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 Posted: Sun, Jun 3 2012, 10:04 am EDT Post subject: Cranbury home $859,900 (Woodview Dr.; reduced; gone) |
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$899,000
Beds:4
Baths:3.1
Lot Size:0.57 Acres
Year Built:1966
Subdivision: Wynnewood
Approximately 0.57 acre(s)
Age: 46 year(s) old
3 total full bath(s)
1 total half bath
10 total rooms
2 stories
Master Bedroom is 19X18
Living room is 22X13
Dining room is 19X14
Family room is 24X19
Kitchen is 38X12
Den is 12X12
2 fireplaces
3 car garage(s)
Attached parking
Forced air heat
Cooling features: Air Conditioner Central,Cooling
Inclusions: Dryer, Washer
Lot features: Abuts Conservation Area
Lot size is between 1/2 and 1 acre
School District: Cranbury
Swimming pool(s)
Basement
Dining room
Master Bedroom
Parking features: Built-In Garage, Loft Storage
Energy Info: Natural Gas
http://www.realtor.com/realestateandhomes-detail/4-Woodview-Dr_Cranbury_NJ_08512_M63791-98047?ex=NJ552410966 |
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LOL
Guest
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| Posted: Sun, Jun 3 2012, 1:01 pm EDT Post subject: Re: Cranbury home $899,000 (Woodview Dr.) |
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| Post after post today showing how low prices have gone and then this one asking hundreds-of-thousands over its value. LOL. |
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really
Guest
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| Posted: Sun, Jun 3 2012, 3:26 pm EDT Post subject: Re: Cranbury home $899,000 (Woodview Dr.) |
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| LOL wrote: | | Post after post today showing how low prices have gone and then this one asking hundreds-of-thousands over its value. LOL. |
With all due respect. How well do you know this house. IMHO it is the best house in that neighborhood. Best lot. Best laid out interior. "Hundreds of thousands over its value. That would mean the most you think it could be worth is 699? It may be overvalued but not 100s of thousands. Especially if you compare it to the one for sale above it situated on old Trenton Road. |
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LOL
Guest
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| Posted: Sun, Jun 3 2012, 3:40 pm EDT Post subject: Re: Cranbury home $899,000 (Woodview Dr.) |
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| really wrote: | | LOL wrote: | | Post after post today showing how low prices have gone and then this one asking hundreds-of-thousands over its value. LOL. |
With all due respect. How well do you know this house. IMHO it is the best house in that neighborhood. Best lot. Best laid out interior. "Hundreds of thousands over its value. That would mean the most you think it could be worth is 699? It may be overvalued but not 100s of thousands. Especially if you compare it to the one for sale above it situated on old Trenton Road. |
You can't compare it to the one on Old Trenton, which may well be asking too much too. That one is a 1 year-old custom built McMansion in a totally different neighborhood.
Your comments reflect the typical mistake some sellers make of believing the market will value the "specialness" of their particular home despite the overall market conditions in their neighborhood or comp homes. Wynnewood is a specific neighborhood with a specific value range. From a market value point-of-view you'd be better off not having the "best" home in that neighborhood because the best home will never be properly valued by buyers as it will be driven down by the neighborhood average. This isn't always true of neighborhoods where every home is custom but it's definitely true when all the homes are of a similar vintage.
"Hundreds of thousands" was a generalization. This home might get in the 700's. It will not, this year or anytime soon anyway, get in the 800's let alone 899. I would bet anyone willing to part with their money on that. |
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really
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| Posted: Sun, Jun 3 2012, 6:47 pm EDT Post subject: Re: Cranbury home $899,000 (Woodview Dr.) |
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With all due respect if there was a mistake it was your statement that this house was 100s of thousands overpriced. This house is comparable to the Old Trenton Road house and the Handley Ct. house and it is priced as such. Now they may all be overpriced, but if you are putting a house on the market you would want to price it with comparables.
If you want a better estimate on what the house is worth, there are two home in that neighborhood that have sold in the last two months. Find out what they sold for and add a premium because this house is a more desirable model on a better lot.
In the end if this house sells for 799 that would be 12% under the ask. I would think that would be a reasonable price and that would make an 899 ask reasonable. |
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LOL
Guest
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| Posted: Sun, Jun 3 2012, 8:14 pm EDT Post subject: Re: Cranbury home $899,000 (Woodview Dr.) |
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| really wrote: | With all due respect if there was a mistake it was your statement that this house was 100s of thousands overpriced. This house is comparable to the Old Trenton Road house and the Handley Ct. house and it is priced as such. Now they may all be overpriced, but if you are putting a house on the market you would want to price it with comparables.
