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Haha, nice try Marc, but median houses is not the only way to judge. I think the quality of house you will find in Mendham Boro for $600,000 is much better than what you will find in Madison at the same price. Madison has alot of small houses on small lots which bring down the median. Believe me, i'm actually looking into potentially moving there and am very disappointed in what is available at that price range. But truly compare apples to apples in the listings and see if you change your mind. I wasn't selling Mendham short though, i think its a beautiful town. Just reality that the lack of train brings prices down a little bit, otherwise it would be at least in Mountain Lakes territory.
Mendham is bucolic and wealthy, but somewhat remote. Downtown Mendham is small and does not offer anywhere near the shopping and services available to residents of Madison, Chatham, or Mountain Lakes. If you want to be near civilization, you would probably look in the Brookside section of Mendham Twp or Mendham Borough itself. Brookside is just northeast of the Borough so it is relatively close to "downtown" as it were. This is opinion, but I do not feel the downtown area of Mendham (the Borough) has the charm or convenience of the other areas. Mendham is also more insular than the other towns. Beyond the small downtown area, you have to drive for quite a spell to get to other towns, malls, etc. The schools are undoubtedly very good, but it does not sound like the Mendhams will appeal that much to your husband. It's really quite rural. And it's a decided hike to real civilization and activities beyond the tiny downtown. If you really like Mendham, concentrate on the Brookside area, at least it's fairly close to Morristown (15 minute drive). As far as pricing, your basic not too fancy 2,500-2,900 sqft 4 BR 3 Bath Colonial in Mendham or Madison will be about $600,000-$700,000. Chatham is pricier, about $800,000-$900,000. Mountain Lakes is in between, probably about $700,000. A really solid 3,500 sqft home in any of these areas will be just under $1,000,000 except in Chatham where you usually need about 20% more than the other towns for a similar product.
Although Marc really know his real estate figures, I am afraid Marc is not really familiar with life in Mendham and unfortunately is not accurate on a few things. Firstly, getting to Morristown from the eastern side of the Twp, (Brookside) or the Boro is quick. You can make it from the Kings Shopping center in the Boro to the Green in Morristown in just under 10 minutes. (non rush hour) As far as access to shopping, that is easy and convenient as well. As mentioned Morristown is 10 min away, from the Kings shopping center in the Boro you can also get to downtown Chester shopping in 15 min, Bernardsville in 15 min, There are also stores in Randolph, around the intersections of Sussex & Millbrook and Sussex & Calais which are also reachable in ~15 min. For the big box stores you will have to go around 25 min. I think Marc is also not familiar with all the stores located in the Boro. Pretty much most of your regular shopping needs can be met either in town or within a short drive. The Boro is home to not only a grocery store, but 2 pharmacies, (one of which although locally owned offers a wide array of items much like a CVS, with gifts, toys, upscale cosmetics, stuffed animals, boutique items, etc.) a lumber/hardware store, Nursery/garden center, several clothing stores, a sporting goods store, Karate school, several delis/coffee shops, numerous restaurants and banks, an independent book store, art/frame shop and more. Mendham is also situated pretty much in the middle of three malls - Bridgewater Commons, (30 min) Short Hills (30 min) and Rockaway Townsquare (35/40 min) All times given are non rush hour.
As Mendham Twp surrounds the Borough getting from the Twp to the Borough for the most part is quick and easy, though in the far corners of the Twp it will take a few minutes.
Although Marc really know his real estate figures, I am afraid Marc is not really familiar with life in Mendham and unfortunately is not accurate on a few things. Firstly, getting to Morristown from the eastern side of the Twp, (Brookside) or the Boro is quick. You can make it from the Kings Shopping center in the Boro to the Green in Morristown in just under 10 minutes. (non rush hour) As far as access to shopping, that is easy and convenient as well. As mentioned Morristown is 10 min away, from the Kings shopping center in the Boro you can also get to downtown Chester shopping in 15 min, Bernardsville in 15 min, There are also stores in Randolph, around the intersections of Sussex & Millbrook and Sussex & Calais which are also reachable in ~15 min. For the big box stores you will have to go around 25 min. I think Marc is also not familiar with all the stores located in the Boro. Pretty much most of your regular shopping needs can be met either in town or within a short drive. The Boro is home to not only a grocery store, but 2 pharmacies, (one of which although locally owned offers a wide array of items much like a CVS, with gifts, toys, upscale cosmetics, stuffed animals, boutique items, etc.) a lumber/hardware store, Nursery/garden center, several clothing stores, a sporting goods store, Karate school, several delis/coffee shops, numerous restaurants and banks, an independent book store, art/frame shop and more. Mendham is also situated pretty much in the middle of three malls - Bridgewater Commons, (30 min) Short Hills (30 min) and Rockaway Townsquare (35/40 min) All times given are non rush hour.
