Cowboys Stadium: Cash Cow for Homeowners?

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Who says that living near a major sports stadium will hurt property values and ruin your quality of life? Residents living near the new $1.2 billion Cowboys Stadium in Arlington, Texas -- locals have dubbed it "Jerry's World" after the free-spending Cowboy's billionaire owner, Jerry Jones -- may soon be cashing in by renting out their homes to fans.

A Phoenix-based online company now specializes in hooking up fans with homeowners who live near stadiums for short-term rentals. The site, sportseventsrentals.com, has listings for 315 sporting events in more than 150 cities.
But this is nothing new to star agent Jamie Adams, who has offices at The Ballpark in Arlington and a bevy of sports heroes as clients, including Daryl Johnston, Nolan Ryan, Avery Johnson, Dirk Nowitzski, Rick Carlisle, Shawn Marion, Tim Thomas, Matt Carroll, Sergei Zubov and Michael Alford. Jaime says he's received three calls in the last 30 days from people who either want to list their chez Cowboys Stadium home for sale, or lease it to fans. Going rate: $500 to $7500 per night, the latter giving you access to an 8,000-square-foot manse.

"This is only going to heat up the closer we get to Super Bowl XLV (in 2011)," says Jamie. "Especially since the local hotels book up so fast."

Does Jamie think that Cowboys Stadium has increased property values in the Arlington area?

"Yes," he says.

So the next time you are house-hunting, don't turn up your nose at those bright lights and noisy boxes. That stadium just may end up paying your mortgage.
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