If you want a better estimate on what the house is worth, there are two home in that neighborhood that have sold in the last two months. Find out what they sold for and add a premium because this house is a more desirable model on a better lot.
In the end if this house sells for 799 that would be 12% under the ask. I would think that would be a reasonable price and that would make an 899 ask reasonable. |
Excellent idea.
The most recent comps in the neighborhood are $607,500 for the house right across the street from this one, and $685,000 for a 5 bedroom, 3 bath home in the neighborhood.
You have to go back 2 years, during which time the market has substantially dropped in value, to find a sale in the neighborhood for $790,000, the highest sale in recent history. That home was 5 bedrooms, 3.5 bathrooms, 3,000 square foot house on a 37,000 sq. ft. lot that faced the Cranbury Preserve and extended to the waterline of the brook, versus this current home for sale which is 4 bedrooms on a 25,000 sq. ft. lot pressed up against the side of another house in its rear yard. And even that $790,000 house would be worth closer to $700,000 now based on further market decline in the last two years and sales comps.
So feel free to attach a "premium" to this house, but the neighborhood comps don't justify anywhere remotely near the premium you're suggesting. It is not supported by any actual market data. And, by the way, homes are comped based on actual sales data not other listing prices, putting aside the fact that anyone else would laugh at putting it in the same comp pool as a 1 year-old custom home in a totally different part of town. Every neighborhood has its own comp basis. Homes on Shady Brook sell for hundreds-of-thousands more than those on Cubberly or Applegate even though they are similar in size, construction style and grade and lot size, but are about 6 years apart in age. Homes in Cranbury Greene sell for more than Shadow Oaks even though they are similar in size and Shadow Oaks has larger lots typically.
A person has a right to list their house for whatever they want. Just don't expect people to agree that the listing has any basis in reality. |
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Sean
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| Posted: Wed, Jun 6 2012, 5:26 pm EDT Post subject: Re: Cranbury home $899,000 (Woodview Dr.) |
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| I saw this house. It is a great home with amazing features and location. It will sell at a price that the sellers are happy with I bet. Stop being such a hater and realize that it only requires 1 buyer. If that's not you, fine, but you're rude to make such comments on somebody's home as if the list price offends you or something. You should be required to post your name on the real estate section of the forum. |
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Sean
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| Posted: Wed, Jun 6 2012, 5:35 pm EDT Post subject: Re: Cranbury home $899,000 (Woodview Dr.) |
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| I saw this house. It is a unique home on a unique lot in a great neighborhood. It is strange to read folks disagreeing with the price. There are no absolutes in real estate. You can get everyone on this site to agree with you and then, when 1 person buys it at a price acceptable to the seller (which, I believe will happen) you are prooven wrong. Why be such a hater?? |
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LOL-43697on
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| Posted: Wed, Jun 6 2012, 6:39 pm EDT Post subject: Re: Cranbury home $899,000 (Woodview Dr.) |
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You could say of any house at any price that if it finds the just the right buyer it could sell. That's theoretically true of course, but that's like saying that we could have world peace of everyone could just agree to get along. Unless you are saying you personally will buy it at $899K, I wouldn't put much stock in your assessment that it is "unique" and this justifies over a 20% premium to the current market for the neighborhood. It's a great neighborhood, as you say, where homes have been selling in the 600's and low 700's recently, not 900. There are better lots in the neighborhood by the typical buyer's standard, both in terms of lot size, rear view, etc. And there are certainly less eclectic interiors. Not everyone appreciates the bold choice of bright blue cabinets. And pools add nothing to resale value because for every person that wants one there are others who specifically don't want one so it reduces the overall size of your buyer pool, neutralizing the average resale price benefit.
