Title

So you need to commute to NYC and you can’t spend $1Million on a house??? Check out these GREAT New Jeresy neighborhoods – in these midtown direct “walk to train” locations!

What a day! 3 open houses on our three new listings – Two are getting at least one offer, and we had 27-30 people at each one.  All three of these homes are priced in the $500’s.  My team was also booked all weekend with buyers. What does all of this mean?

1. There has been so much pent up demand for great AFFORDABLE homes that  the nice ones that are priced right  are flying off the market.

2. The entry level market has now come down to a level where buyers can jump into the market. Of course the low interest rates have added the cherry on the top.

3. Even in a “buyer’s market”, you will always be able to re-sell a well priced home with close proximity to trains to NYC. This is what most buyers moving out from NYC are looking for.

4. Has this segment of the market hit bottom?

So where can you find these more affordable homes? Below are neighborhoods in each of the midtown direct trainline towns that are under a mile to the train.

• South Orange – South of South Orange Ave, there are two neighborhoods that are easily walkable and you can find housing that won’t break the bank. The area between Walton Rd and Wyoming Ave is one ( Conway Ct, Rynda, West End Rd, Lenox Ave to name a few streets) and the streets surrounding Seton Hall University are the other. North of South Orange Ave there are the Hart Dr ranch homes, and further north you can occasionally find a smaller home nestled amongst the larger ones off of Wyoming Ave.  The same would be true of the Montrose Section.

• Maplewood- Much of Maplewood fits the bill and that’s why so many buyers move here from Park Slope, Brooklyn, and NYC.  East of Valley Rd, across from Memorial Park, is  very popular among the “walk to train” crowd. Here are two examples:  www.sueadler.com/35Kensington and www.sueadler.com/36Madison Houses within a few blocks of Maplewood Village may be in the $500k-700k range, but they don’t seem to come on the market very often. There are homes on Jefferson Ave and some of the surrounding streets such as Brookside Rd, have sold in the $500k’s and 600’s as well.

• Millburn- The South Mountain Section and Wyoming Sections are the two largest neighborhoods that are “walk to  train,  town, Taylor Park, Wyoming Elem or South Mountain Elem, middle and high school ”. There are also many small streets off of Millburn Ave that are close by as well.Homes range from the $400k’s to the 800k’s with a few exceptions in the South Mountain Section.In the Wyoming Section you can easily find homes in this range, but there are also more expensive homes over $1Million.

• Short Hills - The Glenwood Section ( where I live!) is the perfect place to be – walk to Glenwood Elem and top rated Millburn HS, Short Hills train station, and Millburn Ave restaurants and shops. Most homes range from the 600k’s to the $1Million range, but certain streets wth larger homes and properties such as Pine Terrace East  command much more. www.sueadler.com/11PineTerraceEast Generally speaking, the Glenwood Section runs between the Short Hills Train Station and Millburn Ave. The main roads running through are Woodland Rd, Baltusrol Way, and Short Hills Ave, with many small charming treelined streets in between. The Knollwood Section, behind the Millburn Middle School, is also similar in price to Glenwood. This neighborhood  comes in between Hobart Avenue and Old Short Hills Rd – Whitney Dr, Midhurst Dr, Haddonfield Drive are a few of the streets you find in this storybook enclave of charming colonials and tudors.

• Summit Most of the areas surrounding the Summit Train Station tend to be a bit pricier however there are certain streets close to the train station that do turn out homes for under $900,000. To name a few, Mountain Ave and Ashland Rd- south of the Summit Train station, and Waldron Ave, and DeBary Place- north of the station. I do need to mention a neighborhood that is just over a mile, but with comparable homes to the Glenwood and South Mountain homes in Millburn/Short Hills. Its the Memorial Field area by Brayton Elementary School. Don’t overlook this neighborhood if you’re looking for an awesome neighborhood in a great school district.

• Chatham Boro – The nice thing about Chatham Boro is that almost all of it is within a mile of the Chatham Train Station. The Station is located just off Fairmount Dr and Main Street so its central location and stellar school system, makes it a sought after town. The majority of homes in the Boro are in the “affordable” range and are close to Main Street shops and restaurants, and elementary schools as well.

• Madison -The Madison Train Station is situated between Waverly Rd and Greenwood Rd, just south of Main Street. On the northern side of Main Street in Madison you can easily find 3 to 4 bedroom homes starting in the $400’s, and ranging up to over $1M. Because Madison is home to Drew University, Main Street feels much like a college town with a jazz bar, trendy shops and a wide variety of restaurants.

So, there you have it! If you want to see your options in person, just give me a call (973)464-9129.

Yours to count on,

Sue Adler

Share     

This entry was posted on Sunday, February 1st, 2009 at 11:29 pm and is filed under Buying a home in this market, Chatham, Communities, Commuting Info, Madison, Maplewood, Millburn-Short Hills, South Orange, Sue's Picks, Summit. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

Leave a Reply

Name (required)

Email (will not be published) (required)

Website