For the hip home seeker who longs to be near great food and culture, neighborhoods in a city’s downtown area hold a nearly irresistible attraction. The “urban core” typically has a higher crime rate and less favorable schools than the suburbs, but many downtown areas across the country are undergoing a revitalization of sorts, as cities invest in projects and amenities to attract new residents. And as more people look for alternatives to long commutes and urban sprawl, homebuyers are flocking to the urban core. Homes in urban core neighborhoods come in a variety of styles, such as these brownstones in Boston.
Advantages of Urban Core
Professional writer Toni Kamins has owned a co-op in Manhattan’s trendy West Village for 16 years. “What I most appreciate is the constant availability of just about anything you want,” she says. “I know I miss that when I go out of town.” In a centrally located urban neighborhood, you can typically walk or take a bus, taxi or subway to restaurants, bars, shops, museums, libraries and parks — not to mention use public transportation or your own two feet to get to work each day.
About the Neighborhoods
Homes in the urban core can be skyscraper apartments, converted lofts in old warehouses, spaces above operating businesses, row houses, brownstones — if someone can build it, someone else will figure out a way to live in it. Neighborhoods often vary widely in demographic and socioeconomic development, sometimes even from block to block. Bob Eychner, a real estate broker and owner of Eychner Associates, Inc., in Greenwich Village, remembers trying to sell homes in a very different West Village in the early 1980s. “I can vividly remember the last block of West 12th Street,” he says. “I’d drag customers over there to try to sell them something. There was a banner up that read, ‘Hookers and johns beware! We are taking your license plate number.’ So I trumpeted the strong neighborhood watch system. Sometimes it worked, sometimes it didn’t.”
But the West Village experienced a fairly common phenomenon for cities: a series of historical landmark designations began to prohibit old buildings from being torn down and new high-rises from going up, preserving the neighborhood’s architectural character. This move eventually attracted buyers and crime rates fell. “We moved to the West Village because it’s charming,” Kamins says. “It’s sort of got a small-town feel within Manhattan. It was, at one point, a lot quieter than other parts of the city.”
Climbing Popularity — and Prices
Trouble is, urban core neighborhoods by nature have defined geographic limits, so it’s difficult to keep a great little spot all to yourself. “In the last eight to 10 years, this area has become white-hot,” Kamins says. “It’s absolutely ridiculous. We get a lot of TV and movie crews — Sex and the City was always filming here.” Demand for such unique space can attract crowds and everything that comes with them: noise, congestion and skyrocketing prices.
“Prices are nuts,” Kamins admits. “We paid high prices 16 years ago for this place but nowhere near what they’re paying now.”
Cost of living in the urban core is a major issue to consider, because the real estate market there may not reflect what’s going on in other parts of the country — or even other parts of the same city. “The average number of days on the market for homes in Manhattan has increased in the last year,” Eychner says, “but our inventory has not increased.” Translation: prices aren’t rising as fast as they were, but they’re rising. In vibrant cities, someone will always covet access to great spaces.
Living downtown can sometimes mean getting rid of your car and all the expenses it entails, but the savings can be more than offset by steep mortgages, monthly condo or co-op fees, and increased living expenses. “Co-op and condo fees in Manhattan generally run anywhere from $1 to $4 per square foot per month, depending on the level of service provided by your building,” Eychner says. (In smaller cities, fees tend to be less than $1 per square foot.) “You should also budget for more expensive restaurants. And if you do have a car, parking can be insane.”
In smaller metropolitan areas, core neighborhoods often feature a diverse selection of properties with a wide price range. But be advised that in a given neighborhood, converted lofts and condominiums may arrive long before the amenities do; you may buy into the urban aesthetic but end up waiting a few years for jobs, restaurants and shops to follow your lead.

Urban LivingUrban areas are equipped with all the modern amenities. The modern-day facilities like the Internet, telephone, television and satellite communication facilities are widely available in the urban areas. A majority of the households of the urban areas are blessed with this technological advancement.The newly developing shopping complexes, theatres, food malls and restaurants are a commonplace in urban cities. Huge constructions, large housing complexes, skyscrapers are found in most of the urban metropolitan cities. Elevators, escalators, storeyed parking areas and towering constructions add to the magnificence of the urban cities.
Due to a greater availability of all the modern facilities along with an increase in the number of educational facilities and career opportunities, people of the urban areas lead an economically more stable and a luxurious life.

