Last night my husband and I attended the Millburn-Short Hills Newcomers ClubWinter Gala at the beautiful Beacon Hill Club in Summit. There was an amazing turnout and I got to see so many of my clients -so it was alot of fun for me. There was a silent auction, and the first item, which quickly caught my eye, was "Create your own signature sandwich at the Millburn Deli. Your sandwich will appear on the sandwich board for six months." I instantly got excited
The inventory along the NJ midtown direct trainline towns is the lowest I've seen in years, so I am playing "Matchmaker" and writing this post on behalf of the Sue Adler Team's buyers who have seen everything currently on the market and are waiting for their perfect home to appear!
Trying to decide which trainline town is for you? I've done some of the legwork for you with this informative tour of Maplewood and South Orange, the first GREAT towns off of the Midtown Direct trainline into Manhattan. Planning a visit give us a call (973)464-9129, and The Sue Adler Team will be happy to give you the REAL town tours.
Highlights of this video: You'll see schools, parks, Maplewood and South Orange Village shops and restaurants, train stations, a variety of beautiful neighborhoods.You’ll also hear from local residents sharing what they love most about living here. CLICK HERE to read entire article
Its quite common to see homeowners and especially home sellers in Short Hills, Livingston, Maplewood, South Orange and other Essex County towns appealing their assessments these days since prices have come down. It can really have an impact on your sale if your taxes are too high. If you're thinking of selling your home in the next year, and your assessment is higher than you think it should be, then now is the time to apply for a tax appeal. If you miss the April 1st deadline you have to wait a whole year and that could affect your sale if your taxes are out of line.
When job loss occurs, the effect on families can be absolutely traumatic. I feel I'm taking a risk by discussing this so openly because its such a sensitive, personal topic to so many people but I don't think I could live with myself unless I get this information out there to people who may need it.
If job loss has affected your family, its important that you examine the answers to these questions:
1. Check your monthly expenses against how much money you have in savings.
2. How many months can you live in your house at these current monthly expenses?
3. What is the likelihood of finding the same paying job? And to take that a step further, how long could it realistically take to find another job?
4. Have you called your mortgage company? As long as you can prove hardship, today banks are often modifying mortgage balances and mortgage interest rates. But is this the best long term solution for you?
Let's say that you bought your house 2 years ago for $1,000,000. You got a mortgage of $800,000. The market for your house bears about $850,000 now, and you have about 6 months left of monthly expenses without going into your retirement funds. If you wait 2-3 months to put your home on the market, then your risk is that you could be putting yourself in a distress situation if the market comes down further or you can't sell your house or both. At that point, without employment it will be hard to find a rental if you can't show proof of funds for the term of the lease. This is another reason waiting is not a good idea.
I can't stress enough how important it is to seek advice right away from a GOOD realtor or attorney you trust to advise you properly before you find yourself in this position. The biggest eye opener to me is how quickly things can change and most people don't realize this.
If you can no longer make your mortgage payments, get your house on the market right away and submit your financial hardship package to your bank. The LAST thing you want to do is let your house go into foreclosure.You can avoid this by selling during the "short sale" or "pre-foreclosure" period!
Here are the MAJOR differences between foreclosures and short sales.Differences that can greatly affect your future:
What a day! 3 open houses on our three new listings - Two are getting at least one offer, and we had 27-30 people at each one. All three of these homes are priced in the $500's. My team was also booked all weekend with buyers. What does all of this mean?
1. There has been so much pent up demand for great AFFORDABLE homes that the nice ones that are priced right are flying off the market.
2. The entry level market has now come down to a level where buyers can jump into the market. Of course the low interest rates have added the cherry on the top.
3. Even in a "buyer's market", you will always be able to re-sell a well priced home with close proximity to trains to NYC. This is what most buyers moving out from NYC are looking for.
4. Has this segment of the market hit bottom?
So where can you find these more affordable homes? Below are neighborhoods in each of the midtown direct trainline towns that are under a mile to the train.
South Orange - South of South Orange Ave, there are two neighborhoods that are easily walkable and you can find housing that won't break the bank. The area between Walton Rd and Wyoming Ave is one ( Conway Ct, Rynda, West End Rd, Lenox Ave to name a few streets) and the streets surrounding Seton Hall University are the other. North of South Orange Ave there are the Hart Dr ranch homes, and further north you can occasionally find a smaller home nestled amongst the larger ones off of Wyoming Ave. The same would be true of the Montrose Section.
Maplewood- Much of Maplewood fits the bill and that's why so many buyers move here from Park Slope, Brooklyn, and NYC. East of Valley Rd, across from Memorial Park, is very popular among the "walk to train" crowd. Here are two examples: www.sueadler.com/35Kensington and www.sueadler.com/36Madison Houses within a few blocks of Maplewood Village may be in the $500k-700k range, but they don't seem to come on the market very often. There are homes on Jefferson Ave and some of the surrounding streets such as Brookside Rd, have sold in the $500k's and 600's as well.
Millburn- The South Mountain Section and Wyoming Sections are the two largest neighborhoods that are "walk to train, town, Taylor Park, Wyoming Elem or South Mountain Elem, middle and high school ". There are also many small streets off of Millburn Ave that are close by as well.Homes range from the $400k's to the 800k's with a few exceptions in the South Mountain Section.In the Wyoming Section you can easily find homes in this range, but there are also more expensive homes over $1Million.
