Princeton, NJ Real Estate News

By Christine O'Shea
(Christine E O'Shea Broker)
Princeton's Battle Monument is within a stones throw of our Nations office on Nassau Street in Princeton Boro.   It sits at the entrance to Boro Hall and is adjacent to Morven.   This beautiful stone monument commemorates the January 3, 1777 Battle of Princeton and depicts General George Washington leading his troops to victory and the death of General Hugh Mercer.   The monument was commissioned in 1908 and designed by sculptor,  Frederick MacMonnies of prominent Beaux Art, with the assistance of architect Thomas Hastings. In 1922 the monument was dedicated and President Warren G. Harding was present.  Nighttime illumination was planed; however, it was not until 2007, 85 years later, that the lighting work finally got underway with fundraising from the Princeton Parks Alliance.  In Se...
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By Denise Varga
(Weichert, Realtors)
I'm joining the conversation because I have a hankering to contribute. I have this hope that my perspective and my experiences in the world of real estate - particularly as a realtor - might be useful/helpful, to a buyer, a seller, a homeowner, a renter, or another real estate professional. I am also looking to have some fun here - to share with you the very human side of this industry. Hope to provide a laugh, or perhaps a lesson, at my expense, as they come. One aspect of my job that I especially enjoy is the variety of people and personalities I have the privilege and pleasure to interact with. Buyers, sellers, fellow agents, home inspectors, loan officers, attorneys, appraisers, contractors, municipal officials...the list goes on and on. I'm happy to tell you that 'by in large' , I ...
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By Faina Sechzer, Real Estate Expert - Princeton, Montgomery ,Hopewell, NJ
(Henderson-Sotheby's International Realty)
Luxury Princeton Homes for sale $1.5mlm-$2million   Discriminating buyers of luxury New Jersey  real estate, turn to Princeton as one of the towns with a wide array of choices of higher end  luxury homes as well as  the quality  of schools and convenient commute to  New York and Philadelphia. Read New Jersey real estate - Relocating And Living in Princeton Here is a look at what is available now in Princeton for $1,500,000 - $2,000,000 and a quick overview of the real estate market conditions in this price range. There is also a summary of the homes sold since the beginning of this year in this price range. Luxury Princeton Real Estate - On The Market Now (Active) There are 21 Princeton homes for sale on the market now, 5 of them in the Princeton Borough and the rest in the Princeton To...
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By Faina Sechzer, Real Estate Expert - Princeton, Montgomery ,Hopewell, NJ
(Henderson-Sotheby's International Realty)
The good news for New Jersey real estate home buyers and people relocating from out of state is that they could find Princeton homes for sale unders $500,000. One of the first decisions home buyers usually have to make is what town in New jersey they could afford to buy in. For many home buyers the commute and proximity to public transportation are very important as well. Many buyers are surprised, given the perception of Princeton real estate being exclusively higher end more expensive homes, that they can find Princeton homes for sale not just for under $500,000, but even for under $300,000. One Princeton neighborhood offering homes in this price range is Campbell Woods, located on a scenic Princeton Ridge. Read: Princeton NJ Real Estate| Campbell Woods Homes & Neighborhood Princeton ...
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How many times have you walked down Nassau Street and passed right by the white building with a sign on the front advertising the Historical Society of Princeton, wondering what was inside but decided to skip the visit?  Well, I went inside the Bainbridge House and discovered, to my delight, a wonderful exhibit on the history of Princeton.  There were many photos and much commentary on the creation of the Boro and local history. The museum and gift shop is open to the public Tuesday through Sunday, 12pm-4pm.  There is no admission fee.  The library is open to the public Tuesdays and Saturdays, 1pm-4pm. I encourage you to take advantage of the many free services that Historical Society of Princeton offers. On May 30th at 3pm there is a free museum tour led by a curator.  No reservations ...
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By Lisa Ryan, Selling Princeton,West Windsor and Montgomery Town
(Callaway Henderson Sotheby's International Realty)
If you are in the Princeton area and you are wondering where the WiFi hotspots are, here's a list of several places.  You never know when you may need to access the internet and find the best REALTOR in Princeton! Bookstores Barnes and Noble-Princeton 3535 Us Highway 1Princeton, NJ(609) 897-9250http://www.barnesandnoble.com/  Borders Books & Music 601 Nassau Park BlvdPrinceton, NJ(609) 514-0040http://www.borders.com/ Hotels Courtyard Princeton 3815 Us Highway 1Princeton, NJ(609) 716-9100http://www.marriott.com/default.mi Holiday Inn 4355 Us Highway 1Princeton, NJ(609) 452- http://www.ichotelsgroup.com/h/d/hi/1/en/hotel/prnnj;jsessionid=UIIU4UKPMBGHCCTGWANSHPQKM0YBGIY4?irs=y&_requestid=52137 Clarion Hotel Palmer Inn 3499 Us Highway 1Princeton, NJ(609) 452-2500 http://www.discoverourtown....
