Princeton NJ Real Estate Homes » Information For Buyers

Princeton Real Estate Homes For Sale -215 Arreton Road Princeton NJ

Faina Sechzer — Fri, 18 Jun 2010 00:48:21 +0000

215 Arreton Rd, Princeton NJ - Living Room

Looking for Princeton homes for sale? Great value, perfect condition, and fantastic location – this executive home at 215 Arreton Rd in Princeton NJ has it all and more. This Princeton home for sale is Princeton real estate at its best.

Situated on a beautiful private cul-de-sac street in Princeton Township, this 4 bedroom, 2 1/2 baths home has undergone top to bottom renovation. It speaks the language of 2010 buyers, who want to move in and start enjoying their new home immediately.

Enjoyment opportunities are everywhere: vaulted ceiling music room graciously flowing into the living room, mansion size rooms not easily found in the newly constructed houses, master bedrooms suite, which makes hotel suites pale in comparison.

The quality is everywhere : gleaming hardwood floors throughout, marble master bath worthy of spa destination, brand new kitchen appliances, maintenance free Trex deck, newly refinished basement, and meticulously maintained 1 acre yard – the list goes on.

The backyard retreat overlooks acres of private land owned by the home owners association. Short golf game putting green, fire pit patio, and spaces for quite contemplation are part of 215 Arreton Rd, Princeton home’s landscape.

For a private showing call 609-553- 4175 Faina Sechzer, Princeton real estate agent, luxury homes

Thinking of buying or selling your house in Princeton NJ area - We can help
If you are considering buying or selling a home in the Princeton NJ Hopewell Princeton Junction Montgomery area…

Contact us at (609)-553-4175 for a FREE quote and to find Princeton Mortgage options and to search all Princeton Lawrenceville Princeton Junction Montgomery and Princeton homes for sale right now..

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Good News For Princeton NJ Real Estate – Tax Credit Amendment

Faina Sechzer — Sat, 07 Feb 2009 12:35:57 +0000

Tax Credit Amendment Was Approved by the US Senate

Princeton real estate is not completely immune from the woes of the housing market and the general economic recession everywhere else in the country. We discussed the effect of President’s Obama, TARP and potential actions by US Senate in my previous article. TARP has already had impact on Princeton real estate having stabilized banking companies and thus preventing further job losses. Many homeowners in Princeton area work in financial and related industries and the relatively low foreclosure rate in the area could have been much higher without TARP.

Last evening, the United States Senate unanimously passed a bipartisan amendment, creating a $15,000 tax credit to individuals who purchase a home in the next year. Senators Johnny Isakson (R-GA) and Joe Lieberman (ID-CT) were the sponsors of the amendment. here are the highlights so far:

Direct tax credit twill apply o any home-buyer who purchases any home.
The amount of the tax credit would be $15,000 or 10 percent of the purchase price, whichever is less.
Purchases must be made within one year of the legislation’s enactment, and
The tax credit would not have to be repaid.
The amendment would allow taxpayers to claim the credit on their 2008 income tax return.
Allowes only purchases of a principle residence
Recaptures the credit if the home is sold within two years of purchase (tp prevent misuse)
The amendment would sunset the current $7,500 housing tax credit on the date of enactment.

While the final details of the Stimulus Bill are still being debated, these provisions would help stabilize Princeton real estate by making purchasing a home in the Princeton area more affordable for the fist time buyers. It would also encourage the buyers who were waiting on the sidelines to come in the market to take advantage of this credit.

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Princeton Borough Homes For Sale

Faina Sechzer — Fri, 06 Feb 2009 17:49:24 +0000

We are getting many requests from home buyers who are looking for homes for sale in the Princeton area and would like to be in the downtown Princeton. The reason Princeton Borough homes for sale are so popular is because of the lifestyle they afford. If you live in most Princeton borough, you would most likely be able to walk to the Princeton Library, Princeton High school, and all the downtown Princeton restaurants and shops.

The commute is also very convenient. There is a train called Dinky, which goes from the Princeton University area to the main train station at Princeton Junction. Of course, Princeton Junction is just a few miles drive.

