Land in front of my house is being turned into a Home Depot

[waggy]

Originally posted by: dmcowen674

Originally posted by: JeepinEd
All this development will be in the immediate vicinity of a High School, a Middle School and a park.

Enjoy living there, in 10 years you will make a ton of money on your investment.

That is now prime real estate.

if that. it really depends on how fast they are building.

but i agree.

 

[Homerboy]

it would go up because other businesses tend to want to congregate around major stores like this. which is what you've said, but i wanted to explain why i said it.

right but as dmcowen674 said too, it will take time (10yrs) before there's a critical mass reached. Me? Sure I'd hold out as long as I could, Hopefully they develop TOWARDS him though and not away from him. If they develop away from his land, then he is screwed and the property, once beautiful farmland, will now be just some houses located behind a huge commercial strip.

And honestly, if he's facing the backside now, he likely will be facing the backside then too as the competitors will most likely build across the street from the Target/HD/etc and not behind it.

Without knowing the lay of the land its pretty hard to determine that.

 

[GuitarDaddy]

Level your house and build a truck stop, get rich and build a bigger house a few miles away in the country

 

[JS80]

are you kidding? your property value just jumped.

 

[Fern]

Originally posted by: JeepinEd
-snip- and is there anything that I can do about this? The developers are having a town meeting tonight to get input from the property owners in the area.

Looks like it's time to start looking for a new house. :|

Start hitting on the developers to buy you out. Or at least pay you the (estimated) differential of before and after valuations.

Then can buy from you, and put it on the market and take the hit. Perhaps they can use the property (buffer, expand parking lot, whatever).

Or, you put it up for sale, combine the proceeds with the differential payment form the developer and buy a new house.

If you've lived there two years any gain is tax-free (not reportable).

Otherwise, start making a big fuss. Write letters to the newspaper (Letters to the Editor section, etc). Go to all meeings and voice oposition. Write letters to Planning Board, County Commission etc. Threaten to hire lawyer and sue. Talk of environemental impact studies, traffic DOT studies etc. This will encourage them to just "buy you out".

Might wanna look at it as a money making development. Might wanna talk to a (commercial) broker or other Real estate wheeler dealer-type to help you in negotiations iththe developer etc.

Good Luck,

Fern

 

[dainthomas]

Originally posted by: moshquerade

Originally posted by: Homerboy

Originally posted by: moshquerade

Originally posted by: Citrix
your property value will go up dont worry about it. just smile and say thank you and be on your way.

i agree. this won't hurt his property value at all, and likely will help it.

I don't see why it would go up.
Last I checked, large open estates with tons of natural foliage were more desirable (hence worth more) than yards facing a super-loading dock. His property would/may go up in time if the general area itself now becomes a series of strip malls and super-stores (and gets rezoned from farm to commercial in the process). Then he'll be getting offers from Lowes and Super-Walmart to compete with the (once new) Target and Home Depot.

Regardless, I'd be PO'ed if I were him. Sadly even if he goes and compalins its not going to stop the development. Maybe it will get the HD/Target/whatever to put some natural barrier such aa s trees etc to help relive his view and noise, but his city/town will make too much money off the sale and taxes of the land to not let the commercialization begin.

Sorry OP... just another big business ruining what I assume is beautiful farm/nature land.

it would go up because other businesses tend to want to congregate around major stores like this. which is what you've said, but i wanted to explain why i said it.

Which is great if you want to live in the midst of endless big box stores and strip malls (with requisite loud smelly delivery trucks) rather than peaceful farmland. However, unless his lot gets zoned commercial I don't see where the value of his property would increase.

I renew my statement that OP needs to sell to some sucker and gtfo.

 

[TravisT]

Go to the town meeting and complain. It will obviously be lowering the value of your home some, on the other hand, you may find it quite handy for home repair projects to have a home depot across the street.

 

[JeepinEd]

I'm in the high desert. There is plenty of open land.

The part of the lot directly in front of me, is still in it's natural state. Plenty of Joshua trees and vegetation.
The town that I live in is already considered prime real estate. It has some of the most expensive homes in the region. (mine is not one of them, unfortunately). It also has the best schools in the area.


Edit: I like the idea of having them pay me the difference in property values. That way, even if I sell the house for less, I won't take much of a hit.

It really stinks, though. I put allot of work into that house.

