If real estate slow, why Traditions Condo/Townhouses at South Plainfield NJ sold 3 more and now SOLD OUT?

Dr. Cheng, real estate market activity is site specific. If you look at market activity in the us as a whole, you might think that things are bad everywhere. This is not the case. NJ, being located between NY city and Phillly employment centers is the exception to the national market trend. Then look more specifically at citie/towns/locations that have train stations in the immediate area. These areas have not seen the drastic reduction in pricing seen elseware in the country. Areas that have easy access to major routes, ie 287, 22, Pkwy, TPK etc in addition to train stop locations have higher demand. The market has slowed from its unrealistic pace of a few years ago, but it is not dead. Homes in desireable locations that have the ammenities, attributes discussed above still are selling. I have managed acquisition/entitlement of over 6,000 units of multifamily development in the NJ region. Opportunities are still there!

Scott A. Blow, JD/MBA
Ainsworth Real Estate Development, LLC
Scott@AinsworthDev.com

I have a 2 bedroom in Traditions that I am willing to sell. I have a 2 bedroom condo with a fire place and there are few units with fireplace. I am on the ground floor and that is good if you have visiting parents. I am renting right now but I work at a University in North Jersey and I was thinking about selling. If you are interested, have your realtor contact me at dolee@optonline.net.

218 Lucy Ct South Plainfield NJ 07080 2br 2ba condo at Traditions just sold under attorney review at $274,999 ...

705 Margaret Ct South Plainfield NJ 07080 3br 2hba 1ga townhouse at Traditions near Edison Train Stn justSold under attorney review at $419,900 ... 9-17-08

In declining markets and buyers markets I've typically found that Condos & Townhouses do better than single family homes as far as desirability, price may still take a slight hit but they tend to become more desirable just like rental properties.

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Victor Kaminski
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I have a 2 bedroom in Traditions that I am willing to sell. I have a 2 bedroom condo with a fire place and there are few units with fireplace. I am on the ground floor and that is good if you have visisting parents. I am renting right now but I work at a University in NOrth Jersey and I was thinking about selling. If you are interested, have your realtor contact me at dolee@optonline.net.

The market isn't "slow" in that it doesn't move... it just moves slower than in a better market... and prices are not increasing every week.. but there isn't a collapse.

I have a 4/5 BR home in Freehold area that in the stronger market would be selling for $1 million or very close to it... the home a few doors away sold in January 2007 for $945K... A home around the corner just sold for $889K...That's a pretty big drop but by no means collapse... If you were interested in a home like that, I am a private investor and have one available for under $840K (50K less and it's a bigger house on a better lot).. let me know... lisa@lmspropertiesgroup.com

Ok, here is the MLS link I received, and if you take a look at the status field, you see they are under attorney review, and if you click thru the left bottom corner, you see there is another one already under contract, and some already sold... http://msx.mlxchange.com/Pub/EmailView.asp?r=1406597676&s=MS…

If you click on the pictures, you shall see all the photos of those units to get a first hand idea of the units.

I told my father to tell his friend, if Shoprite supermarket can raise orange juice from 99 cents to $1.88, he could rent a 2br condo, instead of $990 a month, but $1,880 a month. Or if Shoprite can raise Apple Juice from 88 cents to $1.50, he could rent a 1br condo, instead of $880, but $1,500. So they all get excited!!!

Don't tell me "rent control", even Governor of NJ is going to raise NJ Turnpike and GSP toll by 50% ... Why can't builders, instead of going bankrupt, but rent out their condo and townhouse at 50% more rent? You, as state governor wants to balance the NJ budget, why NOT builders?

My father's friend think $200,000 1br 1ba condo is too expensive to invest for $1,375 rent, but when I convince him that after NJ Governor increases all major tolls by 50%, he shall have a potential to increase his rent by 50%, to say $2,000 a month. All of a sudden, he said he would talk to many of his wealthy friends in Beijing to come over to invest in real estate in the US.