Page 1 of 3 123 LastLast
Results 1 to 20 of 41

Thread: Walmart and residential property values

  1. #1
    Join Date
    Aug 2004
    Location
    Baton Rouge, LA
    Posts
    31,727

    Default Walmart and residential property values

    Anyone know if the presence of a new walmart will raise or lower residential property values?? The reason I'm asking is because I'm looking at a neighborhood to buy a house in, and across the street from the subdivision, they are building a new walmart (I presume it's not a supercenter) and am wondering if I should stay away from this neighborhood, or if the convenience of the shopping might increase the property value. The houses we're looking at are within the neighborhood, not on the edges, i.e., not close to the new construction. Any info is greatly appreciated.
    **Disclaimer** So as to avoid confusion, I'm not speaking for everyone

  2. #2
    Join Date
    Aug 2004
    Posts
    25,100

    Default Re: Walmart and residential property values

    First thing I found is here, it might help:

    http://answers.google.com/answers/threadview?id=455838
    Follow Sports-Boards on and
    Quote Originally Posted by SaveTheWhalers
    It's like a wet moist cheesey orgasm in your mouth... I'd eat that shit every day.

  3. #3
    Join Date
    Aug 2004
    Location
    Baton Rouge, LA
    Posts
    31,727

    Default Re: Walmart and residential property values

    Quote Originally Posted by sully
    First thing I found is here, it might help:

    http://answers.google.com/answers/threadview?id=455838


    yeah, I saw that, too, but the info they give is pretty useless.
    **Disclaimer** So as to avoid confusion, I'm not speaking for everyone

  4. #4
    Join Date
    Aug 2004
    Location
    Southern Illinois
    Posts
    52,352

    Default Re: Walmart and residential property values

    Quote Originally Posted by Pennywise
    Anyone know if the presence of a new walmart will raise or lower residential property values?? The reason I'm asking is because I'm looking at a neighborhood to buy a house in, and across the street from the subdivision, they are building a new walmart (I presume it's not a supercenter) and am wondering if I should stay away from this neighborhood, or if the convenience of the shopping might increase the property value. The houses we're looking at are within the neighborhood, not on the edges, i.e., not close to the new construction. Any info is greatly appreciated.
    That question is debated in cities across WalMart's area everytime they try to open one up. I think that Walmart's build and abandon history means that the property values will eventually go down.
    They build a store, then they abandon it and move a little farther out and build a bigger one. Some low rent tenant moves in, the building isn't taken care of, the parking lot turns to gravel.
    The increased traffic would irritate me enough that I wouldn't want to pay as much for a home near them.
    just picked up a prescription that used to be $65 and is now $100. thanks ObamaIslamoCommunistDeathPanelTaxCare
    Enya
    If they like their cake, they can keep their cake.
    Marie Antoinette

  5. #5

    Default Re: Walmart and residential property values

    http://sports-boards.net/forums/show...806#post313806

    I guess I should know more about this then...

  6. #6
    Join Date
    Sep 2004
    Location
    Work...always at work
    Posts
    43,588

    Default Re: Walmart and residential property values

    Quote Originally Posted by Pennywise
    Anyone know if the presence of a new walmart will raise or lower residential property values?? The reason I'm asking is because I'm looking at a neighborhood to buy a house in, and across the street from the subdivision, they are building a new walmart (I presume it's not a supercenter) and am wondering if I should stay away from this neighborhood, or if the convenience of the shopping might increase the property value. The houses we're looking at are within the neighborhood, not on the edges, i.e., not close to the new construction. Any info is greatly appreciated.
    The only thing I can say is that if they're building one, its a sign that the area is growing. Growth usually equals higher prices... They don't just build those things anywhere. Too bad it isn't a supercenter...the just built one close to me...right down the street from the super target.
    ToDo List:

  7. #7
    Join Date
    Oct 2004
    Location
    On the twisty slide of life
    Posts
    15,199

    Default Re: Walmart and residential property values

    My honest opinion is that it is best to be at least a mile from one. In the area i live (C-bus Ohio) every spot that has a Wal-mart has a pretty poor neihborhood for a few blocks around it. However a little farther away is usually some very good areas. Take Dublin, OH (yes the home of Wendy's). The city overall is one of the finest in all of Ohio for land values. There is a Wal-mart in one area of the city and surrounding it is the worst part of the whole city. The same theme seems to follow with the other Wal-marts in the area. Of course what the heck do I know.

