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South Orange is Still Hot for NYC Commuters

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

Real Estate is still your Best Nest Egg

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.

 

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Perri K Feldman

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