Snowcrash,
There are many great towns in Bergen County where there are values to be had. More information is needed about you and your wants and needs in a future home before an answer specific to you can be given.Things such as what is most important to you in the home you select. You don't mention schools, easy commute to any specific area, home styles, whether you want a ranch home or a colonial etc.,
I am experienced real estate agent in Fort Lee, NJ and I work in many of the surrounding towns. Please give me a call or send and email and I would be happy to supply you with more information without obligation.
Thanks,
Adrienne Petrook
Weichert Realtors, Fort Lee Office
201-390-7909 cell
201-592-1400x190 office

Property value in bergen co. was so high before even though property value drop 20% in bergen co. You don't see value to value, but this is market price in Bergen. Location in Bergen co. is great to commute to N.Y. and easy to major high way. If your first time buyer there is great first home buyer program is going on present. Personally buying property is better investment to me, becauses invest in stock is too risky, I can not reliable on it. Property's you could live in or rent it out or sale it. To me buying property is better investment then stock. But of course that is only my opinion. I also looking into buy, If you want to discuss more you could contact me @ (201) 310-4087, Good luck to you

Regard,
Julia

There are so many towns in Bergen county with an easy commute to NYC which is great. In my opinion the specifics about each town are really the most important part of making a decision. In Bristol CT I bet you can tell me which are the best schools,the best and worst neighborhoods and details about your town that I could not possibly know without being from there. That's the kind of information you need from a local Realtor, someone who really cares to find out what YOUR family needs and wants in a home town. This will make the move and experience soo much more successful. I'd be happy to give you some info and suggestions and if you decide on a town I'm not completely familiar with I'd be happy to send you the best person for the job! Call me 201-739-1132 .Best of Luck!

Well if you pick a town with an excellent school system you will keep your value high since it is an area where people love to live and usually after 5 years there will be an equity in the home. This is not a usual market this time the prices have dropped more and we do not know for how long this will take place but it is not like in other areas of the country. Some people have lost money in the stock market but Real Estate around northern NJ has had a drop but not that much and now there are no longer ridiculously high prices as a few years back. I see this as a great market to buy due to lower prices and if you get a good deal of course your home will appreciate in my opinion more than any other investment. Your Estimate is 2% per year appreciation? Real Estate has it low and high every 5 to 10 years or others say 4 to 7 years this is a normal cycle in Real Estate. People whom make their move when the market is low usually are better of than those who buy when the market is high. the Trend is that people buy more when prices are higher and investors buy now and they may make a few bad moves but over all they make money when things stabilize.

You can e-mail me for listings in Bergen County mia@villonrealty.com. there are several homes on the market with your criteria as what town is best for your needs I would like more information most of the towns are competitive and depending on what you need we may pick a few to start looking.

Good luck.

well on average most areas in Bergen county have declined 20% plus in the last 2 years but latley some areas seem to have flattened out. No one really knows if we have reached bottom yet and if we have how long it will be before prices start to rise again. The conventional wisdom is that there will be a period of flat prices as we clean out the existing inventory before the demand exceeds the supply which is the norm in the Tri State area.
I do not think anyone knows at what rate houses will appreciate but one of the reasons we are in the mess we are in know is that too many people got into the way of thinking of property as an investment for gain rather than a secure place to live . You buy Microsoft for your 401K as an appeciating asset but you buy your house as a home to live in, not a a speculation nor as an ATM
With your budget there are any number of towns open to you and in terms of value combined with taxes and easy commute Bergen county is usually the top of peoples list - especially if you include schools in the wish list.
A town like Glen Rock comes to mind. 2 railroad stations and easy access to the highways if you wanted to commute by car. One of the top rated school districts and with its neighbor Ridgewood a center for shopping and social activities.
If I can be of help check out my website below and drop me an email.
Regards

Hi Snow,

Forget value appreciation for the next few years. It cannot be counted on. It may happen, but probably not. Buy a house because you want a house, not because you want a capital gain.

Having said that, the highest probability of appreciation lies in towns like Ridgewood, Ho-Ho-Kus, Glen Rock, Allendale, etc. However, your budget is insufficient for a nice home in these towns. You can get an older Cape, Ranch, or Split for that money, but not something really nice.

If you want a capital gain, do not look towards real estate. It's unlikely at best. If you want a $550,000 house near New York City in a premium town, plan on settling for something small and old. If you want 4BR-2.5 Baths-Young, plan on a 90+ minute commute.

That's the reality of the situation at the present time.

-Marc