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Old 05-11-2011, 05:23 PM
 
189 posts, read 582,557 times
Reputation: 114

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The Raritan Valley line has not been electrified, however, NJ Transit has purchased hybrid powered engines that run on diesel while on the Raritan tracks and then switch to electric. They are currently being tested and supposed to be deployed within a year.
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Old 05-11-2011, 10:43 PM
 
Location: Ashburn, VA
467 posts, read 1,522,253 times
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Quote:
Originally Posted by fedus View Post
Nothing of what you say makes Westfield exceptional (2 hours to the beach!). In fact, the train to NY is 1 hour and would expect 1:30 door to door. So if one commutes daily spends 3 hours commuting daily not to count the hassle of transfer. I would never choose this town if I worked in NYC so it is surprising how NYC income can support the westfield bubble.
The commute isn't 1:30 door to door. I do it every day. And nearly everyone who lives here works in NYC. The non-direct commute is less of a hassle because many work on Wall Street and would have to change trains in Newark for the PATH in any case.
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Old 05-11-2011, 10:45 PM
 
Location: Ashburn, VA
467 posts, read 1,522,253 times
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Originally Posted by fedus View Post
I don't think that the westfield crowd is particularly rich. Although they might have kept their jobs and incomes I don't believe they have any additional benefit in this economy. Westfield prices are simply in a bubble territory and are coming down as anywhere else. In fact, I don't understand what so special about this town. Long (nondirect) commute, high taxes and high schools NOT in top 10 in NJ (according to sat scores).
Westfield prices have come down by 10 to 20%. I don't see them coming down much further. The key issue is that older housing stock in town is being torn down and pricier houses are being built on the lots.

The High School is excellent and lacks some of the snobbishness and bullying found in other highly ranked NJ schools (i.e. Milburn)
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Old 05-11-2011, 10:48 PM
 
Location: Ashburn, VA
467 posts, read 1,522,253 times
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One key issue is the price inflection for 4 bedroom, 2 bath houses. Due to the age of housing stock in Westfield, and the fact that many houses here have been expanded, there are lots of 3 bedroom/1 bath houses, and many 4 bedroom/1.5 bath houses. Finding two full bathrooms is whats tough and that raises the price sharply. Its just supply/demand - there are few 4bd/2ba houses. They typically go for 720 to 800, depending on how much fixing up they need.
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Old 05-12-2011, 08:28 AM
 
42 posts, read 98,600 times
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Default Thank you everyone for thoughtful replies

I thank you all for replying. I think you made some valid points. What truly bothers us about our search is that the prices of the homes do not reflect good value. We are looking at WF because we have friends in town, and because we do find it charming and easy to navigate. But we ultimately want to get some value for our money.
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Old 05-12-2011, 08:36 AM
 
Location: West Orange, NJ
12,546 posts, read 21,400,123 times
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Quote:
Originally Posted by Lina999 View Post
I thank you all for replying. I think you made some valid points. What truly bothers us about our search is that the prices of the homes do not reflect good value. We are looking at WF because we have friends in town, and because we do find it charming and easy to navigate. But we ultimately want to get some value for our money.
the problem with "value for money" is that it doesn't really exist in NJ. i mean, if something was a good value, it would immediately get 4 or 5 offers, driving up the price by the time an offer is accepted. sure, you could get lucky, but overall, people aren't selling things for less than what the market will pay. and for a town with good schools and a decent commute to NYC, there's a premium price for that.

i'm a firm believer that, if you're not in a hurry to move, you'll find a house for what you want to pay eventually. just whether or not you have the patience and time to invest looking for that house.
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Old 05-12-2011, 08:43 AM
 
Location: NJ
12,283 posts, read 35,684,988 times
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Quote:
Originally Posted by Lina999 View Post
I thank you all for replying. I think you made some valid points. What truly bothers us about our search is that the prices of the homes do not reflect good value. We are looking at WF because we have friends in town, and because we do find it charming and easy to navigate. But we ultimately want to get some value for our money.
inevitably, most homes sell for market value. "good value" is in the eye of the beholder. you're not going to get a new jaguar for $15K, just like you're not going to get a 4bdrm, 2.5 bath home in westfield for $250K.
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Old 05-12-2011, 08:50 AM
 
189 posts, read 582,557 times
Reputation: 114
Agree with Tahiti that "good value" is in the eye of the beholder. To the family moving from NYC where they are paying $4000/month for a shoebox 2bd apartment, $900k with 20k in taxes for a 4bd colonial may be "good value". It's all relative to your current situation and your expectations. Any reasonably priced home in a town with good schools and transportation will sell quickly
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Old 05-12-2011, 09:03 AM
 
Location: NJ
17,573 posts, read 46,137,120 times
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To be clear, you should have said "the prices of the homes do not reflect good value to us".
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Old 05-12-2011, 09:45 AM
 
262 posts, read 841,122 times
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Just like when people were rushing, and probably overpaying, last summer to get federal tax credit before it expired, some looking at more expensive homes may be rushing against this deadline:

Federal Retreat on Bigger Loans Rattles Housing - Yahoo! Finance (http://finance.yahoo.com/news/Federal-Retreat-on-Bigger-nytimes-3995455694.html?x=0 - broken link)

Toll Brothers earning conference call said they thought market was recovering last spring, but then market collapsed after tax credit expired.
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