Tammy Brown, Home Buyer in North Plainfield, NJ

looking to purchase at the Lofts at Washington Town Center. Is this a good value? Seems to be a bit overpriced

Asked by Tammy Brown, North Plainfield, NJ Sat Aug 30, 2008

vs. newer models in Foxmoor. Is this a good long term investment?

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Tammy: What you have here is an experiment. Never before (at least since the end of WWII) have big retail and office buildings been built this close to a through highway. The homes, reminiscent of big cities of yesteryear, are also built right up to through roads. Of course, there are "back streets" as well. Will this work? Will the proposed by-pass allow what is now route 33 to become the Hollywood and Vine, Clark and Dearborn, or will it degenerate as did State and Broad in Trenton? Will the gas crunch spur the development of regional downtowns, such as you used to find in area such as Mayfair, 69th St. terminal and Frankford in Philly and, if so, will Washington Town Center be one of them? Stay tuned for the next episode.

On the other hand, Mill Hill, in Trenton has held its own, despite being isolated and not really having a walkable downtown nearby.

Bottom line: It's more risky than the older style of suburban development but may be the wave of the future, if not universally, then at least in this location. As far as comparative costs go, you can get an agent to compare area to area and trends within areas anytime you chose to work with one. I'd recommend sitting down in their office and exploring real figures. The rest is all speculation, just as it would be in any area. Even Princeton and Moorestown have their pauses and Cherry Hill switched from west to east as "the Neighborhood.
0 votes Thank Flag Link Sun Aug 31, 2008
I am not crazy about any of town center as long term investment though I have sold many there. Biggest reason is it lacks home owner assoc and dues which usually assure the place is kept up. There are parks etc.
0 votes Thank Flag Link Sun Aug 31, 2008
Contact an agent who can represent you. I would think if you believe one property is overpriced have you research what is offer to residence for that community, HOA dues covers and etc.
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Web Reference: http://www.lynn911.com
0 votes Thank Flag Link Sat Aug 30, 2008
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