Are there any other towns in NJ that have some diversity and are an easy commute to NYC?

I wish you luck.

__________________________________________

Oh, come on, I was in SO this weekend looking at houses and never once did I see anything that seemed even the least bit unsafe.

Are you sure it isn’t in the thread right below this one? I see a comment posted by you at the end of that post.

jb

As for commercial real estate…It all depends on the product type. There was a run up in smaller owner-user/parital Class C investment properties such as small neighborhood mixed-use buildings, restaurants, etc.

Small owner-user industrial properties (under 25,000 square feet) went up quite a bit in northern and central NJ in the last five years. In some cases they have appeared to almost double in price.

As for larger investment grade product that are leased, such as grocery anchored shopping centers, Class A office buildings, etc, I’d have to say, most of the purchases prices make sense based on risk of the tenancy, the net income the property generates, etc. Overall, I think “most” of the buyers for commercial properties, calculate risk a bit better than than average residential home buyer. Overall commercial values have gone up significantly, but many of the rental rates have followed to support these prices.

With all due respect I believe you would do far better to look else where.

And yes, we’ve been looking in this area too. We love it and are really impressed with the towns. The taxes blow, but the towns themselves are fab.

I would rather over pay by say 25K for a house, and have some confidence in the stability of taxes.

At least if I over pay, a little aggressive pre-paying, can make up for that quickly.

But the tax situation who knows. The thought of paying 15k or more in property taxes in just a few years (at the rate things are going in my town) is in a word scary.

Next week’s episode is gonna be great. Jack has to meet Logan, and everything else is turning to sh!t.

A call made too early is still a bad call. Falls into the category of broken clocks being correct twice daily.

Market timing is as difficult in RE as it is in other markets. The wise are always advised to buy for more solid reasons than trying to catch a bottom or riding upward momentum.

Props to you for asking CommercialRE to make a call on his segment of the biz. I, along with you, am waiting to hear this.

“In conclusion, I think this market is going to fizzle downward slowly over the next couple of years or more. If I were you I would hold off till September 2008. But then again I thought prices peaked in 2002/2003. So what do I really know. “

Commercial RE:
You were ahead of your time. I was not all out alarmed until 2003/2004. In ’05, I cringed when people told me of their “great fortune” of winning a bidding war for some overpriced fixer-upper. I wondered how they couldn’t see the big, fat elephant in the room…it’s wearing a pink tutu for crying out loud.

I take it you are somehow involved in Com RE? Any thoughts as to where commercial RE is headed? It is my understanding it has been relatively strong compared to residential RE, but will this trend downward as well?

I wish you luck.