 

[mugs]

Originally posted by: Dirigible
Two story Targets have a special escalator for the shopping carts. They're cool.

Like at Ikea? I love the escalators at Ikea. It's the highlight of my Ikea trip. I also get a kick out of the carts with the 4 turning wheels.

 

[JS80]

Originally posted by: Fern

Originally posted by: JeepinEd
-snip- and is there anything that I can do about this? The developers are having a town meeting tonight to get input from the property owners in the area.

Looks like it's time to start looking for a new house. :|

Start hitting on the developers to buy you out. Or at least pay you the (estimated) differential of before and after valuations.

Then can buy from you, and put it on the market and take the hit. Perhaps they can use the property (buffer, expand parking lot, whatever).

Or, you put it up for sale, combine the proceeds with the differential payment form the developer and buy a new house.

If you've lived there two years any gain is tax-free (not reportable).

Otherwise, start making a big fuss. Write letters to the newspaper (Letters to the Editor section, etc). Go to all meeings and voice oposition. Write letters to Planning Board, County Commission etc. Threaten to hire lawyer and sue. Talk of environemental impact studies, traffic DOT studies etc. This will encourage them to just "buy you out".

Might wanna look at it as a money making development. Might wanna talk to a (commercial) broker or other Real estate wheeler dealer-type to help you in negotiations iththe developer etc.

Good Luck,

Fern

This is the best option IMO. They WILL bribe you to shut your mouth.

 

[Coquito]

Originally posted by: mugs
Two-story Target? I must have died and gone to heaven.

Dude, Queens Mall. Not Queens Center, but right next door.

 

[antillean]

Originally posted by: moshquerade

Originally posted by: Citrix
your property value will go up dont worry about it. just smile and say thank you and be on your way.

i agree. this won't hurt his property value at all, and likely will help it.

BS. Of course it will hurt the property value. Home Depot loading dock vs ranch and view of the mountains... come on.

 

[1sikbITCH]

Originally posted by: moshquerade

Originally posted by: Homerboy

Originally posted by: moshquerade

Originally posted by: Citrix
your property value will go up dont worry about it. just smile and say thank you and be on your way.

i agree. this won't hurt his property value at all, and likely will help it.

I don't see why it would go up.
Last I checked, large open estates with tons of natural foliage were more desirable (hence worth more) than yards facing a super-loading dock. His property would/may go up in time if the general area itself now becomes a series of strip malls and super-stores (and gets rezoned from farm to commercial in the process). Then he'll be getting offers from Lowes and Super-Walmart to compete with the (once new) Target and Home Depot.

Regardless, I'd be PO'ed if I were him. Sadly even if he goes and compalins its not going to stop the development. Maybe it will get the HD/Target/whatever to put some natural barrier such aa s trees etc to help relive his view and noise, but his city/town will make too much money off the sale and taxes of the land to not let the commercialization begin.

Sorry OP... just another big business ruining what I assume is beautiful farm/nature land.

it would go up because other businesses tend to want to congregate around major stores like this. which is what you've said, but i wanted to explain why i said it.

The value of the land might go up, but the quality of life will go right in the crapper. You're facing the back of the building, which means the view of scenic mountains just turned into a lot full of tractor trailers, dumpsters, and stacks of pallets. It'll be noisy all day long and night time too, whenever a rig pulls into town at 3am. That blows.
It would be nice if you could rent it out and live somewhere else until the developers start knocking on your door.

 

[HeroOfPellinor]

It's not just the loading docks and trucks......it's the dumpsters and all the jetsom that accumulates behind those places....pallets, tires, cardboard. I think that cancels out the benefit of being close to those stores and he ends up back to square.

The front of our house faces a fleet of giant trees on our neighbors' properties and I can't tell you how many times a day while working or just getting into our car, I'll turn and gaze for a moment over there to pause and think....just watching the branches weave and sway and the leaves flicker. I wouldn't trade it even for the office building I work at so I could walk to work.

 

[PingSpike]

If you lived in my state, all you'd have to do is phone up the envirnomental group that has a choke hold on any development and they'd find some worm or crab grass that was going to be disturbed by the development and the whole project would fall apart.

