First Time Home Buyers, GET EXCITED!
Why? Because signs of a housing market recovery are evident in the northern part of New Jersey where first time home buyers have opportunities they've never experienced before..
Not only will first time buyers receive an $8,000 tax credit if they buy before the November 30th deadline, they're going to have access to homes in the most awesome and sought after communities on the market, including Summit, Short Hills, Millburn and Chatham.
In a story by Antoinette Martin in the Sept 20th issue of The New York Times, Jeffrey G. Otteau, a residential market analyst explains why.
Recoveries first take root in what we call the primary markets," said Mr. Otteau. "These are the more desirable markets. They are close to jobs, and close to trains."
Ms. Martin explains that a healthy market is when homes sell in six months or less. Currently, the average home in New Jersey sells in nine, and at the beginning of the year it was more than twice that!
However today, there are 28 towns in the state where the inventory of homes sells in 4 months or less, according to the latest Otteau Appraisal Group report. According to Mr. Otteau, towns with commuter train stations are a "critical bulwark to long-term home values."
It is no surprise then to learn that 12 of the 28 low-inventory towns like Summit, Short Hills, Millburn and Chatham all have train stations. And as Ms. Martin writes in her article, the highway access to Essex and Union counties "is superb. Interstate 78 can be reached to the south, I-80 to the north and I-287 to the west."
As a 30 years resident and real estate agent in these "recovery leader" towns, I know that first time home buyers don't miss a beat. They are watching homes sales here as closely as I am. With the $8,000 tax credit and a housing recovery now in progress, it's going to be fun to see what autumn will bring.
My experience tells me that now is the time to buy, and that Autumn will bring a host of first time home buyers who will soon be living in the most desirable and sought after towns in New Jersey.
Categories: Chatham, Communities, Dining Out, Sue's Picks
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When I moved to Chatham last year from Short Hills, it felt like I was moving to another country, yet it is only one town over! I was used to Millburn Ave, not Main Street! and I swear the leaves on the trees were a duller shade of green. After 25 years of living in Short Hills, I was "a woman without a neighborhood," homesick and lost.
What I've come to learn, is that the Summit, Chatham and the Short Hills areas are more closely connected than I ever realized. It just took a personal move to find out.
Why the change in attitude?
Recently I had opportunities to dine at two local Chatham restaurants; Gregorio's and Scalini Fedeli. Both are on Main St, within walking distance to everything in town, a convenience I love.
Gregorio's can get really busy, so be sure to get a reservation and bring your own wine which I always consider a plus. A few other local hot spots on Main Street and not to be missed; Seranade , fine dining to perfection. A Taste of Asia is Malaysian cuisine. For those who don't know what that is, it's a mix of Chinese and Thai food. Yum! Chatham of course has a Japanese restaurant. Mitsuba . I've been to my fair share of sushi places. This might be one my favorites of all times!
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The Trophy Kids, Contributed By Robin Benjamin, Buyer Specialist of Sue Adler Team Mom and dad, get ready. You're about to be blamed for something else. The Millennial Generation. (Where did generations X,Y and Z go?) According to an article in the Wall Street Journal, "The Trophy Kids Grow Up: How the Millennial Generation Is Shaking Up the Workplace," kids born between 1980 and 2001 are entering the job market and causing all sorts of problems. "Blame it on doting parents, teachers and coaches," the article states. "The Millennial's were raised with so much affirmation and positive reinforcement that they come into the workplace needy for more." In our community of Millburn /Short Hills that can't be true. Can it? As a mom who has lived here for 30 years, I know many kids who give back to the community, and whose hard work and balanced egos helped Millburn High School gain its #1 ranking in the recent September issue of NJ Monthly. Ok, ok. Maybe on "one or two" occasions we hovered too much, and even gave them a trophy when they came in last. But according to a posting by Sue Shellenbarger, "Helicopter Parents: Beneficial or Detrimental?" we're not the only guilty ones. Apparently a number of historic well-known Presidents had parents who were worse than us. So, there's still hope. And who knows? One of our Millburn/Short Hills kids may even be President some day, and we hovering "helicopter" moms might even get a little credit for getting them there. If not, they still get a trophy, right? http://online.wsj.com/article_email/SB122455219391652725-lMyQjAxMDI4MjI0MTUyNTEyWj.html
Robin Benjamin |
Now part of the #1 Keller Williams Team in NJ 2005-2007. The Sue Adler Team!
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