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Jennifer, Home Buyer in Hamilton, NJ

i found a great house right accross the street from 2 Electrical towers. Is this dangerous?

Asked by Jennifer, Hamilton, NJ Wed Oct 7, 2009

? Would i be able to resell my home in the future or should i stay away from this?thanks Jenn

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8
Hi Jennifer,

The debate on the dangers associated with high-tension wires is ongoing. It depends upon with whom you speak. Only your own research on the matter can determine your position. If you determine that you would consider a property near tension wires, determine what discount is appropriate for you in order to offset the negative impact of the location.

Absolutely, the same model house in a development will carry different values depending upon the location. Busy intersections, smaller lots, privacy levels, and high-tension wires are all features, which affect buyers and the amount, which they are wiling to pay. (This is a reason that online estimates of value are often incorrect. This type of data is nearly impossible to factor in an algorithm.)

If you proceed with a purchase of a property near high tension wires, you have the opportunity to gain price and terms advantage at the time of the purchase. Some day, when you become a seller, you must be prepared for a long selling cycle, and be willing to accept less than your neighbors will command for their similar properties. Whatever new information and studies about EMF unfold in the future may affect the marketability of your property in future, and that pendulum could swing in your favor or against it.

Best,
Deborah Madey - NJ Broker
Peninsula Realty Group
0 votes Thank Flag Link Sun Oct 11, 2009
Deborah Madey, Real Estate Pro in Red Bank, NJ
MVP'08
Contact
Hi Jennifer,
I have been an investor in real estate for many years as well as an agent for a family owned business. The debate over EMF(Electromagnetic Field) has been going on for several years and it depends who you talk to for an answer.

The real issue is long term return on investment or resale. Most families with children will not want to live near a home with 2 electrical towers because of the possibility of heath issues in the development of their children. I have sold a property in the Hamilton area which was near two electrical towers and I can tell you many buyers walked away as soon as they saw the electrical towers.

My adivise is stay away from those locations. Look for a good location, work with an experienced Realtor who can negotiate the best terms, and take advantage of investing in real estate like I have. Remember Location, Location, Location is your best advise. E-mail me at Wayne_Zelenak@yahoo.com, or call my office at 609-73-1500, ext 262.
Web Reference: http://www.WayneZelenak.com
0 votes Thank Flag Link Sat Oct 10, 2009
The safety of towers (cell, electrical, etc) has been debated for sometime and can be controversial - some say there is no proven concern while others say they should be avoided. Go online and do your research to see which side you feel most comfortable with. This same controversy could come into play when you decide to sell because of the buyer's concerns.

There is a lot of available housing inventory out there so you might be able to find another great house without towers to worry about.

Gloria Laughton Allston, REALTOR, GREEN, SRES
Coldwell Banker Residential Brokerage
http://www.CentralNJhomes4U.com
0 votes Thank Flag Link Wed Oct 7, 2009
Have your agent pull comps from similiar neighborhoods with towers and compare the sales price, land tax value and overal data impact from lots with towers and lots without.
0 votes Thank Flag Link Wed Oct 7, 2009
Hi Jennifer, You should do your own research on the potential risk and your comfort with what you learn. What I can tell you as a real estate agent is that "yes" it will impact your ability to sell in the future in two ways: it will decrease the price and increase the time to sell. But I suspect that you are finding that it is doing this very thing to its marketability now - and that you are at least in part attracted by its price relative to the amount of house for the money.

Do your research and then make your decision. There is a buyer for every home and that will always be true. But expect the proximity of the towers to affect both time to sell and price you fetch.

Good luck to you!
Jeannie Feenick
"Unwavering Commitment to Service"
Search the MLS at http://www.feenick.com
Web Reference: http://www.feenick.com
0 votes Thank Flag Link Wed Oct 7, 2009
Hello Jenn,
I've worked in several very different markets and in my experience, towers have been a negative. I agree that the jury's out regarding potential health issues from towers but it is perception.
Do you know how long this house has been on the market and how it compares to its competition with price? You might get a nice deal now, but you may be in a tough selling position down the road.

Theresa Brown
Michael Saunders & Company
Cell: 941-350-5005
theresabrown@michaelsaunders.com
0 votes Thank Flag Link Wed Oct 7, 2009
The danger factor is up for debate. Some people say yes some no. From a resale point, homes with "power towers" definitly have a harder time selling as I would estimate approximately 80% of buyers won't even look. Not that homes next to towers don't sell but the same home not near towers will sell at a higher price. I would say 10-15% more.

Good luck with your home search.

Denise Gueterman Broker/Salesperson Weichert Realtors 142 Main St. Chester, NJ 07930
908-303-2472 Mobile denisegueterman@hotmail.com EMAIL
0 votes Thank Flag Link Wed Oct 7, 2009
Hi Jenn
This is a personal question, and only you can answer what is right for you................My town has several areas that have higfh tension wires and towers. Homes near them are bought and sold all the time. Years ago the town brought in experts , and much was investigated, town meetings held, etc.. The general concensus was that there is no "danger" by living in the vicinity of the towers or wires.
Let me state that I am not an expert, and I am only repeating what was said by others.. I suggest you look into this yourself - using google, I am sure you can have your basic questions answered. Speak to your agent, and see what the success rate has been seliing homes in similar locations, and whether there is any information available for you to read on the subject.

That being said, I have found it more difficult to sell listings very close to the towers - it goes to the buyer's perception. Usually those homes are sold for less than similar homes in other locations....as a result, you might get a great deal on this home, so that is the good news. The sale price will (always) reflect the location, whether it's this home or another one.
The decision is up to you.

Best wishes.........
Debbie Rose
Prudential NJ Properties
0 votes Thank Flag Link Wed Oct 7, 2009
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