Not in My Neighborhood

I have come across some adverse feelings about some single-family home neighborhoods that first-time homebuyers feel are not particularly favorable.  These neighborhoods attract first-time home buyers because the price range starts around $135K and up.  First-time homebuyers hear advice from their friends, family and coworkers.  As agents, I think it is important to point out the facts.  To get a single-family home in this price range, you most likely will have to travel to areas that are farther away from town or in an area that homes are typically older and are in need of updating or repairing. These neighborhoods also attract investors, and the Housing Authority likes to purchase the newer homes with less maintenance that are in this price range.

What I would like to mention is: this does not necessarily mean that if an investor or the Housing Authority have purchased a few homes in your neighborhood that the value will decrease.  Let me say that again, just because an investor or the Housing Authority have purchased a few homes in your neighborhood, it does not necessarily decrease its value.  You may check the tax records to see how many homes in the neighborhood are rented vs. owned.  You can ask your real estate agent to do an analysis to see if the homes are still appreciating.  You can drive around the neighborhood and see if there are any signs - the exterior not being kept up to par - is generally a first sign.  It's the buyers decision but we owe them the facts.