Bloggers - Your opinion please - Pricing question.

Target is a great store and I think your homeowners will be glad to have it!  As long as the traffic pattern is planned out.(and your house doesn't back to the store) it should be a plus for the area.

When southlands was going up in my neck of the woods, everyone thought it would increase their value, and it didn't.  It may add convenience but I don't think it will ad value to a home, there is targets and wal marts everywhere.

Well now you have the things you need a little closer.......a variety of quality products at discount prices. Target will definitely not hurt your value so as long as your front door isn't facing the loading docks!

Hopefully, the commercial development is completely separated from the residential area and done attractively.  In which case, I would think proximity to some shopping would be desirable, and as others have mentioned, as long as the traffic is handled properly.  Let us know in about a year.

It will be interesting to hear what happens, it seems like it should help the area but it will also bring more traffic.

NIMBY (not in my back yard).  People like the stores they just do not want to live too close to them.  They draw traffic and noise.  But there are a lot of factors.

Fascinating discussion, especially as we have a new Target ... with road infrastructure in process so that is a little messy right now.

As ChuckO stated, companies like Target do studies of the local demographics prior to agreeing to build a store in any given area. Since your towns closest is over 10 miles away, I can see nothing but this store helping the housing market. People like to buy homes where they can continue to shop at places they like to shop. Target is one of those places! As long as the residential area is defined as a separate area of town and not out the front window, it should only help the residential prices.

Hopefully the planning has been done in such a way that it will not cause major traffic delays

I live in Arvada, and can see the Target at 80th and Wads out my bedroom window. The homes in closest proximity to Target have lower values. Unfortunately, the appraisals on homes further into the subdivision are affected by the lowered values of those homes.  So I think it lowers the value of the entire neighborhood. The only store I've seen buyers get excited about being near are Great Harvest, Vitamin Cottage, Whole Foods, and Sunshine Market.

Should help, except for any homes they may be directly adjacent to the commercial property.

I think it makes the overall area more desireable, however, in my area we have had 2 Super Walmarts open and the neighborhoods directly next to the stores seem to have gone downhill.  Teens are loitering, there is trash, graffiti and then there is always the traffic and noise.  I don't know if it is like that everywhere but that is my observation.

Yes, Target is a great store. I guess none of us want to live too close, but it sure comes in handy when you need to purchase a few items, rather than drive the extra 10 mile to the next nearest Target.   I would think it will make the area more desirable.  People love to shop and get a good bargain at Target.

Tere....You will be amazed with Target and how they treat their customers. Customer service is paramount. They will make you feel special and important. I give you a great example...My wife was at a Target store near our home in Winston Salem at Christmas. She was meet by friendly staff. May I help you? She was told what isle the items she was looking was on. The store was packed. When she went to checkout, all checkouts were staffed, and staff had walkie talkies to let know what line was the shortest. She was told her business was appreciated. Target is on the mark, your neighborhood will a welcome addition.

Have the residents spoken with the developer and/or Target regarding the look of the store, if that matters to them? Stores don't all look the same, our subdivision got a better looking bigbox because we demanded it.

Let the market determine your price Tere. It could go up, down, or stay the same. Let the comps tell you.

People here love it, now our Target remodeled and offers groceries.  What is so bad about a Target? They are the cleanest stores I know of.  Heck, our stupid Walmart has police patrols in the later hours of the evening.  Kids knocking down old ladies to steal their Pepto Bismol & socks.  Nonsense.

Tere,

I would think the difference is whether the new Target is part of a larger community revitalization effort. If so, I would expect it to help. If not, I don't think it would make much of a difference, except to those people who live directly next to the store.

I bought a house years ago down the road from a hotel that was being remodeled and a pedestrian overpass under construction. It turned out to be a great investment. Right now I own a house down the street from a newly constructed Target, and it has not helped home values. Of course this is a difficult time to expect a rise in values, so then again...

Tere:  Great question.  We will be prepared for the questions as well since we work on the west side of Highlands Ranch.  Take care - Carrie