Reading a Bradenton Neighborhood

A number of factors can influence a quality neighborhood and property values. Neighborhoods constantly change in value – sometimes gradually and sometimes quickly.

In an ideal situation you’ll want to purchase property in an area that is appreciating. You wouldn’t want to buy in a depreciating neighborhood. So what are the indicators that you have read a neighborhood correctly?

Positive Indicators

Over time, home values might be an indicator, but keep in mind that they will only reflect the current situation – not future situations.

It’s always important to view the neighborhoods at different times of the day and on weekends. You can get a flavor for traffic and noise factors as value is not the only factor that determines whether an area is quality or not. It has been said that 10 minutes of driving will tell you more than 4 hours at your computer.

Here are other indicators that affect neighborhood value trends:

Homes are receiving multiple offers
Schools are well-rated and in demand
Young families and creative types are moving to the neighborhood
Older couples choose to remain in the neighborhood as they age
Commercial properties are quickly redeveloped and leased
Negative Indicators

It’s not always easy to read a neighborhood. For example, there may be potential even in a bad neighborhood, but you will have to put up with the negative factors for a long time to reap the rewards. You’ll want to evaluate the area with both good and negative features in mind.

The number of homes converted into rentals have increased
Homes remain on the market longer
Companies are relocating away or shutting down offices
Commercial spaces are vacant for long stretches
I know the Bradenton area and am more than happy to help you with your research of the area. Get in touch with me and we can look at areas that you are interested in.