How to Tell When a Neighborhood Will Be Hot
February 28, 2014
Bargain-hunting home buyers willing to purchase in an up-and-coming neighborhood can get a good deal and, as Trulia's Michael Corbett says, "get in on the ground floor of appreciation."
Here are five signs that a neighborhood is about to take off:
- An up-and-coming neighborhood often is characterized by retail or residential construction that is already in progress.
- They also often are found where trendy establishments, such as wine bars or farm-to-table restaurants, are opening.
- Buyers also should look for neighborhoods adjacent to big cities or those where crime is on the decline.
- Public building projects are on the rise.
- Renovated homes are going on the market.
Source: "5 Signs a Neighborhood Is About to Take Off," Fox News (Feb. 26, 2014)
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Updated: August 07, 2020