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By Lisa Ryan, Selling Princeton,West Windsor and Montgomery Town
(Callaway Henderson Sotheby's International Realty)
   One  of the many reasons the real estate market in Princeton, West Windsor and Montgomery is holdings its own in a down market, is the attraction of Princeton University.  Spend some time in Princeton and take a little time to enjoy one of the following tours. Princeton University, web.princeton.edu/sites/chapel/worship.htm 609-258-3603. Nassau Hall, built in 1756, was the site of an important Revolutionary War battle and the temporary home of the Continental Congress. Call to confirm, but the oldest university building is usually open weekdays and Sunday afternoons until 5 p.m., plus all day Saturdays. Guidebooks are available at Maclean House or the University Store. For the University Chapel (open daily to 11 p.m., Saturday to 8 p.m.) free pamphlets are available on site (www.prin...
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By Lisa Ryan, Selling Princeton,West Windsor and Montgomery Town
(Callaway Henderson Sotheby's International Realty)
Princeton (Boro)  NJ Real Estate Activity First quarter results of residential sales, as compared to 1Q 2007 As compared to  Data courtesy of Trend MLS.  Data is deemed reliable but not guaranteed.  Lisa Ryan, Your Princeton and Montgomery Real Estate Specialist Disclaimer: The opinions expressed by The Activerain Network and it's members and those providing comments are theirs alone, and do not reflect the opinions of Lisa Ryan and Prudential NJ Properties.  Lisa Ryan and Prudential NJ Properties are not responsible for the accuracy or content provided by The Community. ************************************************** Are you considering a move? It would be my pleasure to help you with your real estate needs. Serving Princeton Boro, Princeton Township, West Windsor, Montgomery Townsh...
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Palmer Square Management LLC has announced that they will be leasing four units at a discounted rate established by New Jersey Low and Moderate Income Housing Program.  Typically, a one-bedroom apartment in Palmer Square can be leased for $1,700-$2,000/month, depending on the lease term and situations. For those who qualify and receive one of these allocated apartments, the monthly rent is anticipated to be approximately $885/month.  Two of the three one-bedroom apartments have been leased, the third one-bedroom apartment is being reviewed by a potential tenant.  The remaining unit, a studio, is still available for rent at $834/month.
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It was announced last week that Princeton Township and Princeton Boro will have a one year extension on their property revaluation excercise.  Originally, the revaluation was expected to be completed by 2009.  The municipalities have elected not to approve the current bids for revaluation and allow for more time to ensure that properties receive proper attention in this matter.  The new timeline for completion is expected to run through 2010.
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By Lisa Ryan, Selling Princeton,West Windsor and Montgomery Town
(Callaway Henderson Sotheby's International Realty)
If you live or work in Princeton and it's the last Saturday in April then you know it's Communiversity Day!!Spring is here, and with it comes Communiversity 2008. This year's event is scheduled for Saturday, April 26, from noon to 4:00 p.m. Presented by The Arts Council of Princeton and the students of Princeton University, Communiversity has become an annual area tradition, attracting more than 10,000 people to the heart of Princeton, N.J. each year. The event features visual and live arts, children's activities, musicians, dancers, crafters, a wide array of foods, and broad representation of the many businesses and organizations that play a prominent role in the vibrant life of the Princeton community.     Schedule of Events The Town and Gown Stage: Sponsored byTyco Int'lNoon Kick-Off...
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By Jeff Belonger, The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans
( Social Media - Infinity Home Mortgage Company, Inc)
  FHA credit revised........Piecing together your credit can sometimes be confusing. That's why you should always seek a qualified loan officer that is a FHA Expert. In all honesty, credit is not as difficult as it may seem and FHA has made it easier for you to qualify for your dream home. There are just some important facts that the average consumer needs to know.   Several key facts : You don't need credit scores. No minimum credit scores. You need to pay attention to this part, because many lenders will advertise this. But they fail to tell you initially that every investor out there have credit score requirements though. HUD writes the guidelines, but in this case, the investors can make up their own also. Many lenders can't even go below a credit score of 580.  We at Infinity Home...
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By Jeff Belonger, The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans
( Social Media - Infinity Home Mortgage Company, Inc)
As we head into Spring, and a real estate market that is starting to take shape, we need to forge ahead and educate all around else. We need people to better understand the whole buying process, with details and not just assumptions. I want to put a challenge out there before I share with you the mortgage blogs for the week. I truly think that we need to step up some of the quality of these mortgage posts. Not only chock full of mortgage information, but making them interesting and creative. I took a stab at it for a specific contest several weeks ago and I would love to see more like this. Here is the actual post to the video above, to explain more : FHA mortgages - mortgages in general - What a consumer should know first.... Now, I could have done a much better video if I had time an...