Princeton Borough is a historic college town, offering the charm of the old and the convenience of the new. With a 55 minute train commute to New York and Philadelphia it’s a good choice for home buyers looking to combine the urban and suburban life style.

You can see the live feed of the Princeton Borough homes for sale:

Princeton Borough Homes For Sale

Thinking of buying or selling your house In Princeton NJ area - We can help, in particular with Princeton Borough homes for sale….
If you are considering buying or selling a home in the Princeton NJ Hopewell Princeton Junction Montgomery area…

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Princeton New Jersey Homes For Rent

Faina Sechzer — Thu, 05 Feb 2009 01:36:00 +0000

Princeton is always desirable as a place for home rentals. Princeton homes for rents are sought by the corporate executives relocating for temporary assignments, people moving to Princeton because of job transfer who want to firs know more about the area before buying their home. As a college town we always have faculty and students looking for Princeton rentals.

Currently there are 26 homes for rent in Princeton. They range form $975 for a studio apartment to $8,500 for a 7 bedroom 5/1 bathroom home on Edgerstone Rd in Princeton.

This is what you could expect to pay:
$1,300 to $1,800 for a 1 bedroom apartment,
$1,600 – $2,600 for a 2 bedroom apartment,
$2,900 – $4,000 for a 3 bedroom townhouse or single family house
$4,000+ for a 4 bedroom single family home

This is the live feed of all the MLS Princeton homes for rent :

Princeton NJ Homes For Rent

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New Jersey Real Estate Property Taxes Taxes Too High- Poll Reveals

Faina Sechzer — Tue, 03 Feb 2009 18:01:42 +0000

NJ Property Real Estate Taxes, Real l Estate Transfer Taxes, and The Economy -Poll Results

New Jersey real estate property taxes are too high – say 95.5% of the people surveyed by the NJAR® Governmental Research Foundation. If you live in Princeton NJ, or any other town in the state of New Jersey your reaction may be: “Duh…”. You don’t need this study to know the obvious -you have your bank accounts as proof:)

Recently we examined the effects of the proposed initiatives of President Obama, TARP and Senate on the Princeton NJ homes for sale. This study some obvious and some interesting facts.

NJ Real estate property taxes

On the solution to reduce NJ property taxes the study* found:

36.3 percent favor consolidation of government services,
26.8 percent favor changing the way schools are funded,
12.8 percent favor reforming the state pension system, and
12.3 percent favor reducing government services.
40.2 percent believe reducing taxes and government fees is the most important issue government leaders should work on in the next two years.

Princeton NJ residents know that several attempts to consolidate Princeton Borough and Princeton Township have been defeated. It’s interesting, but not surprising given the traditional NJ political stance, that there is no overwhelming support for reducing government services.

New Jersey Real Estate Transfer Tax

47.4 percent of residents support a proposal to eliminate state realty transfer fees.
86 percent oppose the idea of imposing a local realty transfer fee.
67 percent oppose the concept of enacting a seasonal rental tax.

It’s interesting that less then half of the surveyed want to eliminate realty transfer fees. I have not met Princeton home buyers who decide not to buy their home because of the transfer taxes.

Stimulating NJ Economy

95.5 percent believe that the real estate industry and housing market are important to New Jersey’s overall economy,
52.6 percent of people believe the state is on the wrong track,
32.5 percent believe it is headed in the right direction,
34 percent believe improving the economy and attracting more jobs to the state is the most important issue facing New Jersey.
67.4 percent oppose raising the gas tax to pay for expanding and improving the state’s transportation infrastructure.
54 percent prefer creating conditions that give incentives to builders to construct affordable housing rather making polices that require them to do so.
76.7 percent opposed eminent domain being used for the purpose of economic development.

Overall, the findings are not surprising. New Jersey believes in the critical importance of the housing market, wants government to reduce real estate taxes and fees, yet not willing to to use eminent domain or reduce governments services.
May be it does come under the category of “duh”:)

*Source: NJAR® Governmental Research Foundation

Want to know know how the sate of New Jersey Housing impacts the value of your home?….

