Bloggers - Your opinion please - Pricing question.

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Real Estate Agent with RE/MAX Alliance

Hello everyone! I have never lived through this before and I would like to have your opinion if you have a moment. There is a new Target about to open in my farm, and I am wondering how will home prices be affected when the store is open. What has happened in other areas? What´s your experience?

My farm is a middle-upper class community in Colorado, with average price around $300k. The only other big store in the neighborhood is Home Depot. Then, there is Safeway and King Soopers, and of course small stores adjacent to the grocery stores. The closest other Target or Walmart is around 10 miles away.

What's your take on this?

Thanks in advance!

Tere

 

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Location:
Colorado Douglas County
Tags:
highlands ranch
colorado
denver
littleton
centennial
castle rock

Comments 23 New Comment

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Rainer
48,130
Sara Goss
Realtor - Houston Bay Area, Texas
HatmakerGroup.com GMAC Real Estate

Have the residents spoken with the developer and/or Target regarding the look of the store, if that matters to them? Stores don't all look the same, our subdivision got a better looking bigbox because we demanded it.

September 08, 2009 10:31 PM
Rainmaker
197,630
Mark Velasco
Friendly Hills Homes for Sale - Whittier, Ca. Real Estate - Listings
Realty Source, Inc (Luxury Homes Division)

Let the market determine your price Tere. It could go up, down, or stay the same. Let the comps tell you.

September 09, 2009 12:13 AM
Rainmaker
791,900
Lyn Sims
Schaumburg Homes
RE/MAX Suburban - Schaumburg IL Real Estate - Northwest Suburbs of Chicago

People here love it, now our Target remodeled and offers groceries.  What is so bad about a Target? They are the cleanest stores I know of.  Heck, our stupid Walmart has police patrols in the later hours of the evening.  Kids knocking down old ladies to steal their Pepto Bismol & socks.  Nonsense.

September 09, 2009 12:28 PM
Rainer
25,765
Diane Loveridge
Keller Williams

Tere,

I would think the difference is whether the new Target is part of a larger community revitalization effort. If so, I would expect it to help. If not, I don't think it would make much of a difference, except to those people who live directly next to the store.

I bought a house years ago down the road from a hotel that was being remodeled and a pedestrian overpass under construction. It turned out to be a great investment. Right now I own a house down the street from a newly constructed Target, and it has not helped home values. Of course this is a difficult time to expect a rise in values, so then again...

September 09, 2009 03:00 PM
Rainmaker
255,069
Carrie Sampron
ABR SFR & Kathy Sampron (303) 931-3629 Highlands R
Home Smart Realty Group

Tere:  Great question.  We will be prepared for the questions as well since we work on the west side of Highlands Ranch.  Take care - Carrie

September 14, 2009 05:25 PM
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Rainer
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Tere Cardenas

MBA - Colorado
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