  8. #8
    Join Date
    Aug 2004
    Location
    Southern Illinois
    Posts
    52,352

    Default Re: Walmart and residential property values

    Quote Originally Posted by BearForceOne
    My honest opinion is that it is best to be at least a mile from one. In the area i live (C-bus Ohio) every spot that has a Wal-mart has a pretty poor neihborhood for a few blocks around it. However a little farther away is usually some very good areas. Take Dublin, OH (yes the home of Wendy's). The city overall is one of the finest in all of Ohio for land values. There is a Wal-mart in one area of the city and surrounding it is the worst part of the whole city. The same theme seems to follow with the other Wal-marts in the area. Of course what the heck do I know.
    I agree. Behind the Walmart and Sams here is a trailer park, across the road is a truck stop. Then there's a cheap motel on the other side.

    Go across the highway and you find a Red Lobster, a huge mall, An exclusive golf course with a subdivision where lots were going for $75,000 last time I checked.
    just picked up a prescription that used to be $65 and is now $100. thanks ObamaIslamoCommunistDeathPanelTaxCare
    Enya
    If they like their cake, they can keep their cake.
    Marie Antoinette

  9. #9
    Join Date
    Aug 2004
    Location
    Baton Rouge, LA
    Posts
    31,727

    Default Re: Walmart and residential property values

    well, the neighborhood is already well established with fairly nice homes, and down the road less than a mile are some VERY nice homes (I'd say in the range of 300-500k).

    Right now, it is somewhat rural, so there are some trailer park areas, but the town is a satellite of Baton Rouge, and people are moving there in herds, and the area is growing quite fast. Also, area schools are better than BR.

    I've also seen some of the areas around other walmarts and will agree that they're not so good. But were those areas not so good before, or did they become that way after walmart came around?
    **Disclaimer** So as to avoid confusion, I'm not speaking for everyone

  10. #10
    Join Date
    Aug 2004
    Location
    Miller Park Section 209
    Posts
    16,879

    Default Re: Walmart and residential property values

    Quote Originally Posted by ryr8828
    That question is debated in cities across WalMart's area everytime they try to open one up. I think that Walmart's build and abandon history means that the property values will eventually go down.
    They build a store, then they abandon it and move a little farther out and build a bigger one. Some low rent tenant moves in, the building isn't taken care of, the parking lot turns to gravel.
    The increased traffic would irritate me enough that I wouldn't want to pay as much for a home near them.
    i'm with ryr on this one. i'd go with the NIMBY rule here.
    Not In My Back Yard.

  11. #11
    Join Date
    Nov 2004
    Location
    Near the 45th parallel
    Posts
    13,845

    Default Re: Walmart and residential property values

    Walmart is the devil.

  12. #12
    Join Date
    Aug 2004
    Location
    The Debbie Downer
    Posts
    3

    Default Re: Walmart and residential property values

    Wal-mart is quick to abandon the non Super Center versions

  13. #13
    Join Date
    Aug 2004
    Location
    Baton Rouge, LA
    Posts
    31,727

    Default Re: Walmart and residential property values

    the other thing to take into consideration is the amount of time I will be in the house, which will likely be no more than 4-5 years, or as little as 2. I would imagine there's probably a year before it opens, so I should be long gone by the time the place goes to the shitter.
    **Disclaimer** So as to avoid confusion, I'm not speaking for everyone

  14. #14
    Join Date
    Aug 2004
    Location
    The Debbie Downer
    Posts
    3

    Default Re: Walmart and residential property values

    if you may only be in the house for 2 years, then why get a house? 5 maybe, 2 no

  15. #15
    Join Date
    Aug 2004
    Location
    Baton Rouge, LA
    Posts
    31,727

    Default Re: Walmart and residential property values

    Quote Originally Posted by manny
    if you may only be in the house for 2 years, then why get a house? 5 maybe, 2 no



    Renting apts and houses around here is quite expensive. We'll save money in a house, and as I said, there's the possibility of us being here longer.
    **Disclaimer** So as to avoid confusion, I'm not speaking for everyone

  16. #16
    Join Date
    Aug 2004
    Location
    The Debbie Downer
    Posts
    3

    Default Re: Walmart and residential property values

    so long as you come up with a way to build equity in the house, if the property values do rise you are in business.

