This bright 1600 sq. ft. split level boasts newly refinished hardwood floors and an inviting sun-filled living room that flows into an open and spacious layout: formal dining room, eat-in kitchen, and a large family room with a wood-burning fireplace
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The three bedrooms on the second floor include a master bedroom with a master bath and two additional bedrooms. A second full bath can also be found.
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The newly carpeted rec-room is on the ground level with a full basement below.
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The large level backyard and patio are perfect for seasonal entertaining.
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Charm and character galore. Wonderfully maintained and easily accessible to houses of worship, schools, shopping & NYC transportation.
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If you live in a community adjacent to or along the Midtown Direct Train it is OK to step back from the bad news:
Yesterday Standard and Poor’s released the latest results of theS&P/Case-Shiller Home Price Indices. Data through March showed the following:
· The U.S. National Home Price Index declined by 4.2% in the first quarter of 2011, after falling 3.6% during the fourth quarter of 2010.
· The National Index has fallen 5.1% over the past year, pushing home prices back to their mid-2002 levels.
Not a pretty picture to say the least.
However, and this is a big however, where you live matters.
If you are fortunate to live in parts of Essex, Morris or Union counties that are easily accessible (30-60 minutes) to New York City along the Midtown Direct Train line and/or the NJ Transit/Coach bus system, you are not experiencing double-dip housing price drops. Towns such as Millburn/Short Hills, Summit, Chatham or Livingston for example.
“This month’s report is marked by the confirmation of a double-dip in home prices across much of the nation,” said David Blitzer, chairman of the index committee at S&P Indices, in a statement. “Home prices continue on their downward spiral with no relief in sight.”
The group defines a double-dip as the index dropping below its previous low, which was in April 2009 for the 20-city composite. The rebound in prices in 2009 and 2010 was largely due to the first-time home buyers tax credit, Blitzer said.
But there is some hope for buyers or sellers in well-priced communities and who understand the current market conditions.
“It is my job to educate buyers who are reading those national statistics and want to lowball their offers,” said agent Perri Feldman, an agent with Keller Williams Realty who works in Essex, Morris and Union counties. “When they see the real numbers in our area, their offers become more realistic.”
“A house that is marketed correctly, with realistic pricing and shows well, will be gone within the week,” she added.
At the end of the day…
Location, Location, Location
Yes, it matters.
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Spring has sprung here in New Jersey and home buyers are coming out in droves. A recent article in The Star Ledger and on NJ.com: Open Houses Are Opening Doors for Buyers
“After what has been a particularly rough housing market in the last few months, real estate agents said things may finally be looking up.”
“When people want to buy, they want to buy, and (homes are) moving,” said Perri Feldman, an agent with Keller Williams Realty who works in towns along the Midtown Direct train line.”
“Springtime is a popular home-buying season — warmer weather can encourage people to tour the neighborhood, plus buying now gives new owners enough time to finish renovations and move in by the time school starts in the fall. Add to that historically low interest rates, a glut of unsold homes, a job market that is slowly improving and homes priced under $600,000 that may finally align again with prospective homeowners’ salaries, and buyers who were on the fence are starting to make decisions now.”
Just last weekend, I was out with four buyers from Short Hills and Livingston, to Verona, to Roxbury, to Westfield and Scotch Plains…two strong offers were written and we are waiting to hear back from the sellers.
Want to learn more about the towns adjacent to and along the Midtown Direct Line to NYC…please give me a shout at 973.650.4727 or email [email protected].
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Everyone in Millburn Township (Short Hills) agrees that more parking is needed for our commuters to New York City on the Midtown Direct Train…but how to achieve the balance?
Just a short stroll to the Bay Street Midtown Direct Train Station,
this three level, two bedroom, 2.5 bath townhome (approx. 2000sf)
is perfect for commuters…
An inviting sun-filled first floor flows into an open and spacious layout:
living room, dining room, eat-in kitchen and powder room.
The master bedroom suite with full bath, second bedroom and laundry
complete the second floor.
Oversized family room with walk-out sliding doors to the new paver
block patio and large backyard can be foundbelow.
Glen Ridge #4 Ranked High School in New Jersey*
Half Mile to Montclair’s Restaurant Row
37 Minutes to NYC Penn Station
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If a third rail tunnel was built under the Hudson, homes close to a rail station offering direct service to Manhattan, like this one at Watchung Avenue in Montclair, would be likely to rise in value.
 By ANTOINETTE MARTIN
 WHAT is the real estate value of a one-seat train ride to Manhattan from a station close to one’s home in New Jersey? Leave it to statisticians to come up with a figure.
“It has to be a lot,†said Perri K. Feldman of Keller Williams Realty, who has built a client base in towns along a section of the New Jersey Transit Midtown Direct line running from Morristown to South Orange. “It’s the first question so many people ask about a house: ‘How close is it to the train? Can I walk to the station?’ â€
Now, the extra value that comes with proximity to a station with direct service to Manhattan — no transfer required — has been quantified: $19,000, on average, for homes within two miles of a station; $29,000 for houses within half a mile.
Livingston, New Jersey is a wonderful community with a vibrant town center, excellent schools and an easy commute to New York City via an Express Bus to Port Authority. Want to learn more about buying a home in Livingston…call Perri @ 973.650.4727 or Nancy Mendel @ 973.204.8374 or visit www.MidtownDirectHomes.com.
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Other towns along and adjacent to the Midtown Direct Train line into New York City and Manhattan were also in the top tier:
1Â Millburn
5Â New Providence
8Â Chatham
15 Madison
22 Livingston
24 Governor Livingston (Berkeley Heights)
25 Summit
40 Jonathan Dayton (Springfield)
41 Westfield
Millburn High School has maintained their #1 rank…not surprising given the statistics and the fact that 29 graduates of the Class of 2010 are starting at Ivy League Schools this semester: Brown-1; Columbia-3; Cornell-8; Dartmouth-1; Harvard-4; Princeton-4; University of Pennsylvania-7; Yale-1.
Having lived in Short Hills my whole life, a graduate of Millburn High School myself (back in the day!) and with two children recently graduated MHS (both are at Vanderbilt) I could not be more thrilled.
Want to learn more about Millburn/Short Hills and other highly ranked school systems along the Midtown Direct? Contact Perri K. Feldman @ 973.650.4727 or via email
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