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High Tension Power Lines Shown to Have No Effect on Home Values - 2009-08-16 |
Last week the summer issue of the prestigious Appraisal Journal came out, and it contained a lengthy story on the widely believed negative effect that high voltage power lines have on the value of a house located near them. Amazingly, these experts studied houses in Connecticut located under or near high voltage power lines every which way but loose, and they came up with the conclusion that proximity to power lines has no impact on home values. None.
Sorry, but I just don't believe it.
Don't get me wrong. I am not suggesting that living under a big electric line will do anything bad to you. In fact, for all I know, you might wake up feeling more energized every morning.
But I simply don't believe that there is no impact on value.
In 1978, I passed the real estate exam. Then my buddy Van Johnson and I interviewed several brokers to find just the right one. I should say that Van has gone on the be last year's president of the Georgia Association of Realtors, while I have just faded away.
Anyway, we chose Barton & Ludwig, metro Atlanta's largest broker at the time. And the first thing I learned from my first broker was that certain things make a house less desirable in the eyes of buyers:
* any house that backs up to a railroad - the whistle will keep you awake all hours.
* any house that is in the "fall zone" of a cell tower or other tall antenna - who wants a big pole falling through the roof?
* any house that is located directly on an extremely busy street - how can you play kickball when you are constantly dodging cars?
* any house located near a sewer treatment plant - the odor is enough to curl your toes.
and of course:
* any house located near or (heaven forbid) under high voltage power lines. Not having any technical ability, I always assumed it was the "hum" of alternating current that caused the problem, but apparently I was wrong.
Forget the fact that you can stand under these lines holding a florescent light bulb and it will light up on it's own at night. (I'm not kidding.)
And forget the fact that I have personally witnessed homeowners transported into alien spacecraft near these poles. (Yes, I am kidding.) The proximity of these poles and lines to a house has now been shown to have no effect on prices.
By the way, you may be interested to know that this study was funded by Northeast Utilities, parent of Connecticut Power & Light, the utility proposing "significant expansion of the 345-kV transmission grid over the next decade."
I feel confident that buyers everywhere will rest easier now that they know they won't be concerned over these wires or their poles in the future.
Questions or comments?
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Upcoming Events
"EPA CERTIFIED RENOVATOR" TRAINING
Do You Work with Real Estate? You Must Be LEAD SAFE CERTIFIED as of April 22nd.
To all owners, realtors, investors, property managers, contractors, electricians, plumbers and painters. Do you ever engage in any level of renovation? If so, read this:
Any renovator, from owners to contractors, from plumbers to electricians to painters, who disturbs lead paint while working in a pre-1978 home, school or day care center, now must be Lead-Safe Certified. If you’re not, you can face tens of thousands of dollars in fines. Plus, you put the health of yourself, your workers and your customers at risk, which could result in lawsuits. One simple 8 hour class certifies you for five years. It’s that easy.
Since April 22, 2010, there are new Federal rules regarding how you perform any work that disturbs lead-based paint in homes, child-care facilities and schools built before 1978. You now must be EPA certified and follow specific work practices to prevent lead contamination.
Failure to follow the new rules can result in federal fines of up to $32,500 per day or up to 5 years in federal prison, or both. Don’t take a chance - it’s not worth it.
How To Become an EPA Certified Renovator:
In just one day, John Adams will teach you how to meet all EPA requirements and become an “EPA Certified Renovator.”
Don’t wait - register now! Click on “Seminars” and choose your day!
- Friday, July 30th at Suburban Plaza, 2643 North Decatur Road and Church Street, Decatur , Lower Level, beneath Hancock Fabrics
8:30 A.M. to 5:30 P.M.
- Friday, August 06th at Suburban Plaza, 2643 North Decatur Road and Church Street, Decatur , Lower Level, beneath Hancock Fabrics
8:30 A.M. to 5:30 P.M.
- Friday, August 13th at Suburban Plaza, 2643 North Decatur Road and Church Street, Decatur , Lower Level, beneath Hancock Fabrics
8:30 A.M. to 5:30 P.M.
- Friday, August 20th at Suburban Plaza, 2643 North Decatur Road
and Church Street, Decatur , Lower Level, beneath Hancock Fabrics
8:30 A.M. to 5:30 P.M.
- Friday, August 27th at Suburban Plaza, 2643 North Decatur Road
and Church Street, Decatur , Lower Level, beneath Hancock Fabrics
8:30 A.M. to 5:30 P.M.
Total Course Cost: $295, includes exam and EPA-HUD 400 page manual
Space is limited to 20 participants.
Training services provided by Seagull Environmental Management Co, Inc.
Courses are approved for purposed of certification under Section 402 of TSCA for the Certified Renovator.
This course has been approved by the Georgia Real Estate Commission for 7 hours of Real Estate Continuing Education
For more information, call toll-free 888-373-0029
Click above on the "Seminars" button to register
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John Adams Presents
“The MetroVestAtlanta.com REO Bus Tour”
Get on the bus for a tour of South DeKalb County’s “Real Estate Owned”
homes. Each house you visit will be available that day for purchase at
a giveaway price, regardless of current condition. Financing is
available!
Throughout the day, we will hear from mortgage providers, people in the
construction business and property managers all discussing today’s
situation with Bank Owned REO properties.
Who Should Attend: Investors, Realtors, Lenders, Prospective Buyers, and
anyone who might want to buy a super-bargain house and either do the
rehab themselves or have all the work performed by the pros.
You will see abandoned dumps and finished products, and everything
in between. And Snap will be there to answer all your questions and
explain the rehab and rental strategies.
Saturday, August 21st, 9:30 AM to 4:00 PM
Your $49 fee includes the bus tour and lunch. You must make reservations. No walk-ups.
There is limited seating and the seats are filling fast. ACT NOW before you miss the bus.
We will be meeting at Suburban Plaza, 2643 N. Decatur Road and Church Street, Lower Level, Decatur 30033 (beneath Hancock Fabrics, in the arcade.)
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