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Hazardous Waste

Quick Takeaways

  • Land clean-up has many societal benefits, including the improvement of health, well-being, safety, aesthetic, and property value.
  • The United States Environmental Protective Agency regulates the categorization and cleanup of hazardous waste in partnership with local government agencies.
  • Monitoring hazardous waste and encouraging the cleanup of Brownfields and other areas is also a step towards environmental health.

Source: Economics of Land Cleanup and Waste Management (United States Environmental Protection Agency)

Hazardous waste is found in many forms, ranging from pollution to medical waste to radioactive waste. This waste is harmful to humans and creates many challenges when trying to real estate development. The United States Environmental Protection Agency has many laws and programs in place to keep homeowners safe and improve land use.

The health and safety of land plays a huge role in not only property value, but whether or not said land can be inhabited at all. There are many things that can be done to rehabilitate these sites, but even living near one can affect property value and/or the ability to sell your home because of perceived risk.

Brownfields are a category of often vacant property that have been designated as potentially harmful, and will most likely require extra work and money to become habitable and safe. These sites were often industrial in nature and became contaminated with chemicals used in production and mining. The EPA estimates that there are more than 450,000 brownfields across the United States. They can be remediated through public-private partnerships. Successful remediation projects include converting former auto plants into new residences, and turning a former landfill into a baseball complex.

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References

We've already done the research for you. References (formerly Field Guides) offer links to articles, eBooks, websites, statistics, and more to provide a comprehensive overview of perspectives. EBSCO articles (E) are available only to NAR members and require the member's nar.realtor login.

Hazardous Waste

Lawsuit: Radioactive Waste Killed Lewiston Woman (Investigative Post, Jun. 18, 2024)

In the 1950s, Titanium Alloys Manufacturing was under contract with the federal Atomic Energy Commission to produce zirconium tetrachloride, used to coat fuel rods for nuclear reactors. The company had licenses from the AEC to recycle radioactive thorium and uranium in its electric furnaces, according to federal records. 

The waste material from those processes is the likely source of the radioactive contamination found in and around the Palmeri house, according to the current lawsuit.

A Real Estate Buyer’s Guide to Environmental Hazards (Hutchinson Cox, Apr. 1, 2024)

Real property buyers should be alert to a number of issues, including:

  • Current or past signs of heating oil use, such as a furnace in the cellar or pipes sticking out of the ground near the house.
  • If an older home, whether or not it contains asbestos.
  • Metal drums on the property or stained soil with chemical smells.

If a buyer learns a problem might be present, they should investigate further. To qualify as an "innocent purchaser," and to try to obtain protection from liability for cleanup costs, a buyer must exercise due diligence in investigating conditions before closing the purchase. This requires making all appropriate inquiries that could reveal possible contamination.

People in East Palestine Were Told Their Homes Were Clear of Toxins Last Year. That Might Not Have Been the Case (CNN, Mar. 9, 2024)

In the first few weeks after the spill, more than 90% of 702 people in the area who answered a government health survey reported having headaches, and more than 70% reported coughing or burning eyes. Stuffy noses, dizziness and breathlessness were also common, as were new or worsening mental health problems.

Health officials said the symptoms reported in the survey were consistent with the known health effects of the chemicals that were on the train.

How to Sell Older Homes That May Contain Hazardous Materials (CRES)

Older homes may contain timbers that are chemically treated with copper or arsenic. Treatment such as this used to be commonplace to increase defense against insect attacks and rot. However, if drilled or sawn, it can create dust that is toxic to humans and especially to children. Treated timber is typically a gray/green color. 

Impact on Property Value

Does Asbestos Affect a Home’s Value? (Angi, Dec. 5, 2023)

The amount of asbestos found in a home can significantly affect its value. Properties with extensive amounts of asbestos-containing materials may be viewed as more hazardous investments, due to the potential health risks associated with asbestos exposure. However, the impact on home value does not solely rely on the presence of asbestos.

A Calif. House is Listed for $1.55 Million. There’s a Meth Lab Inside (The Washington Post, Oct. 30, 2023)

The house, which has a pool, last sold for $1.51 million in March 2021, according to Redfin. Pagliassotti said he expects the home’s cleaning costs and safety risks will lower its market value.

“Anyone that buys this house, from my perspective, has to be prepared for the worst-case scenario in terms of cleanup,” Pagliassotti said.

Does Your Trust Have an Environmental Indemnification Clause? Kiplinger Personal Finance, Jul. 19, 2023)

“The primary purpose of the clause is to encourage a trust company or individual trustee to accept a trust appointment wherein the trust owns or will own real property that has been used as farmland, industrial or commercial property. These uses are more likely to involve the presence of substances and chemicals that could escape into the air, soil or groundwater, thereby causing a health or environmental hazard, than residential properties.”

Environmental Issues Affect Property Value (HAR.com, Jul. 14, 2023)

Environmental site assessments, specialized appraisal methodologies, and professional expertise are crucial for accurate valuation. Mitigating environmental risks through remediation efforts and embracing sustainable practices can help preserve property values and cater to the evolving demands of environmentally conscious buyers.

Brownfields

Turning Brownfields to Blooming Meadows, With the Help of Fungi (Yale Environment 360, Jun. 27, 2024)

Decomposer fungi can degrade petrochemicals the same way they would break down a dead tree. And in doing so, they reduce the toxicity of these petrochemicals and create soil that no longer has these contaminants or has much reduced concentrations of it. They can also eat plastic and other things made out of oil, like agrochemicals.

What is a Brownfield? (Center for Community Progress, May 21, 2024)

Brownfield properties are challenging to redevelop because, when active, they might have been home to businesses and industries that used chemicals harmful to human health and the environment. Over time, arsenic, asbestos, lead, petroleum and hydrocarbons (PAHs), volatile organic compounds (VOCs), and other contaminants can infiltrate soil, groundwater, airborne particles, and structures due to spillage, improper storage, or container and property deterioration. 

Front Line: Brownfields Offer Redevelopment Opportunities (Area Development, Q4 2023)

“Brownfields redevelopment can be a real asset as they are located in both urban and rural areas, typically found with existing infrastructure in place from roads and railways to utilities, sometimes found with significant utility capacity levels, and often close to population centers, meaning access to workforce,” Martin says.

Web Resources

Agency for Toxic Substances and Disease Registry (ATSDR)

Brownfields (United States Environmental Protection Agency)

Climate Change (National Association of REALTORS®)

Superfund (United States Environmental Protection Agency)

Smart Growth: A Toolkit for REALTORS® (National Association of REALTORS®)

Household Hazardous Waste (United States Environmental Protection Agency)

Books, eBooks & Other Resources

eBooks.realtor.org

The following eBooks and digital audiobooks are available to NAR members:

Mixed-Use Development: Nine Case Studies of Complex Projects (eBook)

Land Development (eBook)

Pollution and Property (eBook)

Sustainable Property Development (eBook)

Books, Videos, Research Reports & More

As a member benefit, the following resources and more are available for loan through the NAR Library. Items will be mailed directly to you or made available for pickup at the REALTOR® Building in Chicago.

Property Values and Environmental Factors Special Edition (San Diego, CA: American Real Estate Society, 2014) NAC1565 Am3

Environmental Hazards and Residential Property Values: Evidence from a Major Pipeline Event (Bellingham, WA: Western Washington University, 2006) NAC 1565 H19

Greenfields, Brownfields and Housing Development (Oxford, UK: Blackwell Publishers, 2002) NAC 852 A1

Valuing Contaminated Properties: An Appraisal Institute Anthology (Chicago, IL: Appraisal Institute, 2002) HD1389.5.U6 V36 2002

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