Bound Brook Info - new home buyer (Union, Highland Park: 2009, insurance)

[daevid]

Hi,

We are 2 young professionals considering a home in Bound Brook and have done the basic homework on flooding. What is the quality of life in Bound Brook (crime, community, schools, city services, etc.). Any info would be helpful.

We really like the atmosphere of Highland Park, but want a little more for our money.

[rue2323]

Make sure you check if the home you are looking at is in a flood zone. Bound Brook is known to flood.

[lets_hope_for_newbruns]

south bound brook is better....check the direction of water and 287 as it twists and turns and you will agree...

best is check the Fema maps if you are really interested in bound brook...those maps won't be so off. they must have been updated as late as 1990s.

[JerseyG]

Originally Posted by daevid

Hi,

We are 2 young professionals considering a home in Bound Brook and have done the basic homework on flooding. What is the quality of life in Bound Brook (crime, community, schools, city services, etc.). Any info would be helpful.

We really like the atmosphere of Highland Park, but want a little more for our money.

Flooding aside, not a great place to live. The only decent place to live in BB is in the Piedmont area. Old, historic and gorgeous homes. With the Piedmont section excluded, if I had to pick between Highland Park and So. Bound Brook or Bound Brook, I'd pick Highland Park.

Crime? Don't know other than what I catch in the "police blog" in the paper. Community...can you speak Spanish? Schools? There is a private school...Holy Family. Public not so good. City Services? The most anal retentive cops in the world who will pull you over for doing 26 mph in a 25 mph zone...and don't ever pass on the right!

[Lusitan]

Have you done the basic homework on home prices? Do you realize home values in NJ are expected to fall 25% in 2009 alone, and who knows after that? Do you have 20% down payment saved up plus at least 6 months living expenses in FDIC insured bank accounts? And are you sure about being in the home for the long term, understanding that the home you buy today will likely be worth far less by the time prices stop falling, so that you'll need to be in this for the long-term because you won't be able to sell?

If you've done your homework and savings regarding the above points, then I think you can move onto questions about the other issues you mention.

City Data (this website) has good info on crime and demographics. Talking to cops in town is also a good way to get a feel for crime in the area.

As for schools, NJ Monthly ranks them each year, and while not perfect their list does give you some rough idea of where the town falls in the pecking order:

Top New Jersey High Schools 2008 -- njmonthly.com - The Best of Jersey (njmonthly.com)

Also, it sounds like you're aware of the potential flood issues, but just FYI FEMA has a website where you can buy online flood maps at a very low price, so you can see what parts of town you need to be aware of for flood risk. You can also input the address at this FEMA website for a quick breakdown of the flood risk:

Floodsmart.gov: Your premier resource for flood insurance information

[JG183]

pay no mind to Lusitan.

he/she/it is in a state of hormonal rage, otherwise an intelligent entity.

home prices in NJ have bottomed.

Zillow is reporting upticks in pricing.

but yes, Bound Brook is a s***hole

[lets_hope_for_newbruns]

or buy with 10 percent discount...

entire 2009 will see 1 percent drop in prices per month.
many are calling me with 3-5grand drop in base price every month.

[Lusitan]

Originally Posted by JG183

home prices in NJ have bottomed.

Another post to bookmark and return to down the road.

There is absolutely zero evidence that home prices have bottomed in NJ. All evidence points to continued collapse as unemployment continues to increase (count the number of "Yay! They extended unemployment benefits again!" posts as a rough indicator) and lending standards tighten (i.e., foreigners aren't going to foot the bill for people buying things they cannot afford any more).

Don't say you weren't warned; don't cry that your evil lender made you do it.

[Delphi]

Originally Posted by Lusitan

Another post to bookmark and return to down the road.

There is absolutely zero evidence that home prices have bottomed in NJ. All evidence points to continued collapse as unemployment continues to increase (count the number of "Yay! They extended unemployment benefits again!" posts as a rough indicator) and lending standards tighten (i.e., foreigners aren't going to foot the bill for people buying things they cannot afford any more).

Don't say you weren't warned; don't cry that your evil lender made you do it.

In the area I am looking at price is falling in general. However, some sellers are in denial. One of them had asking price 499K when the listing expired after 8 months (I though listing expires after 6 mths). I went to open house when the price was 499K and the agent said seller had taken lone on the house. Seller re-listed 2 days ago for asking price of 508K.

That increase seems to be attributed to stimulus package of 8K credit. They will again increase the price when they see mortgage rates came down to around 4.3% from Fed's mortgage bonds buying spee.

Otherwise, price is falling in general. More importantly, nothing moving. People are just looking, not buying. I am sure even with lower mortgage rates and falling price and 8K credit, buyers are worried about the economy and job situation and holding back.

[desertsun41]

Dont be so afraid of all the flooding threats you hear. I believe Bound Brook had one 100 year flood in about 1997 or 98. Make no mistake, Bound Brook, especially the more southern end including Main St is in a low lying area of the Raritan River flood plain. All modern flood control improvements have already been funded and completed however the biggest flood levee that will protect Bound Brook as well as the more dumpier South Bound Brook will not be completed for a couple more years. I'd say its pretty damn safe from floods.

I lived in Bound Brook a long time and will vouch for it being real nice. Expecially the old historic area across from the high school on West Union Av. The only flooding I ever saw was under the River Rd train bridge. They been repairing that for 75 years without success. The conclusion is there is an underwater aquifier under the road bed under the bridge.