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imgI drove by a computer store recently and noticed that it was surrounded by a cluster of electric towers. It reminded me of a drive-by BPO I did a few months ago wherein a home was directly backing into a lot with several power towers. In fact, you would think the neighborhood had been designated as the “chosen one,” as the electric towers were laid out in an intermittent pattern throughout.

The health aspect of power lines is an inevitable issue in buying a home, especially if the property is near a “drop zone.” Whether there is sufficient evidence to support contentions of health risks associated with living near electric towers is not the point here. Rather, it is consumer perception that will always prevail, and if a buyer entertains such health concerns, he will have second thoughts about buying a home that is adjacent to power lines.

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The “eyesore” factor and the extent to which it comes into play will depend on how attractive the other features are. Some buyers may be willing to overlook the power lines near the home he is buying if he sees more important benefits such as good schools, quality construction, unique features, or even great neighbors. It is a trade-off exercise dictated by buyer preferences.

Lastly, how difficult is it to re-sell a house near electric towers? Well, the owner/seller knows exactly what issues will be encountered by potential buyers, having been a buyer himself. Health.Cosmetic. Additional concerns such as valueand length of marketing time will have to be taken into consideration, and sellers should be prepared. Expect that there will be buyers who will pass on this house for concerns stated above, and it may stay on the market for a longer period of time, consequently putting a downward pressure on the price.

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A short sale is a long process. Does that sound contradictory? Not really. “Short” refers to a sale where the amount owed is less than the value of the home – hence, the sale proceeds are “short” to cover the mortgage. “Long” refers to the length of time involved in getting the short sale approved by the lender...

   
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