Fischer Realty

Looking at Neighborhoods?

by Cathryn Leasure 01/28/2019

All communities have increases and decreases in population, demographics, and times when several (or very few) homes are on the market. Sometimes, it's merely that the stars aligned for several homeowners at the same time. Once in a while, because the market is particularly hot, many of the owners hope to cash in on the rising prices. In a few cases, however, it is a BIG. RED. FLAG.

Proceed with caution.

Getting in early to a neighborhood that is on the cusp of gentrifying—of becoming that trendy place where everybody wants to live—can be a savvy move for personal homebuyers and investment purchases. But just because the neighborhood next door made the transition doesn’t always mean this one is next up.

If you can purchase several homes in the neighborhood, you can try to force the upward change, but if you’re buying your first family home, take heed of a few signs that a community has headed down instead of up.

Lots of homes for sale.

As noted above, sometimes it’s just a fluke that several homes go on the market at once. Other times, it is because some community event triggered it. This event could be a school district redistricting so that students no longer qualify to go to the school they planned for, an increase in a local tax, because the water/sewer lines need upgrading but the city isn't budging, or an increase in homeowner association dues.

Association woes.

Speaking of homeowner associations, sometimes it's not the dues, it's just the restrictive rules. If all the houses look identical; if the color palette seems to be within one or two hues; if the turf is all the same grass, the neighborhood might have a super-controlling association. While many folks are fine with tightly-defined rules, you'll want to know going in so that your dreams of a minty-green paint over all that red brick aren't dashed on the rocks of the rulebook and covenants.

School shuffling.

If the school district is moving the lines, it's important to know before you invest. The changes might be in your favor, in which case: get right in there and make your move. But if you had old information on where your kids would qualify to go, you need to know.

Different demographics.

In older neighborhoods, an aging population may be in transition out. If so, that might signal the perfect time for younger families to move in, upgrade, update, and upscale the homes into this decade. One way for you to know for sure is to speak to people that know. Talk to the neighbors when you go to that open house. Drive along the streets at the end of the workday to see who is coming and going. Stop by in the morning for a look at how many kids are heading to the school bus stop.

Your local real estate specialist pays attention to trends and can tell you how many homes have sold within the last few years, so use their expertise before making the leap.

About the Author
Author

Cathryn Leasure

Do you need access to MLS listings? 

Would you like to be the first to know about off market properties as soon as they become available? 

Would you prefer to work with a Realtor, who knows their MAO from their ARV?

Don't like finding buyers for your properties? I can list them for you, and I have an amazing marketing strategy that will bring the highest price for your property.

 

Hi, I'm Cathryn, and I love working with investors. 

I've lived in Melbourne, Florida with my husband Michael and daughter Anna for 14 years, and I've been a Realtor with Fischer Realty in Cocoa for 5 years. Over those years I've built an extensive list of contractors, general contractors, plumbers, electricians, roofers, property inspectors, appraisers, investor friendly title companies, investor friendly lawyers, private and hard money funding partners, and any other type of contractors an investor may need.

Whether you're buying your very first rehab house, or you've been in the business for years, if you're looking for a Realtor who understands investors, give me a call.

But don't count me out if you're not an investor. If you're looking for your forever home, or you have a house you'd like to sell, I can help you too.

TESTIMONIALS

"Cathryn has been my personal realtor for the past two years and will continue. Our relationship has been a great success from both buying and selling properties. She has a natural instinct about the property's worth and it's projective worth. A professional to the end, I highly recommend Cathryn to my family and friends."

Joe D

Port St John, FL

"Being new to Florida Cathryn helped my husband and I find the perfect size house for my family of 5. The location was excellent, close to the school my child attends, shopping and minutes to I95 for commuting. She was very professional and a good friend. Thank you for all that you did for us!!!"

Catherine N 

Palm Bay, FL

"Cathryn was very professional, sweet and kind the entire 3 months we were looking for a new home. She showed us many and finally we found a great home in Palm Bay, FL thanks to her dedication and hard work! I was totally impressed with her and would recommend her to anyone!"

Chris W 

Palm Bay, FL

"Outstanding!! We were up against some tight timelines for finding a rental home last October, and Cathryn really came through! We made multiple visits to the area - some pretty last minute - and Cathryn was incredibly responsive and knowledgeable each and every time. She really understood what we were after and the current market and worked very hard to get us in exactly the right home. We're extremely happy with her service and would stand in line to work with her again!!"

Ehren C 

Melbourne, FL

"You are greatly appreciated my dear. Working with you has been great. Thank you for all that you have done for us."

James and Alison P 

Melbourne, FL

"I've purchased two condos with Cathryn being my realtor and she brings integrity and a thorough knowledge of real estate to the table."

Bill F

Cape Canaveral, FL