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Is there a distinction in the value of homes and reputation of neighborhoods in Westfield that are above or below the train tracks? I've heard the areas above the tracks are more desirable and nicer than those below the tracks. True or false? Thoughts? Thanks.
Is there a distinction in the value of homes and reputation of neighborhoods in Westfield that are above or below the train tracks? I've heard the areas above the tracks are more desirable and nicer than those below the tracks. True or false? Thoughts? Thanks.
True. But I don't think there is anything wrong with the "other" side either. Just smaller houses in general.
There are nice neighborhoods on both sides of the tracks. If there is something that you are specifically looking at, have your realtor run the comps, so you won't feel that you're overpaying. Remember, the home will need to appraise.
I grew up on the South side of Westfield - and I turned out just fine. LOL!!! Really, I do think there is somewhat of a difference, but as far as value goes, either side of Westfield is a decent investment. Westfield has held it's value (as have Summit, Short Hills, Livingston, places with easy access to NYC). Sergio is right - have your realtor run comps so you can be comfortable with what you are spending.
True. The south side of the tracks is the less desireable part of town, but still the entire town is nice overall when compared with other towns.
That said, Westfield hasn't "held" its value (neither has Summit, Livingston, or other places with easy access to NYC). The entire NJ market is sinking and analysts have predicted prices will fall another 40% between now and 2011. Westfield isn't any different.
Make sure if you buy now you really love the house and are in it for the long term, because with house values continuing to sink you'll quite possibly end up underwater and unable to sell for years to come. Don't "settle" on any house just to get something -- if you're set on buying now, make sure you absolutely love it, without a shred of doubt in your mind. Good luck!
I guess I didn't make my point very well - I didn't mean that Westfield, and those other areas I mentioned, haven't lost value - real estate everywhere has come down - what I mean is that these areas are still as desirable as they always have been and will continue to be so. The depreciation that these areas (as well as northern Somerset County) have seen hasn't been nearly as significant as other areas in the state and in the country. Real estate is LOCAL - media reports are aggregate and often are national.
True. The south side of the tracks is the less desireable part of town, but still the entire town is nice overall when compared with other towns.
That said, Westfield hasn't "held" its value (neither has Summit, Livingston, or other places with easy access to NYC). The entire NJ market is sinking and analysts have predicted prices will fall another 40% between now and 2011. Westfield isn't any different.
Make sure if you buy now you really love the house and are in it for the long term, because with house values continuing to sink you'll quite possibly end up underwater and unable to sell for years to come. Don't "settle" on any house just to get something -- if you're set on buying now, make sure you absolutely love it, without a shred of doubt in your mind. Good luck!
The entire NJ market is sinking and analysts have predicted prices will fall another 40% between now and 2011. Westfield isn't any different.
Not to change the subject, but who said that?
40%? No way. Not unless we hit another full-on depression. Old housing stock in a populated area, that also happens to be highly desirable? never gonna happen.
condos in the arizona desert and florida swampland? Yeah. Westfield and summit? I wouldn't count on it.
PS - Westfield: great town all around! Pricey, but very nice.
I'll piggyback on the question from hobodbf. We are looking to move, and Westfield is the #1 town in our list, due to the quality of the schools and the very nice downtown area. I'd like to know if there are some areas in Westfield that I should totally avoid. To be more specific: We walked from Windsor avenue to Westfield Train station and I've noticed a few areas that did not look too nice, like a rental community that seemed to be in very bad shape. I'm not too worried about one side having bigger houses than the other, as we aren't looking for a McMansion anyways - a 3brd/2bthr will do it, but, on the other hand, I don't want to move to the, if you will, "wrong" part of the town and then have to worry about crime, etc... Thanks.
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Any areas on Westfield to be avoided?