The increasing attraction of the people towards the urban parts of the world has resulted in crowding of urban areas. The increasing population, majority of which prefers settling in urban cities, has led to an imbalance in the density of human population. Excessive industrialization has invited environmental problems like pollution.

However, the rise in economic growth that has resulted in self-sufficiency in the common masses has resulted in a self-centered nature of society. While technological advancement has brought the world closer, human beings have gone far apart from each other. Buildings that touch the skies have built walls between people. The rise in prosperity has been eclipsed by the decline in peace.
Rural Living

Rural areas are not crowded with concrete constructions all over. Houses are rather widely spaced with ample room for fields and gardens. Rural areas are some of the only areas fortunate enough to house the greens. People in rural areas live in close proximity of nature. Apart from people, there is room for pets and grazing animals that help maintain equilibrium in nature.

Due to a relatively lesser number of people inhabiting the rural areas, the rural parts are not overcrowded by people. These areas are blessed to have least amounts of pollution. Due to afforestation and ample space for plantations, rural areas have managed to maintain an environmental balance. Pollution is less also on accounts of very less number of industries in rural areas.

The stress that results from a fast life in the urban areas is not a part of the peaceful and relatively slow paced life of the rural regions. The life may not be as lavishly led as that in the urban areas, but the people there are generous and their hearts have room for emotions. Rural are the ones where humanity is still alive.

Every coin has two sides to it. While the rural living is deprived of luxury and technology, it is rich in terms of its relationship with ‘nature’. The urban life is update in terms of technology and career prospects. However, the falling humane qualities and a disrupted environmental balance shadow the bright future of urban living.

High fuel prices and walkability are key factors in many downtown buyers’ decision.

The quintessential American dream used to include a suburban house with big yard, but homebuyers are increasingly dreaming of a walkable urban lifestyle along with their dog and two kids.
Flight from urban areas began after World War II, when thousands of returning soldiers and their young families needed inexpensive housing. In Leviitown, an early Long Island, N.Y., suburb, developers built more than 17,000 virtually identical Cape Cods. The development served as a model for later ‘burbs, and the middle class migration out of the city continued until a peak in the 1980s.
A decade ago, downtown dwellers were rare outside metropolitan hubs like Philadelphia, New York and Chicago. Today, even in a struggling real estate market, property values are high for downtown listings — and so is buyer demand.
“The housing market collapse really hasn’t impacted Denver urban buyers. Inventory is low, and lots of buyers are sitting on the sidelines waiting for a property,” says John Skrabec, owner of Live Urban Real Estate in Denver, Colo. “If a downtown home is priced right and shows well, it sells quickly.”
So what’s driving buyers towards the city? Changing demographics are part of the puzzle. The children of the first generation of suburbanites are now aging empty-nesters, and they’re increasingly trading in their plot of land in the suburbs for sleek downtown condos. The birth rate dropped by almost 50 percent between 1950 and 2000, so there are fewer families with children to fill the spots in suburbia.
Rising fuel costs are another major factor. After payments on mortgages or rent, owning and driving vehicles is the second-biggest expense for most households.
Housing costs tend to fall as you move further from urban employment centers, but transportation costs rise. Once you reach a certain distance, typically 12 to 15 miles from the city center, the increase in transportation costs outweigh the housing savings, according to a report from the Center for Neighborhood Technology. As fuel costs rise, living in the suburbs gets more and more costly.
Living in a walkable area with access to public transit also decreases the total number of miles you drive per year. According to the Housing and Transportation Index, an average downtown dweller in Boston’s Roxbury neighborhood drives average 7,000 miles per year. Though Dedham, Mass. is still in “greater Boston,” drivers there log almost three times as many miles on the odometer — an average of 20,500 per year. Urban living can save you thousands of dollars per year in fuel costs and vehicle maintenance.
The price difference makes the old real estate adage “drive till you qualify” seem as “outdated as buying a gas-guzzling SUV,” quipped a recent article from the Congress on New Urbansim. In a June 2008 Coldwell Banker survey, 78 percent of sales associates said that rising gas prices are increasing their clients’ desire to live in an urban setting. The agents also said clients had increased interest in walkable communities with access to public transit.
For the same reasons — walkability, shorter commutes and access to amenities — new urbanist towns and mixed-use suburban developments are becoming another attractive option for buyers. Throughout the United States, small neighborhoods that combine residential, retail, cultural and educational spaces, like Kentlands, Md.; Celebration, Fla. and Stapleton, Colo. are gaining in popularity.
“If gasoline and heating costs continue to rise, conventional suburban living may not be much of a bargain in the future, said Christopher B. Leinberger, an urban land use expert and real estate developer, in a recent article in The Atlantic Monthly. “And as more Americans, particularly affluent Americans, move into urban communities, families may find that some of the suburbs’ other big advantages — better schools and safer communities — have eroded.”
Over the next 20 years, developers will likely produce many millions of new and renovated townhouses, condos and small-lot houses — as well as modify current large-lot suburbs — to meet changing demands.

