Co-worker moved from Metuchen to Westfield. We work local in Metropark. But when we were taking the Acela back from DC this week, he pointed out the new parking deck and downtown development, stating that it would have been nice to have that stuff there when he sold several years ago. Metuchen went from a "A" town to an A++ town with those additions. It was already great.
Also, vacancies have gone from 22% to 4% over the last several years as the downtown has really bounced back well from the last recession, which is part of why Metuchen was one of 3 winners of the "Best Main Streets in America" award last month, although the award isn't why the real estate market is so hot, as that's been going on for many months. Lots of great new businesses/restaurants and the downtown has become more lively with the influx of people living downtown in luxury apartments and townhomes.
As someone who works from home all but 1 day a month I totally agree. I’m at the tail end of my career so it works for me but everything I know about my job was learned by being in the office and having those conversations with co workers throughout the day.
I was driving through Metuchen today. The traffic is a disaster. Even though it’s a very walkable town, it seems everyone drives. The roads aren’t designed to handle the extra traffic from all of the new construction.
Have noticed that too. There's a house with a Rutgers flag, a wide lawn and still has snow in the front yard, you can use that front yard as a bypass. You get a free weather report too when you drive through.
My big firm attorneys (Partners) bill at 2k per hour because they bill NYC rates. My 2nd tier (but still Partners) bill 800 per hour because they can bill out of Jersey rates.
We are lower than both rates. Those are insane unless for a specialty. Our field has some high hourly rates.
The justification was you pay for the overhead (NYC rent). If they are working from home, the delta between the two partners should be closer.
Traffic is definitely an issue around rush hour and after before/after school, but it's not so bad at other times and IMO it's only marginally worse than it was when we moved in 30 years ago. I don't think much can be done about it, given the streets are limited, population has grown a bit (not that much, really) and there is so much to do downtown. I'd much rather have a lively, crowded downtown than the opposite.
I’m following Lavallette. A beach block new construction just listed for 3.1mm. Think that’s record price for none ocean front.
I bought on LBI 12/2020. Just went under contract at a 43% increase from what I paid.
Are you Jesse Waters? 😉 --He actually "may" have done better than you.
jerseydigs.com
I am not lol, surprised his hasn’t sold. It took me 5 days. I have not gotten another place, I’m relocating to San Diego, so it will just be an occasional LBI rental with family/friends moving forward.Are you Jesse Waters? 😉 --He actually "may" have done better than you.
Did you get another place?
Fox News Host Jesse Watters Lists Long Beach Island Home for $1.85 Million | Jersey Digs
Fox News personality Jesse Watters is looking to sell his vacation house along the Jersey Shore on Long Beach Island.
Only 43% increase. Maybe you should’ve found a better realtor.
Nice. If leveraged at 80% LTV thats a solid 200%+ return in 3 years
How's the buyer's market in San Diego?
Similar to here, not a whole lot of inventory. I might rent for a while if needed. LaJolla is definitely on the list along with Carmel Valley, Encinitas and a few others.
I retired right before COVID hit and I'm sure I would've hated working from home in my old job as director of process development with groups of 20-30, typically. In that job, I used to walk around the floor where all my folks were a few times a day, checking in on things in the lab or pilot plant or just on any key issues and those conversations would often lead to impromptu hallway "meetings" on these key issues, often resulting in brainstorming that led to important ideas and solutions - and some of those discussions were much richer when they took place "on the floor" (gemba) where the work was being done and actually seeing how some reaction or process (or troubleshooting problem) looked in the lab or pilot plant.
