Tuesday, January 10, 2017

Which St. Pete Neighborhoods Will See Home Values Increase the Most this Year?

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You may have never even heard of Westminster Heights. This neighborhood in St. Petersburg might be worth investigating though if you are looking for ideal real estate investments this year.  Located between 49th and 58th Streets South and located south of Central Avenue, this Tampa Bay location tops Zillow's list of the five bay area neighborhoods expected to show the biggest percentage increase in home valuation for 2017.  

Why is the area so appealing? What is causing the anticipated 11 percent value jump?  According to an article written by Susan Taylor Martin in the Tampa Bay Times, the location is good in terms of access to things such as the Pinellas Trail and Grand Central with new businesses popping up. Homes are well maintained and can be purchased for a good price.  An example is a current four bedroom listing for $149,000. Additionally there is a community playground.

Oakwood Gardens is located between 30th and 38th Avenues N with backyards of several houses butting up to I-275. Mature shade trees, easy store and restaurant access and well-kept affordable homes draw many to this neighborhood close to downtown St. Pete.  Home values here are forecast to rise 9.4 percent but very few homes are currently on the market.

Just south of there lies the Lake Euclid area including a two and a half acre park and wildlife area. While it is close to the interstate it is even closer to downtown. Many homes in this community can be purchased for below $175,000. Home values are expected to rise 9 percent in 2017.

Zillow predicts a 3% increase in this year's home values nationally. Are you ready to see what your home is worth?  Call the Kohan Real Estate Team for a free Home Evaluation at 727-565-1658 or email us at kkohan@remax.net.


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