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Real Estate In Nj - Real Estate in New Jersey

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The cramped space and limited amount of waterfront in New Jersey has created a very interesting and unique real estate market. Sandwiched between the major economic and political cities of New York and Washington, New Jersey is a “drive through” state in which property near the interstate may in fact be almost as valuable as property on a bay or other major waterway. Most of New Jersey’s wealth comes from a mixture of industry and services for these two major cities, supplying goods and services to both of them as well as the American market overall.

Persons curious about real estate in New Jersey should first decide whether they want commercial or residential real estate. Unfortunately most of the industrial real estate in New Jersey has lost value due to increased competition with foreign industrialists who do not need to worry about pollution control standards and have access to inexpensive waterfronts. Still, there is a large amount of commercial real estate in New Jersey. Mostly this caters to companies who are associated with the goods, services and needs of other corporations on the east coast, but who need to purchase less expensive land than that which is found in New York or Washington DC. This is a boon to speculators, who may be able to purchase unwanted or underused warehouses for conversion to modern office complexes and strip malls. This is especially advantageous when new roads are being laid, as roads are the primary sources of commerce in New Jersey, excepting a few major ports.

New Jersey also offers a lot of opportunities in terms of residential real estate thanks to the fact that it is very near to major cities whose property prices are incredibly high. It is not unusual for a person to own real estate in New Jersey where they live yet commute to Washington DC or New York via train. In fact, New Yorkers are increasingly coming to live in New Jersey because they can purchase larger homes at lower prices yet still easily get to work by road and by train.

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