How to Find the Next Must-Live-In Neighborhood
This entry was posted on Oct 25th 2017
The key of any trend is timing. And when it comes to finding the next must-live-in neighborhood, it’s also knowing how to read the signs of progress an area and its residents are showing. Rabell Realty Group offers these tips to help you find your ideal neighborhood.
Do Your Homework
You know the internet carries a wealth of information, so it is a good idea to research details about any potential future neighborhood you may be considering. The first step before looking at houses for sale in Gainesville, FL, is to determine your budget.
One of the answers you can easily obtain with a little help from the internet is local pricing. Look at the prices of houses and apartments in the neighborhood and any fluctuations in the past three or four years. Also, take into account whether the properties sold are selling at, above or below the asking price.
The absorption rate of a neighborhood is a better trend indicator than the home valuations. This rate shows whether the listing inventory of a neighborhood divided by the number of sales in a month is increasing or decreasing. How quickly people buy a house in Gainesville, FL, in one neighborhood versus another ordinarily indicates something positive about the first neighborhood, such as location, safety or amenities.
The Devil Is In The Details
After you’ve spent time researching and noting what you believe is a must-live-in neighborhood, take a trip there and see it in person. Talk to those who already live there, asking about things like public transportation is in the area, incoming or rumored new businesses and any rezoning plans by the city. Don’t rely solely on statistics of the area you uncovered while doing your homework. For instance, if an area has high crime statistics, ask local residents if the numbers tell the entire story.
Neighborhood Growth and Accessibility
When a neighborhood is on the list for improvements and/or additions of bike lanes, parks, recreational areas or public transportation stops, it is likely an up-and-comer. Growing areas are known for walkability and accessibility to new or improved amenities. One of Gainesville’s newest must-live-in neighborhoods is Oakmont, which combines accessibility of urban living with the tranquil pace of the countryside.
Are homes for sale in Gainesville neighborhoods you are looking at receiving major renovations? Putting time and money back into a neighborhood, even on a house-by-house basis, usually shows its residents are willing to invest and commit to it. Returns on those investments will likely increase in the coming years.
Decreasing Days on Market
An agent with Rabell Realty Group knows whether the number of days homes in a neighborhood are on the market is decreasing or increasing. A spiking decrease means the neighborhood is already in demand, but a slow and steady decrease often signals you have time to buy a home in the next up-and-coming area.
If the number of retail- and service-based businesses seems to surge overnight, chances are they’re settling in a must-live-in neighborhood. Businesses usually do a lot of research and projecting before choosing to expand into a new area and only do so when the numbers back up the proposal. The Lugano neighborhood has Gainesville, FL, homes for sale in an up-and-coming area, close to Celebration Pointe and Butler Plaza.
On-trend businesses setting up a shop in a neighborhood is a sign of imminent progress in the area. Whole Foods, IKEA and Starbucks are examples of on-trend businesses, but the name also applies to small boutiques and speciality stores, local or national.
Large-scale economic and/or infrastructure developments are usually signs that an area could be primed for prosperity. Generally, it takes more than one large employer or development, but other businesses in the industry may also begin to move in if they notice their peers’ success.
Let Rabell Realty Group Help You Find the Next Must-Live-In Neighborhood
Having served the Gainesville, FL, area for many years, Rabell Realty Group knows whenever a local neighborhood is entering the must-live-in list. Our realtors stay up to date on market conditions, regulations and developments and use this knowledge to make your buying or selling process flow seamlessly. If you’re looking to to buy a house in Gainesville, FL, call Rabell Realty Group for assistance today!