According to BBC News, a major UK study recently found that

..."In the trial, many of those who blame masts for their symptoms reported greater distress when they thought the signal was on, suggesting the problem has a psychological basis."

..."However, the Environmental Health Perspectives study stressed people were nonetheless suffering "real symptoms".

Concern about the possible health risks of cell phone towers is so wide-spread that the American Cancer Society had dedicated a web page to the subject.

Whether the health risks of cell phone towers are real, or not, fact is, quite a few people are concerned, and given the choice of two similar properties, one right by a cell phone tower and one not, many would rather play it safe and choose the location without a cell phone tower. I have had buyers who were in the market for a condo in an area where there aren't many condo developments. The neighborhood with the best selection of condos was on a hill, right next to a cell phone tower. My clients asked me if I was aware of any health risks, and I told them that while I personally am not aware of any risks, they should research the topic on their own. They let me know a few days later that they'd rather not purchase near a cell phone tower.

Any health concerns aside, cell phone towers, radio towers, or even water towers are not particularly attractive features in a neighborhood of homes, and as such tend to devalue the properties immediately nearby. I'd like to hear the opinions of appraisers and find out if they have a value formula for the presence such structures.

On the other end of the spectrum, I've had buyers who were very interested in a particular home, but when they realized that this neighborhood had no cell phone coverage, they passed on it. With the spread of cell phone towers there are fewer and fewer dead spots in cell phone coverage. I direct my buyers to this site to check where the the dead spots are.

Sandy Nelson
Realtor for Olympia Area Real Estate
www.sandynelsonrealestate.com