January 16th, 2014
Real estate company Redfin predicted neighborhoods that will be the most popular in 2014.
According to the report, neighborhoods in the top 10 were sought for their prestigious school systems and community parks. Additionally, they had affordable prices and easy access to business centers – via a short drive or nearby access to commuter rail stations – to allow for shorter commutes.
Redfin CEO Glenn Kelman noted that the top locations eclipsed other neighborhoods because they offer reasonable prices while others have been appreciating – 13 percent in 2013 – starkly during the housing recovery. Although these neighborhoods would usually be second-rate to other locations and there may be more fixer-uppers, they fit the stringent price demands of today’s buyers:
During the last housing boom, homebuyers went for more expensive properties with the intention of borrowing more to get what they want. However, today’s buyer is not afraid of using a little elbow grease to make a second-rate space feel like a luxury home.