Will a Casino built in my town bring my house value down? (1 Viewer)

[AcerFC]

So, thanks to the voters of NY having their say, 4 new casinos will be allowed to open on non Indian reservations.

This has brought in tons of bids from the big casino guys.

It also looks like my town is the most attractive for various different reasons and two bids have been dropped because of what looks like apparent support for my county.

http://www.lohud.com/story/news/politics/politics-on-the-hudson/2014/06/05/catskills-casino-project-goes-bust-citing-competition-orange-county/10012905/

I like Casinos as much as the next guy, but Im wondering if this is good for me in the long run

Anyone have experience with this

http://www.recordonline.com/apps/pbcs.dll/article?AID=/20140613/NEWS/406130347/-1/NEWS12

 

[jon_mx]

So, thanks to the voters of NY having their say, 4 new casinos will be allowed to open on non Indian reservations.

This has brought in tons of bids from the big casino guys.

It also looks like my town is the most attractive for various different reasons and two bids have been dropped because of what looks like apparent support for my county.

http://www.lohud.com/story/news/politics/politics-on-the-hudson/2014/06/05/catskills-casino-project-goes-bust-citing-competition-orange-county/10012905/

I like Casinos as much as the next guy, but Im wondering if this is good for me in the long run

Anyone have experience with this

http://www.recordonline.com/apps/pbcs.dll/article?AID=/20140613/NEWS/406130347/-1/NEWS12

Only if you stay away.

 

[AcerFC]

So, thanks to the voters of NY having their say, 4 new casinos will be allowed to open on non Indian reservations.

This has brought in tons of bids from the big casino guys.

It also looks like my town is the most attractive for various different reasons and two bids have been dropped because of what looks like apparent support for my county.

http://www.lohud.com/story/news/politics/politics-on-the-hudson/2014/06/05/catskills-casino-project-goes-bust-citing-competition-orange-county/10012905/

I like Casinos as much as the next guy, but Im wondering if this is good for me in the long run

Anyone have experience with this

http://www.recordonline.com/apps/pbcs.dll/article?AID=/20140613/NEWS/406130347/-1/NEWS12

Only if you stay away.

I have an addictive personality. I know not to get too involved. But the occasional poker tournament wont hurt.

But Im really just interested in my house. I love my house and dont want to move, BUT I also dont want to get screwed

 

[cheese]

It probably helps you via the school systems. Our casino (and IIRC most casinos) give an unreal amount of money to the local school system as part of their arrangement with coming into that area. This can help you via decrease in taxes/levys and obviously if you have kids they will like constantly having new facilities for everything. Even if you don't, it can increase home value because of others wanting to live in the school district.

 

[AcerFC]

It probably helps you via the school systems. Our casino (and IIRC most casinos) give an unreal amount of money to the local school system as part of their arrangement with coming into that area. This can help you via decrease in taxes/levys and obviously if you have kids they will like constantly having new facilities for everything. Even if you don't, it can increase home value because of others wanting to live in the school district.

Thanks Cheese. This is what I was looking for. Could have probably researched it a bit but its easier to ask here sometimes.

 

[KCitons]

Is the casino being built across the street from your house?

 

[belljr]

It probably helps you via the school systems. Our casino (and IIRC most casinos) give an unreal amount of money to the local school system as part of their arrangement with coming into that area. This can help you via decrease in taxes/levys and obviously if you have kids they will like constantly having new facilities for everything. Even if you don't, it can increase home value because of others wanting to live in the school district.

AC disagrees

 

[AcerFC]

Is the casino being built across the street from your house?

No, not directly. 5 minute drive

 

[worrierking]

My metro area (Lake Charles, LA) has two casinos and another massive one under construction. There has been no detectable loss of property value here related to the casinos. Home values have risen steadily since they arrived in the mid 90s.

I can't speak for your specific circumstance, but it has not had a negative impact here at all.

