Raanana is a beautiful small city situated North of Tel Aviv. It is close to Herzelya and Netanya and its real estate is very desired by many immigrants especially  Anglo's and French immigrants.  Modiin is  cheaper than Raanana, many from Modiin upgrade, when they can afford it, to purchase property in Raanana. Prices of houses begin at about $700k and many are much more expensive. There is a fantastic community spirit and Raanana has many synagogues. The main street in Raanana is full of many interesting shops and is enjoyable to walk through and shop or you can just have fun by sitting down for a cup of coffee.
You can read an interesting description about the city at: http://www.israelnewsagency.com/raananaisrael140068.html

Bloomhousing has a very experienced, English speaking  broker who is working in Raanana and anyone who is interested in buying property in there should contact me at michael@bloomhousing.com and I will be happy to put you in contact with her.

Have a wonderful day

Michael Bloom