If you work in NYC and need the direct train to Midtown New York Penn Station or Hoboken (where you can then take the PATH downtown to the financial district), here are the most convenient New Jersey neighborhoods where you can find the beautiful upscale homes:
Old Short Hills is the area north of the Short Hills train station off of Hobart Ave. Stewart Hartshorn originally developed this as the ideal community, and brought the train line from NYC into the magnificent rolling landscape of Short Hills, which was at the time, all countryside. Truly magnificent one of a kind homes off of quiet winding roads, its no wonder why Old Short Hills is such a sought-after area. A major attraction of Short Hills is that it is part of the Millburn School District, the highest rated school district in NJ. There are also private school options as well.
Northside Summit - The area north of Springfield Ave between Woodland Ave and the Whittredge Green area consists of some of the most stunning homes you've ever seen. ( I really didn't mean for that to rhyme!) From tudors to Victorians, to brick manor homes, you'll pay a hefty price tag, but if you can afford it, this is truly the best of all worlds. Summit also has a very highly rated school system. There are many renowned private schools in Summit as well.
Wyoming and Montrose Sections of South Orange were planned as a haven for wealthy New York businessmen looking for stylish large homes away from the city - the area's first commuters. The fact that the commute into Manhattan is only 25 minutes from South Orange is a big draw to commuters who aren't willing to sacrifice a short commute for their estate home. These homes of history between Ridgewood Rd and Wyoming Ave in the Wyoming Section, and between Scotland Rd and Grove Ave in the Montrose Section, have magnificent craftmanship, beautiful mature plantings, and have historic gas lights along their tree-lined streets. Prices are much less than Summit or Short Hills, but the taxes tend to be equal to ( and sometimes a little higher) what the taxes for the same house in Short Hills or Summit would be, so keep that in mind because home buyers normally compare by price range town to town, not size of home. Check out "Tulip Hill" circa 1906! Asking $1,095,000.
Since most home buyers only see the Active Listings and Price Reductions, I think its important to show you (link) everything that has gone under contract in our Midtown Direct Towns since October. Homes showing Sale Prices have Closed. If you'd like a more detailed analysis, Just give me a call (973)464-9129
Join the Sue Adler team
at our 3 New Listings
Open Sun, 2/1, 1-4
All 3 are close proximity to NYC direct trains.
Click House Photos Below for
Detailed Info & Virtual Tours
Classic Colonial in Maplewood OPEN HOUSE Sun, 2/1, 1:00-4:00! This picture perfect 3 bedroom, 2.1 Bath Colonial will grab you and pull you right in! Type: Single Family Home Location: Maplewood, 35 Kensington Price: $559,500 Get more information >
Col w/ Great space,condition, setting OPEN HOUSE Sun, 2/1, 1:00-4:00 Don't miss the Interactive Floorplan! Sunny, flowing 4 BR, 2.1BA Colonial on a beautiful .62 wooded acres with creek, spacious rooms, updated Eat-In Kitchen and Master Bedroom Suite with dressing area. Type: Single Family Home Location: New Providence ( Summit zipcode) Price: $569,000 Get more information >
Spacious Sunlit Maplewood Colonial OPEN HOUSE Sun, 2/1 1:00-4:00! Grow into this spacious, sunlit, move in condition 5 BR 2.2 bath Maplewood colonial on quiet tree-lined street. Close proximity to Maplewood Village, Memorial Park, and trains to NYC! Type: Single Family Home Location: Maplewood, 36 Madison Price: $585,000 Get more information >
View Other Featured Listings By Appointment (973)464-9129
Exquisite 4 yr brick col on cul de sac! Tucked away on quiet cul de sac in enclave of upscale homes, you'll find this "better than new" 5 BR, 3.2BA brick colonial with breathtaking views of Chatham Township parkland. This custom home has high ceilings, spacious rooms. Type: Luxury Home Location: Chatham Township Price: $1,675,000 Get more information >
Awesome Glenwood Tudor on double lot! Just reduced! The one you've been holding out for! 4 BR, 2.2 bath sunny, move in condition Storybook Tudor on oversized lot in Glenwood section of Short Hills, just a few blocks from train, schools & Millburn Ave shops & res Type: Single Family Home Location: Short Hills, 11 Pine Ter East Price: $1,095,000 Get more information >
Magnif 3 sty brick col circa 1906 JUST REDUCED! Set back off of long driveway, in private oasis in the Wyoming section of South Orange, this enchanting 7 bedroom, 4 1/2 bath, three story brick Colonial known as "Tulip Hill" was built circa 1900.EZ walk to train! Type: Luxury Home Location: South Orange, Wyoming Section Price: $1,195,000 Get more information >
Still time to customize! Still time to customize this incredible new construction situated across from the Oakey Tract woods. Everything about this home was thought through beautifully. See full description & floorplans. Type: New Construction Location: Short Hills, 102 Hartshorn Price: $3,790,000 Get more information >
Market updates & home buying and selling advice for real estate in our awesome NJ towns.
Expert advice from Sue Adler, the #1 Keller Williams Agent in New Jersey for 2005 through 2008
Sue Adler Team Blog:
www.NJExperts.com
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
Last night my husband and I attended the 
March 13th, 2009 by Sue Adler
When job loss occurs, the effect on families can be absolutely traumatic. I feel I'm taking a risk by discussing this so openly because its such a sensitive, personal topic to so many people but I don't think I could live with myself unless I get this information out there to people who may need it. 
South Orange - South of South Orange Ave, there are two neighborhoods that are easily walkable and you can find housing that won't break the bank. The area between Walton Rd and Wyoming Ave is one ( Conway Ct, Rynda, West End Rd, Lenox Ave to name a few streets) and the streets surrounding Seton Hall University are the other. North of South Orange Ave there are the Hart Dr ranch homes, and further north you can occasionally find a smaller home nestled amongst the larger ones off of Wyoming Ave. The same would be true of the Montrose Section. 
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