New Jersey residents share an inside joke. When introduced, the first question they'll often ask after discovering they both hail from the Garden State is "Which exit off the New Jersey Turnpike?" While natives certainly reserve the right to a little Garden State humor, the insinuation that New Jersey is nothing more than a series of exits off a turnpike isn't fair assessment of a state with genuinely picturesque suburbs, including Chatham, a community in which historical, yet immaculately preserved homes - red-brick Colonials, gingerbread-trimmed Victorians -- sit on quiet, tree-lined streets.

Chatham actually includes two neighboring communities in Morris County, New Jersey: Chatham Boro and Chatham Township. Collectively, these two communities are referred to as The Chathams, or just Chatham. Within a matter of weeks, Chatham will be blazing with the fall colors that bring so many leaf-peepers to New England each year. Why aren't they headed here, instead? Good question. In addition to scenery, Chatham has plenty of other advantages going for it - most notably, access to New York City.

Chatham is located a mere 25 miles west of the Big Apple. Residents are close enough to take their pick of public transportation (train or bus) or car, enabling people to work in the city during the day, then retreat to a quiet community at night.

Another distinct advantage: Chatham's crime rate, which remains low not only by New York City standards, but regionally, as well. The Chatham Regional School System is revered for its quality. The Chathams share a high school, and a middle school and three elementary schools are in the area, as well.

The communities also have easy access to two noted private schools, the New Jersey Association For Children With Learning Disabilities and Newark Academy. Two local universities - Fairleigh Dickinson and Drew - offer their own libraries and other educational resources. Its sense of community is strong, and you'll experience it in the heart of Chatham: Main Street, along which a significant percentage of the town's businesses (including commercial offices, retail shops and restaurants) are located. Despite its quaint village feel, several major corporations have taken up residence in and around Chatham - thanks in part to strong sense of community as well as its proximity to New York. Exxon, Nabsico, Prudential, AT&T, Schering-Plough, Lucent Technologies, Novartis, Atlantic Mutual and American Home Products all call Chatham and its surrounding environs home.

New York isn't the only attraction outside Chatham's town limits. Culturally, Chatham has much to offer, partly due to the presence of Drew and Fairleigh Dickinson universities. These two institutions present art exhibits, music, theater and dance performances and lectures throughout the year. Local orchestras and small theater productions are also close by - particularly at the nearby Millburn Paper Mill Playhouse, which presents a variety of shows. While it's difficult to resist the lure of Broadway theater, there's still something to be said for smaller productions, and locals continue to support these community efforts. One of the best aspects of life in Chatham is that its residents have access to more outdoor recreational venues than do their Big Apple counterparts.

Several parks are located within a short distance from Chatham, including the Morristown Historical Park in neighboring Morristown and the National Wildlife Preserve, also known as "The Great Swamp," comprised of portions of 10 different towns located within a 55-square-mile radius. Both of these parks offer nature trails for hiking. Other favorite recreational pasttimes include ice skating, golf, swimming and tennis - not to mention shopping. New York City, of course, owns the bragging rights to some of the world's most glamorous shops. However, other nearby suburbs - including Shortills, Morristown and Livingston - offer their own shopping, entertainment and restaurants, and while they won't put New York out of business, they do cater to refined tastes and big bank accounts - and without the associated traffic and stress of big city life. The Mall at Short Hills, in particular, is a favorite among locals and tourists. Bargain-hunters won't be disappointed, either; several major outlet malls are located within an hour's drive from The Chathams.

In addition to the sprawling, historic residences described above, The Chathams offer a variety of housing to accommodate all lifestyle and economic preferences - from condominiums and townhouses to a diverse assortment of apartments. These other options have allowed more aspiring homeowners to take up residence in what has become an increasingly expensive suburb. While proximity to New York City nearly always raises the value of any home, The Chathams do, indeed, contain an inventory of beautifully preserved older homes, most of which come with a price tag likely to give you sticker shock.

The median housing value of Chatham Borough is $307,000, according to 1999 statistics provided by Coldwell Banker. A search of local properties validates that figure; in fact, many three- and four-bedroom single-family homes currently on the market in Chatham have asking prices well into the $300,000s, and plenty of others are priced in the $600,000s well up into the multimillions.

Regardless of your budget and the subsequent size of your home, however, as a resident of Chatham, you'll reap the benefits of local amenities, easy access to one of the world's most spectacular cities, and the scenery of a picturesque town with an excellent quality of life, top-notch educational resources and a strong sense of community. In short, an investment in Chatham is a smart one. Property values here are very likely to remain high and the economy strong. For that reason, businesses are likely to continue relocating here, and aspiring homeowners will continue to grab for a piece - no matter how small - of the American Dream in The Chathams.