Older homes have one major advantage over newer homes… they are in established neighborhoods.
In addition, in many cases, not only is the neighborhood location excellent, but the size of homes and lots, price, age and style of the homes in relation to quality are good value in older communities. Safety and sense of community can also be positive factors.
How can you tell which communities are appreciating, and which are deteriorating? Simple - the ones in which homes are selling and buyers are moving in.
Stay open minded when shopping. Excellent values can be found where you may least expect it.