Hottest Neighborhoods to Look out for in 2016
There is a high possibility that most homeowners believe if a house has an ocean view, is near amenities or tourist attractions, is in a high-end area or in a gated community, then most likely this is the best home to invest in despite the amount of millions of dollars that one would have to part with. One, because it will continue to appreciate in value, and two, it is a Palm Beach home dream come true. While this may be true, real estate in the Palm Beach County has changed over the years, and right now there are other more options for home buying than the ones mentioned above.
Most of the homes projected in these high-end areas have become more and more expensive over the years, and now most people are looking for cheaper options where the quality is still good but at a more affordable value. According to real estate research, most neighborhoods gaining popularity in this new year are in Palm Beach County, some of which are literally bouncing back into the market after being hard hit by the current real estate market.
One of the community associations that has made it to the top five list is Villages of Oriole in Delray Beach. The home prices in this area are amounting to less than $100,000. The community already reflects over 3% growth compared with Parker Ridge in West Palm Beach which reflects around 2.5% growth in real estate growth. Other areas in West Palm Beach that are likely to project growth in 2016 are Roosevelt Estates and Palm Beach Lakes.
Investors doing their homework around West Palm Beach now know where to put their money in. These projections already show that 2016 is a good year for houses passing rebound compared with the high-end ones. Most buyers are discouraged to invest in expensive homes as they are becoming more expensive, they therefore prefer getting affordable housing thus the increase in market value for such neighborhoods.