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Old 05-11-2008, 10:03 PM
 
15 posts, read 37,308 times
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My in-laws just moved to Cranford and it seems like a really great town. Very quaint and yet close to NYC (relatively)

Westfield is great, really great town center, but is pricey. The old AT&T row towns - Summit, New Providence, Berkley Heights, Basking Ridge, etc etc are all lovely, but very pricey and, I think, too far if your goal is renting. If you're renting, you might as well rent close.

As far as buy vs rent, Ill tell you now that I think this is not a great time to buy. The banks are making credit very difficult, rates are good, but not so amazing considering, property values WILL continue to deflate until the median US home price has lost about 35% from where it was at the height (mark my words on that one), and many parts of NJ were VERY inflated by idiots who thought they could handle mortgages WAY beyond their means.

Also, the soft values right now, excess inventory, and foreclosure pressure is leading to a LOT of attractively priced rental units that normally wouldnt be there. Many who do not HAVE to sell a property and take a loss, are choosing to keep it for rental income (hoping it will increase again soon, which it wont, but thats not your problem as a renter).

When the market FULLY bottoms out in another year or so, it MIGHT be a decent time to consider buying IF the economy isnt completely screwed and your employment situation is solid. The banks will NOT be returning to the cowboy ways that ended up burying us all, however, so expect to have to save up REAL down payments again (20%). This is a GOOD thing, btw.

My advice to anyone who doesnt HAVE to sell/buy right now is to rent for a few years (looking for the good deals), save save save, build your credit, and then see what the broader economy looks like down the road.
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Old 05-11-2008, 10:09 PM
 
786 posts, read 2,180,639 times
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Originally Posted by mlambert890 View Post
My in-laws just moved to Cranford and it seems like a really great town. Very quaint and yet close to NYC (relatively)
Tell them welcome....

And be sure to sign this petition to make sure the town continues to remain "quaint"...

No To The Cranford Swim Club Cell Tower Petition
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Old 09-24-2008, 02:53 PM
 
Location: Hackensack, NJ
8 posts, read 15,570 times
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Quote:
Originally Posted by Dorian View Post
I have been reshearching information on good neighborhoods for young families in the NYC metro area. I've heard good things about alot of different neighborhoods. My situation is that I have two little boys one is 4 years old(he will be 5 when we plan to move) and the other is 2 months(he will be one) and my fiancee. I will be just working when we first move there then eventually I will be attending school probably a community college at first then transferring to Rutgers to cut cost down. She already has a degree and is already applying and interviewing for a job in the city. I was told before in a previous post about some nice towns in New Jersey like Edgewater, Cliffside Park, Hoboken, Jersey City, Fort Lee, Weehawken, West New York, Elizabeth, Edison, Union City, and etc. and nice neighborhoods all over the five broughs in the city itself. Now that I can be more specific I figured I could get better info. We are looking for a place to rent that is at least 2 bedrooms(I would perfer 3 bedrooms) for less than $2000 a month, maybe a bit higher if necessary like $2500 in a neighborhood that isn't to dangerous and has decent transportation to the city and New Brunswick like train or bus with driving being an option. I looked on craigslist at places in the area and I seen some places in the price range in Newark, Elizabeth, Harrison, Kearny, Journal square district of JC, parts of Brooklyn, parts of Queens, Stanten Island, and in Yonkers. I have seen on tv and heard about people from out of town getting real estate agents to help them find a place and I was wondering do they cover the whole area or just the city itself? Is it better to rent in the city or in jersey? I will be visiting a few times this summer so any suggestions of neighborhoods would be helpful. I am losing my mind trying to find the best neighborhoods. Please help!!!!!
I have lived in Cliffside Park, Fairview and New Brunswick and would def. go with New Brunswick, Highland Park area if I were you especially if you are going to Rutgers. Cliffside park is great and has good school and housing in your price range but no public transport to New Brunswick. For that, you need to be near a train station- consider Montcair or Morristown, although these two are further away from NYC but are great towns. Other good towns are Fairlawn or Elmwood Park- and are near train lines
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