Do Big Box Stores have a Negative or Positive effect on Real Estate Values?

By
Real Estate Agent with Mason Real Estate CA BRE 01444168

The Hemet - San Jacinto. CA Valley has something going for it that most people don't easily recognize or understand why it has happened.  We are a sleepy valley off the beaten path of Southern California - the closest freeway on ramp is about 15 miles - and that is hard to find in SoCal!  Our population - for the entire valley is maybe 100,000 - not a big slice considering the millions who live in the Southland.  We certainly are nor a rich or exclusive community - the average home sell for about $130,000 - far less than most other areas of California.

So then why...why does WalMart have not one but two Super WalMarts in our valley...one in Hemet and the other about 5 miles away in San Jacinto?  OK, they both went up while the housing boom was going strong...so what did they know?  What prompted them to invest the type of money they did into our little community?

Then there is the question that begs to be answered...what was the benefit of these two mega department and grocery store combos?  Has it been good for the local economy or a drain?  What type of ripple effect does Super Walmart have ... not only in the local community but across the State of California and the rest of the country.

AM I CONFUSED?

Now I don't know why I think what I did, but I thought when WalMart first came on the scene that they had this streak of red, white and blue running through their corporate veins and only sold American made products.  I cold be wrong but I think I can remember human interest news stories about small companies that exploded with a WalMart contract.  Maybe I'm confused...

I don't do a lot of shopping at WalMart - but they are the only store that carries multiple-flavors of Ensure - a diet supplement that has kept my wife alive as her primary source of nutrition for a couple of years now (my wife, Sherri, is a long term cancer patient).  While I was there, I walked the aisles...I was amazed that everything is made in China.  Now I don't know for certain, it's not like I went down aisle after isle looking at every product - but every product I picked up and looked at was made in China...

So, does anyone have any idea as to what happened...maybe the anser is in this short video...



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Until Next Time, Have a Blessed Day,

John Occhi, ePRO, REALTOR®
DRE Lic No: 01444168


ePro,John Occhi,www.johnocchi.com,realtor      Certified Probate Real Estate Specialist Logo Awarded to John OcchiFive Star Logo,Certification,REO,Five Star Institute     

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This blog and the contents written here is the intellectual property of John Occhi, Temecula - Murrieta, CA REALTOR® in the South West Riverside County region of the Inland Empire of Southern California.  The views and opinions expressed are just that - views and opinions of John Occhi and those who comment.  Please note that I am not an attorney or a tax professional and any time I discuss either topic, I suggest you consult with the proper professional for relevant assistance. 


I am proud to be a full time REALTOR® who is proud to be a contributing member of the ActiveRain community.

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Rainer
142,881
Karen Luke
South Metro Property Management, LLC - McDonough, GA
Henry County Real Estate

No lie. Wal-Mart was on my errands list today. NOT now. Not now that you've reminded me what they are about.

Nov 12, 2009 11:32 PM #1
Rainmaker
1,195,375
Barbara Michaluk
Weichert Realtors | Silver Spring, MD Phone Direct 240-506-2434 - Silver Spring, MD
Leisure World Specialist / Full Service REALTOR

John, this is an interesting observation and study in whether big stores are actually benefiting our local economies.  I guess this is why Wal-mart has been resisted when communities hear they plan to build.

Nov 12, 2009 11:33 PM #2
Ambassador
921,006
Missy Caulk
Missy Caulk TEAM - Ann Arbor, MI
Savvy Realtor - Ann Arbor Real Estate

John, we finally got a Walmart in our area. It was fought, disputed and finally won...years later. It is so close to my house, I am there all the time to get milk for $175.00 instead of 3.50.

I also like their homemade bisquits.

 

Nov 12, 2009 11:40 PM #3
Rainer
73,921
An Marshall
Berkshire Hathaway - St. Augustine - Saint Augustine, FL
Your St Augustine Real Estate Consultant

I don't care for Walmart - to me it is a cold, sterile environment.  Interesting questions.  One would think that with demographic studies and all, that they would have had great expectation for your area in terms of new residential growth.

