HCPLive Network
LIFESTYLE

Up-and-Coming Neighborhoods in 2013

Laura Joszt | Monday, January 21, 2013
Since the housing market is rebounding, real estate is a good investment opportunity for those who have the money. And while some parts of the country are still floundering among foreclosure rates, there are a number of housing markets that are expected to do well.
 
For physicians, who usually have extra income to spend, purchasing a rental property is a possibility that could pay off big time if the proper work is done.
 
There’s a lot that goes into the decision of whether or not to buy a rental property. True, the younger generation is looking more at long-term renting than home-buying, but they’ve also got big expectations of what the rental property should include and have access to. Potential landlords need to do their homework.
 
Location is important because you don’t want to be in a high-crime neighborhood. Ideally you want to be in an up-and-coming neighborhood — it makes your property desirable for renters, but it will sell for a nice profit later on.
 
Real estate company Redfin has listed the top 10 hottest neighborhoods for 2013 based on a few factors. All of the neighborhoods on the list are seeing shrinking selection, increasing sales and increasing prices
 
“The results surprised us: the hottest neighborhoods aren't the well-known bastions of privilege,” Redfin Chief Executive Officer Glenn Kelman said in a statement. “They're once-gritty urban areas and far-flung suburbs with school districts on the rise. This is the surest sign that the recovery is broadening, and that home-buyers are venturing out to once-marginal areas hit hard when the bubble burst."
 
California overwhelmingly dominates the top 10, with eight spots.
 
(The data compares December 2011 with December 2012.)
 
10. North Maple Leaf
Market: Seattle, Wash.
Inventory change: -44%
Sales volume change: +15%
Median sales price change: +22%
 
9. The Mission

Source: Redfin

Market: Bay Area, Calif.
Inventory change: -29%
Sales volume change: +17%
Median sales price change: +80%
 
8. Logan Square

Source: Redfin
 
Market: Chicago, Ill.
Inventory change: -10%
Sales volume change: +94%
Median sales price change: +20%
 
7. Glassell Park
Market: Los Angeles, Calif.
Inventory change: -64%
Sales volume change: +31%
Median sales price change: +17%
 
6. Willow Glen

Source: Redfin
 
Market: Bay Area, Calif.
Inventory change: -60%
Sales volume change: +9%
Median sales price change: +32%
 
5. Livermore
Market: Bay Area, Calif.
Inventory change: -71%
Sales volume change: +13%
Median sales price change: +20%
 
4. Eagle Rock
Market: Los Angeles, Calif.
Inventory change: -54%
Sales volume change: +44%
Median sales price change: +11%
 
3. Faircrest Heights

Source: Redfin
 
Market: Los Angeles, Calif.
Inventory change: -63%
Sales volume change: +17%
Median sales price change: +29%
 
2. Mira Mesa
Market: San Diego
Inventory change: -69%
Sales volume change: +48%
Median sales price change: +21%
 
1. Highland Park

Source: Redfin
 
Market: Los Angeles
Inventory change: -48%
Sales volume change: +73%
Median sales price change: +31%
 
Click here to see the top neighborhoods in 16 markets across the U.S.
 
Read more:
When it Makes Sense to Buy a Home to Rent
Can the Rental Market Produce Returns?
Three Ways to Play the Great Real Estate Rebound



RELATED ARTICLES
The financial industry is wicked, but there is an answer to the problem: financial education. Unfortunately, there are 2 reasons why teaching personal finance in school will not work to safeguard our financial futures.
One accountable care organization saved $8.5 million and received a check from Medicare for $4.2 million after 17 months. Suddenly, they had physicians clamoring to join.
While private investments in early-stage companies have the potential for significant upside, they also carry significant risks. If adequate documentation is not available, proceed cautiously, if at all.
RECENT CLINICAL ARTICLES
Results of a large international study known as SIGNIFY showed ivabradine offered no benefit to patients who had stable coronary artery disease without clinical heart failure (CHF).
Novartis plans to soon file a new drug application with the US Food and Drug Administration (FDA) for its investigational heart failure drug LCZ696. A report showing the drug works better than enalapril to prevent adverse cardiac events was released at the European Society of Cardiology Congress in Barcelona, Spain Aug. 30 and published online in the New England Journal of Medicine (NEJM).
Researchers at the University of Leicester have developed a highly sensitive “electronic-nose” to identify the infectious bacteria Clostridium difficile that causes diarrhea, stomach cramps, and fever in patients.