My name is Brian McCabe. As a Realtor who concentrates on the Forest Hill real estate market, I often find myself selling the outstanding value that Forest Hill affords North Jersey home buyers. A recent value comparison that I did for a Forest Hill buyer pitted Forest Hill against Maplewood.
Before laying out the details of the comparison, a caveat: the word value means different things to different people. Some values are purely dollar and cents. Some are nearly spiritual as in “I will pay anything to live in Montclair,” or Maplewood for that matter. If a buyer isn’t “spiritually” committed to one town or another, I believe that historic Forest Hill can hold its own quite nicely. It has the high quality housing stock, the historical heritage, and the undeniable value that sets it apart from other North Jersey communities. And, it’s nested in Newark, a city that is on the march forward … a city that some real estate writers refer to as the next Brooklyn.
So, here are the details: the buyer’s budget was between $400,000 and $500,000 and the down payment would total 20% of the purchase price in order to avoid private mortgage insurance. So, with those basics, here is what that budget recently bought in both locales.
On the basis of the numbers, Forest Hill is the clear winner because it delivers more house for a lot less money. But what about aesthetics? Here are both houses side-by-side:
View all MLS listing pics for both properties (pdf format)
Once again, Forest Hill is a clear winner.
In summary, I confess to being a big cheerleader for Forest Hill. I knew it as a kid growing up, and I know it as an adult selling real estate there. As I said in a recent post, if the amazing houses bring you to Forest Hill, your equally amazing neighbors will keep you there.
Can I show you around? You can reach me at 973-865-1863 or by email at firstname.lastname@example.org.