The Housing Slow Down Has Started Not Only in Nutley But Other Towns As Well.
But it's ok we still see small appreciation in town and we have gained a lot of the equity that was lost in 2008, but we are in for a correction and it's coming soon.
I know a lot of home owners are thinking that property values are going to sky rocket in Nutley once the the former ROCHE plant is fully operational, but that is not going to be for at least another ten years.
Here are several reasons why the ON3 Development in Nutley won't have an impact right away.
• Massive Tax Incentives For The Companies 7 Site ( Less money for Nutley)
• Rising Real Estate Taxes in Essex County
• There is a Minimum 10 Year Build Out (which will tax the towns resources in the meantime)
I am not saying that 15 years down the road we might not see a net benefit but, In my opinion it will be awhile before Nutley sees a positive economic benefit.
Overall Nutley is still a great town to raise a family and live, it's just going through it's growing pains.