What is the outlook for Newark NJ, will it be worth a buy now for RE appreciation?

Asked by Lena Li, Bronx, NY Sat Mar 17, 2012

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Rahzhak Mizh…, Other Pro, Bloomfield, NJ
Wed May 30, 2012
"To live in any city/town or simply question the outlook, a buyer/seller must understand its' politics." Statement made by Roger Williams (1990-92 former elected official).
Please visit: http://www.ci.newark.nj.us/

Newark wins de facto home ownership increased, new businesses were established, multicultural environments: Hispanic, Portuguese, Africans Americans etc., walk score to area stores we give a seven ( in most communities), because their mayor is very involved and crime decreased. To know where to purchase a home; visually evaluate 6 or more school systems in various school districts. One must consider...Newark need 'more' proactive investors and residents, in order to see positive progression; on all levels.
Final answer: Yes.
Only negative>NJ Taxes
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Paul E. Wash…, Agent, Livingston, NJ
Sun Mar 18, 2012
Hello there! Additional corporate economic growth in The Brick City such as the Panasonic worldwide HQs relocation, commitment of Prudential Financial, Inc to stay and grow locally, The Prudential Center serving as regional host for the NCAA College Basketball Tournament, and, most importantly several initiatives to improve education as accurately addressed by Mr. Hughes in his response, all serve as evidence that Newark is once again on the rise. Hope this perspective proves helpful in your personal real estate assessment.
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Ibrahim Hugh…, Other Pro, UNION, NJ
Sat Mar 17, 2012
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
Rock Realtors
Realtor Associate
4 Bloomfield Avenue
Bloomfield, NJ 07003
Tel: (908) 578-1981
Fax:(908) 320-7997
Email: ihughes1970@gmail.com
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