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Princeton NJ – President Obama’s, TARP and Bailout Plans – Effect on Princeton Homes For Sale

Faina Sechzer — Mon, 02 Feb 2009 19:04:16 +0000

Could TARP and the plans proposed by the president Obama and the Congress effect Princeton Homes For Sale?
President Obama’s plans could help Princeton homes for sale; TARP has already had impact on the Princeton real estate including first-time homes buyers, Princeton home sellers and many homeowners.
Princeton real estate homes for sale remained relatively immune to the devastating affects of the economy meltdown with median prices of Princeton homes for sale up and the foreclosures levels are relatively low. This may not continue if further fiscal interventions are not made.

The conditions in Princeton and neighboring towns of Hopewell homes for sale, or for Montgomery Township real estate, where the median prices have already declined.

Even with the median prices of Princeton real estate being up, many homeowners who bought their Princeton homes in the last several years and had to sell now, did so for prices equal or less to what they paid.

This week I discussed with a Princeton economist the impact on the Princeton homes for sale of the President Obama’s plans and the Proposals in the Senate. These ideas would apply to Hopewell real estate and to homes for sale in Montgomery Township. Here are the highlights of this discussion along with my interpretations:

Many residents of Princeton, Hopewell, West Windsor and Montgomery Township are employed in the financial and related businesses in New York. That’s why Princeton is a great place for people relocating and moving from other areas. It is also why stabilizing financial institutions has critical impact on the Princeton real estate.

TARP has already helped by infusing money into financial institutions and preventing many local residents from loosing their jobs.

Had the financial sector on New York been not helped by TARP, Princeton would have not been the relative oasis of housing stability compared to other areas in the country. Employees in the financial sector loosing employment would drive up the foreclosures which so far have been few in the area.

Various assistance parts of the bailout provisions could help first time Princeton home buyers and as well as many homeowners.

The Federal program to buy mortgages to drive the mortgage rates to the 4.5% could help first time buyers to be able to afford Princeton homes for sale. It could also help those who’s income has been effected by the pay cuts to refinance and hold on to their homes, preventing rise in foreclosures and further declines in the real estate prices.

The plan to use TARP to establish a special bank to buy toxic assets would shore up the banks’ balance sheets so they could start lending. Available credit could help both first time Princeton home buyers and those who need to refinance.

Senate’s idea discussed now to offer 4% fixed 30 year mortgage rates could provide a big boost to Princeton home buyers. As proposed, it would reward those who have good credit history and saved for the down payment on their home in Princeton, Hopewell or Montgomery Township.

Princeton is not an inexpensive choice for many home buyers. Lowering the mortgage interest rates and the idea of $7500 to $15,000 credit for first time home buyers could make more buyers to come able to afford Princeton homes for sale.

Assisting first time home buyers could do a lot for the whole spectrum of Princeton homes for sale. When first time home buyers come into the market it has a trickle up affect and triggers more transactions in the higher price ranges.

Thinking of buying or selling your house In Princeton NJ area - We can help
If you are considering buying or selling a home in the Princeton NJ Hopewell Princeton Junction Montgomery area…

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New Jersey Real Estate Buyers’ Profile

Faina Sechzer — Fri, 23 Jan 2009 23:29:16 +0000

Princeton Real Estate blog primarily focuses on the local real estate markets in and around Princeton NJ because real estate is super local and there isn’t much published to help Princeton NJ real estate buyers. What is reported on a national and state levels usually has little relevance to what’s going on in Princeton real estate, but may provide an interesting inside for Princeton real estate buyers and sellers.

I follow these reports to understand if and how they could effect out local Princeton real estate markets and ways in which our market is different. National Association of Realtors has released it’s annual profile of home buyers and sellers which has some interesting information.

They site Interesting statistics regarding the timing of the purchase.

46% reported it was the right time for them to buy
18% reported they had to purchase when they did
22% reported buying because of affordability and availability of homes for sale
Only 4% stated they wished they had waited to buy.

These numbers most likely confirm the psychology of the buyers – those who bought would be unlikely to say it was the wrong decision. More interestingly would have been to know, what percentage of the home buyers who were in the market ended up buying. But these statistics are not in the report.

