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Monday, July 19th, 1999 @ 2:52 AM |
Subj: Here are my thoughts and responses.... From: [email protected] (Robert Aldana) After conducting a survey of my own with hundreds of real estate professionals of many different companies and both buyers and sellers of properties regarding the effect of the proposed Calpine project, I have come to the following conclusion and opinion: For many years, it has been believed, NOT proven to my knowledge, that people near power plants have been victims to side effects such as Cancer, Birth Defects and others. To date, I am unaware if any studies exist that WOULD prove there to be any side affects. Many officials after reviewing these reports claim that there are no side effects and issues and that in fact may be true. However, it has been my experience as a full time real estate professional who has delt with hundreds of buyers throughout the years that properties near a power plant, power towers, power lines, etc. have in fact been affected in regards to the disirability of those properties. I also feel that a stigma does in fact exist about these properties and in my experience when showing a property of this nature to a potential buyer almost all of the buyers have said they did not want to even go inside the home. Does this affect the value of properties close to powere plants? My personal and professional opinion is yes. To what extent I do not know. It would depend on where exactly the power plant was, how large it was and it's proximity to residential property. Also, if I was a homebuyer I would myself not want to buy a property in the immediate neighborhood of a power plant. If I found out that a power plant was going to be built in my neighborhood, I would be the first in line protesting such a building because I personally care about my property value and also do not find such buildings as an attractive addition to my neighborhood. Please keep in mind that this is strictly my opinion as a homeowner and a real estate professional. I have no proof other than my personal experience as a real estate professional for many years working with homebuyers. I also as I said earlier have no proof of any adverse conditions that have resulted from living near a power plant, etc. Also, it seems that the farther away the property is, the less negative effect it suffers. Another factor will be what the structure looks like and how big it will be and will it be an eyesore? If it doesn't change any of the scenery in the neighborhood, the negative effect would probably be minimal. But even if there is a minimal appearance or no appearance, there will still always be a mental psyche that potential buyers will have when it is disclosed to them that a power plant exisits near their neighborhood. How much is uncertain but what is certain is that some - regardless of how small - negative stigma will exist. When you asked my opinion, I hope that you can understand that I answered exactly how I felt about this issue and I am not taking sides one way or the other. I am answering your question to the BEST of my knowledge and opinion. Also, having a network of hundreds of buyers, sellers and agents, I have polled these sources and the results should be a pretty good indication of what the public feels about this issue. Please excuse any misspelled words as they were cut and pasted directly from their email responses. To be fair, I am adding ALL "for and against" replies and opinions that were sent back to this survey. ******** When consumer were asked whether their decision to buy a home be affected if it were near a power plant they said the following: "I wont like high voltage power lines passing thru my neighborhood. Also it has ill-effect on childrens health, because of the the intense magnetic and electrical fields these HV line generates. So my vote is big 'NO'." "Yes it will reduce my willing to buy the house." "It depends on what it looks and sounds like, and what risks might be associated (fire, health, etc). I suppose if I have a choice between near a power plant or not, if there even a suspicion if nuisance or risk, I would prefer not to buy there. However, if the risks can be minimized and there were offsetting benefits such as more open space, less traffic or neighbor noise, etc, then perhaps it could be considered a selling point. Personally, I would want third party information to validate whatever "spin" was being presented." "I would not buy a house, no matter how good a bargain, near a power plant." "Hi Robert, "Yes it'd greatly affect my decision/desirability to purchase a home in the neighborhood where there's a power plant nearby. And by the way, thanks for keeping me updated with all the home buyer's information." "Yes it would affect our decision. We would not purchase a home in this area." "It would absolutely have an effect on our decision to live in a certain area. With all the uncertainties with power plants, living near one would not be a risk we would be willing to take if we had a choice. In our minds, the site of one would take away from the idea that we were living in a residential area. No, we would not want one near our home." "As a homeowner, I would not be that affected by a nearby power plant. I understand that they are