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Old 09-02-2014, 07:32 AM
 
355 posts, read 808,090 times
Reputation: 215

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Quote:
Originally Posted by ChinoJedi View Post
Hi harprettwalia,

Hope you ended up buying a unit. I'm very bullish on the Wesmont Station development. Our pre-construction unit has already appreciated significantly since we put 10% down in April, and I expect it to only go up further once the train station completes and the development sheds it industrial history. Other nearby commercial developments that I am excited about include the American Dream mall in East Rutherford and the Teterboro Landing mall in Teterboro.

The wife and I both work in midtown Manhattan, and we have two young kids ourselves. Our biggest concern of the area is the average rated schools as well, but hey, you get what you pay for in terms of housing prices and property taxes (the 5 year property tax abatement was a nice add-on by Wood-Ridge). I'm optimistic that schools will improve as the town collects more property taxes from the development and more families like us move into the larger homes. At least the area demographics fulfilled our requirements, and Wood-Ridge will be substantially renovating the school buildings in 2014 and 2015.

Funny that you mentioned Rutherford. We almost bought a relatively new single-family home in Rutherford, but ended up deciding to wait for the Wesmont Station development. Rutherford housing quality was in general too old, the property taxes too high for anything relatively new, and the commute to midtown Manhattan not that great unless the home was located very close to Route 3 and the NJT buses.

You should take a look at these links if you haven't already for more details on Wood-Ridge/Wesmont Station:

Multifamily projects gain steam in Bergen County - Business - NorthJersey.com
http://www.njwoodridge.org/2014-3rd-Edition.pdf

Nearby development details:
Teterboro shopping center project heading to finish - Business - NorthJersey.com
American Dream developers unveil long-awaited makeover, target 2016 opening - News - NorthJersey.com
American Dream - Home
What what what? Umm you have to go throught THE Rutherford train station to get to Westmount. I agree with everything else you say about Rutherford but this is just wrong.
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Old 09-02-2014, 09:08 AM
 
Location: On the Rails in Northern NJ
12,381 posts, read 21,364,815 times
Reputation: 4482
Quote:
Originally Posted by imoapie View Post
What what what? Umm you have to go throught THE Rutherford train station to get to Westmount. I agree with everything else you say about Rutherford but this is just wrong.
Theres direct NJT bus service from Wood-Ridge to NY and garfield station is nearby. Basic research uncovers this....
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Old 09-02-2014, 09:03 PM
 
355 posts, read 808,090 times
Reputation: 215
Quote:
Originally Posted by Nexis4Jersey View Post
Theres direct NJT bus service from Wood-Ridge to NY and garfield station is nearby. Basic research uncovers this....
Thanks but I'm not really sure what you're getting at since I've been taking the 163 daily for the last 4 years. I'm well aware. My point was that rutherford is closer then westmount thus a better commute.
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Old 09-03-2014, 06:43 AM
 
181 posts, read 302,648 times
Reputation: 41
Quote:
Originally Posted by imoapie View Post
What what what? Umm you have to go throught THE Rutherford train station to get to Westmount. I agree with everything else you say about Rutherford but this is just wrong.
Ah, let me clarify. All the homes I saw in the Rutherford downtown area that were walkable to the train station (which very few were for sale given the established, non-transient family nature of the town, which I definitely liked) were either too old/historical or too small for my liking.
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Old 10-02-2014, 11:50 PM
 
24 posts, read 70,688 times
Reputation: 10
Default signed the contract with Pulte homes at Westmont station

Quote:
Originally Posted by ChinoJedi View Post
Hi harprettwalia,

Hope you ended up buying a unit. I'm very bullish on the Wesmont Station development. Our pre-construction unit has already appreciated significantly since we put 10% down in April, and I expect it to only go up further once the train station completes and the development sheds it industrial history. Other nearby commercial developments that I am excited about include the American Dream mall in East Rutherford and the Teterboro Landing mall in Teterboro.

The wife and I both work in midtown Manhattan, and we have two young kids ourselves. Our biggest concern of the area is the average rated schools as well, but hey, you get what you pay for in terms of housing prices and property taxes (the 5 year property tax abatement was a nice add-on by Wood-Ridge). I'm optimistic that schools will improve as the town collects more property taxes from the development and more families like us move into the larger homes. At least the area demographics fulfilled our requirements, and Wood-Ridge will be substantially renovating the school buildings in 2014 and 2015.

