HankHillsBrother Posted July 14, 2007 Share Posted July 14, 2007 I live almost across the road from the new Wal Mart SC going up at the intersection of Fry and W Little York. Can anyone give me a good educated guess or opinion on what I can expect as far as my home's resell value being influenced by the big blue box? Can I expect it to decrease or increase or not change? I haven't been able to get a good idea as of yet. I have discovered that my neighborhood has not increased in value and that I would be lucky to come close to breaking even if I sold, and my house is only three years old. Granted my neighborhood is made up of low end starter homes but it's a nice little neighborhood for those of us who don't make huge money. (This being my first post I just want to say I have installed and will use the spell check tool because bad spelling on the internet drives me nuts!) Link to comment Share on other sites More sharing options...
Pumapayam Posted July 14, 2007 Share Posted July 14, 2007 I live almost across the road from the new Wal Mart SC going up at the intersection of Fry and W Little York. Can anyone give me a good educated guess or opinion on what I can expect as far as my home's resell value being influenced by the big blue box? Can I expect it to decrease or increase or not change? I haven't been able to get a good idea as of yet. I have discovered that my neighborhood has not increased in value and that I would be lucky to come close to breaking even if I sold, and my house is only three years old. Granted my neighborhood is made up of low end starter homes but it's a nice little neighborhood for those of us who don't make huge money. (This being my first post I just want to say I have installed and will use the spell check tool because bad spelling on the internet drives me nuts!)Parking lot lights will make night time still look like day time, depending on how close you are. Not a pretty site. Link to comment Share on other sites More sharing options...
TheNiche Posted July 14, 2007 Share Posted July 14, 2007 I live almost across the road from the new Wal Mart SC going up at the intersection of Fry and W Little York. Can anyone give me a good educated guess or opinion on what I can expect as far as my home's resell value being influenced by the big blue box? Can I expect it to decrease or increase or not change? I haven't been able to get a good idea as of yet. I have discovered that my neighborhood has not increased in value and that I would be lucky to come close to breaking even if I sold, and my house is only three years old. Granted my neighborhood is made up of low end starter homes but it's a nice little neighborhood for those of us who don't make huge money. (This being my first post I just want to say I have installed and will use the spell check tool because bad spelling on the internet drives me nuts!)I wouldn't expect much of a change from the Wal-Mart. Your greater concern should be that the starter home market is weakening as a result of more stringent lending practices and oversupply of new product. Link to comment Share on other sites More sharing options...
moni Posted July 14, 2007 Share Posted July 14, 2007 Walmart traditionally brings in new businesses so that may be a plus for your neighborhood. Also, the Super Centers have nice grocery stores and delis, so living near one will make like easier and less expensive, especially since groceries prices are really on the upswing. When Walmart brought their SC to our small town, we were thrilled, and now we wonder how we got along without it. Best of luck to you and my personal thinking is that it will be a positive for the "starter" home real estate market. Link to comment Share on other sites More sharing options...
Trae Posted July 14, 2007 Share Posted July 14, 2007 I would hate to live next to a Wal-Mart. Make sure their dumpster isn't right behind your house, or rats will become your friend. Link to comment Share on other sites More sharing options...
charris911 Posted July 15, 2007 Share Posted July 15, 2007 Unless you are directly next to the Wal-Mart itself, I would guess that it will not decrease your property value. Actually, you may find your value of the home, being increased because of new buisness in the area. I would agree with a previous poster, that what is causing a decrease in value of homes in your area...is the market of starter to moderatly priced homes. The first time and low income families are just not being approved for loans...and those that have had previous loans are defaulting in record numbers. This lowers values of certain neighborhoods. Link to comment Share on other sites More sharing options...
el chileno Posted August 5, 2007 Share Posted August 5, 2007 I hate Wal Mart. I wish they'd tear them down and build nice Super Targets. Link to comment Share on other sites More sharing options...