necessary, and they have to go somewhere. I would be more affected if the area I was looking to move to was not able to supply the power needs of the community. All this is taking into consideration that the one they are planning to build is a "clean" power plant, as opposed to a coal burning or nuclear plant." "If it is as ugly as some of them yes, it will greatly effect the property value. I would recommend that public hearings prior to approval by governing bodies, yes, city, county as well as the feds. If the thing is treated as alovely thing fine. My concern here is that are you talking about a neuclear plant or a substation type thing. If power is being generated how?? Drive by the one I think it is at either Tully & white, or somewhere out there. the darn thing is purely ugly. I really don't think they have to be. The literature shows no scientific effect from what I think you are talking about. It is public perception of problems." "Thank you for the opportunity to provide input. As a homebuyer, I would be greatly concerned about purchasing or selling a home with a power plant near my home. I recall a segment on 20/20 providing research results showing the affects it has on children and even appliances working in the home. Even putting that element aside, it's also a bad idea esthetically. I would not like it if it was an area that I wanted to buy into or currently owned property in that neighborhood." "hi robert, i think it would greatly affect the value of the property, and i would never live in an area that had the power plant that close to my own home." "Hi Robert, "This would not be desirable. I would not buy a home in an area like this." "If I were looking for a home and found out that a power plant was going to be built in a neighborhood, I would definitely NOT buy a home there. It would certainly affect the desirability of all the homes in that area to me. Also, if I lived in that neighborhood, I would do everything I could to get the building of that plant stopped. If the plant was going to be built no matter what, I would move as soon as I could." "Hi Robert, "Robert, "It would affect my decision. I would not want it so close to my residence. It would reduct the property value as far as I am concerned." "It would bother me being that close to a power plant." "Yes, I know it would affect me as a homebuyer from buying a house so close to a power plant. Kids now a days are very curious and to have something like that so close would be very risky and asking for danger." "As a buyer, this would most definitely affect the desireablility." "I don't consider it at all unless the house price already reflect it. That means the house price should be lower than that without power line." "Robert, "Hi Robert, for me personally, I would not like to be near with any power plant. I believe it also affect the property value - it makes the property value lower. Do you know that electromagnetic field can cause cancer? Althought some researcher claim this is not true, I still believe it is dangerous and still affect people health." "Robert, To my opnion, I would rather not to buy a house with the Power Plant close by. Not noly to say that may effect the value of the property, destroy the nature view of the neighborhood, but also have the potential danger for the children and teens. I donot understand why a power plant has to be built in the residential area." **************** When real estate agents were asked if they have noticed a negative effect both in value and public perception when they have shown this type of property and also how they personally would feel if they were buying, they answered the following: "IN RESPONSE TO YOUR QUESTION, I DEFINATELY KNOW THAT A PROPERTY BY OR AROUND A POWER PLANT BEING BUILT BY OR AROUND HOMES IS A NEGATIVE AND I DO BELIEVE IT DOES AFFECT THE PROPERTYS' DESIRABILTY. I HAVE EXPERIENCED IT HERE IN CAMBRIAN, THEIR ARE SOME LARGE POWER TOWERS AND PEOPLE THINK THEY EMIT SOME SORT OF RADIATION OR SOMETHING, THE OWNERS CLAIM THEY DON'T DO ANYTHING AND HAVE RECEIVED REPORTS FROM P.G. E. THE NEW HOMEBUYERS COMING INTO THIS AREA SOMETIMES QUESTION THIS CONCERN. IT IS A NICE AREA AND SOMETIMES IT IS OVERLOOKED. ALSO, DEPENDING ON THE LOCATION OF THE PROPERTY AND HOW IT IS SITUATED AMONGST THE POWER TOWERS MAKES A DIFFERENCE." "i don't think there is any danger-------how it would affect property values would depend upon how the plant was seen by the neighborhood ie: if it was hidden by a hill etc. it would lesson its impact.....we need more power plants or we'll have brown outs....the question is: is this a min. impact site......" "Robert, "yes it adversely effects property value and desirability of the home." "Yes I seriously think it would and does affect property values. I would not purchase there myself and would steer clients away from the area." "Hi Robert: "Hi Robert - It would not bother me at all - Dr. Dean Adelle of radio fame tells us that test after test show that there are no ill effects from living near such installations. However... it will effect the value of the properties in the neighborhood since some buyers will have fears anyway, and more will have fears about values when *they* go to sell. It's sad. Good luck." "I just sold my first home to a young couple who had specifically requested