Does a power transformer in front of one's house result in a 10% devaluation?

Today's San Diego Union-Tribune had an interesting story about real estate.

The City of San Diego and San Diego Gas & Electric Company have been very aggressive in moving overhead utility lines underground. Most people and neighborhoods are only too happy when undergrounding happens because their views are cleared up with the removal of the poles and wires, and there are a lot of properties with views in San Diego County.

The removal of poles, though, means that the power transformers have to be moved to the ground as well. This is what a power transformer looks like:

I'll be the first to admit that they are not the most beautiful things on the ground, but most people just plant some flowers and bushes around it. They are usually placed in the middle of the communities they served. There are literally thousands of these transformers throughout San Diego County, and many more hundreds being installed each year as the undergrounding program continues.

The story states that one owner who was having a transformer installed in front of his house, although on city land between the street and the sidewalk, said that his real estate agent told him that the value of his property "will go down 10 percent." I've never seen an item on an appraisal stating that the property value was reduced 10% because of a transformer.

I'm seriously hoping that a real estate agent would not tell him that, but you never know. Maybe I'm behind on what factors appraisers take into consideration under all these new rules and regulations. What would the appraiser say about a fire hydrant in front of the property? They aren't exactly beautiful either.

One other comment is that since their property is not listed for sale, and public records indicate that they bought it in September 2002, I have to congratulate their real estate agent for maintaining a relationship with the couple for almost eight years. Somehow, though, I suspect that there is more to this story.

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If you're looking for a great real estate agent in San Diego, well,
let me Google one for you.

I'm available 24/7, so feel free to contact me by phone or email.

Jim Frimmer, Realtor
Century 21 Award Mission Valley
California DRE License #01458572
619-729-5701
jimfrimmer@century21award.com
Mission Valley Condos Information

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