3,988,013
I used to live within a couple of miles of the mall and visited maybe once a year. I don't think it affects real estate values in our area.
If you want what they have you will drive to get it. Nobody wants ton see stores close down as it throws a wet blanket on the area's economy and creates worry.
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Susie Kay
Plano, TX
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John DL Arendsen
Leucadia, CA
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Lyn Sims
Schaumburg, IL
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Nina Hollander, Broker
Charlotte, NC
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Roy Kelley
Gaithersburg, MD
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Debe Maxwell, CRS
Charlotte, NC
991,852
We have a few malls in our area - I think by now most areas have at least one shopping mall
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Susie Kay
Plano, TX
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John DL Arendsen
Leucadia, CA
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Lyn Sims
Schaumburg, IL
-
Nina Hollander, Broker
Charlotte, NC
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Roy Kelley
Gaithersburg, MD
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Debe Maxwell, CRS
Charlotte, NC
4,584,571
The "mall concept" is definitely evolving and it's very location-specific. So many factors come into play.
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Susie Kay
Plano, TX
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John DL Arendsen
Leucadia, CA
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Lise Howe
Washington, DC
-
Nina Hollander, Broker
Charlotte, NC
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Roy Kelley
Gaithersburg, MD
1,712,876
We haven't had a mall closing in over 20 years and it would depend on the type of mall it is.
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Susie Kay
Plano, TX
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John DL Arendsen
Leucadia, CA
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Nina Hollander, Broker
Charlotte, NC
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Roy Kelley
Gaithersburg, MD
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Debe Maxwell, CRS
Charlotte, NC
5,063,430
I don't see the malls closing very soon, and I'm not sure about the impact on real estate values. Looking over a malls, or living next to one is not likely to be an advantage, but having one close by will be a plus for some.
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Susie Kay
Plano, TX
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John DL Arendsen
Leucadia, CA
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Nina Hollander, Broker
Charlotte, NC
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Roy Kelley
Gaithersburg, MD
1,466,257
John DL Arendsen The malls in my area are all in commercially zoned areas. They don't have much impact on residential sales. However, I would think if one closed down it might bring the commercial area down with it and would cause a ripple effect among the businesses that depend on the malls demographics. This would probably affect residential sales and values.
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Jeff Pearl
Lovettsville, VA
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Susie Kay
Plano, TX
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John DL Arendsen
Leucadia, CA
3,416,038
I am seeing stores that utilize web sales and in store sales flourish while those stores who dont, going out of business. In NH smaller malls have already gone under. With more empty stores than full ones, the wrecking ball has taken them down and new mixed use developments in their place. We do not have an abandoned malls, but do have newly abandoned factories where the jobs where all taken over seas.
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Scott Godzyk
Manchester, NH
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John DL Arendsen
Leucadia, CA
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Susie Kay
Plano, TX
2,224,473
We don't have any malls in my county. I don't know how this would affect real estate values.
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Susie Kay
Plano, TX
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Nina Hollander, Broker
Charlotte, NC
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Roy Kelley
Gaithersburg, MD
206,670
We had a large older mall close and get replaced with a Car Dealership. As for the mall being a driver on the local real estate I less likely to believe that now day with major anchors closing, such as Sports Authority, Some Best Buys and Bed Bath and Beyond to name a few in the South Florida market.
I think the bigger draw if for the tourist traveling into South Florida, shopping and taking back home. Malls near that Airport and Hotel seem to be doing the best.
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Susie Kay
Plano, TX
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John DL Arendsen
Leucadia, CA
-
Roy Kelley
Gaithersburg, MD
6,425,924
They tore our mall down recently, replaced it with a Tech College and a Call Center on the site.
We live in a changing world.
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Susie Kay
Plano, TX
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John DL Arendsen
Leucadia, CA
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Roy Kelley
Gaithersburg, MD
1,157,791
It depends on numerous factors.
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Susie Kay
Plano, TX
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Roy Kelley
Gaithersburg, MD
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Debe Maxwell, CRS
Charlotte, NC
5,258,956
They could improve - if the malls close, that RE will likely be sold and used for housing here as we are in need of land for more residential here in Charlotte! I don't see our malls closing for a very long time though!
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Susie Kay
Plano, TX
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John DL Arendsen
Leucadia, CA
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Roy Kelley
Gaithersburg, MD
509,449
I guess it depends on how close the mall is. I've seen homes backing up retails such as home depot etc stay on the market for quite sometime. The builder kept on reducing the price and at one point offered my buyer $30k less than the already reduced price. My buyer still walked away.
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John DL Arendsen
Leucadia, CA
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Susie Kay
Plano, TX
637,484
I've never had a buyer say they wanted to live near a mall. Maybe affordable housing for employees would be different. I did hear a listing agent tell a prospective buyer that she believed her listing would increase in value because there was talk of a possible mall expansion. I thought that was a very RISKY REMARK.
