Properties Devalued by Overhead Power Lines

In follow up to RETA’s earlier blog on property devaluation in relation to the proposed Northern Pass Project in New Hampshire, the New Hampshire Union Leader cites additional examples.

Peter Powell, who has more than 40 years experience selling real estate in New Hampshire’s North Country, suggests that property value reduction estimates of 50% may be a bit conservative.  Another local realtor and realty company owner, Andrew Smith, says prospective buyers in the North Country consistently ask, “Is this property going to see (the) Northern Pass (power line)?” Smith gave an example of a property that should be worth $400,000 in a normal market, but received an offer of only $190,000 along with a note from the prospective buyer explaining the low offer was because of the Northern Pass line. Smith has also said, “It is my opinion that this negative impact will continue until the proposal is either withdrawn, plans are made to bury the lines or some other yet to be determined option is presented.”

As interesting as the article itself in the New Hampshire Union Leader are the comments by readers, who present strong and well-founded arguments against an overhead Northern Pass line. Several of the comments suggest that, if the line is necessary, it must be buried. (See this link for more information on the benefits of burying high voltage power lines. It’s impossible for power companies and governments to ignore the growing number of demands for electricity transmission and distribution lines to be buried.)

~ by RETA on November 5, 2012.

 
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