic Knight: Actually, this data shows that. <br /> <br />Rob Maitland: If a house has never been sold after Home Depot and Wal-Mart, there is no way to actually gauge the impact <br />on that particular property.? <br /> <br />Vic Knight: That is not what we are doing. <br /> <br />Rob Maitland: It doesn’t do me any good if you know what a house sold in 1950 and what it sold in 1990 if it sold before the <br />Wal-Mart or the Home Depot. <br /> <br />Vic Knight: It has nothing to do what it sold for, it is not the sales price, and it is an appreciation aspect. It is the difference <br />between the most recent sale and the most subsequent sale prior to that; whatever the last sale and the most recent sale <br />would be. <br /> <br />Rob Maitland: My point is, if y’all want to turn to page 10 of the report…. <br /> <br />Michael Harvey: Please refer to page 80 in your abstract packet. <br /> <br />Rob Maitland: The key to this report is the credibility of the numbers, right?