Hello everyone.

This question is actually to all of real estate professionals who have experienced this type of scenario or know anything about it.

I live in suburbs of Philadelphia and right now, Donald Trump is planning to build the first ever casino in the city of Philadelphia. The casino would be located in a residential area of Fishtown. It's a very old neighborhood with lots of rowhouses and multi-unit apartment buildings.

Here's my question. Once the casino is built, what happens to real estate prices in that area? Do they go down, do they go up or will they stay the same? Also, what about the rent prices? I would think that someone who works at the casino, would want to live near by and that would increase the rent prices in that area. I might be wrong, but I've never heard anyone discuss this topic before.

I'm looking forward to hearing everyone's honest and professional opinion.

Thanks in advance.

__________________
Russell Volk, REALTOR®
Mid-Atlantic Real Estate
Feasterville, PA
Bucks County Real Estate | Newtown, PA Real Estate | Doylestown, PA Real Estate.

We have had a few casinos go in around the Chicagoland area and all of the areas have seen price increases. The cities that used the extra revenue in ways to help the city (new infrastructure) have seen the biggest price increases. It does add a lot of jobs to the area, and not just the casino jobs. Jobs normally are the largest factor to increasing home prices.

__________________
The Suburban House Hunters Team would like to thank REW members for past referrals! We are never to busy to handle your Chicago area referrals.

Always looking for quality unique content for our real estate agent blog, PM me if interested in writing a post.

My thoughts on the Sarasota Association of REALTORS actions.

i hear casino talk a few times a year in the central florida area. still no casinos in the area, but i would think home prices would increase.

__________________
View Port Orange Homes
Daytona Beach Condos For Sale
Daytona Beach Real Estate

I want casions in texas, Maybe we can lower the property taxes, In Fort worth property taxes are 3.2 for every 100 dollars

__________________
Looking for Real Estate, Investments, Condos in Dallas-Fort Worth-Denton-Keller-Haslet-North Texas Area. We have you covered, 400 New Homes and 60,000 Pre-owned home. Mike Pannell 817-703-3238
Dallas Real Estate | Fort Worth Texas Real Estate | Dallas Texas Real Estate

BTW for all you COWBOY Haters. Superbowl Bound Baby. Sorry Deadskins

You'll see the price increases after the casino deal has been signed and ground is broken for construction.

Far too speculative for prices to change on ongoing rumors and maybe's.

__________________
Localized SEO
Real Estate Directory New directory just added to PR4 site.

i would bet that the property values will increase. if donald is building, then property values will go up.

__________________
downtown san diego real estate
Freelance Programmer
downtown san diego condos

Thank you all for your feedback. That's what I thought about prices going up.

What about the property rents? I guess if the property price goes up, so should the rent price. Right?

Thanks again.

__________________
Russell Volk, REALTOR®
Mid-Atlantic Real Estate
Feasterville, PA
Bucks County Real Estate | Newtown, PA Real Estate | Doylestown, PA Real Estate.

Actually, I just found this article that explains how new casinos will negatively impact areas real estate.

http://www + hallwatch + org/news/1144090250804

Just wanted to share it with you guys.

__________________
Russell Volk, REALTOR®
Mid-Atlantic Real Estate
Feasterville, PA
Bucks County Real Estate | Newtown, PA Real Estate | Doylestown, PA Real Estate.

I hate to go against popular opinion, but there's a new Casino being built in Calgary by the First Nations (Calgary already has a half-dozen casinos). This casino is on First Nations land immediately across the street from an upscale neighbourhood in the SW (Lakeview).

Once the plans were announced and the signs went up, the value of homes immediately adjacent to the development plummeted. Who on earth would want to live across the street from a commercial development that attracts gamblers (and of course offers liquor service)?

__________________
Calgary Real Estate
Sarasota MLS
Calgary Luxury Real Estate