Location, location, location. Centre Place does not have the location to command such lofty prices. I suggest looking into Grande Woods, Timberline, Park Gate, or the Enclave for townhouses at superior North Edison locations that cost about the same or even less than Centre Place. The better schools are in North Edison.

A few hours ago

Cheng,
You are back with your theories again, now you have parent-in-law theory.
and you claim that you are smart because you work at Goldman???
As far as I know Goldman dodged the bullet by betting against real estate.
It is very hard for me to follow anything you write, so, I will not be able to understand this theory either.
I have a simple question, how much would one of these town homes rent for on a yearly basis and what is the property tax and the community fees

Sat Jul 12 2008, 20:37

wow ...so much going on here ...lol ...
I think some of u need to be realistic about going to an ivy league college etc ....getting in ..the cost ,,,who u know etc.......A BA counts yes but its all about where u got the MA in the end ....

I am buying at center place and yes it is expensive but we have looked all over edison and anything that comes close in terms of looking like center place is over 650k ....

North Edison is great but over crowded and eventually the over flow will go into South Edison and I am seeing it happen the reason the schools in North are top its because of the Asian population ....I've seen smaller town homes little upgrades at Traditions in South Plainfield fetch ...450K recently ...
Most of the homes are almost gone my husband and I plan to live there for many years to come and its not about flipping and making money which is where most mindsets are .....

Sat Jul 12 2008, 04:57

I think Centerplace is NOT random townhomes in a commercial section; in fact, Centerplace has pioneered the trend of multiunit community walking to schools and transportations.

Many years ago when investors built Rivendell Village luxury townhouse rental near Rutgers and Edison Train Station, some people think it was crazy, near warehouse area, job cops ...etc. Well, now they changed their mind. Who are the people rented it? IT professionals working at Jersey Cit, NYC ...etc, and believe or not Rugers Univ students.

So, you think students are cheap? poor? maybe, but because it can walk to Rutgers Univ, they can save a car. To be more precisely, their parents can save a car, insurance, gas, worry ...etc. I know many Rutgers students renting there, and that's why I would NOT be surprised that, if owner of Centerplace who are moving up to million dollar house years later, if they want to rent it out, they will be very easy to rent to MCC students (or be more precisely, rent to their parents).

Who are best tenants in the world? college students! A friend of mine whose Rutgers student tenant later went to medical school stayed 6 years in his condo, the father always send in check around 20th of each month post dated. When his son finally finished and went to Stanford Univ for residency, he was so surprised when the condo was turned back to him. New appliance, new kitchen, ...etc, the tenant made everything new!!! Free of charge. To be precisely, the parents made everything new!.

So, you know townhouses like Centerplace walk to MCC is not only a great home, but a great investment if it needed be in the years to come when move up to big home.

Fri Jul 11 2008, 13:56

I am sorry if I did not express the trend clearly about Middlesex County College. As you all know, MCC provides only first two years college education, but due to NJ Stars I that offers top 20% high school students FREE tuition, and NJ Stars II that offers MCC students with B above average to go to 4 year college such as best public university in NJ, Rutgers Univ, also FREE tuition on second half of the college study. So you will see the trend that many top 20% students will come to MCC.

Also, NJ Governor signed a new law http://www.state.nj.us/governor/news/news/approved/20070913a.html that makes first two year college course credits at MCC to be all transferrable to, say, Rutgers Univ and others, that means the quality and acdemic level of MCC will be brought up to that same level.

As a note to unfair admission practice of Princeton Univ. If you did NOT go to Princeton Univ, your kids will be very unlikely got admitted. They published the admission rate is about 7% to 8%, but alumni's children admission rate is above 40%. If your children is the first generation college student, congratulations!, they will get more chance. But that implies you, your wife, your parents, in laws ...etc all had NO college education.

This also post a long term impact, if you happen to be Princeton Univ alumni, and your children got that over 40% bias admission rate and got into it. Do not be happy to early. Later you may find their parent-in-laws are hard to communicate with you as your children may marry with some classmates whose ancestors never went to college.

So, if you think buying a home near Princeton University will be better than Centerplace at Edison, think twice. You not only pay huge for small sq ft, but huge property tax. and you got an illusion that your children may go to Princeton Univ which is very impractical.

Fri Jul 11 2008, 13:10

You sounds like a top realtor, Cos, but I agree with you LOCATION, LOCATION and LOCATION is the one of the most important thing. And when you see crowds and future generation of millionaires moving to Centerplace at Edison, you know the best location is moving toward Middlesex County College area in the coming decade !!!

You do not need another 50 years, may be just another few years. Friend of my colleague at Goldman Sachs bought at Centerplace. He and his wife making over $250,000 a year as IT professional. I would not be surprised that they can afford a million dollar house in much less than 50 years.

