On the last blog, I offered some ideas about a few ways to evaluate the neighborhoods surrounding some Berkeley homes for sale that you might be considering. While it is important to choose a home just for itself, there is no doubt that the choice of a neighborhood plays a crucial role in your family's happiness once the home is purchased.  Yesterday, I mentioned the importance of choosing the right school district, and the quality of the neighborhood location as to amenities and services.Â
In this blog, the suggestion for a criteria has to do with a financial consideration of the home's appreciation possibilities. No one wants to buy a home to find out that within a year or two, it will be worth less than its original purchase price. This is always a concern for any home purchase, and one of my jobs as your real estate agent is to give you as much information as possible to help you make decisions.Â
Through the Multiple Listing Services, and other sites, I have an amazing amount of statistical history for each area that you might want to consider. Perhaps, after viewing information about the Berkeley area, you might want to have information about the nearby Oakland Rockridge district, because the results seem appealing, as well.  While it is impossible to predict future sales prices exactly, you will at least have a picture of what past trends have been.Â
Other helpful things to consider would be:
a. What areas are just beginning to grow, and be in demand?
b. Where are most offers for new homes being made?
c. How many "Sale Pending" or "Sold" signs are in front of homes in the neighborhood?
d. What areas are being redeveloped, retrofitted or newly built?
All these issues have a strong bearing on your potential home selection now, and in the future, and thus worth your time to evaluate and review, when considering neighborhoods of interest for purchasing your home.
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Posted by Bruce Wagg on
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