Setting The Stage

TheMReport — News and strategies for the evolving mortgage marketplace.

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Th e M Rep o RT | 5 The Nation's Hottest Neighborhoods Living in a prime locale takes strategic decision-making. Armed with the right information, homebuyers are finding the diamonds in the rough and turning them into the hippest cities in America in 2014. Top 10 neighborhoods of 2014 Neighborhood City Median sale in 2013 1. Bernal Heights North Slope San Francisco, California $982,500 2. Eagle Rock Los Angeles, California $539,000 3. Morningside—Lenox Park Atlanta, Georgia $540,375 4. Upper Chevy Chase Washington, D.C. $873,000 5. Desert Shores Las Vegas, Nevada $179,525 6. Barrington Oaks Austin, Texas $303, 750 7. Phinney Ridge Seattle, Washington $502,625 8. Concordia Portland, Oregon $355,000 9. City Park Denver, Colorado $394,500 10. Humboldt Park Chicago, Illinois $189,450 B ased on a new report by Redfin, certain factors make an area an "it" neighborhood. Typical things on the search agenda include good schools, parks, and proxim- ity to dining and entertainment options, but a new item on the checklist is housing affordability. To meet that mandate, would-be buyers seem willing to bend on some of the other criteria a little bit. "After a year in which prices popped 13 percent, Ameri- cans are checking out still-close-in but often-overlooked neighborhoods in search of affordability, even if it means less-fashionable restaurants or a home that needs a little more work," said Glenn Kelman, Redfin CEO. More and more people are looking to get into the next "it" neighborhood as much as the "right-now" neighbor- hood. Budget-friendly houses might need a little more TLC, but they often satisfy all the other requirements and also are either close to work or public transportation. Having the foresight to think ahead might work out in the interest of the homeowner when they are ready to sell and move on to their next home. the pulse Source: Redfin

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