Trulia Voices—Oakleigh

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We are interested in an old southern property, but are concerned with the neighborhood. Should we risk it?

The property, expected to be part of the Historic Oakleigh District of Mobile expansion (near Washington Sq.), is located on the far southern side of the historic area and is bordered on the south by a cemetery. There's great potential to expand as it has a large lot. However, the immediate neighborhood is a bit run down and shady. The area is predicted to improve, but hasn't yet. Any suggestions?
Mon Jun 25 2007, 11:34 - Oakleigh - Foreclosure - 1 answer
 
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Shawn
Home Buyer
in Mobile
Shawn, Home Buyer in Mobile in Mobile
Answers (1)
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June Slusser,… was FIRST TO ANSWER
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Buying a property before the "boom" can be a wonderful way to create wealth. It also can be one of the fastest ways to lose it. I suggest you spend time with the chamber of commerce, development authority, reputable area real estate agents/companies. You might consider making an offer that includes a "due diligence" clause. That clause should give you adequate time to research trends, recent sales, foreclosures, etc. I love to purchase historic properties in areas not discovered but I always try to know all the facts before I put my money on the line.

Mon Jun 25 2007, 18:45
 
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