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What are signs that an area is declining?

What are some red flags or signs that an area is declining? What should I look at to get a feel for the neighborhood and get a picture of what it will be in 10+ years?
Asked By James | San Mateo, CA | 237 views | Buying | 8 months ago
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Pro
91 Answers
Lisa and Greg Harris

eXp Realty, LLC

(42)

Often School rankings can be a lead indicator of an area. Often an area with better schools hold their values at a higher rate. There are also signs in older neighborhoods if you see homes being renovated and resold for higher values, this is a good sign of re-gingerfication. I would rely on a trusted LOCAL REALTOR to give you some comparables to see if the inventory is rising, days on market are growing and how homes are holding their value. Unfortunately, there is no crystal ball, but these are all helpful indicators!
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Novice
8 Answers
Richard McKinney

RE/MAX GOLD

(572)

Some early signs that a market may be declining are; increasing inventory, price reductions, increased market time and an increase in pre-foreclosures in the area. Some of can be temporary though especially if the is still strong demand. More urgent concerns are economic factors such as an increase in unemployment in the area, employers leaving the area and a struggling economy.

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