staying away from high powered lines. There is no way they would have considered a home any where near power plant. This proposed power plant will defenatly affect the value of homes in the area as well as the health of those home owners." "Yes, I do believe that power plants have an affect on the desirability of a home or neighborhood. I also, believe that it has a negative effect on the value of a home. I personally would not purchase a home in close proximity of a power plant or main power lines. I generally do not show homes that are close to power lines at the request of my clients, who say they do not want to live in such an area. Buyers almost always have an opinion on the subject when I first meet them." "Next door or a few blocks may YES. 1/2 a mile from homes and 1-3 miles from any school does not even approach being a significant problem. We live in a mature, fully developed area. It is next to impossible to buy an AVERAGE property secluded enough to be Half a mile to three miles from some sort of undesirable element( i.e. Freeway, noise, commercial facility, airport, etc.). People do not live in Silicon Valley because its lovely, they live here to be near their jobs. Given some alternatives and sufficient resources any Buyer will find an optimum location in a less developed environment ( I.e. Saratoga, Los Altos Hills, Woodside or Atherton). With Bay Area's high housing demand, an electrical service station, half a mile away, poses no significant impact to its value. Draw a three mile radius around San Jose International Airport and you'll find thousands of happy homeowners and price appreciation comparable to adjacent and more distant similar neighborhoods." "Hi Robert, Yes I have had clients very concerned. Even the one in Los Altos was a concern and really depressed that area- mostly within a 1/2 block distance. I would safely say that within a block it was an issue. I hope this helps." "yes, this is a negative" "I would not want to live within a mile of a sub station power plant, nor would I want my son to attend a school that is just a little over a mile away from one. The effects of electromagnetic waves is up for scientific debate and I for one do not want to be another statistic. I believe that my buyers feel the same way. They do tend to shy away from the homes that are close to large power sources. I do believe that the presence of such a station would effect the value of the immediate neighborhood." "Robert, "Yes, it would affect value. Partially depends on if power lines can be seen and if they will be above or below ground. Are there visual proposed plans created for people to review the situation? Personally, a power plant would not bother me -- but that depends on if I have to look at it every day and if the lines are visible. I don't think there's a major problem with power plants and health, but there are people who do. As a RE pro, the same types of questions apply. Also, as an appraiser the same types of questions apply." "Robert, "I currently have a home listed on Park Manor, and the high voltage lines behind it have brought comments - no one is sure of what they MAY do or cause, but the lines are a definite drawback!" "Ahhh, the Calpine power project on Santa Teresa .... "DEAR ROBERT, "Robert: "I say: "I think it would depend on how much showed. Tall towers? I'm not sure I get too excited about the electricity part of it but the visual does affect me and would have a detrimental effect on clients. I do also think there are clients who would NOT like the electricity part of it either. I am an agent." "Yes, in my opinion, it would affect the value of property." "Hello Robert! "I think this will heavily impact the neighborhood. I am aware that PG&E has literature and does studies on the effect of these type of plants regarding specific homes, however, I know from my clients that the perception of a plant is very negative and often times they would not want to purchase a home at any price near one of these sights." "Robert, "Robert, "I'll respond to you as a consumer and not as an agent. I would definitely NOT want a home near a power plant and I'm sure that it will affect the desirability and price of those homes. Besides, it is not aesthetically pleasing for the neighborhood." "It depends. If the person will be buying and living there for the rest of their life (retired persons, etc.) or if they will be moving in 5-7 years as is common, or if they are investors. Personally I would buy the property because you can usually get a pretty good deal on a home near these sites or towers. Further, Silicon Valley, with the housing shortage or limited inventory situation, will always have people willing to buy as long as they can just get a home." **************** Thank You for your interest and for watching and listening to my show. Please feel free to call me or email if you have any further questions regarding this or any other real estate matter. Have a Super Day! Cordially, Robert Aldana http://www.letstalkrealestate.com DON'T FORGET TO: Listen to us "Live", Sunday nights from 10pm - midnight on 96.1 FM, KSQQ, San Jose/San Francisco Watch our TV Show, Mon. at 10pm, Wed. at 9pm and Thurs. at 6:30pm on channel 15A - TCI, San Jose, Campbell, Cupertino. |
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