There Goes The Neighborhood Trends

By
Real Estate Agent with Keller Williams Realty 0575737

Green HouseSometimes falling home values in your neighborhood happen so suddenly you can't do anything about protecting your investment, but ALWAYS keep in mind these

There Goes The Neighborhood Trends

* If no HOA rules, watch for strong violators of people doing their own thing, painting weird colors, junk cars in the yard, loss of pride of ownership

* Increase in rental homes over owner occupied homes

* Loss of jobs in the town, meaning more supply less demand

* styles are more and more outdated with buyers not even looking in your neighborhood

* the socioeconomic class is drastically changing from what it used to be

* increased crime

It doesn't take a brilliant rocket scientist to see some obvious reasons why a neighborhood is in decline, but before it bottoms out you might want to sell and move on. There is resurgence in neighborhoods and there are also bulldozers at some point. Keep your eye on trends for where you or family lives, ascending, flat, or steeply declining. The latter should be the highest concern for you for many reasons.

 

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Ambassador
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Lori Bowers
La Quinta, CA
The Lori Bowers Group

Thanks for an honest and informational blog on what to look for when buying a home

Mar 09, 2013 05:52 AM #1
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Paul S. Henderson, REALTORĀ®, CRS
RE/MAX Northwest. - Tacoma, WA
Tacoma Washington Agent/Broker & Market Authority!

Living close to a Joint Base with 2 wars going on, I have discovered that the deployment of our troops make one parent homes look in need of help. What they need is a complete family unit.

Mar 09, 2013 06:00 AM #2
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Lenn Harley
Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate - Leesburg, VA
Real Estate Broker - Virginia & Maryland

I love homeowners associations. 

As I tell buyers who would complain, "That HOA is protecting YOUR investment." 

Mar 09, 2013 06:17 AM #3
Rainmaker
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William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

HOA's are a pain until you see a neighborhood where someone has painted the house some god awful color.

Mar 09, 2013 06:55 AM #4
Rainmaker
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Sheila Anderson
Referral Group Incorporated - East Brunswick, NJ
The Real Estate Whisperer Who Listens 732-715-1133

Hi Gary. This is so true and you make a really good point. Well said my friend.

Mar 09, 2013 06:57 AM #5
Rainmaker
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Tony & Darcy Cannon
Aubrey and Associates Realty - Layton, UT
The C Team

Gary, That is some good information!  Have a great weekend!

Mar 09, 2013 09:24 AM #6
Rainmaker
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Lou Ludwig
Ludwig & Associates - Boca Raton, FL
Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC

Gary

Thanks for sharing your thoughts . . . . you are right on target.

Good luck and success.

Lou Ludwig

Mar 09, 2013 10:15 AM #7
Rainmaker
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Kevin J. May
Florida Supreme Realty - Hobe Sound, FL
Serving the Treasure & Paradise Coasts of Florida

A walk around the neighborhood every evening is not only good for you but keeps you aware of your surroundings too.

Mar 09, 2013 10:27 AM #8
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Patricia Kennedy
RLAH Real Estate - Washington, DC
Home in the Capital

Gary, I remember once my neighbors nipping things in the bud when a color blind resident chose Pepto Bismal Pink as an exterior paint color.  We all worked it out.  The house is not a pretty beige.

Mar 09, 2013 10:29 AM #9
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Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

Gary, HOAs mostly do good jobs keeping the integrity of the neighborhood intact. Property values stay up too.

Mar 09, 2013 11:23 AM #10
Rainmaker
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Suesan Jenifer Therriault
JTHIS-Professional Home Inspection Team - Blakeslee, PA
"Inspecting every purchase as if it were my own".

Gary you're so right. As a home owner it's important to stay aware of things going on in your neighborhood which could negatively affect your property value. 

Mar 09, 2013 11:23 AM #11
Rainmaker
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Rebecca Gaujot, RealtorĀ®
Vision Quest Realty - Lewisburg, WV
Lewisburg WV, the go to agent for all real estate

Gary, we have a HOA in my community and so glad...it protects our investment.  Some owners have complained about the strict rules....but if they would just look at some communities that do not have them ...perhaps they would stop complaining.

Mar 09, 2013 11:27 AM #12
Rainmaker
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Sondra Meyer:
Star View Real Estate - Colorado Springs, CO
See It. Experience It. Live It.

Hi Gary, I would also suggest that if someone thinks their neighborhood is in decline they should try to get to know their neighbors a little more.  Maybe they could form a neighborhood watch program.  Maybe they could volunteer to help out the persons in need.  Maybe they need to have a city enforce existing ordinances.....

Don't give up on old neighborhoods.  With love and pride of ownership - they can survive. 

Mar 09, 2013 11:38 AM #13
Rainmaker
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Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Home owners that opt for a community without an HOA may get more surprises as well.  One of the common needs for some buyers is a place where they can park their trucks and construction equipment.

Mar 10, 2013 12:21 AM #14
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Gary Woltal

Assoc. Broker Realtor SFR Dallas Ft. Worth
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