Do Rankings Matter?

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Forbes Magazine recently came out with its annual list of the priciest zip codes in the United States.  But, has the economic downturn made these areas less exclusive?  Rank one was awarded to Duarte, California.  West Village (10014) is once again New York’s most expensive zip code but fell to rank five from rank three last year, with the median property value of $3.795 million.  Furthermore, the Upper East Side is rank seven, Soho/Noho is rank nine, Tribeca is rank twelve, and East Village is rank twenty two. 

These rankings do not seem to alter or affect the quality of the neighborhoods, but they certainly do alter the mind stage of an investor.  A potential investor will be more likely to invest in a property in one of these neighborhoods after it has been listed in one of the most prestigious magazines.