EAST PALESTINE, Ohio — An Ohio broker said appraisers are deeming East Palestine homes as ‘not marketable’.

What You Need To Know

  • In February, a Norfolk Southern train carrying toxic chemicals derailed in East Palestine 

  • A month later and residents continue to feel the impact from the derailment 

  • Some residents have considered moving out of town, but are now faced with a new issue

  • One local broker said some appraisers are deeming homes as not marketable and therefore forcing lenders to not hand out any money

“Everybody’s angry, I mean angry,” said East Palestine resident Mary Lynn Foster. Foster lost her husband and has beaten cancer herself. The Norfolk Southern train derailment that happened a few blocks away from her home, and she's now dealing with that.

“When I looked out and saw those flames and that smoke I thought, 'Oh my God, the whole town's going to burn,'” said Foster. 

Foster has spent most of her life in East Palestine but now ponders her future here.

“Are they [Norfolk Southern] going to buy a place for me to move to that's safe? I doubt that,” she said. 

Marlin Palich said Foster is right to have doubts. The real estate agent from Berkshire Hathaway Home Services said trying to sell a house in East Palatine is going to become a large problem.

“How are they going to sell? There's a stigma there,” said Palich. “The lender would not take the loan because the appraiser said they don't know if the properties marketable.”

Palich said that stigma already has some potential buyers walking away from properties in the area affected by the train derailment.

Not being able to sell a home in East Palestine could make it hard for those who want to move elsewhere for a fresh start.

“They couldn't sell it. Yeah, they couldn't make the mortgage,” said Palich. 

Palich said mortgage lenders won't hand out money for loans on homes deemed not marketable by an appraiser. "Things are being placed on appraisers who determine the value and is there a value,” said Palich. “If there isn't a value, then the lender is not going to loan on it.”

Some residents are hoping the railroad steps up and buys their property or at least compensates them for its lost value. Alan Shaw, the CEO of Norfolk Southern, is drawing criticism for not answering repeated questions during a senate hearing on the crash about whether the railroad is willing to do that.

“Senator, I’m committed to do what’s right,” said Shaw, without saying whether the railroad will compensate for lost property value. 

Meanwhile, Foster is left to continue pondering her future in East Palestine.

“One day at a time, it’s all I can do. And just pray the good Lord is with me,” she said.

Federal Officials continue to monitor the air, water and soil quality and say so far, it is safe.