Funny that you mentioned Rutherford. We almost bought a relatively new single-family home in Rutherford, but ended up deciding to wait for the Wesmont Station development. Rutherford housing quality was in general too old, the property taxes too high for anything relatively new, and the commute to midtown Manhattan not that great unless the home was located very close to Route 3 and the NJT buses.

You should take a look at these links if you haven't already for more details on Wood-Ridge/Wesmont Station:

Multifamily projects gain steam in Bergen County - Business - NorthJersey.com
http://www.njwoodridge.org/2014-3rd-Edition.pdf

Nearby development details:
Teterboro shopping center project heading to finish - Business - NorthJersey.com
American Dream developers unveil long-awaited makeover, target 2016 opening - News - NorthJersey.com
American Dream - Home
Hi there, I have just signed the contract for the 3bd town home with Pulte, overall it seems like a very good deal with a potential to appreciate in price in the future. May I ask if anyone here had an experience with Pulte homes before? i saw that you already bought a home there, are you going to monitor the construction by hiring an independent inspector to make sure it is built according to all specifications? I am also interested to know how did you attorney review go, did you manage to modify the contract which is very one-sided as my attorney says . thanks a lot in advance, S
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Old 10-03-2014, 06:55 AM
 
181 posts, read 302,648 times
Reputation: 41
Quote:
Originally Posted by Sasha336 View Post
Hi there, I have just signed the contract for the 3bd town home with Pulte, overall it seems like a very good deal with a potential to appreciate in price in the future. May I ask if anyone here had an experience with Pulte homes before? i saw that you already bought a home there, are you going to monitor the construction by hiring an independent inspector to make sure it is built according to all specifications? I am also interested to know how did you attorney review go, did you manage to modify the contract which is very one-sided as my attorney says . thanks a lot in advance, S
Congrats, Sasha336. We'll be neighbors soon.

I haven't dealt with Pulte before, but I've been involved myself or through family with new construction purchases with other builders in NJ, NYC, and MD.

Independent inspector - I feel like this is a waste of money. As is standard with new homes, the home comes with a new construction 1-year warranty, and there is a punch list walkthrough right before closing. Pulte is a large publicly-traded national homebuilder that is building 200+ townhomes in this current phase of Wesmont, so I'm not worried about them violating building codes.

Attorney review - Yes, the contract is one-sided, but all new construction builder contracts are. We made minor modifications to our contract using a Pulte-recommended attorney. I read it thoroughly myself, didn't personally think it was that bad. At least the real estate transfer taxes are paid for by Pulte and not the homeowner, unlike my experience in NYC and MD. I think they are around 1% in NJ.
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Old 10-05-2014, 10:47 PM
 
24 posts, read 70,688 times
Reputation: 10
Quote:
Originally Posted by ChinoJedi View Post
Congrats, Sasha336. We'll be neighbors soon.

I haven't dealt with Pulte before, but I've been involved myself or through family with new construction purchases with other builders in NJ, NYC, and MD.

Independent inspector - I feel like this is a waste of money. As is standard with new homes, the home comes with a new construction 1-year warranty, and there is a punch list walkthrough right before closing. Pulte is a large publicly-traded national homebuilder that is building 200+ townhomes in this current phase of Wesmont, so I'm not worried about them violating building codes.

Attorney review - Yes, the contract is one-sided, but all new construction builder contracts are. We made minor modifications to our contract using a Pulte-recommended attorney. I read it thoroughly myself, didn't personally think it was that bad. At least the real estate transfer taxes are paid for by Pulte and not the homeowner, unlike my experience in NYC and MD. I think they are around 1% in NJ.
Thanks, Chinojedi, i have still decided to go with an inspector as it will hopefully give me peace of mind. by the way, someone had mentioned the environmental issues with the former plant, did anyone do a thorough research on the risks or checked if that has been properly addressed? I'm of worried that if any issue with contamination surface in the future, we will all be stuck with the properties we can't sell or live in
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Old 10-07-2014, 09:33 AM
 
181 posts, read 302,648 times
Reputation: 41
Quote:
Originally Posted by Sasha336 View Post
Thanks, Chinojedi, i have still decided to go with an inspector as it will hopefully give me peace of mind. by the way, someone had mentioned the environmental issues with the former plant, did anyone do a thorough research on the risks or checked if that has been properly addressed? I'm of worried that if any issue with contamination surface in the future, we will all be stuck with the properties we can't sell or live in
I didn't do thorough research on the environmental remediation, but I do know that getting it resolved per government standards, along with the Great Recession, was why the Wesmont Station development was delayed.

