No neighborhood is perfect. As time passes, you may start to notice signs of decline in your formerly ideal neighborhood, and sometimes, it is a signal to sell your home if you own one or move away if you don’t. What are these signs?
It may spell trouble if you notice that your neighbors are no longer keeping up with essential maintenance around their homes. Are the lawns mowed? Have they stopped planting flowers in the spring? This is a big red flag because it may mean they no longer care and want to move. This can severely impact the value of your home.If you notice an increased number of police cars patrolling your neighborhood, you should be worried. This could mean that the crime rate is rising, and they’re trying to prevent additional problems. When property crimes become rampant in an area, it signals a decline in law and order, eroding residents’ sense of safety and security.You must also keep an eye on recent foreclosures in your neighborhood. Most people faced with foreclosure stop maintaining their homes as much as they might have previously. Foreclosures also reduce nearby property values due to lower comparables and are generally not good for the community. If you see that property values are flat or decreasing, even though the rest of the city is enjoying price appreciation, this could be a bad sign. Many homeowners use platforms like Zillow to check the Zestimate for their houses and perhaps others in their neighborhood. The number is not always spot-on, but it can give you a good grasp of what’s happening to nearby home values. If homes in your neighborhood spend much time on the market before they get picked up, it can mean a range of things. Some may wonder if something is wrong with the home or if people are hesitant to move into the neighborhood.
They could range from increasing crime rates to businesses shutting down, but they are all proof that your once-idyllic neighborhood might not be what it used to be. It may be time to get out before things get even worse.
