DAAR Shares Opposition for Proposed AIOD Disclosure Requirements
Proposed amendments to the Airport Impact Overlay District (AIOD) are scheduled to be considered by the Loudoun County Board of Supervisors (BOS) at its Nov. 9, 2022, public hearing. Among these amendments, the county has proposed a disclosure requirement on home transfers within the newly proposed AIOD areas.
The Dulles Area Association of REALTORS® (DAAR) strongly opposes any disclosure requirement imposed on real estate agents regarding airport noise.
DAAR previously encouraged the BOS to utilize provided housing market reports to examine home values in Loudoun County and the AIODs in question. When DAAR was asked to specifically clarify further whether a disclosure would impact property values in Loudoun, DAAR informed that county that, “no data explicitly addresses whether a disclosure regarding airport noise impacts the value of a home.”
DAAR has advised the county to conduct its own research regarding this specific inquiry. DAAR has also urged the county to consider subsidized sound insulation programs to help homeowners combat noise pollution and lowering of home values in high-noise areas.
Leading residents to believe DAAR has data to support disclosure requirements and their lack of impact on home values is misinformative. DAAR does not measure data on offers received on homes for sale. DAAR’s data only evaluates home sales in Loudoun based on the recorded purchase price. Conversations and negotiations throughout the home selling and buying process, such as the disclosure of airport noise that results in a lowering of property value, are not statistically measurable through DAAR.
November 7, 2022