There have been a few homes rehabbed in Knollwood. Those were the best looking and brought the best prices. However, there are a fair number that have been sold 'As Is' so the buyer(s) would have to do all the renovation work if they have the means to do so. What will bring property values up in the area is to have more owner occupants. Several of the rehabs were sold with this stipulation. In the solds prices have ranged over the past year from $51k-$154.9k. The highest list price for actives in the community is a new construction at $209.9k. During the growth period in the market (between 2003-2006) the increase is value was: 2003 to 2004 - 32%; 2004 to 2005 - 31%; 2005 -to 2006 - 24% Between 2006 and 2007 the values dropped to -$8,571 or a loss of 6% in value. Between 2007 and 2008 values declined by $26,777, a loss rate of 21% in value. It will take some time to make up those losses. So in all likelihood, the answer to your questions is no... the area will not likely 'Pop" anytime soon. If, however, you want to bet on the long term, then you will probably be all right. This is a case of 'Buy & Hold', if that's your plan. It is certainly not the time to buy with the intention of 'flipping' the property any time within the next couple of years for a quick profit.