Princeton University is good but very costly, $50,000 a year will cost any American family $200,000, besides, it is very hard to get into Princeton Univ. e.g. Top school districts like Piscataway High School only got 3 students got into Princeton Univ, but 4 into U Penn, 8 into NYU, ...etc. One thing you may not know is that graduated from Princeton Univ may not make more money than graduated from Rutgers Univesity School of Pharmacy. I know someone's son (hey! living in North Edison, graduated from your favoriate JP Stevens High, and got admitted to John Hopkins and Columbia Univ, but picked Rutgers University School of Pharmacy... 6 years later, now he is making $200,000 a year.)

So, most of buyers who bought at Centerplace would more appreciated something like "Middlesex County College" cost $50,000 less than Princeton Univ each year.

I wish I can teach at Middlesex County College, but, frankly speaking, I am overqualified. I went to UC Berkeley both under and graduate major in EECS/CS. But, I would have no problem to give advise to any students to become top students.

I am not working for Centerplace at Edison either for the same token. Only companies like Goldman Sachs can afford my expertise. Did you realize why most banks got hit by subprime? but NOT Goldman?
I think they do not have smart people like Goldman Sachs.

Do you know where was Dept of Treasurey working before? Do you know where was NJ Governor working before? Do you know the new CEO of Wachovia, 4th largest bank, working before? Goldman Sachs.

So, if succeesful development like Centerplace at Edison can not only survive and sold out in current market, I believe there got to me some smart and intelligient people working for the company.

In these days, there are still hundreds of thousands of buyers, but they will choose good Location with safety, excellient school, publich transportation, affordability, yet luxury ...etc. Centerplace of Edison got all of them. Let me ended with David's email today, who is top realtor in ReMax to show you what I meant by Edison is booming ... and if you decide to buy condo/townhouse at North Edison, other than Centerplace, please feel free to give David a call; he is professional and can tell you the story of how Aspen Manor at Edison sold out recently thru his buyers.

------------------------------------
Subject RE: From David Wylde
From "David L. Wylde"
Date Friday, July 11, 2008 11:41 am

You will have to be more specific there are over 400 condo/townhomes that have sold in the past months in Edison. Again please call if you have any other questions @ 908-752-2305

Fri Jul 11 2008, 12:45

You all are talking about how nice these townhouses are, high ceilings and all. Rule #1, as everyone knows, is LOCATION, LOCATION, LOCATION. And the long lines outside sales office proves only how many people are ignorant about basic rules in real estate. Emerging star??? Million dollar houses in THAT area? Maybe in 50 years. And, Cheng, Middlesex County College is not Princeton. Are you working for this college? Or for Centerplace?

Fri Jul 11 2008, 08:51

Whether or not random townhomes in a commercial section on the wrong side of town are a good purchase or not is interesting and all. But I think we can all agree that this is hilarious: "MCC is going to attract many top high school students.."

Community College is going to attract many top high school students?!? Seriously.

Fri Jul 11 2008, 07:33

I actually do agree with Cheng on this one - the Centreplace townhomes are unlike any other i have seen - the closest comparison is to Lighthouse Bay in South Amboy - these homes are just as big as detached homes with lots of living space, upgrades and appliances. I'm sure whoever bought a townhome will be very happy in their new home - if you're looking for a quick profit, this may not be the right investment at this time, but i do believe if you are looking for a home, this community has a lot of good things to offer. And about South Edison not being 'good' compared to North Edison - Well North Edison is overpopulated and not everyone can live there- so where are they likely to try next? South Edison - a community is not just made up of land and buildings - but also people. As affluent buyers start moving to South Edison - you will see (if it hasn't happened already) improvements in all areas.

Fri Jul 11 2008, 06:19

I would not want to say you are out dated, but I am wondering did you get a chance to visit Centerplace at Edison http://centerplaceatedison.blogspot.com/ ? Did you get a chance to stand in the long line outside Sales Office, and see so many buyers brougtht their families crowd in the huge living room and dinning room so excitedly discuss their future dream and not want to leave?

I eyewitness this Indian family with grandparents, couple, kids all sit at this model unit's luxury dinning room's 10 people dinning table, so excitedly sharing their feeling of success and American dream. How many $500,000 homes in North Edison have that luxury with 10 ft ceiling?

Don't get me wrong, North Edison still very good, and it is like 50 year old movie stars who used to have their shining era, and Centerplace at Edison is like a young emerging movie star. Other than its new design, material and style, it has the best Middlesex County College that I suggest you visit the Open House going to come http://www.middlesexcc.edu/ to see for yourself.

MCC is going to attract many top high school students to attend due to the fact American parents no longer going to be able to throw $50,000 a year for their kids going to college, and County Colleges would be a huge saving, $100,000 (for first two year of college education), besides, NJ State offer NJ Star I scholarship for high school kids with top 20% performance in their school.

