Can Target or Walmart impact your home's value?

Posted at 6:08 PM, Mar 10, 2016
and last updated 2016-03-10 21:34:51-05

A recent examination of home appreciation across the country revealed living near a Target store would raise the value of your home faster than living next to a Walmart., in a study released this week, said homes near Target appreciated 27 percent in 2015 from the time they were bought. In comparison, the study showed homes near Walmart only appreciated 16 percent.

The study said the national average was 22 percent.

"My first reaction was I wasn't surprised," said real estate broker Peter Carlseen.

"It didn't surprise me knowing the stereotype," said Southwest Equity Mortgage owner Eddie Cox.

"But there's more to it than is Target or Walmart that's really causing that," Carlseen added.

Cox agreed, "I don't think people should base their home-buying decisions based on whether there is a Target or Walmart nearby."

Both said buyers need to take into account a lot more than superstores.

"You have homeowners association fees, you have Mello Roos fees. Density, proximity to schools," said Carlseen.