Where would you househunt in NJ if.... (Newark, Edison: real estate market, townhome)

[Nattie23NYC]

1. You're from NYC, your family is in NYC/Westchester, your spouse is from the Philly area and his family is still there (and you like all these people and want to see them with some frequency!);

2. You work in Perth Amboy and your spouse works near the Meadowlands;

3. You want to live in a home or townhome with a purchase price under $1M (preferably around $800K);

4. You want a nice diverse mix in the community, definitely with a significant Jewish element (and in a perfect world, an Italian one as well); and

5. You don't want to be so far from Manhattan that you and your family only go there a few times a year.

Very interested to hear the responses!

[MaverickDD]

That's the easiest one we've had all year:

Livingston, of course!

It's a no-brainer.

[wileynj]

Originally Posted by MaverickDD

That's the easiest one we've had all year:

Livingston, of course!

It's a no-brainer.

Ditto!

[Lusitan]

I won't argue with Livingston, but I'd be more specific:

Livingston, in the year 2010.

[lisadutka]

Metuchen Nj has a nice mix of jewish and italian and you could be in manhattan in 30-40 minutes!

[tandcookies]

Originally Posted by lisadutka

Metuchen Nj has a nice mix of jewish and italian and you could be in manhattan in 30-40 minutes!

True!!

[lisadutka]

Actually anywhere in Middlesex county Metuchen, Woodbridge edison would provide decent access to the areas you mentioned.

Livingston would be good for your NYC relatives but bad for your philly area relatives.

Plus you get alot of house for your money.

Good luck

[snuffybear]

I think I've heard Springfield has a sizable Jewish population, and it is just east of Summit so good for getting into NYC (though I don't think it has a station - you'd have to use Summit or Short Hills?? not a big deal if not doing it daily - you can park at various stations on weekend).

Also Morristown, perhaps. It is pretty diverse and I do know Jewish people there that seem happy with the synagogue etc.

[Nattie23NYC]

Lusitan, what do you mean by your post about the year 2010?

[Lusitan]

Originally Posted by Nattie23NYC

Lusitan, what do you mean by your post about the year 2010?

I was referring to the widespread prediction that, as one of Forbes Magazine's 25 Weakest Housing Markets, most of NJ will see real estate values fall 25% by the end of 2009:

America's 25 Weakest Housing Markets - Forbes.com

Here's the relevant info from another post:

Three NJ metro regions (2 covering most of N. Jersey) were ranked as among the weakest real estate markets in the nation, all expected to see another 25% drop in home values this year by next year.

North Jersey's "Edison metro area" (which includes all of Middlesex County, Monmouth County, Ocean County, and Somerset County) and "Newark metro area" (which includes all of Essex County, Hunterdon County, Morris County, Sussex County, and Union County) are both included in Forbes' recent list of the 25 weakest housing markets.

Here are the numbers ...

Metro Area: Edison, N.J. (Middlesex County, Monmouth County, Ocean County, and Somerset County)
Population: 2,410,700
When will the bottom be reached?: end of 2009
Forecast price change to bottom: -26.5%

Metro Area: Newark, N.J. (Essex County, Hunterdon County, Morris County, Sussex County, and Union County)
Population: 2,167,400
Bottom Expected: end of 2009
Forecast price change to bottom: -25.6%