In a seller's market, buyers are often apt to overlook site concerns: high tension wires, backing to commercial, next to interstates, on busy corners, on the railroad tracks - etc etc etc.

In a buyer's market, location more than ever becomes key. I like the answer here that said compare how much cheaper than non-affected like-kind homes was the house when it was purchased originally, and take that same percentage of site-affected discount and apply it to today's reduced values...and then it might be 3-6% more off that due to shift in supply and demand.

Here's the key: locational issues rarely change-that's why it's key to do research prior to buying.

You may get lucky and they'll turn the old railroad track into a bike path...you may get unlucky and that rolling farm field turns into a Walmart. But for the most part, no matter where you are in the country - the discount you got for buying a property with site negatives has to be transferred on down the road when it's time for you to sell.

I've always told my builders (and buyers): Often, the most expensive thing you can do is buy a cheap lot.

Power lines specifically: you can, as was mentioned here, get the local power company to come out and give you EMF readings to have to try to overcome some buyer's concerns about the link between excess EMFs and some kinds of cancer (particularly certain kinds of childhood leukemia). There is data all over the internet coming down on both sides of the issue. The EMF reading may help alleviate some fears, but it will not negate asthetic concerns (or as noted, noise issues, especially when humid.)

I've had good luck in the past with employees of the power companies buying properties with the wires/towers behind them: they feel there's no need for concern, and appreciate both the extra space they can use (tax free) behind their homes and the discounted price these homes often sell for.

the 2007 value is not any value today.

certain people will have nothing to do with power lines for fear of EMF (electromagnetic fields). you can have the filed measured but that is about all you'll get...a reading. the issue of what is harmful or not is unsettled and in fact several courts have called the claims for diminished value "baseless". here in san diego we had a well publicized case where the word was used.

other folks simply do not care about them...the bottom line is that the appraiser will likely not treat them as a health hazard but might have some value adjustments for the open space adjacent or perhaps a very tall wall or fence.

I'd call Jodi as it seems she has this well in hand!

Hank

Our appraisal came in slightly above our asking price...with the power lines, retaining pond and LP siding...which is about $25k less than the other homes in the neighborhood...but we knew that going in and priced it accordingly. Like I said in the email, you just have to price it right and be flexible when you receive that offer.

Jodi Smith
Atlanta Real Estate Agent
Keller Williams Realty Consultants – Roswell, Georgia
678-763-6025
jodismith@kw.com
Tweet Me: http://twitter.com/JodiRSmith

It's going to have an impact from an appraisal standpoint so you might as well get there first - doesn't matter if Godzilla's kid buys it, unless it's cash a lender's getting an appraisal.

The public perception is what matters and most buyers assume health issues. There's no doubt that they are a visual issue and during wind they howl, when wet they pop. Given the saturated market already, I think it's safe to say you should expect issues. You can count on an appraiser including it in the report as appraisers are under a tremendous microscope with many veteran ones leaving the biz. Bring in rookies, reduced fees, lack of experience and major micromanagement......count on issues.

Hank

I am closing on my listing in Marietta next week. It was not only right next to power lines, but next to a retention pond and the house has LP siding. They priced it right and they were motivated when they received an offer. They wanted to sell. I agree with Michael, curb appeal, inside and outside maintenance and pricing it competitively is how your home is going to SELL!

Good Luck!

Jodi Smith
Atlanta Real Estate Agent
Keller Williams Realty Consultants – Roswell, Georgia
678-763-6025
jodismith@kw.com
Tweet Me: http://twitter.com/JodiRSmith

What impression did the powerlines make on you when you purchased in 2007?

Hi Wayne,

Well you know my answer as we've spoken; but I figured I'd say hi since I saw your post on here. Power lines are definitely a negative attribute about the home and the only way to compensate for it is price. Exactly how much compensation will it take to lure the buyers from the many other homes that don't have power lines is the wild card. You should try for the best case scenario but be prepared to listen to the market if you get consistent feedback about the powerlines, you will need to translate that as a metaphor for "reduce the price" as opposed to fooling yourself into thinking that eventually you will find someone at the current price.

This is a tough one to answer because it is very subjective. Since this issue has been present for the entire life of the house, you should be able to see impact on price by comparing this home's previous sales prices to those of comparable homes in the same neighborhood.

Power lines definitely have an impact but some people don't mind. I have represented buyers who did not care (older people without children) and even have a house for sale now that borders an easement with these lines. Having the tower nearby probably has a more negative impact than the wires. Drive by most public school athletic fields and about 50% of them will have high tension lines over them. If they were a health hazard, I doubt they'd be put over schools.

Back to your question: If the home has been sold at a discount over it's history, you can measure the impact fairly easily. Keep in mind that this will always be an issue with the house. Some buyers will see the ines and not even go in while others will take it into consideration if it's priced right.

Please feel free to contact me if I can be of more assistance.

Barry Wolfert, Associate Broker
RE/MAX Communities
Marietta, GA
770-656-7551
bwolfert@mac.com

If the potential buyers are all paranoid about stray ions, probably a lot. Otherwise, not so much, particularly if the house is priced right, maintained and has great curb appeal. Were I your Realtor, I would be a lot more concerned about where the comps are priced in your neighborhood and if you were deadly serious about selling and not simply listing. Good Luck!

Waynes - Any home that was purchased new in 2007 will have a hard time just breaking even right now, and the power lines next to the side is a complete wild card. Are there any comparable sales with power lines that you have found? I don't think there is a hard and fast rule (or even a general rule) regarding the financial effects of power lines in the yard; but buyers are so picky right now they are very likely to pass your house by in favor of any of the other thousands of homes currently on the market. Would it be possible for you to keep the house and rent it? You would be better off NOT selling it right now if there's any way to avoid it. Sorry for the grim answer! -Mitch Falkin, RE/MAX Greater Atlanta (770) 330-2374