 

[AcerFC]

It probably helps you via the school systems. Our casino (and IIRC most casinos) give an unreal amount of money to the local school system as part of their arrangement with coming into that area. This can help you via decrease in taxes/levys and obviously if you have kids they will like constantly having new facilities for everything. Even if you don't, it can increase home value because of others wanting to live in the school district.

AC disagrees

Was AC doing well before the casinos

 

[cheese]

It probably helps you via the school systems. Our casino (and IIRC most casinos) give an unreal amount of money to the local school system as part of their arrangement with coming into that area. This can help you via decrease in taxes/levys and obviously if you have kids they will like constantly having new facilities for everything. Even if you don't, it can increase home value because of others wanting to live in the school district.

Thanks Cheese. This is what I was looking for. Could have probably researched it a bit but its easier to ask here sometimes.

No problem. I'm sure there are exceptions, but that has been my experience. For us the biggest drawback is the increase in traffic. There is also some concern about drunk driving

 

[AcerFC]

It probably helps you via the school systems. Our casino (and IIRC most casinos) give an unreal amount of money to the local school system as part of their arrangement with coming into that area. This can help you via decrease in taxes/levys and obviously if you have kids they will like constantly having new facilities for everything. Even if you don't, it can increase home value because of others wanting to live in the school district.

Thanks Cheese. This is what I was looking for. Could have probably researched it a bit but its easier to ask here sometimes.

No problem. I'm sure there are exceptions, but that has been my experience. For us the biggest drawback is the increase in traffic. There is also some concern about drunk driving

Traffic is already brutal because we have an outlet center that apparently is world renowned and a hot spot for every Chinese tourist that comes to NY. This will make it worse, but luckily, I have back roads I can take and avoid it for the most part

 

[belljr]

It probably helps you via the school systems. Our casino (and IIRC most casinos) give an unreal amount of money to the local school system as part of their arrangement with coming into that area. This can help you via decrease in taxes/levys and obviously if you have kids they will like constantly having new facilities for everything. Even if you don't, it can increase home value because of others wanting to live in the school district.

AC disagrees

Was AC doing well before the casinos

no but the promise to pump money back into the community is a sore subject with many residents. Lots of lies and corruption

 

[Snotbubbles]

I live in Philadelphia. Right down the street from me they built the Sugarhouse Casino about 5 years ago. My property is worth more today then when I bought it in 2006. The Casino didn't have an effect on the property value. We haven't noticed any uptick in crime levels either. The Casino also gives an unreal amount of money toward local programs. Basically, as an organization, you ask them for money, they donate it. They have been doing a lot of road construction to make sure that Casino traffic isn't seen on the local streets. It also brought a ton of jobs and most of the local residents have first dibs when they hire. I will say, 1st of the month is a busy time as people get their government checks and head to the Casino.

 

[belljr]

I live in Philadelphia. Right down the street from me they built the Sugarhouse Casino about 5 years ago. My property is worth more today then when I bought it in 2006. The Casino didn't have an effect on the property value. We haven't noticed any uptick in crime levels either. The Casino also gives an unreal amount of money toward local programs. Basically, as an organization, you ask them for money, they donate it. They have been doing a lot of road construction to make sure that Casino traffic isn't seen on the local streets. It also brought a ton of jobs and most of the local residents have first dibs when they hire. I will say, 1st of the month is a busy time as people get their government checks and head to the Casino.

i met my wife at Maui. :(

 

[jwb]

Probably not - might even increase it. You're in MW area, right? You got 17 / 87 / Woodbury Common... just a hotbed of activity, and proximity to NYC keeps you pretty safe value-wise (I know the area well - my first gf lived there, and I grew up outside of Middletown. Live in Kingston now - about 1 mile from the old IBM complex, and I'm somewhat concerned that will turn into something bad.)

 

[AcerFC]

Probably not - might even increase it. You're in MW area, right? You got 17 / 87 / Woodbury Common... just a hotbed of activity, and proximity to NYC keeps you pretty safe value-wise (I know the area well - my first gf lived there, and I grew up outside of Middletown. Live in Kingston now - about 1 mile from the old IBM complex, and I'm somewhat concerned that will turn into something bad.)