As Mendham Twp surrounds the Borough getting from the Twp to the Borough for the most part is quick and easy, though in the far corners of the Twp it will take a few minutes.
You have just been elected to the Chamber of Commerce!
Haha, nice try Marc, but median houses is not the only way to judge. I think the quality of house you will find in Mendham Boro for $600,000 is much better than what you will find in Madison at the same price. Madison has alot of small houses on small lots which bring down the median. Believe me, i'm actually looking into potentially moving there and am very disappointed in what is available at that price range. But truly compare apples to apples in the listings and see if you change your mind. I wasn't selling Mendham short though, i think its a beautiful town. Just reality that the lack of train brings prices down a little bit, otherwise it would be at least in Mountain Lakes territory.
Actually you can never really apple-to-apple with real estate, because location is such a critical component of what is offered by a piece of real estate. The same identical house in two locations has totally dissimilar utility to any given buyer.
Nonetheless, you can use median home price to get an idea of values in an area, and Madison is not as prestigious or pricey as the other areas in question. It's one of the less expensive of the pricey towns. A good comparison locationally would be Madison Borough to Chatham Borough, which you pointed out. In that scenario, Chatham has the more expensive housing stock by about 20%. Let's take the prototypical 3-4BR Cape. In Madison, the range for that home is $275,000-$610,000 with a median of $425,000. In Chatham, the range is $330,000 to $740,000 with a median of $510,000. And lot sizes in both boroughs are similar, so the difference in price is purely locational demand.
Can't go wrong in any of these areas though. They all have the schools and the quality of life that most people are after.
Although Marc really know his real estate figures, I am afraid Marc is not really familiar with life in Mendham and unfortunately is not accurate on a few things. Firstly, getting to Morristown from the eastern side of the Twp, (Brookside) or the Boro is quick. You can make it from the Kings Shopping center in the Boro to the Green in Morristown in just under 10 minutes. (non rush hour) As far as access to shopping, that is easy and convenient as well. As mentioned Morristown is 10 min away, from the Kings shopping center in the Boro you can also get to downtown Chester shopping in 15 min, Bernardsville in 15 min, There are also stores in Randolph, around the intersections of Sussex & Millbrook and Sussex & Calais which are also reachable in ~15 min. For the big box stores you will have to go around 25 min. I think Marc is also not familiar with all the stores located in the Boro. Pretty much most of your regular shopping needs can be met either in town or within a short drive. The Boro is home to not only a grocery store, but 2 pharmacies, (one of which although locally owned offers a wide array of items much like a CVS, with gifts, toys, upscale cosmetics, stuffed animals, boutique items, etc.) a lumber/hardware store, Nursery/garden center, several clothing stores, a sporting goods store, Karate school, several delis/coffee shops, numerous restaurants and banks, an independent book store, art/frame shop and more. Mendham is also situated pretty much in the middle of three malls - Bridgewater Commons, (30 min) Short Hills (30 min) and Rockaway Townsquare (35/40 min) All times given are non rush hour.
As Mendham Twp surrounds the Borough getting from the Twp to the Borough for the most part is quick and easy, though in the far corners of the Twp it will take a few minutes.
Keep in mind that I am observing the situation under the auspices of the parameters given to us by our Internet buyer. The husband likes the city, she likes the country. Mendham is definitely the country when compared with the thriving metropolises of Madison and Chatham. Or even Mountain Lakes. 30 minutes to the malls and 15 minutes to Morristown under non rush hour conditions is not going to appeal to someone with a suburban affection. We need single digit drive times to lots of commercial alternatives. The train towns offer that, while still providing a bucolic atmosphere. Mendham is great, but it's horse country! And the downtown is cute, but really limited. I couldn't find a decent head shop or tatoo parlor anywhere the last time I was looking. And you might be able to get to Kings in Morristown from the Borough on Saturday morning in 10 minutes, but I don't drive on the shoulder, it's too dangerous.