One of the more recent developments in the Austin real estate market are the multitude of loft condominiums springing up smack-right in the middle of downtown. This new push towards urban living reflects an interest in a pedestrian-oriented community, optimal for those who work in Austin’s business center, but also attractive to others who appreciate an abundance of amenities offered within walking distance. Downtown Austin has much to offer Austin residents, whether they work, live, or visit this area which truly represents the cultural heartbeat of the city.

Austin’s downtown is bursting with shops, cafes, galleries and nightlife. Whether looking for antiques at the beloved Whit Hanks, seeking esoteric ethnic treasures at Tesoros, or shopping for home furnishings at Bella Home or Zanzibar, the shops are local, and the wares are unique. In addition to Starbucks, there are plenty of cafes around, including Little City, and Drogo’s Cafe do Brazil. Art galleries, including Art on Fifth and Artworks, are scattered throughout the area, and the nightlife – well, it can’t be beat.

Most of the new lofts are far enough away from the entertainment districts to provide relative quiet, but are close enough to make a night out on the town just a short walk or cab ride away. The bars, music venues and restaurants of the famed Sixth Street district now have competition from the bustling young crowds of the Red River scene. The Warehouse District continues to be one of the most vibrant entertainment areas in the city, although the new 2nd Street shopping and dining area is thriving as well.

Downtown Austin is home to some of the finest restaurants in the city. Louie’s 106 has enticed downtowners with its Mediterranean tapas and steaks for years, and the Driskill Grill offers another close fine dining experience. Eddie V’s and McCormick & Schmick offer superlative seafood, and Sullivans, Ruth’s Chris Steak House and Fleming’s are top-notch steak houses. The varieties of food run the gamut as well – from Spanish food at Malaga, to Italian at La Traviata, from sushi at Kenichi or Kyoto to Southwestern cuisine at Z-Tejas.

One the most attractive parts about Austin’s downtown is its proximity to the nature and beauty found at Lady Bird Lake, as well as the Town Lake parks and trails. The plentiful outdoor activities provide the urban dweller with opportunities to walk, run, bike, and boat – all within walking distance of the sleek and sophisticated apartment buildings springing up. Waterloo Park, Republic Square, and other smaller patches of green add to the options for outdoor activity.

Downtowners will find their grocery needs admirably met by the flagship store of the Whole Foods Market chain. This Austin-based business launched their enormous new store in 2005, making fresh and organic produce, dairy, meats and seafood available. In addition to staples, an on-site bakery and international groceries, Whole Foods offers an abundance of prepared foods, from soups, salads and sandwiches, to pizza, seafood and a raw foods stand.

With all of life’s necessities within walking distance, it is no wonder that Downtown Austin real estate is thriving as a residential community.

Ki is an Austin real estate agent. He runs a site with information about Austin real estate and a search of the Austin MLS. He also talks about current events on Austin real estate blog.