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House for sale near the power cord Sreenivasan

14 September 2009 1,292 views No Comment

The sale of more than 100 homes in Tsawwassen, B.C, bought by BC Hydro after residents objected to overhead power lines, could be a boon for buyers.

The Crown corporation purchased 105 homes in the area this year as part of a voluntary buyout program offered to residents who didn’t want to live with the high-voltage overhead power lines running through their yards.

Homeowners had protested and fought the controversial power lines for years, citing evidence they cause cancer and demanding that the province bury them underground.

Earlier this year, BC Hydro extended an offer to the unhappy homeowners, giving them the opportunity to sell their homes.

The first 20 of those properties were made available to the public Saturday.

Potential buyers Richard and Rosebell Schnoor are hoping the controversy will work in their favour.

On Saturday, the couple was shown a home listed at $70,000 below the average home in the neighbourhood, and they’re hoping to get it for even less.

“I think with all the negativity around these properties, Hydro might be willing to deal on these properties,” Richard Schnoor said.

Jake Moldowan, a real estate agent with ReMax, said despite the controversy, there is no shortage of buyers.

“We have experienced great interest in the homes. So far today, more than 300 people have come to look at them.”

Despite the proximity to the power lines, many people touring the properties said they would think about buying.

“I think everyone will see once the first couple … houses are being sold, then they’ll know what was the selling price and how much wiggle room there really is,” Shannon Hilde said.

BC Hydro says it paid $62 million to purchase all the homes, and sales will be staggered to avoid flooding the market.

“We’re doing our best to sell the houses at market price and to recover as much of that cost on behalf of BC Hydro’s ratepayers as we possibly can,” said spokesperson Dag Sharman.

But if price reductions are necessary to offload the properties, Sharman said, that could end up costing taxpayers.

source from:www.cbc.ca

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