Market Conditions in 91765>Question Details

David Wu, Home Buyer in Diamond Bar, CA

How will the new LA Stadium Affect Property values in the area?

Asked by David Wu, Diamond Bar, CA Sun Aug 24, 2008

I currently live in a gated community directly on the otherside of the freeway and opposite the proposed location for new development. My community is located on a hill and has great views but I am uncertain what this development would do for my property value. It is proposed to have included Office Space, Shopping and a movie theatre in addition to the stadium, all of which would be of walking distance if it gets approved.

I was under the impression that this would boost property value in this area. Your opinion is appreciated !

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Answers

4
David,

Interesting question and the answer can be found just down the road. We have the staple center that was built several years ago and the commerce around it has definitely increased. Then we have the Angels stadium which have in recent years shown signs of development. Will it affect your property values? Probably not significantly! We will see a spike in activity in the High End Market as Atheletes will come to towns along with other executives but the overall market and local economy should have slight growth over time. For some it will be great and for others the added traffic will drive them nuts and eventually out of town. Hope that helps.
0 votes Thank Flag Link Tue Nov 10, 2009
Hi David,

Would you be referring to Diamond Bar Tennis Club as the gated community you were curious about?
0 votes Thank Flag Link Thu Oct 29, 2009
Hi David:

I believe since it is on the other side of the freeway it should not lesson the value of your home.

In most areas if you are right next to a shopping area and such single family homes are many times effected to the negative. Usually what is also brought into the area are condo's and multi dwellings which also brings down the value. A lot will depend on your distance and how much traffic is brought into your neighborhood. If you are on a hill and really not right in arm length than it might bring your value up as indicated by the other agent. It all depends on how close.

Good Luck:
Diana Margala 909-945-5763
Web Reference: http://dianam.com
0 votes Thank Flag Link Sun Aug 24, 2008
In most instances YES it does boost property values, especially with today where gas is expensive families want to live close shopping, entertainment, either walking distance or short drive. New areas are considered to be "hip" where everyone wants to live.
GREAT QUESTION:
Web Reference: http://www.lynn911.com
0 votes Thank Flag Link Sun Aug 24, 2008
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