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Anybody know a good website for comparables in the Morristown, Morris Twp and Morris Plains areas?
Also, anybody have a feel for what real estate is doing in those towns. I thought it was still a buyer's market, but several agents have insisted the real estate market has picked up and we shouldn't expect to have much room to negotiate with list prices and infact new listings will likely have a 5-6% increase in the next several months. Now, of course I realize that agents are not always truthful, but I don't want to pass on a place thinking something better is out there, nor do I want to pay too much for something on a fear that prices are gonna increase. I simply want to be well informed.
Last question -- if you live in these towns what do you pay for sewer/garbage, etc?
Anybody know a good website for comparables in the Morristown, Morris Twp and Morris Plains areas?
Also, anybody have a feel for what real estate is doing in those towns. I thought it was still a buyer's market, but several agents have insisted the real estate market has picked up and we shouldn't expect to have much room to negotiate with list prices and infact new listings will likely have a 5-6% increase in the next several months. Now, of course I realize that agents are not always truthful, but I don't want to pass on a place thinking something better is out there, nor do I want to pay too much for something on a fear that prices are gonna increase. I simply want to be well informed.
Last question -- if you live in these towns what do you pay for sewer/garbage, etc?
Thanks to all who can provide any information.
I am looking in the Florham Park area which is around Morris Plains/Morristown. I have been told the market has "stabilized". Realize that since Morris County is a desirable area and many towns are commutable to NYC, there will be a good market for these homes. I am sure there is room for negotiatons, especially if a home has been on the market for more than 2 months. I am also looking at homes in Monmouth County and the realtor has given me a slightly different picture - homes are on the market longer (possibly an average of 4 months) and there is some wiggle room. Some areas of Monmouth are commutable to NYC as well. Also, like Morris, some parts of Monmouth welcome big companies into their towns, so there is less tax burden on residents in those towns. In Holmdel, for example, I saw property with an acre of land with $9,000 in taxes, where I pay the same for a third of an acre in Union County.
Dooga, there is no web site in the world that can help you! NONE!
Find a Realtor you trust, they all have access to TIMELY comps that will help you descide what is a reasonable price for a property. Keep in mind that the areas you have chosen are some of the most sought after and come with a high price tag!
Get a Realtor referral from a friend or family member because then the Realtor has there reputation to up hold and will work with you rather than for you.
Something to consider is the High school. Morristown High School is a feeder school that towns like Morris Plains and Morris Township send their kids to. MHS has definitely gone down in quality in recent years. There has been a large influx of Hispanics into Morristown, especially Colombians, and they often get into fights, (think: knife fights) with the black students during the school day.
While you can still get a pretty good education coming out of MHS, the quality of the school's reputation seems to have definitely declined.
Unfortunately, I agree with you Mead. 2 of my kids graduated, 2 are in the HS now, and 1 more to go. I am seriously considering moving. I thought I'd have a hard time with getting my kids to move, but surprisingly, they are not adverse to the idea. It's too bad, because the HS has so much to offer and the education the students receive is excellent, but......kids can't be afraid to go to school. And I'm getting a little tired of my taxes going to teach English to students whose parents don't pay any taxes at all.
Take a look at Hanover township, good town, good schools, lowest tax rate in Morris county and adjacent to all those 3 towns you mentioned. If I'm not mistaken NJ Monthly magazine puts out annual surveys ratings the towns in NJ. I don't subscribe so i don't know for sure, but I know when factored in taxes, quality of life, schools, etc... they rated Hanover 1st on their list a few years back.
Someone on another thread recommended the site / (broken link)
You can search for homesale prices by town or even by street. While you won't be able to compare according to square footage, # beds, etc., if a house you've identified is similar to those on the same block, you'll get a good sense of what's a fair price.
We're considering the same towns you are, among others ... does anyone know whether the violence that has plagued MHS is an issue in the town in general? How about the elementary and middle schools? I was surprised to learn that Morristown has a higher crime index than other towns with similar demographics (like Montclair, for example), even given its smaller population.
BTW, many thanks to those who posted helpful responses to my query about Somerset, Union, and Morris counties from a few weeks back.
Last edited by Yac; 01-22-2007 at 01:33 PM..
Reason: mls
Well I think the real problem in Morristown stems from the tensions between the Spanish and Black communities. The Colombians, who make up most of the Spanish people in the town, have been moving into and pretty much taking over "the Hallow," which is a historically Black neighborhood in Morristown. This has led to a lot of tensions in Morristown and is the reason for a lot of fights in the school systems.
It might be a smart idea as the previous poster said to look in towns such as Hanover, Whippany, Cedar Knolls, and Parsippany, which are very close to Morristown but do not feed students into the Morristown schooling system.
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