Age and makeup of your neighborhood can determine home value loss

In general, homes in established neighborhoods have held value better. Part of the reason, Teacher said, is that fewer investors purchased during the housing boom, and the foreclosure rate is typically lower than in newer subdivisions. One neighborhood that has remained fairly stable, Teacher said, is the area of South Tampa, west of Westshore Boulevard. The average sales prices of $662,634 in 2005 dropped 4 percent to $634,764 in 2009. Part of the reason may be that the neighborhood is established and hasn't seen as much sales activity has some other areas. Another South Tampa neighborhood, Beach Park, known for luxury homes, saw the average sales price of $646,891 drop 22 percent to $505,952 this year. It's not just the age of the neighborhoods that contributes to value changes. It is also relatively low prices in certain neighborhoods that attracted investors.

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