Somerset Development seems reputable, so I'm not particularly worried. And this development, once complete, will easily increase the population of Wood-Ridge by 1/3 or more and have a significant positive impact on their property tax revenues. So I think both the developer and town have common interests in seeing the continued long-term success of Wesmont Station.

And worst case scenario, that's what class-action lawyers are for
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Old 10-08-2014, 07:06 PM
 
Location: Wood Ridge
26 posts, read 74,284 times
Reputation: 13
I am so excited to finally find a forum about Westmont Station. My husband and I have been living at the Avalon for the last 2.5 years and really started to love the small town. We honestly had zero intention to purchase a home but once we saw the townhomes going up we decided to go take a look... we ended up putting an offer the next day. We decided to go with the Manchester style and have been visiting the site almost everyday (since we live across the street its become a habit). Like many of you, I also work in the city and this was a major factor in purchasing. The 163 bus is already very easy, but now the train will just make my life so much better since I detest walking through Port Authority.

I have done a ton of research on the area, hired attorneys to check everything, had my father come inspect the house (he's a general contractor) and everyone keeps coming to the same conclusion that this is a great buy. Even if we decide to leave in 7 years, the townhouse will be a great income property. It is hard for these houses to lose value when you are 25min outside the city.

I am intrigued about the contamination comments, I am looking this up right now. I am confident that the property owners have done their due diligence since Avalon and Pulte are massive companies that have the finances to do testing. But you never know... so I will let you know what I find out.

Lastly, I have asked a lot of people around town about the schools. I keep hearing that they are building new schools around this complex and that there is a very good 10 year plan to whip these into shape. I hope thats true, but since I do not have children yet we have a bit of time to get concerned.
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Old 10-08-2014, 08:11 PM
 
24 posts, read 70,688 times
Reputation: 10
Quote:
Originally Posted by Lovened View Post
I am so excited to finally find a forum about Westmont Station. My husband and I have been living at the Avalon for the last 2.5 years and really started to love the small town. We honestly had zero intention to purchase a home but once we saw the townhomes going up we decided to go take a look... we ended up putting an offer the next day. We decided to go with the Manchester style and have been visiting the site almost everyday (since we live across the street its become a habit). Like many of you, I also work in the city and this was a major factor in purchasing. The 163 bus is already very easy, but now the train will just make my life so much better since I detest walking through Port Authority.

I have done a ton of research on the area, hired attorneys to check everything, had my father come inspect the house (he's a general contractor) and everyone keeps coming to the same conclusion that this is a great buy. Even if we decide to leave in 7 years, the townhouse will be a great income property. It is hard for these houses to lose value when you are 25min outside the city.

I am intrigued about the contamination comments, I am looking this up right now. I am confident that the property owners have done their due diligence since Avalon and Pulte are massive companies that have the finances to do testing. But you never know... so I will let you know what I find out.

Lastly, I have asked a lot of people around town about the schools. I keep hearing that they are building new schools around this complex and that there is a very good 10 year plan to whip these into shape. I hope thats true, but since I do not have children yet we have a bit of time to get concerned.
so how long does it take from avalon to PA by bus? estimated launch of the new train station is somewhere in the fall 2015 so if i move in to our new home (also Manchester) in April next year, i will be taking a bus or train to Penn from woodridge train station.

Did anyone deal with radon testing before? I am ignorant on this hazard but Pulte has specifically mentioned it in the contract to tell that the owner will have to deal with this (they will only provide 500 dollars towards the equipment to reduce radon). my attorney attempted to change that in the contract and failed so I'm doing research on whether i am ready to take a risk.
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