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Old 06-14-2017, 05:20 PM
 
4,122 posts, read 1,482,661 times
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Denver. Do the research...
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Old 06-14-2017, 06:01 PM
 
Location: Beverly Hills, CA
25 posts, read 7,874 times
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Quote:
Originally Posted by mdog5 View Post
Just because an area is expensive already doesn't mean it is a bad investment.. Actually, I'd say that Short Hills / Millburn, if you can afford it, has investment benefits mainly because of the liquidity. If you have a well priced house in a good location (the Glenwood area for example), it will fly off the market. Also, the areas that are most expensive are so because of the demand - typically this will mean last to dive and quickest to recover from macro economic fluctuations....
How do you compare Short Hills with Great Neck, NY and Scarsdale, NY?
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Old 06-14-2017, 08:54 PM
 
24 posts, read 6,035 times
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Not in New Jersey, there's your unfiltered answer.
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Old 06-14-2017, 10:32 PM
 
Location: Beverly Hills, CA
25 posts, read 7,874 times
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Originally Posted by Eristic1 View Post
Not in New Jersey, there's your unfiltered answer.
So how about Great Neck, NY and Scarsdale, NY?
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Old 06-14-2017, 10:48 PM
 
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Originally Posted by RafaelNadal View Post
So how about Great Neck, NY and Scarsdale, NY?
Admittedly not educated in those areas so I can't say.
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Old 06-15-2017, 08:29 AM
 
557 posts, read 335,987 times
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If you look at price appreciation, won't look at NJ. Total disaster. Haven't you experienced the recent meltdown of NJ transit? If you look at the price trend over the past decade, NJ is still well below the peak. NJ real estate is a terrible investment. If you want to have good price appreciation, you have to look at NYC itself. Queens or BK is the best bet.
A similarly priced house back in 2000 would have more than doubled in price in Queens, but in NJ, it has barely increased in price.
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Old 06-15-2017, 10:11 AM
 
Location: Beverly Hills, CA
25 posts, read 7,874 times
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Quote:
Originally Posted by gen2010 View Post
If you look at price appreciation, won't look at NJ. Total disaster. Haven't you experienced the recent meltdown of NJ transit? If you look at the price trend over the past decade, NJ is still well below the peak. NJ real estate is a terrible investment. If you want to have good price appreciation, you have to look at NYC itself. Queens or BK is the best bet.
A similarly priced house back in 2000 would have more than doubled in price in Queens, but in NJ, it has barely increased in price.
How about NYC suburban? Now I consider towns with top school district only, e.g. Short Hills, NJ; Scarsdale, NY.
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Old 06-15-2017, 10:19 AM
 
Location: NJ
3,283 posts, read 7,212,515 times
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Quote:
Originally Posted by gen2010 View Post
If you look at price appreciation, won't look at NJ. Total disaster. Haven't you experienced the recent meltdown of NJ transit? If you look at the price trend over the past decade, NJ is still well below the peak. NJ real estate is a terrible investment.
.
This isn't true everywhere. Just look at towns like Montclair and Maplewood. Houses there are selling in a day or two at well over asking price. In West Orange there was a house that sold on my street and flipped for over 100K profit. My other neighbor sold their house in 3 days at 20K over asking price. They netted over 100K in equity in just a few years.
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Old 06-15-2017, 10:37 AM
 
1,841 posts, read 1,017,259 times
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The thing that nobody is saying is that the house is only going to be worth what the buyers will pay when the time comes. We underbid our house and got it. Two years later there's been probably a 50K swing in the value. But I'm not counting that money because I'm not selling the house. Should it swing back down when I go to sell in 20 years then there's been zero appreciation no matter what else happened between now and then.

Buy a house for a house. You cannot count on appreciation potential.
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Old 06-15-2017, 02:05 PM
 
557 posts, read 335,987 times
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In those few years, many NYC properties simply doubled. My property in Queens already appreciated 200k since i bought it last summer

Quote:
Originally Posted by ansky View Post
This isn't true everywhere. Just look at towns like Montclair and Maplewood. Houses there are selling in a day or two at well over asking price. In West Orange there was a house that sold on my street and flipped for over 100K profit. My other neighbor sold their house in 3 days at 20K over asking price. They netted over 100K in equity in just a few years.
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