It’s not too hard to find neighborhoods where home prices don’t fall. It’s important to find highly desirable neighborhoods that maintain or increase in value have a few characteristics in common.
- A well-established neighborhood close to a city
- Homes priced slightly above the median home price
- Has few, if any foreclosures
- Has long-term neighbors that have lived in the home for over 15 years
- Neighborhood is convenient to major highways, and/or public transportation for easy commuting
- Amenities such as parks, playgrounds, a gated community with security, etc.
- Located in good school districts
- Have low crime rate statistics
- Have well maintained houses, yards, streets, curbs, and other signs of neighborhood pride.
I also recommend a few other signs of a good neighborhood that will probably hold its value.
- Very few houses for sale, ever
- Houses sell quickly and at or near original list price
- Not located near an apartment complex