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Article #31

Re: Effect of power lines on home resale value

#31
From: Raymond Wu
Date: Tue, 11 Aug 1992 19:09
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Let me share with you our current house shopping - my wife and I found our perfect house in Chatham, NJ.  The price was a little steep but it was our perfect house - with one minor exception - yep, it had power lines way back there.  It looked like at least 900 feet - like three football fields away but the adjoining property had an easement for same.

Because the word is still out whether or not EMF is dangerous to your health, we decided not to make a ridiculous offer on the property.  It has been two months now, and that house is still on the market despite two price reductions.  Comparable homes within the same development have been going at/or very close to asking price and usually within one (1) week's time of the listing!

My point is unless you're planning on keeping this house forever, you'll have to deal with having "a minus" to compensate for in the price when it comes time for you to sell...

As far as the other poster who said that the electric company will fix
the leaky wires... ahem, how about in the meantime?  Do you want your family
to be subjected to the leaking EMF until they decide when (and if) the wires
should be replaced?

Yes, I'm sure there are people who either don't care about EMF, or worry
about the effects of living near the power lines, or are even aware of the
concerns of living near the lines - and to this group of people there are
going to be bargains out there as far as real estate is concerned.  They can
even use the controversy as a good hedge - I'm sure the people selling in
Chatham are willing to negotiate the price now.  All I can say is to each their
own...

Best of luck in your house search - we're going on our sixth month now...

-- 
============================================================================

	Raymond Wu
	Citibank                           Phone:   (212) 657-5426
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Message-ID: <1992Aug11.190927.2875@fig.citib.com>
Path: arc1-ca.pugleaf.net!sparky!uunet!psinntp!ibism!rwu
References: <1992Aug03.135115.18283@watson.ibm.com>

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Newsgroups: nj.general,misc.consumers.house
Path: arc1-ca.pugleaf.net!sparky!uunet!psinntp!ibism!rwu
From: rwu@fig.citib.com (Raymond Wu)
Subject: Re: Effect of power lines on home resale value
Message-ID: <1992Aug11.190927.2875@fig.citib.com>
Originator: rwu@osprey
Sender: news@fig.citib.com
Organization: Citibank IBISM
References:  <1992Aug03.135115.18283@watson.ibm.com>
Distribution: usa
Date: Tue, 11 Aug 1992 19:09:27 GMT
Lines: 27