  17. #17
    Join Date
    Aug 2004
    Location
    Baton Rouge, LA
    Posts
    31,727

    Default Re: Walmart and residential property values

    Quote Originally Posted by manny
    so long as you come up with a way to build equity in the house, if the property values do rise you are in business.


    houses in baton rouge appreciate about 5% a year, and the outlying areas are growing even faster (hence the new wally world). Plus, we're going to buy a house that needs some minor work, and fix it up, hopefully building enough equity to cover closing costs and realtor fees upon moving. That's all we're looking for. We figure if we break even, it's no different than renting, and we have that much better of a place to live.
    **Disclaimer** So as to avoid confusion, I'm not speaking for everyone

  18. #18
    Join Date
    Sep 2004
    Location
    First State
    Posts
    47,113

    Default Re: Walmart and residential property values

    Personal experience - not mine, but my parents are having one built a couple of miles away. There is going to be a neighborhood of lower-cost housing in the immediate vicinity of the Wal-Mart to accomodate the job influx. However, the already established (higher value) neighborhoods in the immediate area are already seeing a drop in housing values as the expected traffic is going to be terrible. Extra stoplights are already in, causing congestion - and the WM isn't even open yet.

    If you can get a few miles away, you are probably going to see a rise in property values. If you'll have to drive very close to it to enter the neighborhood, you'll probably see the values remain flat, possibly even drop in the short term. Long term, they'll probably rebound. The problem from what I've seen with the WMs is that they don't attract other shops, as they try to do everything. If you instead had some more specialized shops going in (clothing stores, electronics, etc), they would attract OTHER specialized shops (for different categories) - which, despite the increased traffic, generally promotes a rise in property values.

    Of course, this is all without any kind of data to support my claims.
    If the only tool you have in your toolbox is a hammer, soon everything starts to look like a nail.

  19. #19
    Join Date
    Sep 2004
    Location
    Work...always at work
    Posts
    43,588

    Default Re: Walmart and residential property values

    Quote Originally Posted by domenick2x
    Personal experience - not mine, but my parents are having one built a couple of miles away. There is going to be a neighborhood of lower-cost housing in the immediate vicinity of the Wal-Mart to accomodate the job influx. However, the already established (higher value) neighborhoods in the immediate area are already seeing a drop in housing values as the expected traffic is going to be terrible. Extra stoplights are already in, causing congestion - and the WM isn't even open yet.

    If you can get a few miles away, you are probably going to see a rise in property values. If you'll have to drive very close to it to enter the neighborhood, you'll probably see the values remain flat, possibly even drop in the short term. Long term, they'll probably rebound. The problem from what I've seen with the WMs is that they don't attract other shops, as they try to do everything. If you instead had some more specialized shops going in (clothing stores, electronics, etc), they would attract OTHER specialized shops (for different categories) - which, despite the increased traffic, generally promotes a rise in property values.

    Of course, this is all without any kind of data to support my claims.
    Yeah, I'm about 3 miles away from one...seems about right.

    The shopping center built with the walmart blows though...a restaurant named "Family Restaurant", some electronics store and a Cost Cutters. I think a dollar store will be moving in shortly...I can't wait for that...
    ToDo List:

  20. #20
    Join Date
    Aug 2004
    Location
    Baton Rouge, LA
    Posts
    31,727

    Default Re: Walmart and residential property values

    well, I just got back from looking at 3 of the houses in the neighborhood. Our realtor didn't seem to have a problem with the walmart being there, and commented that it just means it's growing, so I have no idea what to think about it.

    2 of the 3 houses were quite nice...the wife loved them, so I don't know what's going to happen.
    **Disclaimer** So as to avoid confusion, I'm not speaking for everyone

Page 1 of 3 123 LastLast

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •