Environmental
What is 'electromagnetic field' (EMF) stigma in real estate and how do Illinois agents address it?
AA legally required disclosure in all Illinois real estate transactions
BA potential reduction in property value or marketability due to perceived health concerns from proximity to high-voltage power lines or substations, addressed through disclosure and market research✓ Correct
CA required test for all homes within 500 feet of power lines in Illinois
DAn environmental hazard with documented health effects requiring remediation
Explanation
EMF stigma refers to the negative impact on property marketability or value from proximity to high-voltage transmission lines or substations due to buyers' concerns about potential health effects. While scientific evidence on health risks is inconclusive, market perception is real.
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Key Terms to Know
Net Operating Income (NOI)
The annual income generated by an income-producing property after subtracting operating expenses, but before debt service.
Comparable Sales (Comps)Recently sold properties similar in size, condition, and location used by appraisers and agents to estimate a property's market value.
AppraisalA professional estimate of a property's market value prepared by a licensed or certified appraiser.
DepreciationA reduction in the value of an improvement (building) over time due to physical deterioration, functional obsolescence, or external factors.
Math Concepts
State-Specific Concepts
DRE Regulation
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