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school being built

Posted by gcastro on May 20, 2003 at 10:35 PM

Hi Ward, my mother owns a 4 Bed 3 Bath home in the area of San Juan Capistrano, CA. The home has a very nice view (1 mile from the ocean), however rumor has it that a construction company will built a school on the empty field right down the street.

Question: In your experience, do homes have a tendency to go up or down in areas where a school is built? Should she sell now before the school is built, or is it not a big deal?

She is worried that the increase in traffic, and noise will bring down home prices in that area. In the other hand, she things that the price of the home might increase a bit, since couples that have kids will want to live close to their childrens school. What do you think?


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