South Orange is Still Hot for NYC Commuters

South Orange is a Terrific Town
for First Time Home Buyers.

Danielle Elliot writes in  South Orange Patch  how desirable Midtown Direct Train communities are for NYC transplants.

Perri Feldman, a realtor with the Summit-based Keller Williams, says the sluggish economy hasnt substantially slowed the trend. At least 80 percent of her clients are from the New York City area. These first-time buyers are looking to put their savings into something solid, hoping that €œif they do lose their jobs, they have hopefully created a nest egg with the house.

A nest egg that has never been so affordable. €œTo say that now is the time to buy is an understatement. Historically, prices and interest rates have never been this low, and first-time homebuyers want to jump in feet first. The $8,000 credit doesnt hurt either, said Feldman, referring to the credit available to first-time home buyers via the Obama stimulus package.

There’s also a contingent of would-be buyers fresh from digesting grim news about the economy who house-hunt with the expectation that they can find a home for a fraction of what they would have paid two years. But Feldman says they’ve been largely disappointed, and local sellers have resisted dropping their prices by large amounts.

€œAlong the Midtown train line is the hottest place to be, she said. €œPeople are low-balling, but sellers arent budging.

Patch has been slowly adding communities to their local news sites: Maplewood, South Orange, Millburn with Scotch Plains, Summit and Westfield coming soon.

Want to learn more about Homes and Towns along the Midtown Direct Train? Call Perri @ 973.650.4727 or email Perri K. Feldman about your Midtown Direct Real Estate Needs.