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Hi All! I wanted get the advice of some folks who currently live in Rutherford. My husband and I are actively searching for a home, and we'd love any insights folks can provide on what's it like living in various parts of town. We're primarily looking for a home walking distance to the train, and there a few homes available in the Kipp Farm area which seem walking distance (about 0.5 miles). Can anyone comment on this daily walk? Does it seem reasonable to do this walk all sorts of weather?
Also, I'd love any input folks can provide on the valuation of homes in Kipp Farm or even the Highland Cross/Park Ave region. We're struggling with the fact that most homes in down need significant investment (given driveways/garages and master bedrooms are lacking in almost all homes), and we're struggling with the valuations of some of these older homes. We certainly don't want to overpay for an older home and invest more dollars into the property than the market would allow (essentially being "under water" on day 1). Do you think the homes in Rutherfords are overvalued right now and due for correction? Or is this the "new normal"?
Rutherford is a desirable town, close to nyc and has a train and a nice downtown, it is also a old town
with most homes being older.
just my prediction, real estate value will rise in Rutherford, especially in that area, see what other
properties sold for recently, I would say there is not going to be a correction since there has not been
a quick rise in home prices like what happened in 2006.
We love the Kip farm area, but struggled w/ the same issues you had. The main problem we had was the single bathroom on second floor and powder rooms on first floor and 3/4 bathrooms in attic and basement. We saw so many of those colonials, even updated ones, and it seemed due to the floorplan, bathrooms were being added to basements and/or attics with showers only and it wasn't convenient for a family with small kids. We never inquired to the cost or feasibility to add a proper master suite on the second floor, but always assumed it would be nearly impossible since we had never seen one done.
I am a current Kipp Farm resident. It's one of the most desirable areas of town. It'll be a 5-10 minute walk to the train, depending on which block you're on. Downtown and Park Avenue is right around the corner.
New construction and already updated homes are available if the don't want to do any work. But it's going to cost you. $600k to over a million is the current pricing for such homes. If you do the work, you will get the money back. Flippers and builders have been making a killing. Take 20 w. Gouverneur Ave. for example. New construction on the market for $1.1. The builder bought the tear down house formerly there for $250k.
Rutherford is a good buy because it's underpriced. It's a hidden gem as the sole south Bergen town that would fit in well in North Bergen. But it still is closer to south Bergen pricing. You have a train station, a nice walkable downtown area, you're 8 miles from Manhattan, and the Blue Ribbon school district is rated 8 out of 10 on greatschools.org. Go ahead and try and find all that elsewhere in North Jersey at similar pricing. Did I mention the 8 miles from NYC part? Location location location. That said, there is one big downside. The taxes are very high relative to other Bergen County towns.
yes, if you have the money you can do any renovation you like.
Rutherford is heating up, I know people are flipping homes there.
and so no one is confused, I think you mean northern Bergen county.
This thread is nearly 3 years old, so the OP likely has found a place and moved in by now. LOL.
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