RISMedia's Real Estate Magazine

NOV 2018

Real Estate magazine is the industry's leading source for real estate news and information since 1980. Published monthly by RISMedia, Real Estate magazine offers timely and relevant real estate news to the industry's top brokers and agents.

Issue link: http://remag.rismedia.com/i/1042091

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Page 31 of 142

negative impacts ranging from 50 percent of the easement land value to 30 percent of the entire property value. What can impact a home's valuation? According to the report, there are several stigma factors, such as potential damage to irriga - tion systems and wells, damage due to crop loss, soil compaction, stray voltage, and more. Properties constructed near one of the larger transmission lines that feeds the gas distribution network may have more trouble selling than homes that are merely hooked up to an extended network of natural gas distribution pipes. Could there be additional causes for concern above those listed by the Forensic Apprais - al Group? Gas pipeline easements, depending on local laws, may af - fect the use of a property; residents may not be able to build permanent structures or plant trees directly over easements. Additionally, if the gas company needs to repair the pipe - line, they would most likely have the right to dig up the homeowner's yard. How can consumers stay well-in - formed during the home-buying pro- cess? They may have to do their own due diligence. "If [a gas company] has an ease - ment granting it access to the prop- erty to work on a gas line, that usu- ally is noted on the title filed with the house," said Tom Pool, a spokesman with the California Department of Real Estate, in a local news inter - view for SFGate. "In addition, sellers of homes are required to notify the buyer of all material facts that af - fect the value of the property, which might include a nearby pipeline." However, Pool said if the seller hasn't been told of the pipeline's existence, they can't be held accountable if they fail to inform the buyer. Agent Strategies for Facing This Market Challenge A little research can help turn these concerns into actionable strategies for agents. Ask questions on behalf of your sellers and buyers if informa - tion isn't readily available, such as: • Is the property near a main gas pipeline, and is there an ease - ment attached to the home? • Has the neighborhood been in - spected and audited recently for care and quality? Corroded pipes can lead to gas leaks. • Are there any natural gas-related sources that can be provided to the consumer to educate them and directly address concerns? Lock down scripts that will help sellers and buyers feel at ease about the transaction. Being hon - est and open about the situation will ensure that they're prepared for all scenarios. RE Liz Dominguez is RISMedia's associate content editor. Email her your real estate news ideas at ldominguez@rismedia.com. HELP YOUR AGENTS BUILD THEIR BUSINESSES WITH THE ONLINE www.store.realtor GET 20% OFF to receive 20% off your next purchase! USE DISCOUNT CODE SHOPRIS From sales and marketing to legal resources, research and more, the REALTOR ® STORE has you and your agents covered! National Association of REALTORS® NAR

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