First Time Homebuyers Misconception of Moorestown

Many first time homebuyers I work with typically want to stay in the $250,000.00 range and below. They provide me a list of towns they would like to buy in, but rarely consider Moorestown. This perception that there are no opportunities to buy in Moorestown below $250,000.00 is false.

In 2007 close to 40 homes sold in Moorestown from $250,000.00 and below. These homes were a mix of twins, townhouses, condos and single-family detached homes. Even as I write this there is a great 2 bedroom, 1 full bath home with a garage on Collins Avenue.

Yes, there are usually fewer options (less supply) in this price range and it will take you longer to find a home in Moorestown in this price range. However, you should consider the town a smart investment given the blue ribbon schools and steady appreciation of property values since 1999.

With all this in mind Moorestown doesn’t work for all my clients because they may need more bedrooms, new construction or closer proximity to work or family. When this is the case we are usually looking at neighborhoods in Merchantville, Pine Hill, Audubon, Collingswood, Haddon Heights, Haddon Township, Berlin and the surrounding towns.

Regardless of where you are looking you should begin to review how you are managing your money and using your credit. For all my clients I provide them a FREE workbook - “Preparing to Buy a Home”.  Just e-mail me your name and mailing address.

Happy house hunting! Please check back for other helpful tips on buying your first home.

MiPro Stands -- History Made in Mount Laurel, N.J.

As Matthew Stoloff indicated to me via e-mail it appears the decision will stand regarding Mount Laurel vs MiPro case. For further information take a look at Petition Denied. Thank you Matthew for providing the link and let Matthew and I know what you think. Should this decision stand?

Use of Eminent Domain - Mt. Laurel vs MiPro

As a resident of Moorestown this article regarding the use of Eminent Domain by Mt. Laurel Township caught my eye. To read about it visit the article in the Burlington County Times

At first I was shocked and concerned how in the United States that the right of an individual (or in this case a business) to own property could be stripped away. Yes, open space is very important and useful to every community, but something about this ruling concerns me. What is next? Will the economics of purchasing a property really slow townships from acquiring land? Will land owners truly get fair market value or the potential value the land would be worth fully developed?

This ruling's impact is still unknown, but in my mind it just became a little tougher for land owners. What do you think?

For more intellectual analysis and some historical perspective regarding Mount Laurel Township v. Mipro Homes, LLC visit the following sources and then let me know what you think about this ruling.

(1) A Taste of Things to Come?: Eminent Domain in the Name of Population Control by Matthew Stoloff

(2) Fresh Twist on Eminent Domain as seen in The New York Times

(3) Use of Eminent Domain to Halt Development by Vincent J. Mangini

(4) N.J. Supreme Court Affirms Eminent Domain Decision in Mt. Laurel v MiPro Homes by Bill Ward

(5) N.J. Justices say towns can seize developers' land - Ruling expands eminent domain by Kate Coscarelli from The Star Ledger as seen on New Jersey Conservation Foundation News Coverage