From time to time when inspecting properties in and around Philadelphia, we come across homes that have less than desirable locations due to external influences. External influences are conditions locate on or beyond the premises of the subject property that may have an adverse (or positive) affect on the value or marketability of the home. An example of a positive influence is a property located on a golf course or on the beach. But the focus of this post will be negative external influences and hazards.
FHA realizes that these conditions exist. When an FHA Appraiser notes a Hazard and/or Nuisance at a property, they must “indicate whether the dwelling or related property improvements is located within the easement serving a high-voltage transmission line, radio/TV transmission tower, cell phone tower, microwave relay dish or tower, or satellite dish (radio, TV, cable, etc)”
Other external influences that are considered to be Hazards & Nuisances by FHA are:
- Railroad tracks and other high noise sources
- Flood zones
- Lead based paint
- Overhead high voltage transmission towers and lines
- Operating and abandoned oil and gas well, tanks and pressure lines
- Water towers
- Insulation materials
- Lava zones
- Avalanche hazards
Here are some pictures of Hazards & Nuisances that Coyle Group appraisers have taken over the years. If you ever have any question as to whether or not your property affected by a negative external influence, please feel free to call our office.