You will see around Middlesex County College going to be a brand new popular area. Just looking at Mill Pointe at Edison on the other side of MCC http://millpointe.blogspot.com/ just sold another 6 units just for past week or two. You see market trend. This, in fact, also proven by what you see about the traffic. But, you may not know new highways is planned, and shuttle arranged, and Fwy 287 is widden all because of the booming of the Greater Edison/Piscataway area that is top 3 safest area in New Jersey.

As gas price continue going up, you may see many people like you working in the area, rather buy a nice Centerplace townhome than commute from far away. If many of your colleagues move to Centerplace and easy to commute, you may find yourself less competitive because you will waste 10 hours on the commute each week in addition to gas cost.

Not long ago, I was invited to an India gathering with dozens of Indian families love Indian songs near Centerplace. The leader told me that "Edison is my home, and I will never move out of Edison". Meeting so many families all at once, I felt Centerplace Development has a vision to provide what the market needs. After all, first time buyers often buy something under $500,000, but they also young with great potential, years later when they are ready, I can bet you that many million dollar houses will be built around Centerplace area, like what happened dozen years ago in North Edison.

Centerplace is townhouse community, but the "townhouse" is very different from the old style townhouses in North Edison or other place. Believe or not, with proper decoration, it has the taste of million dollar home.

Do you know Edison just approved to build a huge Safety Center near Centerplace area? When finished, you shall see this area be the safest place in Greater Edison area.

By the way, where do you think still available in North Edison? If you call your realtor, you may be surprised that almost all townhouses are SOLD in North Edison. According to NJ Goverment website, there were around 1,000 homes sold just in 2007. All over the Edison you see renovation of old houses. e.g. I just passed Brotherhood St today, and I saw one million dollar home renovated from $500k house, and another land's trees were just cut down and foundation laid.

So, to certain extend, there is absolutely NO luxury new townhouses like Centerplace in North Edison for just $500,000. If you find one, please feel free to post here, so that some buyers agree with you may buy.

Thu Jul 10 2008, 18:33

I've been long time resident in Edison, I know all the good and the bad areas around. I, incidentally, work right next to this complex, there is horrible traffic all the time, there is a permanent smell, I can feel it every morning when I am going to work, the houses are very close to each other, there are no green spaces, the area is not residential - the main neighbors are Middlesex College and a business (EPA) etc. You have to be totally ignorant about the real estate in this area to pay 500K for a unit. And the schools around, middle to high, are not too good. If you want quality you have to go North Edison. I feel sorry for all people that just bought these houses. 500k for a town house in South Edison, in a bad location, is RIDICULOUS!!! Cheng is most likely smoking something.

Thu Jul 10 2008, 12:14

Are there any discounts being offered currently on these houses?

Wed Jul 9 2008, 20:05

Thanks for sharing the updated info, and I believe the few left would be sold very soon. Believe or not, families with kids and expecting their kids to have best high school education in NJ would come to here and stay for many years to come; they will not sell their townhouse for at least 6 years. 4 for the top Middlesex Acadamy of Science high school that just won #1 in NJ Science League Biology competition of 2008 over hundreds of all other high schools in NJ. (last year #1 was East Brunswick High, and this year they got #5, still pretty good).

Another 2 year would be at Middlesex County College for free two year college tuition thru NJ Stars I, and who knows, may be another two year at Rutgers Univ for NJ Stars II free tuition. and after that go to famous Princeton Univ for graduate school?

So, once these townhouses sold to these family with vision, they will no longer available for sale on market for many years to come.

Mon Jun 30 2008, 22:35

actually the townhomes are almost sold out ..just a few left ....

Sat Jun 28 2008, 18:33

Sorry to confuse you. When I taught Differential Topology, almost all students got confused. I got so much real estate knowledge, not that I am an experienced real estate investor (e.g. I bought nothing since I bought my own home back 90's, nor did I sell) but because I am willing to do search and answer many questions, and I have an hobby to go open house.

When you go open houses for thousands and talk to thouands of realtors, you will be as good as I am.

In general, I just tried to share with you why Centerplace at Edison is so popular, and there are reasons for them. It is "market", people love all the good things and environment, so people buy them. Soon or later, they are going to be sold out, and that's it.

Fri Jun 27 2008, 23:03

Cheng,
You really confuse me. Nothing you say makes any sense to me. But you seem to be an experienced real estate investor and both of us are living in different planets as far as real estate is being considered as an investment.
All I can hope for you is that you are net cash flow positive on all your real estate investment. (assuming you have a term called cash flow in your dictionary). Otherwise, you have no idea what is coming your way

Fri Jun 20 2008, 18:25