Market Conditions in Austin>Question Details

Kaylee, Other/Just Looking in Texas

Our neighborhood is in an uproar. The so called Green City of Austin has approved a gas station and 24 hour

Asked by Kaylee, Texas Wed May 7, 2008

car wash literally in our back yards. All the homeowners are worried about drastic drop in property values, increase in crime, emissions, etc. How much do you think home prices will be affected?

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Kaylee:

You didn't give us enough information to give you an answer! What I got from your question was that you were in a DR Horton neighborhood, as am I. It is always a good idea to look at county records to see who owns the adjacent property to a subdivision. By researching both the city plan for the area and the track record of the owner you can sometimes figure out what might happen to adjacent property. I've given advise to my clients based on that information.
1 vote Thank Flag Link Sat Aug 2, 2008
Dear Kaylee,
Since I am not sure what neighborhood you are in it is difficult to speak on the dollar value or negative impact this may have on your property. If you can give more information I may be able to help you.

While I am sorry this has happened to you, it is not uncommon in this day and age. In the future try to buy in a neighborhood that is already developed so you know what you are getting. Or buy something with enough acreage so the neighbors are far away enough to be forgotten. Good luck!
Sincerely,
Betina
1 vote Thank Flag Link Sat Aug 2, 2008
The neighborhood is going to have a lot to do with if this has an impact on your property values.
If your area is heavily populated this will not have any affect. If you are in an area where mose of the homes are water, greenbelt or golf lots and you have a gas station - well maybe. In some neighborhoods the gas station may well be a plus.

If you truly feel you were misled as to use, prehaps the Homeowners ,D.R.Horton and the Service Station owner can all get togeather ans share the cost of a higher attractive cement fence.

Lynn 911 is correct, it is too late to help you and your neighbors but it is not wise to buy ajacent to property with unknown future use. I deal in some Commericial Real Estate and Light Retail could cover a lot in my area. It just means the lot was too small for a Wal-Mart. At least you don't have a Tire Shop or Bar in the back yard.
0 votes Thank Flag Link Sat May 10, 2008
It would really depend on what part of town you are talking about. what neighborhood are talking about? it more than likely not really affect the value, but I will likely affect the marketablilty of those homes for future sales.
Web Reference: http://www.brianeddins.com
0 votes Thank Flag Link Wed May 7, 2008
Well, that would depend on a lot of issues. That is hard to say. It may not be as bad as you think, there are now a lot of neighborhoods with convenience stores close by that do not seem to be affected much. Was the property vacant land before? If so, do you know how it was zoned? Has it been vacant for years? What neighborhood do you live in? Is the station going to back up to your property? Would love to help!
Sheri Mitchell, Broker
Southern Exposure Realtors
http://www.SouthernExpsoureRealtors.com
512-413-5245
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0 votes Thank Flag Link Wed May 7, 2008
In response to Lynn 911.The DR Horton salesperson told us light retail maybe, but because of watershed issues they didn't think anything would get approved. They are supposedly putting up a 6 foot fence. Not nearly high enough to block visual or noise or idling car emmissions.
0 votes Thank Flag Link Wed May 7, 2008
That is unclear are they installing a retaining wall to protect the homeowners from commercial site. That is one reason I recommend for any my clients never purchase close to vacant property or to check with the zoning committee SORRY to hear what happened.
Web Reference: http://www.lynn911.com
0 votes Thank Flag Link Wed May 7, 2008
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