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By Lisa Ryan, Selling Princeton,West Windsor and Montgomery Town
(Callaway Henderson Sotheby's International Realty)
 My husband and I just got back from a wonderful dinner tonight at Sotto Restaurant, right in the heart of Princeton NJ.Sotto is located on the corner of Nassau Street and Tulane.  Just step through the door and walk down a steep flight of stair and you will immediately feel like you are in a small intimate restaurant in Tuscany.I had the polenta cakes with broccoli rabe and Italian sausage for an appetizer.  Bob had the pasta fagioli soup to start with and ordered the Pasta Rustica for an entree.  I devoured the veal saltimboca for my entree.  Our waiter Dimitri was wonderfully attentive.  We enjoyed the live music which you can listen to here.  We finished a lovely bottle of shiraz and wandered upstairs and out into the streets of Princeton.  We walked a bit through Princeton Universi...
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By Jeff Belonger, The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans
( Social Media - Infinity Home Mortgage Company, Inc)
   In the ever changing world of mortgages, it's been tougher in recent months, especially if you have to rely on another company to help you close a loan. Which sets that tone for a debate between brokers and bankers. Let's start off by defining each of the two and give you examples on how both sides operate. Mortgage Broker : This is a company that has 15 to 40 lenders that they broker the consumers mortgage to. Now, you will see some brokers advertise that they have 100's of lenders to choose from. (this is just good advertisement to make you feel like you are getting a better deal) And think of this, consider that we all get the money from the same place, there is really no need to have more than 6 or so lenders. Positives : Maybe for the fact that they have many to choose from. Not...
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By Faina Sechzer, Real Estate Expert - Princeton, Montgomery ,Hopewell, NJ
(Henderson-Sotheby's International Realty)
The good news for the Princeton real estate buyers is that there is a lot of choice and the prices for some properties have come  down significantly. I have been showing a lot of houses in the last several weeks. This is the an excuse reason for having not written as much for the Princeton Real Estate blog as I usually do.Here is a quick look at my observations this week.  For my international buyers we were looking at some spectacular Princeton homes for sale in the price range of over $3.5mln. Some of the houses we saw have been on the market for much longer than 3 months, but some have just come up and have had many buyers looking at them.  Princeton houses for sale in unique locations, for example  with a view of lake Carnegie are in demand and I get a lot of inquiries about them. U...
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By Desiree Daniels
(RE/MAX Tri County)
Monthly Statistics for the Date Range SelectedDateUnits ListedListed VolumeListed AveragePendedUnits SoldSold VolumeSold AverageAverage DOMApr 200853,782,400756,480111,200,0001,200,00036Mar 20083842,193,5881,110,357221513,125,485875,032202Feb 20085267,680,7001,301,551151317,357,5001,335,192108Jan 20084659,505,0901,293,588151217,318,0001,443,166102         Totals:141173,161,7781,228,097534149,000,9851,195,145139                  Inventory Accumulation for the Last 12 Full Months          Current Inventory *Inventory VolumeCurrent AverageAverage Monthly Sales**Inventory Accumulation ***167236,121,1431,413,899246*Current Inventory is based on the actual available properties on the date this report was created.**Average Monthly Sales is the average sales for the last 12 full months***Invent...
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By Josh Wilton
(Weichert)
At the Weichert Princeton office Market Seminars we had 89 people, both buyers and sellers to learn about local market conditions. It was an amazing turnout. The Saturday session was in the middle of a monsoon and it was still a packed house. It was really incredible.We have scheduled two more sessions in April. Thursday the 3rd at 7pm and Saturday the 5th at 11am.  If you want to check them out RSVP Early as the last two were standing room only. The Multiple Bid issue continues on. Nearly 40% of the transactions we have posted in the office have involved more than one buyer. An incredible number.  The consumer continues to show interest in Real Estate. If you are still a doubter stop bye the office in April. See you there.
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By Faina Sechzer, Real Estate Expert - Princeton, Montgomery ,Hopewell, NJ
(Henderson-Sotheby's International Realty)
This is a real estate market report feature of the Princeton Real Estate Blog I started this year, because people, even those who are not planning to buy or sell their homes, ask me about it so often.  This interest is understandable.  There is a deep concern about what the state of the housing market means to all of us. Of course, some people are simply curios about what their neighbors sold their house for, which could give them the idea of the value of their home.    In this country the condition of the real estate market has an affect on many, if not most people, be it in the value of our own homes, real estate investments we have, rents we pay, or  broader implications for the economy, jobs, etc. The news as reported by the media is confusing and often contradictory, and the clarit...
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By Josh Wilton
(Weichert)
While the economic news continues its downward sprial, locally in Princeton and the core towns surreounding  Real Estate continues to defy the odds (at least the odds of those who predict doom and therefore want doom to be proven right).  As of February 13th, nearly 40% of the the Weichert Princeton offices transactions booked YTD had multple bids! This number was suprisingly high even to me. Another 9 of my Associates reported losing deals to multiple bids. YTD the Princeton Office's Open House traffic (# of people visiting) is up over 40% over 2007 (same time frame) indicating a large pent up but very cautious demand for housing. Inventory in the core towns in Mercer County is actually down. (contact one of my agents for details, weichert.com/princeton) Although rates trickled up this...
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