One could search far and wide for a U.S. real estate market not affected by the housing collapse without even a little success. Home values have declined to levels once thought impossible. Is there a silver lining? Perhaps, where Homes in New Jersey.
Though prices of Homes in New Jersey have predictably dipped, properties are still in demand. The near-term forecast is undoubtedly gloomy, but the long-term horizon is promising. Consider that according to the Federal Housing Finance Agency’s August 2009 report, New Jersey home prices have increased by more than 10% over the last five years, and by more than 130% since 1991.
Real estate is first and foremost an investment. And while real estate investors have dealt with their share of pain recently, Homes in New Jersey have one advantage over those in other states: proximity to two of the country’s most prominent cities.
The U.S. economy has clearly adjusted for the worse, but New York and Philadelphia will continue to offer myriad opportunities. And from the front door of your Home in New Jersey, it may be a short drive, train ride or ferry trip to one of these booming metropolises.
New Jersey, however, is not simply a stretch of suburbia between New York and Philadelphia. The Garden State offers several of the world’s largest corporations, not to mention first-rate entertainment, dining and shopping destinations. Whatever professional or leisure options you might be seeking, New Jersey does not disappoint.
After all, who hasn’t enjoyed a trip to the Jersey Shore? Millions of residents live within miles of the state’s numerous beachside towns. From Cape May and Stone Harbor at New Jersey’s southern tip, to unique Central Jersey communities like Spring Lake and Belmar, the Shore presents its own high-profile real estate market.
So why seek out that perfect Home in New Jersey, as opposed to property in nearby states such as Connecticut or Delaware? Nine million people can’t be wrong.
Not only do New Jersey families earn the second-highest median income in the U.S., but they also enjoy infrastructure, educational and entertainment benefits that few states can match. The question remains: Is there a silver lining? If anything, now is the right moment to buy with bargains on every street.
It’s time to make your home sweet New Jersey.