 

[Kreon]

We had an old building that was a Sears accross my street

Like you, we faced the loading docks.
When it was ronovated, one of things that was demanded by the neighbors was essentially a privacy fence put up around the back of the building to blot out noise and the bad sights
Also look into city noise ordinances... You might be able to limit when the trucks can be there and the level of noise they make

Like most said, your property will most likely go up, even with the back facing.
Especially if business starts to go up in your area

Good Luck

 

[JEDI]

Originally posted by: JeepinEd
There is a large piece of land across the street from my house. It's a somewhat famous ranch, where they raised and rented movie horses & cows. Now, it's been sold and they want to turn that land into a Home Depot, two story Target + a bunch of smaller stores. The front of the strip mall would be on the other side of the property, leaving the loading docs, etc. facing our street.

What kind of a hit can I expect to take on my property values and is there anything that I can do about this? The developers are having a town meeting tonight to get input from the property owners in the area.

Looks like it's time to start looking for a new house. :|

why do u think prop values go down?

wont it go up because of all the bigname stores?

 

[JeepinEd]

Originally posted by: Kreon
We had an old building that was a Sears accross my street

Like you, we faced the loading docks.
When it was ronovated, one of things that was demanded by the neighbors was essentially a privacy fence put up around the back of the building to blot out noise and the bad sights
Also look into city noise ordinances... You might be able to limit when the trucks can be there and the level of noise they make

Like most said, your property will most likely go up, even with the back facing.
Especially if business starts to go up in your area

Good Luck

That's a good idea, I'll definately bring that up with them tonight, along with some sort of compensation for loss of value.

A few of my neighbors are also talking about moving. All those homes selling at the same time definately won't help the situation.

 

[antillean]

Originally posted by: PingSpike
If you lived in my state, all you'd have to do is phone up the envirnomental group that has a choke hold on any development and they'd find some worm or crab grass that was going to be disturbed by the development and the whole project would fall apart.

Crab grass is non native-- so you have it backwards.

 

[JDMnAR1]

It is probably important to realize that property value is driven by the intended usage of said property. From a residential standpoint, your property value will probably go down. However, from a commercial standpoint the value of your property (with appropriate rezoning) will in all likelihood go up.

Having been through a similar (although much smaller scale) scenario a couple of years ago, there are some things you can do. Unless your local boards are really anti-business, the chances of you actually preventing the development occuring are slim, as that will generate far more tax revenue for the city coffers than any personal property tax on undeveloped or residential land. You can however, get concessions on things such as privacy fences, acceptable delivery times, etc. It would probably be worthwhile to consult with a real estate attorney just to get an idea of what is realistic in your situation.

 

[JeepinEd]

why do u think prop values go down?

wont it go up because of all the bigname stores?

Added noise
Added traffic
Elimination of view
Added crime?

It will completely change the neighborhood. What was once a small town with mom/pop stores will be transformed into another big store strip mall area. The surrounding towns already have 2 Home Depots, 3 Walmarts, 2 Lowes and a Target, along with malls & other tons of other stores. All of them just a 15 minute drive from my house.

 

[JeepinEd]

Originally posted by: JDMnAR1
It is probably important to realize that property value is driven by the intended usage of said property. From a residential standpoint, your property value will probably go down. However, from a commercial standpoint the value of your property (with appropriate rezoning) will in all likelihood go up.

Having been through a similar (although much smaller scale) scenario a couple of years ago, there are some things you can do. Unless your local boards are really anti-business, the chances of you actually preventing the development occuring are slim, as that will generate far more tax revenue for the city coffers than any personal property tax on undeveloped or residential land. You can however, get concessions on things such as privacy fences, acceptable delivery times, etc. It would probably be worthwhile to consult with a real estate attorney just to get an idea of what is realistic in your situation.

The town I live in, is an unincorporated part of a bigger city. While the local city council is not keen on chaning the atmosphere, the city leaders have sold out to developers. They are putting up entire neighborhoods at a time, with little though of schools, hospitals, etc.

I wonder if I can pool $$ with some neighbors and use it to hire a realestate attorney?

 

[Eos]

Every Home Depot I've ever delivered to did not allow truck idling after 9 pm and before 5 am, plus had a tall concrete wall to abate noise when they were waiting to deliver.

 

[Born2bwire]

Well... The Home Depot that will be put up will probably have a bunch of ideas of how you could build a privacy fence and what not to reduce the impact of their store.

 

[Homerboy]

Originally posted by: Born2bwire
Well... The Home Depot that will be put up will probably have a bunch of ideas of how you could build a privacy fence and what not to reduce the impact of their store.

LOL
You'll build it, they will help!