And you might be able to get to Kings in Morristown from the Borough on Saturday morning in 10 minutes, but I don't drive on the shoulder, it's too dangerous.
Actually, to shop at Kings, you do not have to leave Mendham, as there is one located in the Borough. Also driving from the Kings shopping center in Mendham to the Green in Morristown takes me just under 10 minutes non rush hour, adhering to all speed limits. (maybe 12 min if I hit the light at Cold Hill Rd as it turns red) I do the drive all the time. I can also proudly say I have never gotten a speeding ticket, nor even pulled over for one, even though Mendham is notorious for aggressively enforcing the speed limits.
As far as getting to the train station, it takes me approx 15 min to the Morristown station from the Kings parking lot in Mendham and about the same to the either the Bernardsville or Peapack/Gladstone stations, all of which are on the midtown direct line. (again non rush hour)
Just to add additional info, Mt Lakes does have the advantage of the train station, but then it does not offer any downtown/shopping, for that you have to go to either Denville, Boonton, or Parsippany, (all short drives) Madison and Chatham Borough have the advantage of having both walkable down towns and trains stations. All the communities do have top tier schools and are pretty much on par with the exception that Mendham HS offers the International Baccalaureate program.
KoalaNJ
Also, I kinda doubt the OP is looking for a head shop, but I could be wrong. And last I knew, neither Mt. Lakes, Madison or Chatham have tattoo parlors either. There is one in Morristown, as well as one in Denville, so they are just a short drive away from the communities under consideration.
Also keep in mind that the Boonton-Mountain Lakes high school sharing agreement has to be voted on every few years. I think the next vote is coming up next year. While it is highly unlikely that the arrangement will not be approved, it is never a certainty. If it were ever to be dissolved for some unforseen reason, values in Boonton Twp would probably take a large hit. The Mountain Lakes High School connection is a key value component to living in Boonton Twp.
Don't think either could survive without the other but point well taken.
Actually, to shop at Kings, you do not have to leave Mendham, as there is one located in the Borough. Also driving from the Kings shopping center in Mendham to the Green in Morristown takes me just under 10 minutes non rush hour, adhering to all speed limits. (maybe 12 min if I hit the light at Cold Hill Rd as it turns red) I do the drive all the time. I can also proudly say I have never gotten a speeding ticket, nor even pulled over for one, even though Mendham is notorious for aggressively enforcing the speed limits.
As far as getting to the train station, it takes me approx 15 min to the Morristown station from the Kings parking lot in Mendham and about the same to the either the Bernardsville or Peapack/Gladstone stations, all of which are on the midtown direct line. (again non rush hour)
Just to add additional info, Mt Lakes does have the advantage of the train station, but then it does not offer any downtown/shopping, for that you have to go to either Denville, Boonton, or Parsippany, (all short drives) Madison and Chatham Borough have the advantage of having both walkable down towns and trains stations. All the communities do have top tier schools and are pretty much on par with the exception that Mendham HS offers the International Baccalaureate program.
KoalaNJ
Also, I kinda doubt the OP is looking for a head shop, but I could be wrong. And last I knew, neither Mt. Lakes, Madison or Chatham have tattoo parlors either. There is one in Morristown, as well as one in Denville, so they are just a short drive away from the communities under consideration.
I misread, thought you timed the 10 minutes to Kings, you said 10 minutes to the Green. Obviously (I thought) kidding on the head shop and tattoos. I hope your apparently serious response was a deadpan. Maybe I should have substituted massage parlor for tattoo parlor? Edgier joke, though in poorer taste...
The high end houses in Mendham (many $2.0M and up) in Mendham drive up the average sold price.
Which is why I utilize the median. Big and small sales don't get overweighted. Wanna hear a shocker? Which shows how times have changed. There have been 74 homes that have sold in tony Mendham Twp over the past year. You know how many were over 2 million? Only Two! The highest sale was 2.56 million for a home on Bittersweet Ln. with 18 rooms, 5 bedrooms, and 8.5 baths on 10.09 acres. A few years ago a house like this would have been listed for $4,000,000 plus.
Here is another one. Get out the digitalis. In the past year. 54 out of 74 homes in Mendham Twp sold for less than $1 million. That's about 73%.
In 2007 what do you think that number was? 38 out of 81. Only 46% sold for less than 1 MIL. A shocking and disturbing reversal of fortune.
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