What does Up and Coming mean?

1. The neighborhood is re-inventing itself.
2. The people moving in are younger and more affluent than those moving out.
3. It’s a neighborhood where if you buy early, before everyone else does, you can make a real estate killing when you sell.

How Do You Spot an Up and Coming Neighborhood Early?

1. Follow the creative types.
2. Look for one big change (old factory being converted into new lofts), the cleaning up of a public park or waterfront, or even a Whole Foods moving in)
3. Check out the neighborhood right next door to one that is already hip. (when an area gets too expensive because everyone wants it, usually the neighborhood next door gets discovered.
4. Shop at night (if you go during the day, you won’t see anyone because everyone is working, if you go at night, you’ll see the neighborhood hopping.
Nightlife happens first!
5. Look for older ladies on park benches. (This means the area is safe).
6. Check out the price of a cup of coffee (when a cup of coffee goes up from $1 to $1.50, you’ll know that real estate prices are doing the same.
7. Look for new cars (means young people are moving in).

How Do You Know the Area has Peaked?

1. When it starts to look like every other area – you know the neighborhood has already arrived. (when chain stores move in, prices have peaked)

These Are Our Picks for the Next Up and Coming Places

1. Austin, Texas – “SOCO”

a. Just across the river from downtown Austin.
b. It fulfills Austin’s un-official slogan, “Keep Austin Weird!”
c. SOCO is quirky and the nightlife is hopping.

2. Atlanta, Georgia (West Midtown)

a. It’s only 10 minutes to everything.
b. The old Atlantic Steel plant is now converted to Atlantic Station.
c. It’s young and hip.

3. Charlotte, N.C. (Biddleville)

a. It’s got a great name. (who wouldn’t want to live in Biddleville)
b. Houses are inexpensive (lots of 1920 and 1930’s bungalows from $110,000 to $140,000).
c. It offers great education.

4. Seattle, WA (Seward Park)

a. 277 acre Glacier Park on a lake.
b. Vintage and historic houses being restored.
c. Light rail will connect the downtown to the airport in 2009.

5. Reading, PA

a. It has inexpensive space, the typical home costs about $165,000.
b. Four out of five buyers are from out of state.
c. It’s only 1 hour commute to Philly, 2 hours to NYC and 3 hours to DC.

6. Farmington, NM

a. Prices have jumped 50% in 3 years.
b. It’s physically beautiful in the San Juan River Valley, rugged mountains and desert highlands.
c. The cost of living is low.

I am always on the lookout for up and coming areas, if you have any ideas of your own, please feel free to share!