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I'm not really sure of the question. Do you think that the "good" properties were priced lower a year or two ago? They weren't, for the most part. Prices have leveled out, and some places may be seeing a minor up-tick in prices, but it's not like prices have jumped back up to 2007 levels. And with the interest rates where they are now, chances are good that the same monthly payment will get you more house than it would have a year or two ago.
i don't have a basis of comparison except the media, for ex. Money Magazine "Housing is Back") so i don't know which is why i'm posting.
on q#2 what is middle-priced - 550-600000 but not a penny more than 600000 <i don't have a penny more> . i'm not saying that's middle in short hills, but a 3-4 b/r , 2-3 bath is the ballpark.
other poster on subject of morris township, i like the place and taxes are morris but my middle might not be your middle there.
i guess i expected more after easter. i hope most recent poster is right about more coming on.
i don't have a basis of comparison except the media, for ex. Money Magazine "Housing is Back") so i don't know which is why i'm posting.
on q#2 what is middle-priced - 550-600000 but not a penny more than 600000 <i don't have a penny more> . i'm not saying that's middle in short hills, but a 3-4 b/r , 2-3 bath is the ballpark.
other poster on subject of morris township, i like the place and taxes are morris but my middle might not be your middle there.
i guess i expected more after easter. i hope most recent poster is right about more coming on.
Don't worry. The Spring market lasts right through June. And even in July through Sept there is only a dropoff of about 25% in listing activity. The only really slow months are October, November, and December. And even then you see listing activity at a rate of about 3/8 of the busy months.
How long have you been looking? We were in a similar position couple of years ago. The initial reaction was, why would anyone ever pay so much for an old or small house just because its in town x? But we looked for over a year in several towns esp in union county, so finally when we saw a house that fit our budget (600k) we went for it. Was it a good decision? My commute from Cranford to PABT is great. I hope we find the schools to be as great as we've heard everyone say, let's see. The taxes are super high here.
Some of my friends who live further south in Middlesex/mercer county still can't believe we didn't choose a newer larger home elsewhere, but this was our choice. I haven't seen an uber-friendly vibe, but then everyone is polite and smiles yes there is the odd person who will look through you even though our kids are at the same daycare, but I don't blame the town for that
Took me about 2 years looking to buy a house. your dream house is out there, just keep looking.
Make sure you understand the cost of ownership in NJ. AKA property tax is very very very very high. I don't know what others are paying, my increase 6 to 8% per years, now up 20% in just 3 years. In additional, Cranford has a new sewer tax that was part of property tax when I first moved in. Who know how much more creative out politicians are when it come to get our money into their packets.
I thought we were going to have trouble finding a home in NJ (job transfer from Southern CA) but we lucked out finding one on our 1st house hunting trip. Looked at 23 homes in 2 days with a great realtor...found what we were looking for in Mt Lakes, and scooped it up....we are moving in 3 weeks....
Keep looking, its out there.....I can't imagine how much easier it would've been if we were already in NJ....did a lot of internet MLS listing seraches...community profiles, etc....by all accounts it seems Mt Lakes is a nice place to live..
Good properties move FAST, that's why it seems that only the duds are left. Average days-on-market is down 11% in Morris, 2% in Essex. Avg price is up 3.5% in Morris... 9.2% in Essex as of April 30.
Bidding wars are back, inventory is at lows we have not seen since 1999.
Move fast if you like a house, and prepare to pay at or near asking.
While you may have missed the true bottom of the market, we are only starting to climb back. Buy now, you will be in good shape.
wow, fantasy has become reality. so many of the medium priced homes in the good towns in union, Essex and morris counties have something wrong with them.
near a highway or
-on a main thoroughfare
-near water or flood area
I signed on w/ an agent but want to ask for other viewpoints. am I a year or two too late?
Hate to break it to you, and I am NOT putting you down, but the problem is probably you. You see a house for $XXX and you like it, but it is on a major road. Then you expect to find the same house on a quiet street for the same price. So are a bunch of other people and they bid up the price. Almost everyone looking for a house ends up thinking they need the house just a little out of their reach. Doesn't matter if their budget is $400K, $600K or $1M. They see the best house they can for what they can afford and since no home is perfect, they end up wanting a similar house for the same price but with those 1 or 2 "problems" fixed. Well, those "problems" are factored into the price. People really need to look at some houses below their max price, and refuse to look at one at the top of their budget. Then when they get fed up with what is out there, bump up their budget and then they will find out how much they like these other houses that they would have hated if they were the first ones that they saw
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yes there is the odd person who will look through you even though our kids are at the same daycare, but I don't blame the town for that 
