Homes selling again in perchlorate contaminated area

[Lenny Siegel <lsiegel@cpeo.org>]

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Property sales on rebound

By Megan Stevens
Gilroy Dispatch
August 4, 2004

SAN MARTIN - Property sales in the San Martin area are on the rise, 18 
months after perchlorate contamination brought the housing market to a 
standstill.

When the chemical was first discovered in the area's water supply in 
January 2003, market activity slowed significantly. Residents interested 
in selling waited to assess the situation.

"If people didn't need to sell, they took their houses off the market," 
real estate agent Patty Filice said. No single family home sold from 
Dec. 29, 2002 to Feb. 10, 2003 and the three houses listed between these 
dates did not sell until March 2003. Ten homes sold during the same time 
this year.

Even after the initial halt in market activity, housing prices were 
still a concern.

"They weren't necessarily dropping, but they were not rising," said 
Sylvia Hamilton, chair of the Perchlorate Community Advisory Group and 
president of the San Martin Neighborhood Alliance.

Although the market is leveling off now, housing sales in the Bay Area 
increased 20 percent from 2003 to 2004 broker Shanna Boigon said. The 
San Martin market reflects this trend.

"In general, if a property did not test positive for dangerous levels of 
perchlorate, it was able to sell." Filice said. "But if you have a 
contaminant, it is an issue and it has an effect on the property values."

…

for the entire article, see
http://gilroydispatch.com/news/newsview.asp?c=117923

--
Lenny Siegel
Director, Center for Public Environmental Oversight
c/o PSC, 278-A Hope St., Mountain View, CA 94041
Voice: 650/961-8918 or 650/969-1545
Fax: 650/961-8918
http://www.cpeo.org

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