Special to The Times

News of last week’s devastating earthquake and tsunami in Japan revisited unrest in the Bay Area. Many recounted the ’89 Loma Prieta shaker which caused 63 deaths, left 3,757 injured and rendered thousands homeless. While baseball enthusiasts remember the quake for upsetting the 1989 Word Series, Realtors hearken back to the effects on real estate.

A severe temblor might knock a person off their feet, but, as long as they’re not impacted by debris, they can stand up, dust themselves off and move on.

Buildings aren’t so lucky. People are designed to move: homes are built to stand firm. If you’ve lived in the Bay Area long enough, you’ve seen evidence of the ways structures can be impacted. Some are minor, others can be very serious. I vividly remember images of collapsed homes in the San Francisco Marina.

There are varying levels of property damage caused by ground movement. Light shaking can result in stress cracks in stucco, sheetrock, concrete sidewalks, patios and driveways. Windows fitted too tightly may crack. Doors may shift and stick or no longer close properly.

More severe damage includes cracked or dislocated foundations, walls moving off foundations or collapsing and broken utility pipes. Significant damage can render a residence uninhabitable.

Homes particularly impacted during earthquakes include those located in hilly slide zones or in high-liquefaction areas. In the event of major seismic activity in the Bay Area, we could also be impacted if levies are broken, an offshore event triggers tsunami waves or a dam breaks. We’re surrounded by numerous manmade reservoirs — damage could result in serious flooding of surrounding homes.

When homes are damaged, it not only affects habitability, it renders them unsalable until ensuing issues are resolved. In 1989, numerous real estate transactions were put on hold until additional inspections could ascertain whether or not there was damage. Other sales were cancelled outright.

Bottom line: In addition to the human toll, earthquakes can unleash a devastating tsunami of effects in the real estate market. It’s hard to comprehend the extent to which the real estate market in Japan will be impacted over the next number of months, but it will be severe.

The thoughts and prayers of Central County Realtors are with Japan as they labor to overcome this disaster and we know local residents are standing with us as well.

Carl Medford is a licensed Realtor with Prudential California Realty in Castro Valley and a licensed general contractor. This article is sponsored by the Central County Marketing Association at www.ccmgtoday.com.

Article source: http://news.ebpublishing.com/index.php?option=com_content&view=article&id=895:quakes-trigger-tsunami-of-real-estate-issues-&catid=7:examples&Itemid=121