Home seekers put on investigative hats

How can I find out more about a neighborhood?
Monday, May 16, 2005
By Dian Hymer
Inman News
Courtesy Top Producer

Years ago, a young man bought his first home in a prime Oakland, Calif., neighborhood. He worked at home a lot, and was particularly sensitive to noise. The house he purchased was appealing to him because it was across the street from an undeveloped property. About a year after he moved in, construction started on the property across the street. Unbeknownst to him, a new high school was being built. He found the noise from construction intolerable.
Most buyers are accustomed to having a home they're interested in buying inspected by a knowledgeable home inspector. Finding out pertinent information about the surrounding neighborhood should also be a part of your due diligence investigations.
A good source of information about the local neighborhood is local residents. You may view a listing at a time when no one's around. So, be sure to visit the neighborhood on your own at times when locals are likely to be at home, like after work or on a Saturday morning. Attending a Sunday open house may give you an opportunity to talk with some neighbors.
Ask friends and colleagues at work if they know anyone who lives in a neighborhood you're considering. Get names, addresses and phone numbers, if you can, so that you can talk with these people directly.
HOUSE HUNTING TIP: You want to know what local residents like and don't like about the neighborhood. Find out how long each person you talk to has lived there. Ask if there any proposed changes in local facilities like a new freeway or school that might impact the quality of life in the neighborhood in either a positive or negative way? Are there any problems like landslides, school or crime issues that you should be aware of?
Check with the Chamber of Commerce to find out if they have any information about the neighborhood. If you're concerned about crime rates, visit the local precinct. The Internet is another source of information. A Web site like www.realtor.com or www.neighborhoodscout.com may have some useful, although general, information. If you're buying long distance, your can gather helpful information about a place by subscribing to a local newspaper.
Ask your real estate agent about how often homes change hands in a particular neighborhood. Turn-over tends to be low in the most sought after areas. Also, if listings sell quickly when they do come on the market, this indicates high demand for the area.
Evidence of remodeling in a neighborhood is usually a good sign. Homeowners who are satisfied with the neighborhood tend to remodel and stay put rather than move out.
Find out about the local schools, even if you don't intend to use them. There tends to be a direct correlation between property values and the caliber of public schools in an area—the better the schools, the higher the property values.
It's a good idea to mingle in places where you'll grocery shop, grab a bite to eat and run errands. Are the services you need conveniently available? How do you feel about visiting these places on a regular basis?
Will you be able to satisfy your life style needs easily? For example, if you like to hike, find out if there are good hiking trails nearby. Having time to relax at home is important, so check out your commute to work. If there's public transportation, try it out. If you're driving, take a test drive during rush hour.
THE CLOSING: Be sure to drive to and from a home you're considering at different times of day and from different directions. Your agent may have only shown you the most scenic route.
Dian Hymer is author of "House Hunting, The Take-Along Workbook for Home Buyers" and "Starting Out, The Complete Home Buyer's Guide," Chronicle Books.

www.GreatChicagoRealEstate.com