There are many studies and many statistics. They seem to not be conclusive. It also depends on your specific area and many factors. My experience has been that there COULD be a temporary dip in values while construction is going on; as no one wants bulldozers and concrete trucks in their backyard! But usually the values rebound and, sometimes, go higher; all depending on the desireability of the school.

If you are thinking of selling, either do it NOW or wait until the school is completed. Once they have bought the property, any potential dip in values will likely begin. If it were me, I would not be concerned. Unless there is something unusual about your situation, they are probably only going to be putting money in your pocket down the line. Do some research and you will be in a better position to make a good decision.

Ellen,

Generally, the presence of schools or churches does not lower property values in a neighborhood. As long as the building is not a monstrosity that is a sore to look at from your yard, you should have nothing to worry about. The Journal of Real Estate Finance and Economics has published a study that indicates that neighborhood churches are amenities that enhance the value of neighborhood residential property.
If you're considering selling your property, there are ways to mitigate the fact that you share a boundary line with a school or church with the use of screening and landscaping. In marketing the property your agent can emphasize the positive aspect,s such as guaranteed maintenance, playgrounds etc.
If you're interested in a copy of the report, let me know.

Sandy

Hi Ellen,
Another great question. My office is just off Cooper Pt Rd in West Olympia. Let's get together for a pop or coffee. Those who know me know that I'm a stickler for research. First step is meeting to identify the details.

Did you ever decide how to manage the insurance on your manufactured home?

Susan 539-1820
Results that will move you!

Hi Ellen,

It would help us to know the location better. A school nearby is not necessarily a positive or negative. I grew up in Olympia, so I'm sure I could help or another local Realtor could give you more information. Just give us some details.

Your best answer should be from a local, experienced Realtor who can provide you market history to document her answer. Good luck!