Tuesday, November 22, 2011

Property values rise in parts of West Side

 West Side & Black Rock-Riverside Neighborhood Housing Services has been tracking home prices in the Grant-Ferry area for over three years. Over the summer, the organization surveyed 96 houses in the Grant-Ferry neighborhood and discovered a 51 percent increase in property values since 2009.
 “From observation, we’re seeing fewer vacancies and a lot of young professionals buying homes. We’re also seeing more young families in our homebuyer education classes,” said Laura Sweat, assistant to the director for resource development and communications.
 Sweat pointed out that while certain areas of the West Side seem to be booming, others are stable and still other areas see properties getting worse.
 Although it recognize there are areas that need improvement, Neighborhood Housing Services is still calling the West Side “inspiring.”
 Sweat said she believes the rise in property values could be attributed to people seeing the West Side is coming back and wanting to be a part of it. By Kaitlin Fritz and Kaitlin Riznyk