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Fanwood : Real Estate Advice

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  • Local Info1
  • Home Buying5
  • Home Selling0
  • Market Conditions0

Activity 10
Wed Aug 17, 2016
Montalvo.eddie asked:
Sun Oct 4, 2015
Debra (Debbie) Rose answered:
Yes, electrical towers negatively impact the sale of a home.
Homes in close proximity to high tension wires will definitely sell at a lower price point than homes not near them!

The amount of depreciation depends on just how close they are. The further away, the higher the sale price and the less of an impact.

Can you see them in the backyard ? Are the towers themselves visible or just the wires?
I would say if the wires are visible , but from a few blocks away, that's not such an issue.
It's when they (the towers) are in the back yard area or in clear site from the front that has the biggest negative impact on the sale price

I have had several listings over the years that were close to the wires - they eventually sold, but it took longer days on market, and they sold at very discounted numbers.
As far as buyers, I , personally, have never had one who would accept close proximity, even if the home offered more than other similarly priced homes away from the towers.

Ask a local agent to compare and contract sale prices for homes near the wires.

Good luck!!
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Tue Oct 22, 2013
Jose Nunes answered:
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Thu Apr 25, 2013
Nadia Brunetto answered:
Hi Mia,
It's a project being conducted by PSE&G to upgrade the power lines in Fanwood, Scotch Plains and elsewhere. The power lines have always been there. As with all power lines, they're more visible in some areas than others, and they just run on an easement through the towns. They are not all over the place.

Here's information about the upgraded:

PSE&G Reliablility Project
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Fri Sep 7, 2012
Scott Gleason answered:
The variables are great so you would do best to seek an answer customized to your circumstances.
Buyer's credit, proportion of down payment, property taxes, all make the cost of the mortgage swing by the hundreds of dollars. Here are some mortgage professionals who have pleased my family, friends and clients: ... more
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Sat Mar 31, 2012
Stephen Robert Sliwka answered:
Wait till the next tax cycle. Than appeal.
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Mon Mar 14, 2011
carolle donofrio answered:
Hi- You might want to consider Morris County.
There are many towns that have great schools,low crime etc. and should be an easy commute to future grandparents..
I don't know your price range but if you call or e-mail me I would be happy to send you some current listings.

Best of luck.Carolle
973-960-8002 cell
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Thu Aug 6, 2009
Marilyn Holda-Fleck answered:

I wasn't sure of your desired price range or other requirements for a home (e.g., # of bedrooms, etc),
so it's difficult to provide concrete examples. I do know of some houses (one in Scotch Plains and
one in Westfield are 2 examples) that you can rent now,
but the owner is indeed interested in selling, so some sort of arrangement can potentially be worked out.

But let's go back to the issue of a down payment -- indeed the pendulum has swung back in the
direction of lenders wanting larger down payments (many prefer 20%). However, there are
still lenders and programs that will consider applicants with less money down (if all your
other financials are in order -- e.g., good FICO score, good employement history, etc). For example,
FHA mortgages are being considered by many borrowers because of the lower down-payment
requirement -- as low as 3.5% down. This may be worth looking into to see if you qualify.
When you factor in the First-Time Homebuyer Credit, you may be able to make a purchase this year.

If you do not currently have an Agent, please contact me and we can discuss your options in more detail.

Marilyn Holda-Fleck
Prudential New Jersey Properties
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Mon Jun 8, 2009
Victor Kaminski answered:
Ask your agent to obtain a property disclosure from the seller, hopefully they were honest when filling it out, if not you can sue them later ;-)

Ask the agent to run comps for you, in front of you so that you don't over pay for the house and make an offer at what comparable homes are selling for, maybe slightly less if you can.

Ask the agent if they area aware of any external obsolescence factors that will affect the community or value in the future.

External obsolescence is a reduction in value caused by an undesirable factor outside the property. Locational obsolescence, external obsolescence, economic obsolescence, and environmental obsolescence are all types of external obsolescence. External obsolescence is generally not curable.

The following are examples of external obsolescence

• Construction of a landfill or industrial site next to a residential neighborhood will cause values to decrease (locational obsolescence).
• Construction of a government subsidized apartment complex next to a residential subdivision will cause values to decrease (locational obsolescence).
• An increase in interest rates will cause values to decrease (economic obsolescence).

External obsolescence is rarely (if ever) curable
A home inspection is the only way to be sure your not buying a lemon, add on a home warranty or better yet ask the seller to see if they will pay for one for the first year and protect your future asset.
(Definition Courtesy of
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