Tools to Help Buyers Find a Diamond in the Rough Neighborhood

There are certain things to look for when looking at a neighborhood in which to buy a home.  Most homebuyers have an idea of what their ideal community might represent, but how do you know if a new neighborhood or older neighborhood with reasonable prices will eventually fit your ideal?  Real estate blogger Barbara Corcoran recently listed the SOCO area of Austin as an "up and coming" neighborhood, and gave some suggestions on how to spot your own:

• Look at the age of the new residents.  Areas with younger professionals tend to be hipper.
• The neighborhood is cleaning up its act.
• The area has low prices due to neglect, but shows promise in the long run.
• Look for artists and other "creative types."
• Identify underway positive changes: conversions, clean-ups, independent businesses.
• Look at the trendy (read: expensive) neighborhood next door.  That area will most likely expand to include your new purchase.
• Check out the people.  Do they seem safe and friendly?  Would you want to borrow a cup of sugar from one of them?
• Take an evening stroll (people are home at night) on the side streets.  Again, are the people friendly?  And what kind of cars are parked there?  According to Corcoran, the newer the cars, the younger and more affluent the residents.

The SOCO district fits the bill.  With young people, a happening nightlife, and quirky personality, SOCO might just be the next hot spot.  Who knows, some "up and coming" actor might move in right next door!

The RealtyPro Team helps sellers, buyers, and investors with their residential real estate transactions all over the Greater Austin metropolitan area.  To search all currently available property listings, visit www.AustinRealtyPro.com/SearchAustinListings