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APPROVED 5/10/2010 OC Board of Adjustment – 3/8/2010 Page 40 of 86 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 impact from his theory of the Wal-Mart and Home Depot. There are no sales are there? In fact, the only houses that have sold are at least three times maybe four times as far away as what we are talking about and if you look at the numbers, you will see that each and every one of those homes that were sold after the Home Depot and the Wal-Mart, each and every one of them show a negative decline in appreciation as opposed to the years that lead up to the previous sales. It is inescapable. The fact is that these homes have not been sold, perhaps because they can’t, these homes have been sold, at less of a rate of appreciation than you experienced prior to the Home Depot and Wal-Mart so in fact, this analysis supports our argument. I would like to ask you another question. Did you study the appreciate rate of the entire county when you did this study? Vic Knight: No. Rob Maitland: Again, thinking big picture, what relevance does it have if this neighborhood was going up five, ten, and fifteen or twenty percent if all the other neighborhoods in the county were going up 40, 60 or 80? Unless you have some way to compare, all you are looking at are these homes here in this one little neighborhood. So if we look at it and say these houses went up 3%. We don’t know if that is good or bad because other houses in the county, not impacted by Wal-Mart or Home Depot might have gone up 20%. These houses might have been going up 20 if there had not been any Home Depot or Wal- Mart. Let’s take a look at the other neighborhood. Here is the Sunny Acres Pet Resort, Defendant’s Exhibit 3. When was the Sunny Acres Pet Resort opened? Vic Knight: Probably 30 some years ago, maybe 40 years ago. Rob Maitland: So this resort was opened 30 years ago and we are trying to determine the impact of these homes that were sold 30 years later. How did you do that? Did you measure this neighborhood against another neighborhood? Did you measure them against the other houses in town? Vic Knight: No. I measured them against the properties that are at the Hampton Point location in Wildwood. Rob Maitland: Wouldn’t all these homes pretty much be equally affected by this? If they are affected. Vic Knight: They are affected by whatever that affects may happen to be. Rob Maitland: But in this case, the Sunny Acres Pet Resort is actually inside of a commercial park so did your report analysis the affect of the actual pet resort where the effect that these homes are located within a half mile of a commercial park? Vic Knight: They are the closest residential neighborhood to that particular location. And that location had a neighborhood that other kennel facilities simply didn’t have. Rob Maitland: These homes that you picked, how are they similar to the homes that are situated on the minimum two acre lot homes that we are talking about in the rural buffer zone where the Lonsway’s and the Southerland’s live. How big are those lots? Vic Knight: The effect of the sale of those homes with its proximity to this particular kennel facility is about the effect of the sale of those homes. Rob Maitland: My question is, aren’t you supposed to pick similar homes that are similarly situated? What is similar about these homes? What sizes are their lots? Vic Knight: It is a body of sales information. Rob Maitland: I am assuming that you are telling me what I already know which is these are quarter acre lots? Vic Knight: I think they are a little bigger than that but that is probably about right. They are probably closer to quarter acre lots.