Yes, MW. Hope nothing bad happens in your area.

 

[Arizona Ron]

In 2014, no. They're everywhere now.

 

[Snotbubbles]

I live in Philadelphia. Right down the street from me they built the Sugarhouse Casino about 5 years ago. My property is worth more today then when I bought it in 2006. The Casino didn't have an effect on the property value. We haven't noticed any uptick in crime levels either. The Casino also gives an unreal amount of money toward local programs. Basically, as an organization, you ask them for money, they donate it. They have been doing a lot of road construction to make sure that Casino traffic isn't seen on the local streets. It also brought a ton of jobs and most of the local residents have first dibs when they hire. I will say, 1st of the month is a busy time as people get their government checks and head to the Casino.

i met my wife at Maui. :(

I worked at Maui. LOL!

 

[belljr]

I live in Philadelphia. Right down the street from me they built the Sugarhouse Casino about 5 years ago. My property is worth more today then when I bought it in 2006. The Casino didn't have an effect on the property value. We haven't noticed any uptick in crime levels either. The Casino also gives an unreal amount of money toward local programs. Basically, as an organization, you ask them for money, they donate it. They have been doing a lot of road construction to make sure that Casino traffic isn't seen on the local streets. It also brought a ton of jobs and most of the local residents have first dibs when they hire. I will say, 1st of the month is a busy time as people get their government checks and head to the Casino.

i met my wife at Maui. :(

I worked at Maui. LOL!

Saturdays were the ####. Liquor ed up on penny drinks from 8 to 10. Catch the band out back...head to the instant replay room late.then they screwed it up with that martini bar then the under age club...

 

[Billy Bats]

I live in Philadelphia. Right down the street from me they built the Sugarhouse Casino about 5 years ago. My property is worth more today then when I bought it in 2006. The Casino didn't have an effect on the property value. We haven't noticed any uptick in crime levels either. The Casino also gives an unreal amount of money toward local programs. Basically, as an organization, you ask them for money, they donate it. They have been doing a lot of road construction to make sure that Casino traffic isn't seen on the local streets. It also brought a ton of jobs and most of the local residents have first dibs when they hire. I will say, 1st of the month is a busy time as people get their government checks and head to the Casino.

i met my wife at Maui. :(

I worked at Maui. LOL!

I drank heavily at Maui!

 

[Sand]

So, thanks to the voters of NY having their say, 4 new casinos will be allowed to open on non Indian reservations.

This has brought in tons of bids from the big casino guys.

It also looks like my town is the most attractive for various different reasons and two bids have been dropped because of what looks like apparent support for my county.

http://www.lohud.com/story/news/politics/politics-on-the-hudson/2014/06/05/catskills-casino-project-goes-bust-citing-competition-orange-county/10012905/

I like Casinos as much as the next guy, but Im wondering if this is good for me in the long run

Anyone have experience with this

http://www.recordonline.com/apps/pbcs.dll/article?AID=/20140613/NEWS/406130347/-1/NEWS12

So where in Orange county? I have family in Garrison.

 

[Snotbubbles]

I live in Philadelphia. Right down the street from me they built the Sugarhouse Casino about 5 years ago. My property is worth more today then when I bought it in 2006. The Casino didn't have an effect on the property value. We haven't noticed any uptick in crime levels either. The Casino also gives an unreal amount of money toward local programs. Basically, as an organization, you ask them for money, they donate it. They have been doing a lot of road construction to make sure that Casino traffic isn't seen on the local streets. It also brought a ton of jobs and most of the local residents have first dibs when they hire. I will say, 1st of the month is a busy time as people get their government checks and head to the Casino.

i met my wife at Maui. :(

I worked at Maui. LOL!

Saturdays were the ####. Liquor ed up on penny drinks from 8 to 10. Catch the band out back...head to the instant replay room late.then they screwed it up with that martini bar then the under age club...

