@ Ron Thomas
As an agent from Fresno California how can you comment on a question directed at a specific city here in NJ, and where do you get the nerve to say:
" Perhaps you should be blaming the City of Edison for being so far behind the times that they cannot bury those lines.
How about blaming all the people who have bought, paying those exorbitant prices for obvious sub-standard housing "
Sub-standard housing? Just because there are overhead SECONDARY power lines? How the heck would you know what the housing was like in Edison when you are in Fresno? I hate to break the news to you, but I just drove all over central NJ yesterday and guess what...a majority of the towns have overhead lines, including some of the "ritzier towns" where the per capita income ranks #10 in the country !!!
Exorbitant prices?? This coming from a man who lives in a state with ridiculously high housing prices and property taxes? Our town is close to NYC transportation (NY is a major employer of or residents), major highways, and has great schools. You pay for the priviledge of living in the suburbs with great schools, transportation options, and being close to your job too. It's all a matter of what means more to you...low purchase price and living in the boondocks, or higher prices and convenience of commute etc.
Houses are selling like hotcakes but are overpriced? THAT makes a lot of sense. Guess it depends on your perspective...are you a buyer or a seller? You got 4 x your purchase price so I guess your homes WASN"T overpriced, but I bet the buyer felt it was overpriced and tried to get it for as little as humanly possible. The market will only bear what a BUYER is willing to pay for a specific home.
Houses near HIGH VOLTAGE TRANSMISSION TOWERS (like Roxy) sell for less than a competitor a few blocks away?...YUP...and they are priced accordingly, but they DO sell...otherwise we'd have a lot of vacant/vandalized homes in those areas.
Houses on a street where there are overhead wires bringing electricity into the house are all overpriced? In some cases yes, (but that's the seller and listing agents fault for not heeding the comparables) but those lines are not a factor in price to just about everyone but Homebird.
I will reitereate, if you don't want to buy a house in NJ with power line poles on the street, don't buy one. Pricing depends on recent comparable sales, and factors like location, # of rooms, style of home, upgrades, lot size, amenities, etc., (and yes if there are tranmission towers in your backyard).
Especially in this market (and with internet savvy buyers) an overpriced home will not sell, or will eventually sell for less than original list. I still think that this is a sour grapes situation and the houses HOmebird and are not within reach so they are "all overpriced". There's plenty of reasonably priced resale homes in North Edison, and Edison in general, but if you want the brand new, 4000sf houses, you are going to pay for that.