Upside Potential in Desirable Neighborhood Wanted

I came across an Active Rain post today comparing the reason for buying a property – is it the house or is it the neighborhood?  Quite frankly, I don’t know anyone who buys a house without thinking about the neighborhood.  Then there’s always the location within the neighborhood consideration.  Here are a couple Half Moon Bay neighborhoods where I’ve identified a property in each of these areas that offers good upside potential . . .

Alsace Lorraine – 435 Garcia. REO asking $605,625 for a 3 bedroom, 2.5 bathroom in approx. 1750 sq. ft.  There are 7 homes for sale in this neighborhood.

Kehoe / Casa Del Mar – 403 Wave.  Asking $648,000 for a 3 bedroom, 2 bathroom in approx. 1800 sq. ft.  There are 7 homes for sale in this neighborhood.

Both of these are walking distance to beaches and downtown Half Moon Bay, CA.