Big Box stores and Property Values

By
Real Estate Agent with Coldwell Banker Tomlinson

Lately in the U.S. there have been strong oppositions to "Big Box" stores coming into neighborhoods.  Homeowners are concerned about preserving their way of life, including their property values.  Many communities have passed ordinances keeping theses mega stores out.  But I wonder, does it work the same for every community?  It seems in my town of 60,000 that the more large retailers the better...I've seen many new companies move in in the past few years and with that, more people, and prices of homes have steadily increased.  In my town, we have a neighborhood just out the back door of the biggest of the big boxes and people are lining up to buy!!  You see, my town is popular with baby boomers..and the closer to these stores, the better!! 

Yes, some of the employers have a reputation for low pay, but others are quite competitive with their pay.  I just sold a home to an employee of a large warehouse store, and am working with another employee of another who is on the brink of buying. I know that these stores are driving the local business out, and I feel for those business owners, but as for lowering the wage rates, I don't think that happens.  Do ma and pops really pay their people more than the biggie?  I think it is just the opposite.  As for leaving vacant lots that drive down the property values, It's not happening here.  More traffic, yes, but that increased traffic is making more business want to come in and that is bringing more people...

I hear people knocking these stores every day, but yet the parking lots are crammed 7 days a week, someone is shopping there.  I hear every day about someone working at these stores, so they must not be that bad, or they would not be applying and working there...and some of these people are buying homes from me!!

I live in a smaller area and I read where some of these stores target the outer areas which makes it where people have to drive, but as for the person who lives in a small area, it is NOT as far for me to drive..It just depends on how you look at it, or who has to do the driving...

Have any of you tracked the values of property and the relationship with the super center?  For me and my area, I have not seen that negatively...

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