Where questions trump all

MIDDLEBOROUGH - Local real estate broker Debbie Blais had a prospective buyer lined up for a $700,000 new home on Meadowbrooke Lane, a pricey subdivision that may one day lie in the shadow of a $1 billion, 30-story casino the Mashpee Wampanoags want to build in this rural town.

But when news of the casino broke this summer, the buyer immediately cooled to the area.

"I lost the sale. The owner didn't want any part of it because of the casino," said Blais, owner of Debbie Blais Real Estate. "I sold him a home in Mattapoisett."

This is but one example of the effect the proposed casino is having on the local real estate market in Middleborough, a farming town in southeastern Massachusetts. This has been the kind of a community that appealed to buyers looking to live in the country, with plenty of room for a backyard garden and even a horse or two.

Now brokers, buyers, and sellers are all trying to assess the impact such a casino would have on this small town.

Governor Deval Patrick has since announced plans for three commercial casinos around the state, adding another twist to the question whether the Wampanoags' proposal for Middleborough will come to fruition.

Blais, for one, believes that a casino would most likely affect those homes closest to the 500-acre casino site on Precinct Street. Otherwise, she does not think home values elsewhere in town would be significantly affected. To date, home prices have followed the same pattern as those in other areas south of Boston as the markets slows - dropping about 7.5 percent.

Middleborough's assessor Barbara Erikson suggests that any impact the casino may have on home values will be temporary. "From correspondence I had with the Connecticut towns that host casinos, values go down the first year, but then they go back up," Erikson said.

And so far, buyers remain interested in this rural town. None of Blais's nine full-time brokers have noticed the casino proposal affecting sales in most areas of the town.

"I think the only time it's going to matter will be for people who abut the site or will have a visual of the casino," Blais said.

Richard and Judy Gibbs put their stately home, along with 19 acres of fields and woods on Thompson Street, up for sale about three months ago. Though the casino would be built in a wooded area behind their fields, it was not the casino that prompted the move, although both are casino opponents. The couple said it was simply a matter of switching to something more accommodating as they get older.

Judy Gibbs said it is too early to tell whether the proximity of their property to the targeted casino site will affect the price they get for the house, either positively or negatively, but she's bracing herself nonetheless.

"I think it will hurt," she said. "I wish we had put the house on the market a year ago, when we were talking about moving. Right now, my backyard is a beautiful field. I'm afraid you're going to be able to see the casino from there."

And once they do sell, they don't intend to remain in Middleborough, where they have lived their entire lives, with 30 years on Thompson Street. "We're looking towards Marion," Judy Gibbs said.

Broker Kyle Belken said many homeowners in town are expressing concern about their values. "I've had a lot of calls from homeowners who want to know where they stand now," Belkin said. "They want to get an opinion of value so they can know where they are in the market."

Some property owners may benefit from being near the casino-resort complex, since it will also offer several amenities.

"Right now, you don't know," Blais said. "You could be living next to the golf course." Revenue from the casino operation could also be used to improve town services and produce top-notch public benefits, including schools, and distinguish Middleborough from other communities struggling to maintain local services.

Eli and Betsy Rowan, who currently live on a heavily traveled road in south Plymouth, recently checked out a house in Dona Estates, a quiet subdivision not far from Middleborough's center. They don't want to live in the shadow of a casino, but Eli Rowan noted having one in town could offer some advantages.

"Hopefully, we'd have lower real estate taxes," he said. Betsy Rowan said she worried about drunk drivers making local roads dangerous. "I'd prefer it didn't come," she said.

Catherine Peck, the broker who showed the house to the Rowans, said prospective buyers continue to show interest in Middleborough. "It's certainly an issue, but most people know about it and are still looking," Peck said. "This is a beautiful area."

Other brokers report that casino-related questions have died down since the summer.

Even initial interest shown by speculators has cooled. "I got a call from an investor a while ago who was looking to buy land, but that didn't go anywhere," said broker Marybeth Richardson. "I think right now the people that own homes in Middleborough are more nervous about the impact of a casino than the people moving in."

Owners of residential rental properties in Middleborough are looking forward to a local casino, believing the influx of casino employees will result in an increase in demand for apartments and allow them to charge higher monthly rates. And if the multifamily owners decide to sell, they can expect to make a nice profit.

Christine Wallgren can be reached at CLWallgren@aol.com