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John DL Arendsen
Leucadia, CA
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Susie Kay
Plano, TX
902,538
If it were to close and become a "blighted", unoccupied area for a long time, it might be an indication of lack of jobs and buying power in the area, which would impact real estate values.
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Susie Kay
Plano, TX
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John DL Arendsen
Leucadia, CA
5,773,367
John,
I agree with Debbie Reynolds
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Susie Kay
Plano, TX
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John DL Arendsen
Leucadia, CA
4,800,132
I would think that abandoned malls would have a negative effect until the properties are re-purposed.
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Susie Kay
Plano, TX
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John DL Arendsen
Leucadia, CA
2,785,606
Retail needs rooftops...Rooftops need income....Income needs jobs...
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Susie Kay
Plano, TX
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John DL Arendsen
Leucadia, CA
72,770
Not at all that it affects real estate values. But having a mall close to a neighborhood or to a certain community can influence home buyers towards a home purchase in that area. That is - convenience-wise!
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Susie Kay
Plano, TX
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John DL Arendsen
Leucadia, CA
1,617,916
People love to shop
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Susie Kay
Plano, TX
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John DL Arendsen
Leucadia, CA
5,246,545
A vacant or mostly vacant mall can have an effect on value. Most well placed malls are in no danger of closing in the forseeable future!
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Susie Kay
Plano, TX
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John DL Arendsen
Leucadia, CA
921,504
Too close is negative due to traffic during the holidays.
1 mile or more is positive for convenience.
Long term the trend is to redefines 'brick and mortor' to be experience locations that will keep them vital in the community.
Any mall constructed in 1970 is destined to become a community of 500 townhouses soon.
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Susie Kay
Plano, TX
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John DL Arendsen
Leucadia, CA
1,728,867
So many variables you pose here John. It depends on so many factors from noise, traffic, etc.
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Susie Kay
Plano, TX
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John DL Arendsen
Leucadia, CA
3,744,645
Across the street? Probably not a good thing. Otherwise, unless it attracts lots of congestion and traffic, it's not bad.
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Susie Kay
Plano, TX
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John DL Arendsen
Leucadia, CA
4,907,547
I would think it depends on the mall and the location.
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Susie Kay
Plano, TX
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John DL Arendsen
Leucadia, CA
3,071,589
Bricks and mortar is not on an upward trend here for retail
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Susie Kay
Plano, TX
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John DL Arendsen
Leucadia, CA
5,583,328
I've not seen a mall close in our area....never....
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Susie Kay
Plano, TX
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John DL Arendsen
Leucadia, CA
1,847,781
We get 1% revenue generation into the city coffers that pays for the police & fire depts. Taxes would increase obviously.
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Susie Kay
Plano, TX
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John DL Arendsen
Leucadia, CA
817,853
I would think it depends if its thriving or not
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Susie Kay
Plano, TX
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John DL Arendsen
Leucadia, CA
5,117,103
I haven't really given this much thought, as I don't believe malls in prime areas will be closing down.
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Susie Kay
Plano, TX
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Richard Weeks
Dallas, TX
7,871,475
Traffic issues can be a problem for some. On the other hand, home buyers want shopping convenience.
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Susie Kay
Plano, TX
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John DL Arendsen
Leucadia, CA
1,242,204
Probably not as important as major high tech employers nearby. Itself will create higher test score schools.
Shoping center creates traffiic congestion near by.
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Susie Kay
Plano, TX
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Debe Maxwell, CRS
Charlotte, NC
1,683,912
It depends on the Mall. We have a few that turned into a ghost town and were eventually torn down. That didn't help home values during that time.
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John DL Arendsen
Leucadia, CA
5,879,816
Most buyers want to be close to shopping, but outlet malls get lots of traffic at Christmas. It could affect values.
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John DL Arendsen
Leucadia, CA
1,507,073
I think retailers muddied their own waters by putting their black friday sales online too. I bought stuff from Gander Mountain on Thursday and the closes physical store is three states away!
I don't know if it's a decline in sales or an increase in the "shop local" and "boycott black friday" movements. I've seen a steady increase in posts about boycotting the stores over the last few years.
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John DL Arendsen
Leucadia, CA
914,198
I don't think so. I've heard Starbuck's and Trader Joe's being nearby help some.
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John DL Arendsen
Leucadia, CA
2,380,062
sometimes the malls are such old stock that it is good to close them down and rebuild them to suit new consumer demand - They are doing that with a big mall in ROckville - it is going to be more consumer friendly and integrated into the community with housing and businesses - so it is not some isolated building on a big road
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Susie Kay
Plano, TX
1,045,440
Depends on the mall and whether it just got there or been there for years... too close people may not like the congestion though.
3,986,308