Hi. As a realtor and investor who works and volunteers in Newark (among other towns and cities) I can honestly opine that the city is poised for continued growth in its future. Particularly, in "attractive" areas like Downtown, the Ironbound and Ivy Hill. Newark's taxes are relatively low and the city is currently undergoing impressive revitalization placing it on the national (perhaps even global) radar of Investors, artists and philanthropists. Surely you've heard of Mark Zuckerberg's $100 million gift to Newark schools, NJPAC, the Prudential Center, the new Marriott Courtyard hotel being built downtown and the recently announced $120 million Teacher's Village.
Combine that with the opinions of several market analysts who believe that many markets have bottomed out and the real estate market in general is starting to rebound.
While there are no guarantees about Newark's or any other market's future, I would say that in my opinion certain parts of Newark are a good bet for your money. Of course that still means that you have to crunch your numbers and buy right.
If you require any assistance with investigating Newark further for a possible investment or home purchase, feel free to contact me. I'd be more than happy to help:
Ibrahim S. Hughes
4 Bloomfield Avenue
Bloomfield, NJ 07003
Tel: (908) 578-1981