How to tell if "recovery" has happened in your neighborhood!

All over the internet there are articles about how the market is recovering, but how can you tell if it's recovered in your neighborhood.  According the this article on AOL Real Estate, there are a few things to look for!

1.  SIGNS!

• Are there for sale signs popping up everywhere?  If so, that's a sign that your neighbors are getting confident in the market and think they can sell rather quickly.
• Are they going down as quickly as they go up?  If so, GREAT!  That is a great sign that your neighborhood is part of that "recovery."  However, if they sit there for months and months, that means your neighborhood has a ways to go!

2.  Are your Neighbors houses look good!?

• If your neighbor starts sprucing up the yard, painting or renovating that's a sign that they are getting ready to sell and they believe buyers are attracted to the neighborhood.  However, if homes are dingy and for sale for months, that is not a good sign!

3.  Traffic at Open Houses

• If traffic at Open houses is picking up, that's a great sign.  Word of warning though, watch the traffic and look for familiar faces!  If they are unfamiliar, that's good, you want to make sure it's not just the neighbors going to check it out!  

4.  New Neighbors?

• It's a good sign if you are getting new neighbors and not just neighbors that bought a house, even if they are renters that can mean that people are interested in your neighborhood!

5.  Is there high enrollment at the neighborhood school?

• Low enrollment = Bad sign, High Enrollment = GREAT SIGN!

6.  Are you seeing contractors!?

• Apprasiers, termite inspections, moving vans, but most importantly, home inspectors!  A home inspection is a sure sign that a closing is coming.  

7.  Are houses selling for more than your asking price?

• Needless to say, if this happens, you are probably in good shape!