Comments on: Is Buying Property Near a Casino a Good Bet?

By: Baggins

Baggins — Wed, 16 Jun 2021 01:19:54 +0000

In Central City / Blackhawk casino areas in Colorado mountain terrain, there are interesting changes which came along with casinos. The old ghost towns were revitalized, what had sat empty for decades was rejuvinated in short order. And then the corporations maximized land space and cut into the solid stone mountains to eliminate extreme sloping and and carve out miracle of engineering parking lots. There are several sad old tiny home whos front chain link fences used to simply front to a local road or hilly space. But now those same homes fronts to the very inch of the casino property line, to a 200 ft solid granite cliff drop off. Roads changed. Highway development occurred. Landscapes were altered. Eminent domain was used in some cases. Land values had no cohesion from previous times. Mineral rights were suddenly premium considerations. Casino influence is a market force to itself, it changes all the value types for everyone in the area, somehow and in some way. Some for the better, others for the worse. There is simply nothing else quite like the influence of a casino.

By: don

don — Thu, 10 Jun 2021 20:52:01 +0000

In reply to Maryland Appraisal.

I had a friend who lived close to the casinos, Her neighbor, over the fence was the CHIEF, one of the privileged many who lived on the reservation.

By: Maryland Appraisal

Maryland Appraisal — Thu, 10 Jun 2021 19:52:59 +0000

The initial response from market participants is that casinos adversely impact residential property values. The Live Casino in Hanover, Maryland and the MGM Casino in National Harbor, Maryland are two prime examples of this initial negative market response. Almost ten year since completion of the Live Casino and 3 years since completion of the MGM Casino there is no measurable negative impact related to the proximity of residential housing. In both cases these areas have developed into central hubs for small business, hotels and retail shops. As business diversity grows so do opportunities for employment, which leads to increased demand for residential housing.

By: Bill Johnson

Bill Johnson — Thu, 10 Jun 2021 16:56:23 +0000

As my county of practice (San Diego) has 9 casinos, what you are describing sounds like a typical Friday (more like a Sat. morning drive). A good rule of thumb, is that when you work those areas and take a visit, never come back with less than 50% of appraisal fee.

Seek the truth.