This have driven prices up and returns down.

Hello BP'ers,Due to conflict of interest I will not rent to someone I work with, however I can personally vouch for his character.  

I have also driven the area a bit although I live nearby so I know it fairly well.  

But that being said, the OP asked why would anyone sell a good asset and while I agree with what you say, I've seen plenty of transactions driven by ego!

A lot of people see real estate people as shady characters.

The character in this home is amazing.

I'm extremely driven and motivated and determined that nothing will stop me from achieving any of my goals.

But for those that have the Character Credit and Capacity its the only way to go.How can you argue with 5 to 6% money @ 90% of cost... ? 

Years ago, I lived on the outskirts of town, and when I'd drive my VW Bus into town. there was an old man in a black wool coat (it could be 100 outside, still the same) he had long gray hair (he looked like a character on Laugh In) and he'd be hitchhiking.

@Will Barnard @J Scott Thanks a lot guys this is probably one of the hottest markets in NJ and is all driven by Wealthy New Yorkers leaving the city for a small city suburb with NY direct train line.