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Home | Uncategorized | Which Hidden Gems Make Cut as Year’s Hottest Neighborhoods?
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Which Hidden Gems Make Cut as Year’s Hottest Neighborhoods?

Which Hidden Gems Make Cut as Year’s Hottest Neighborhoods?

""""Redfin"""":http://www.redfin.com on Tuesday came out with its annual list of the country's """"hottest"""" neighborhoods. The company ranked 105 neighborhoods across 21 major markets that have grown the most in popularity during the four months leading into 2014.

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Following are 2014's 10 hottest neighborhoods, according to Redfin, along with their median sale price in 2013:

#1 Bernal Heights North Slope - San Francisco, CA | $982,500
#2 Eagle Rock - Los Angeles, CA | $539,000
#3 Morningside-Lenox Park - Atlanta, GA | $540,375
#4 Upper Chevy Chase - Washington, D.C. | $873,000
#5 Desert Shores - Las Vegas, NV | $179,525
#6 Barrington Oaks - Austin, TX | $303,750
#7 Phinney Ridge - Seattle, WA | $502,625
#8 Concordia - Portland, OR | $355,000
#9 City Park - Denver, CO | $394,500
#10 Humboldt Park - Chicago, IL | $189,450

The company says at first glance, it appears the common threads among the top neighborhoods are highly ranked schools and scenic community parks. However, Redfin agents have found that the real trend driving neighborhood popularity in 2014 is a short commute at an

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affordable price. People's top neighborhood choices offer a short drive to or easy access to a commuter rail line at prices that are not the most expensive in the city, the company explained.

""""After a year in which prices popped 13 percent, Americans are checking out still-close-in but often-overlooked neighborhoods in search of affordability, even if means less-fashionable restaurants or a home that needs a little more work,"""" said Redfin CEO Glenn Kelman.

He likened this year's hottest markets to """"the Susan Luccis of neighborhoods"""" that are """"finally getting their due."""" Kelman continued, """"The buyers who have made these alternative spots so hot aren't like the ones we saw in the last boom, who just borrowed more and paid up. Our clients in 2014 have settled on a price range, and they're sticking to it.""""

To arrive at its 2014 """"hot"""" list, the Seattle-based, technology-centric brokerage says it turned to its website users, analyzing hundreds of millions of pages they visited and homes they added as """"favorites"""" to monitor for price changes or sales. Redfin's evaluation also takes into account insights about which neighborhoods are """"buzzing"""" from hundreds of real estate agents within the 21 major U.S. cities included in the company's coverage area.

Recognizing that most homebuyers aren't scouring the United States from coast-to-coast to find their next home but instead focus their efforts on finding the right neighborhood within the confines of an individual city and its immediate vicinity, Redfin also compiled separate listings of what it calls """"the top five rising stars"""" within each of the 21 markets covered in its study. The company's analysis of 2014's hottest neighborhoods by metro is """"available on its website"""":http://www.redfin.com/research/reports/special-reports/2014/top-neighborhoods-of-2014.html#.UtaCuZ4hHKg.

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About Carrie Bay

Carrie Bay
Carrie Bay is a freelance writer for DS News and its sister publication MReport. She served as online editor for DSNews.com from 2008 through 2011. Prior to joining DS News and the Five Star organization, she managed public relations, marketing, and media relations initiatives for several B2B companies in the financial services, technology, and telecommunications industries. She also wrote for retail and nonprofit organizations upon graduating from Texas A&M University with degrees in journalism and English.

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