ayannaaaliyah Posted August 22, 2007 Share Posted August 22, 2007 Can't say if it'll be the main reason for a decrease in value however, I don't think it's going to help increase the value. That whole area is full of cookie-cutter homes and they're still building. I don't think that the area is going to appreciate in value at all because the homes are cheaply built and will be only an attraction for "investors" (who will turn them into rental properties), or first time home buyers who haven't done much research on the builders and think that their best option is to go with "new construction". Link to comment Share on other sites More sharing options...
bcnet Posted August 22, 2007 Share Posted August 22, 2007 I agree with the above poster that in the general area of the Walmart it is the quality and lack of design on the homes that will could cause values to fall or be stagnent. For example, them homes across 99 from the new center have a lot of cheap looking siding that in several years will be molded and warping, are unoriginal in design and sit extremely close to the freeway. I can only imagine living there when there is a stack of direct connectors coming from all directions at 99 and the Westpark tollroad looming over your home. I think this shows you the quality of the developer versus the delopers of Cinco, Seven Meadows, Grand Lakes, or Waterside Estates further down 99. They should have put some kind of detention, planted some trees, or just set the first row of homes back a little. Link to comment Share on other sites More sharing options...
RWReagen Posted November 10, 2008 Share Posted November 10, 2008 Well this new Wal Mart at North Fry and West Little York has been open for about 6 months now and I have to say its not as bad as I was anticipating. First of all they brought in several large trees near the front of the store which look good and take the starkness out of the parking lot. Also the parking lot has very good entrances and exits and has an interesting curved lane in the front. Getting in and out is never a problem. We'll see come the height of holiday shopping time though. I also like the drive through outdoor mulch and garden supply lane. That will keep the parking lot looking neater. With several other stores only 5-8 miles away in 3 directions the store never seems to be very crowded. I actually had a manager come over and make a point of getting me helped out at the paint counter then offered me a gift card for my trouble. And I had not raised a stink over it either. I'm still not real huge on WM but with gas prices the way they have been I had been driving past Krogers across the street 6 miles into town to shop at HEB. But now with the new WM and gas coming back down to earth we have been using WM for most of our groceries just for the cost effectiveness. As far as the area around the store, the parking lot lights don't seem to be too bright or intrusive, and the landscaping and lot seems to be kept up fairly well for now. All in all, I'd rather have a nice green field and park on that site but if I had to have new Wal Mart I guess it could be a lot worse. Link to comment Share on other sites More sharing options...
CandW Posted November 10, 2008 Share Posted November 10, 2008 For the record...the Houston market is not overbuilt. Speak to any of the developers that lost their shirts in the 80's and they will tell you the same thing...one of the reasons the Houston area has not been as affected by the downturn in the economy is due to supply and demand has been kept in sync with each other...what you are seeing being built now was already planned for...just like the govt budget...when it is set and the money is there...they have to move forward with the construction based upon their loan requirements from the banks...in other words, they can't just sit on the money or they (the developers/builders) are in default on the loans...this is for anyone that is out there....don't assume anything unless you understand the economics of what and how builders/developers obtain the financing for new developments...Regarding the OP's question, IMO the WM will not detract from your property values as much as the area in which you purchased your home...my wife and I live south of I-10 and made that choice based upon economics and an understanding of the market areas....everything from school district to home values. The Katy Prarie area was developed with no significant master plan...MOST everything south of I-10 will hold it's value based upon the quality of developments that include Falcon Point, Cinco Ranch and Grand Lakes. I am a Katy native and have worked in the real estate field for the past 13 years and saw the "writing on the wall" when all the developments started popping up north of I-10. Those areas were the first to get hit by the 80's real estate bust for many reasons, partly because of the S&L's lending too much money for overpriced product...what we have now is lending money to too many people that had not established qualified credit...and bottom line...greed by many people that knew what they were doing, i.e. no doc loans.BTW, I am not slamming the OP for purchasing their home in the market area they did. When someone would ask me where to purchase a home, I would always explain to them the market dynamics they would want to look at and let them make an educated choice on their own. For the record, I live in that middle tier home that is surrounded by larger homes, thus it has buffered my values to an extent. Link to comment Share on other sites More sharing options...
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