Nov 12, 2009 11:47 PM #4
Rainmaker
565,035
Steve, Joel & Steve A. Chain
Chain Real Estate Investments & Mortgage, Steve & Joel Chain - Cottonwood, CA

John, I read somewhere that 85% of america shops at Wal-Mart at least once a year.  Most communites seem to have a love-hate relationship with the Big-Box variety of store. 

Nov 13, 2009 12:35 AM #5
Ambassador
1,514,247
Renée Donohue~Home Photography
Savvy Home Pix - Allegan, MI
Western Michigan Real Estate Photographer

The whole outside of American goods bothers me (along with services too.)  It is hard but I prefer not to do business with Big Box.  There are SO many small sellers on ebay, craft shows, online retailers that hand make American goods.  We even have a local farmers market that I LOVE to grocery shop at.  I buy essentials at Costco (yea yea same thing.)

With the economy the way it is, I go way out of my way to buy American (although sometimes it is hard.)  We drive three Fords.  I am an accomplished seamstress (didja know that?)  I buy vintage materials (that WERE made in the US once upon a time) and make handmade quilts for baby gifts.  My dogs collars are even hand made by me, myself and I.  I have a ratty old comforter because I am almost done making a quilt that I have been making for two years and REFUSE to go to big box to buy a new one!

We need to get back to the basics of reduce, reuse, refurbish and recycle...........and keep our money IN THE US!

Nov 13, 2009 01:30 PM #6
Rainmaker
312,455
John Occhi
Mason Real Estate - Temecula, CA
SRES,CPRES.ePRO - Temecula-Murrieta CA Real Estate

Karen, sorry to ruin your day...

Nov 13, 2009 01:54 PM #7
Rainmaker
312,455
John Occhi
Mason Real Estate - Temecula, CA
SRES,CPRES.ePRO - Temecula-Murrieta CA Real Estate

Barbara,

I know we have lost more than a handful of local businesses since thye both opened up.  It was one thinkg to have a regular WalMart, a Target, and even a Kmart - but now we have the 2 Supers - and they are monster stores...

Nov 13, 2009 01:55 PM #8
Rainmaker
312,455
John Occhi
Mason Real Estate - Temecula, CA
SRES,CPRES.ePRO - Temecula-Murrieta CA Real Estate

Missy,

You are right the prices are right...now I'm guessing the milk never crossed state lines but you know where most of it comes from.  So what are we to do.  I don't want to sound all moral and such, but the answer has to be what is best for my community is best for me...otherwise how do we deal with any situation if it is all about me and not society.

Just asking, but is this part of our sense of entitlement? 

I just wish I asked more questions when I was younger - I don't know why all of a sudden I have to question everything.  It was so much easier to go along for the ride...

John

Nov 13, 2009 01:58 PM #9
Rainmaker
312,455
John Occhi
Mason Real Estate - Temecula, CA
SRES,CPRES.ePRO - Temecula-Murrieta CA Real Estate

An, thanks...and yes, they obviously figured something out - it's like Home Depot showing up before the first new homes are finished in an area.

John

Nov 13, 2009 02:00 PM #10
Rainmaker
312,455
John Occhi
Mason Real Estate - Temecula, CA
SRES,CPRES.ePRO - Temecula-Murrieta CA Real Estate

Chain...what is wrong with the other 85% - maybe they are too far away?

Love Hate - that is true, I'm sure

John

Nov 13, 2009 02:01 PM #11
Rainmaker
312,455
John Occhi
Mason Real Estate - Temecula, CA
SRES,CPRES.ePRO - Temecula-Murrieta CA Real Estate

Renee,

Wow, learning more about you all the time...Hats off for your efforts.  I too am a FORD MAN.  I drive a F250 and just lost my Mercury when I was in an accident in July and have not yet replaced it. 

We really do need to focus on what is best for our society - and not the members of society.  We have to stop the entitlement process and get back to making this country work.  Can you imagine a WW2 situation where we had rationing and such...it would be so difficult to pull off today.

John

Nov 13, 2009 02:04 PM #12
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