High voltage transmission towers on property

[robert higgins]

Hey Hal,

I would have to say it depends on how far from the house they are. I did a couple in Stratford and they have those lines running down there. First one had the poles about 50 feet from the house and it did have an effect on value as I had 3 sales with in 2 streets and 3 sales 4 streets over. Other ones they only had a view of them and had little effect on value. Now I also did one up the line (mid state) on larger acreage and saw little to no value effect as the pole were far in the back of the property, but as like you had little market data, so I had to follow the line into different towns and look at historical data going back a couple years and pair up sales to get good data to support the data analyst.

 

[Mike Boyd]

Yeah, I am sure that having those big ugly power lines in the back yard has no effect on value at all.....it may not be easy to determine the correct amount of the adjustment, but to make no adjustment for this situation would be insane, at least any market areas with which I am familiar.

Why are you laughing? If you have market data to support diminution of value, then use it and make the respective adjustments. If there is NO market data to support it, WHY would you make an adjustment? Would you make an unsupported adjustment if your house backed up to a house where the owner smoked mackeral every day which he sold on a street corner after work to supplement his income? Now THAT you can laugh about!

 

[hal380]

Power lines

Hi Robert;

Approximately what percentage did you find where the towers and lines were outside the fall line but across the property and definitely highly visible?

I have already turned in my report, but am just curious, I figured about 20%, tax assessor in orange gave it 15%, but I felt he was too conservative.

Regards

Hal

 

[robert higgins]

I had one comp on the subject street and (2) two streets over so the it ended up being a 2-5% adjustment for the ones not on the subject street, these comps had good views of the powerlines. I can not remember what the comps sold that were away from the powerlines but I think it was 10% a 1/2 mile way. Based on what I remembered the farther away you got the high the % got. It all comes down to how many good comps you have.

 

[Darrel Clark]

Why are you laughing? If you have market data to support diminution of value, then use it and make the respective adjustments. If there is NO market data to support it, WHY would you make an adjustment? Would you make an unsupported adjustment if your house backed up to a house where the owner smoked mackeral every day which he sold on a street corner after work to supplement his income? Now THAT you can laugh about!

Mike, If you don't make an adjustment just because you don't have market data to support it, are you not saying that the subject and the comparable have similar market appeal for this factor? If the fact that market appeal is similar is not supported with market data, is it any different than making an unsupported adjustment? In other words, support what you do whether adjustment or no adjustment.

 

[Kristina Ledesma]

Aside from being ugly, I can't help wonder about health risks. As a kid I lost two friends to leukemia, both used to live within next to high tension power lines.

About 25+/- years ago Detroit Edison (local utility company) passed out a blue cutesy cartoon like booklet about Electro Magnetic Fields and you. Advising on the implied health risks of high EMF's. I still have it somewhere in a box around the house, they can't say they didn't warn us...

 

[JSmith43]

My Sonicare toothbrush charges via induction in it's base station. It may not be technically legal, but that upper bracket home owner could place an induction coil somewhat elevated on his property and power quite a few Christmas tree lights

 

[ZZGAMAZZ]

Does one not need to make a distinction concerning the location of the towers on the property, rather than adjacent to the property, regardless of the fall zone?

 

[CURT VAN HOOSER]

Mike, If you don't make an adjustment just because you don't have market data to support it, are you not saying that the subject and the comparable have similar market appeal for this factor? If the fact that market appeal is similar is not supported with market data, is it any different than making an unsupported adjustment? In other words, support what you do whether adjustment or no adjustment.

Come now on Darrel.... you have to support your adjustments. You can't play the "I think" card(....I think it's ugly and a possible health hazard and have adjusted it downward by 15% because that's what I might be willing to pay it...) Expand your time and distance criteria to find comparable properties which are similarly afflicted and compare them to properties not so afflicted, of the same time and distance. If there is an obvious difference in what the market is willing to pay (I believe there will be)..determine the percentage of that difference and apply it to your subject. At least you will have developed a logical rationale for your adjustment which you will then summarize in your report.

 

[timd354]

Why are you laughing? If you have market data to support diminution of value, then use it and make the respective adjustments. If there is NO market data to support it, WHY would you make an adjustment? Would you make an unsupported adjustment if your house backed up to a house where the owner smoked mackeral every day which he sold on a street corner after work to supplement his income? Now THAT you can laugh about!

I am laughing because I find it very laughable to think that there would be no market reaction to 4 high tension towers located across the rear of a residential property. The amount of the market reaction may be difficult to extract, but, at least, in the areas in which I work, to think that there would be no negative market reaction is beyond hilarious. Maybe there is some market where market participants would not actually care about the high tension towers and the corresponding easement across the property, but I high doubt it.

Are you telling me that a prospective buyer considering two otherwise essentially similar properties, would be willing to pay the same amount for a property with an easement containing high tension lines running across the property as the property without the high tension lines? puhleeze!!!