Another interesting point demonstrates the changing mind set of the buyers. 50% of the buyers used social networking sites such as MYSpace, Facebook and others in their search. Among the younger buyers age 18 to 14, 38% used these sites daily, or nearly daily.

Here are a few other highlights from the report:

The median 2007 household income of home buyers in New Jersey was $90,000, compared to $74,900 nationally.
First -time home buyers accounted for 49% of recent home purchases.
65% of the first time home buyers were between 25 and 34 years old.
The median price o homes purchased was $306,000 compared to $204, nationally.
Typical buyer purchase a home that was 1,740 square feet in size.

These numbers are probably different for Princeton area real estate because our median prices are much higher which lowers affordability for many first time home buyers. I don’t have the exact numbers, but I see certain similarities – many young buyers with a different approach to finding their home.

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Princeton NJ Homes For Sale – Buyers Market And Multiple Offers

Faina Sechzer — Fri, 16 Jan 2009 17:00:13 +0000

Princeton NJ Homes for sale are the main focus of this blog. NJ, Princeton real estate sellers and buyers often ask if multiple offers happen in the Buyers market. The answer is “yes” and this article looks at the reason why.

Back at the end of the summer 2008, I wrote an article “Princeton Buyers Market and Multiple Offers” about

Princeton houses multiple offers

multiple offers happening at that time. Last week New York Times reporter Antoinette Martin to ask if this is still the case. My answer was that it is still possible -some Princeton properties for sale still have multiple offers. I wanted to to take a broader look at the issue, not limited to my experience only. I examined all the home sales in Princeton New Jersey in the last 6 months to see how many Princeton NJ homes sold over asking price. Princeton property sale over asking price is usually a good indication of several buyers competing for the specific Princeton house.

This is what I found.

1. In the period of June – September 2008 out of 103 Princeton houses sold, 18 (17%) were sold over the asking price. Thirteen houses out of these 18 – were sold for less then $1,000,000.

2. In the period September -December 2008 the situation changed. There were only 51 houses sold in NJ Princeton. Of them 2 (4%) were sold over asking price.

3. There were homes that sold over asking price multiple times. What made these homes special? I found several common threads:

- desirable location combined with amenities, such as 134 Moore Street, and 229 Moore Street, NJ Princeton.

- pricing the homes at the pre- 2005 prices.

4. The increase over asking price for many of these Princeton homes was nominal. The ones that had significant increases had either superior location, such 21 Vernon Circle, NJ Princeton or had lowered the price to the level that attracted multiple buyers.

5. Multiple resales. Five Princeton houses sold over asking price were sold in the last 5 years. Three out of these five, were priced below the sale price in 2005 and 2006.

6. Of the Princeton houses sold over asking price only 2 lowered the price after the initial listing price. This is very important information for home sellers in NJ Princeton. If the home is priced right from the beginning it could attract multiple offers even in the weak market.

7. The situation was different for Montgomery Township homes for sale. During the period June -December 2008 there were 132 homes sold in Montgomery Township. Only 8 (6%) were sold over the asking price.

8. For Hopewell homes for sale there were 103 sold during this period, with four (5%) over the asking price.

Data is based on TREND MLS -1/8/2009 considered accurate, but is not guaranteed.

Want to know if your home could sell over asking price? Call 609-553-4175 for a confidential review. I cover NJ Princeton, Princeton Junction, Montgomery Township, Lawrenceville New Jersey, Hopewell.

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Montgomery Township Homes For Sale $750,000-$1,000,000

Faina Sechzer — Sun, 11 Jan 2009 17:00:04 +0000

Montgomery Township homes for sale are thought by buyers looking for highly rated Montgomery Township school district and for a large selection of homes in various price ranges and neighborhoods such as Skillman, Belle Mead, Blawenburg. Some properties in Montgomery Township have Princeton address, but the kids attend Montgomery Township schools. Here is a selection of homes available in the $750,000 – $1,000,000 price range.

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Princeton Homes For Sale Listings Less Than $500,000

Faina Sechzer — Sun, 11 Jan 2009 01:44:36 +0000

If you are buyer interested in Princeton real estate homes listed for less that $500,000 you could find them here.

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