I am not a realtor, so you or anyone who are buying or not does not benefit me; however, I have found many Trulia Realtors did provide very professional answers and shared with hundreds of prospective buyers their great experience and vision.

Why it is good time to buy? They market says it is a good time to buy. e.g. Westgate at Edison just have 5 more units sold under attorney review as you can click to see http://msx.mlxchange.com/Pub/EmailView.asp?r=335238131&s=MSX&t=MSX and for past 12 months around 50 units sold and closed. So, it is the market saying it is a good time to buy.

Also, if you shop around on CD rates like Danny who found the CD rates in Bank of American is only 1% to 2%, similar to JP Morgan Chase ...etc. so you can understand why he just bought condos in Edison for investment in cash! He or another other savvy investors would sure to be glad that you do not buy but stay as his long term tenant. Why not? $1,400 a month for 1br 1ba condo at Edison Hollow South http://raspberryct.blogspot.com/ that is currently sold out!

By the way, even it is good time to buy at Edison, it does not mean you can always find what you want. Why? Other than Edison Hollow South, Edison Manor is also sold out too, and many condo/townhouses communities in Greater Edison area also close to be sold out. So, again, it is market think it is great time to buy, it is objective data showing that, not subject guess.

Thu May 15 2008, 14:13

My only thought is on a site populated almost exclusively by a group of people who make a living from keeping sales going, why would you think you'd get an unbiased answer here? There are a few very good posters around here, and from my experience, the NJ boards has more than most, but still, 95% of your answers will be the NAR mantra straight from the mouth of the Iraqi Information Minister himself, Lawrence Yun, "Now is a good time to buy!"

Wed May 14 2008, 13:00

It's a fantastic time, actually there couldn't be a better time due to us still experiencing some of the lowest interest rates ever, historically speaking and prices which have fallen but that appears to have just about bottomed out or is very close to it.

There are many deals to be had but those are from Foreclosure and Pre-Foreclosure / Short Sale properties however they do not dictate market value, they artificially lower the value of homes via the need to sell and sell NOW!

Low Prices & Low Rates = Good Time To Buy / Buyers Market

We have been experiencing this for some time now however for some reason there were many more buyers when the prices where higher than ever!
(Reason: It was way too easy to get a home loan even if you had little to NO money to buy!!! Everyone dreams of home ownership and if you dangle that prize in front of anyone, they will leap for it.)

High Prices & High Demand & Low Rates = Sellers Market

Time to form your own conclusion....

Good Luck in your home search.

http://www.RealRep.com

Wed May 14 2008, 12:19

If you are talking about the Centerplace at Edison, you do not have to worry. Why? I went over there one weekend and saw hundreds of buyers looking to buy, and some phases even sold out, not yet built.

The most important is that it is right next to Middlesex County College where Middlesex Academy of Science based, this new high school won #1 in NJ Science League Physics competition over hundreds of all other high school in 2007.

Besides, Edison is top 3 safest town in NJ, and most populated Indian township in the US, that is to say you shall get many more people moving in and housing will be getting crowd each year.

I know people renting out their 3br townhouse at Victoria Park for $2500+ http://victoriaparkatedison.blogspot.com/ If yours is new, you should be able to get more if you choose to move up to bigger home and just rent it.

I got lots of info about townhouse and condo market in the area, and when disclose some, people just decided to buy. e.g. I went to Rivendel yahoo group to join the debate of "buy or not to buy", and I was thrown with lots of news links trying to slash the price, but I countered by first hand real time sold info at Edison; I won the debate, and 18 members out of 44 said they were going to buy than rent.

I think your "friends" who scared you were because they watch too much TV and got scared by those who know nothing about Edison, including Greenspan.

Do you know how many Chinese coming to Edison want to buy? Why there are FOUR Chinese schools in Edison. If you know Chinese are the people who often BUY AND HOLD, you know Edison is a place very different than other place, may be another San Francisco.

San Francisco is #1 expensive in the US because so many Chinese families there just BUY AND HOLD. Another closer place is Highland Park near Edison, where most Jewish families also buy and hold, so Highland Park kind of expensive.

Late 2006, Lidia from Remax told me she got a 3br townhouse at Village Pointe http://villagepointeatedison.blogspot.com/ expiring could not sell, and I advised she hold consecutive open house in Thanksgiving time, and she sold it at 4th open house. Before hers sold, she sold other 8 units in the community, now it is almost sold out after dozens sold in 2007.

Why is that? because there are many BUYERS like you, but they are scared by the media, as soon as one went out to buy, his friends will all went out to buy. Also, many first time buyers renting in apartment do not know the area well to make quick decision. Many work long hours during weekdays in Wall St.

For example, one disagreed with me in 2006 saying his friend has unit at Traditions South Plainfield could not sell. So I just went check it out, I talked to dozens of residents to identify the prospective buyers come from Edison/Blueberry Village and Durham Woods, and get 1,000 message out to introduce Traditions at South Plainfield. dozens units sold in 2007, now almost sold out.

So, there are great demand in Edison area, people either buy or rent, once too many people rent, the apartment will be rented out, and rent will jump, so some matured tenants will buy. It is demand and supply.

So far, I have not seen any condo/townhouse can not sell, especially new ones if the owner get Jose 732 979-9100 to distribute 1,000 flyers to prospective buyer communities in Edison.

Sun Feb 10 2008, 09:31

Talk to someone from the area. Edison has been a great buy all along.

Edison has a great younger community , good schools and easy commute into Manhattan. A lot of "city people" move to edison for the commute. I bet to say you got a good buy and if you stay a few years, you should be fine. Real estate has always been the best investment. Period. If you got it at a good price and maintain the property, take the upgrades.. granite , tiles and such.. selling in the future should be just fine.

Nobody can ntell you what will be.. but again, real estate has always been the best investment for your dollar.

Will the market take that big upward swing again.. I think so.

Fri Oct 5 2007, 21:00

Did you have a Realtor represent you as the buyer? The representatives at the models and biz office are working on behalf of the builder. Every development is different, based upon how sales are going at that location, and the overall financial strength of the builder. Builders will sometimes stand firm on their base price, but grant concessions and incentives on upgrades and financing. Were you able to gain any advantages there? If you plan to add any upgrades, try to negotiate for your favor their.

Townhomes in NJ can swing quite wide in price variation. How the market is doing in one end may vary from the other.

While no one can see into the future, most Realtors and mortgage brokers do not see considerable volleys in valuations in the next few years. I do not see an accelerated downward trend for multi years. I also do not think that I will ever see in my liftetime a repeat of rapid appreciation as we experienced in the recent years. Many expect that the housing market will retrun to fundamentals, where it always should have been. Tighter lending guidelines, more stability to come in time, and very slow appreciation in the next 4 years are my best guesses.

Tue Sep 11 2007, 05:22