What do Enid, Oklahoma, Sitka, Alaska and the South Bronx all have in common? They're the latest neighborhoods to get hit with the Barbara Corcoran buy-it-now alert. On Good Morning America yesterday, she talked up SoBro, concluding with a terrifying prediction:
What makes it great: The South Bronx is the last housing frontier close to New York City. It lost 57 percent of its population in the 1970s; now people are coming back. Public money is flowing in, and developers are really starting to lay their bets. Most importantly, it's attracting creative energy — artists and musicians are moving there — which can really revitalize an area. What you can learn: Here are three tips from the South Bronx that apply to any depressed area. One, track the number of classified ads selling property each week. They should double every month. Second, assess an area at night. A night life — like clubs and cafes — is a good sign that a neighborhood is on the rise. Third, look for the price of a cup of coffee to rise. Up-and-coming neighborhoods draw expensive coffee sellers.