We had to charge a penny because there was a State law that said you couldn't give drinks away for free. I remember all the bars being filled with pennies. Our record for most beer drank in one night was 55 kegs. I left there and went to Deco.

 

[AcerFC]

So, thanks to the voters of NY having their say, 4 new casinos will be allowed to open on non Indian reservations.

This has brought in tons of bids from the big casino guys.

It also looks like my town is the most attractive for various different reasons and two bids have been dropped because of what looks like apparent support for my county.

http://www.lohud.com/story/news/politics/politics-on-the-hudson/2014/06/05/catskills-casino-project-goes-bust-citing-competition-orange-county/10012905/

I like Casinos as much as the next guy, but Im wondering if this is good for me in the long run

Anyone have experience with this

http://www.recordonline.com/apps/pbcs.dll/article?AID=/20140613/NEWS/406130347/-1/NEWS12

So where in Orange county? I have family in Garrison.

I think Garrison is in Putnam. I live in Highland Mills, 5 minutes from the Woodbury Commons

 

[Politician Spock]

In 2014, no. They're everywhere now.

This.

In this day and age the effect is like building a multiplex movie theater. When casinos were rare, they could have big positive and negative impacts. Now that they are everywhere they are as meaningless to home values as a Five Guys.

 

[belljr]

I live in Philadelphia. Right down the street from me they built the Sugarhouse Casino about 5 years ago. My property is worth more today then when I bought it in 2006. The Casino didn't have an effect on the property value. We haven't noticed any uptick in crime levels either. The Casino also gives an unreal amount of money toward local programs. Basically, as an organization, you ask them for money, they donate it. They have been doing a lot of road construction to make sure that Casino traffic isn't seen on the local streets. It also brought a ton of jobs and most of the local residents have first dibs when they hire. I will say, 1st of the month is a busy time as people get their government checks and head to the Casino.

i met my wife at Maui. :(

I worked at Maui. LOL!

Saturdays were the ####. Liquor ed up on penny drinks from 8 to 10. Catch the band out back...head to the instant replay room late.then they screwed it up with that martini bar then the under age club...

We had to charge a penny because there was a State law that said you couldn't give drinks away for free. I remember all the bars being filled with pennies. Our record for most beer drank in one night was 55 kegs. I left there and went to Deco.

yeah I remember ...Thursdays was 8 dollar cover and the DJ was "paying for drinks".many good times there...many should not have drove there. Great memories before it went down hill

 

[avoiding injuries]

Casinos are a few years new to Maryland and lots of promises were made for profits to go to the schools. About a month ago a report came out showing the schools hadn't received anything.

In one spot that the put a casino, I'm not sure about he home values, but the congestion and crime in that area definitely went up. I avoid going near it.

 

[humpback]

Casinos are a few years new to Maryland and lots of promises were made for profits to go to the schools. About a month ago a report came out showing the schools hadn't received anything.

In one spot that the put a casino, I'm not sure about he home values, but the congestion and crime in that area definitely went up. I avoid going near it.

Link? I'm assuming that's because politicians simply replaced the money they were taking from the general fund for education with the casino revenues.

 

[James Daulton]

Casinos are a few years new to Maryland and lots of promises were made for profits to go to the schools. About a month ago a report came out showing the schools hadn't received anything.

In one spot that the put a casino, I'm not sure about he home values, but the congestion and crime in that area definitely went up. I avoid going near it.

I'm in Maryland too and wasn't aware of the above. What is reported monthly is the amount of $$'s the casinos generated for the state. For 2013:

Maryland’s four casinos generated nearly $750 million in total gambling revenue. About $415 million was collected in taxes, including $315 million that went to the Education Trust Fund.

Where's that $$ going I wonder?

 

[Notorious T.R.E.]

Is the casino being built across the street from your house?

They're actually building around his house like the pentagon.

 

[AcerFC]

Is the casino being built across the street from your house?

They're actually building around his house like the pentagon.

that would be awesome as long as it didnt bring my house value down