Again, this person has every right to list their home however they see fit. I've never suggested otherwise. I'm not a 'hater" just because I post an opinion and back it up with comps, figures and statistics as opposed to just "unique" and "best." Why would I care? Because the people who put their homes up at unrealistic prices hurt the market. They cause inventory to sit too long and over supply reduces asking prices for everyone. That's a known cause and effect. Just look at the poor home at 33 Main which is a steal now but started out too high, turned off buyers and now sits adding to the unsold inventory. In a buyer's market, like this one, seller's benefit when only "serious" sellers who price house realistically put inventory into the system. I’m not a seller but I sympathize with the market conditions they are in and why should people not being realistic about the market make it worse for them? |
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really-4368p94
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| Posted: Wed, Jun 6 2012, 7:45 pm EDT Post subject: Re: Cranbury home $899,000 (Woodview Dr.) |
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| LOL-43697on wrote: | You could say of any house at any price that if it finds the just the right buyer it could sell. That's theoretically true of course, but that's like saying that we could have world peace of everyone could just agree to get along. Unless you are saying you personally will buy it at $899K, I wouldn't put much stock in your assessment that it is "unique" and this justifies over a 20% premium to the current market for the neighborhood. It's a great neighborhood, as you say, where homes have been selling in the 600's and low 700's recently, not 900. There are better lots in the neighborhood by the typical buyer's standard, both in terms of lot size, rear view, etc. And there are certainly less eclectic interiors. Not everyone appreciates the bold choice of bright blue cabinets. And pools add nothing to resale value because for every person that wants one there are others who specifically don't want one so it reduces the overall size of your buyer pool, neutralizing the average resale price benefit.
Again, this person has every right to list their home however they see fit. I've never suggested otherwise. I'm not a 'hater" just because I post an opinion and back it up with comps, figures and statistics as opposed to just "unique" and "best." Why would I care? Because the people who put their homes up at unrealistic prices hurt the market. They cause inventory to sit too long and over supply reduces asking prices for everyone. That's a known cause and effect. Just look at the poor home at 33 Main which is a steal now but started out too high, turned off buyers and now sits adding to the unsold inventory. In a buyer's market, like this one, seller's benefit when only "serious" sellers who price house realistically put inventory into the system. I’m not a seller but I sympathize with the market conditions they are in and why should people not being realistic about the market make it worse for them? |
The problem I have is that, "the comps, figures and statistics" you site are meaningless. The Cranbury market is too thin for the numbers to have any meaning. If you want to site the comps figures and statistics in West Windsor it will work, not in Cranbury. But please babble on. |
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LOL-43697on
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| Posted: Wed, Jun 6 2012, 10:10 pm EDT Post subject: Re: Cranbury home $899,000 (Woodview Dr.) |
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| really-4368p94 wrote: | | LOL-43697on wrote: | You could say of any house at any price that if it finds the just the right buyer it could sell. That's theoretically true of course, but that's like saying that we could have world peace of everyone could just agree to get along. Unless you are saying you personally will buy it at $899K, I wouldn't put much stock in your assessment that it is "unique" and this justifies over a 20% premium to the current market for the neighborhood. It's a great neighborhood, as you say, where homes have been selling in the 600's and low 700's recently, not 900. There are better lots in the neighborhood by the typical buyer's standard, both in terms of lot size, rear view, etc. And there are certainly less eclectic interiors. Not everyone appreciates the bold choice of bright blue cabinets. And pools add nothing to resale value because for every person that wants one there are others who specifically don't want one so it reduces the overall size of your buyer pool, neutralizing the average resale price benefit.
Again, this person has every right to list their home however they see fit. I've never suggested otherwise. I'm not a 'hater" just because I post an opinion and back it up with comps, figures and statistics as opposed to just "unique" and "best." Why would I care? Because the people who put their homes up at unrealistic prices hurt the market. They cause inventory to sit too long and over supply reduces asking prices for everyone. That's a known cause and effect. Just look at the poor home at 33 Main which is a steal now but started out too high, turned off buyers and now sits adding to the unsold inventory. In a buyer's market, like this one, seller's benefit when only "serious" sellers who price house realistically put inventory into the system. I’m not a seller but I sympathize with the market conditions they are in and why should people not being realistic about the market make it worse for them? |
The problem I have is that, "the comps, figures and statistics" you site are meaningless. The Cranbury market is too thin for the numbers to have any meaning. If you want to site the comps figures and statistics in West Windsor it will work, not in Cranbury. But please babble on. |
Funny.
First the poster tries to compare totally different-sized, vintage and style homes in totally other parts of Cranbury as valid comps, then they try to site listing prices for homes as a basis for comps, then they suggest someone compare it to comps in the neighborhood without any stats and after the stats contradict them now it's that the market is too thin for comps to matter. Constantly looking for a new way to justify this, huh?
Believe what you want. The Wynnewood neighborhood is a specific market with valid comps and overall the decline from peek in the Cranbury market is well established. If you need to convince yourself that's not true, everyone has a right to be wrong. |
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anon-121p3o3
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| Posted: Wed, Jun 6 2012, 10:13 pm EDT Post subject: Re: Cranbury home $899,000 (Woodview Dr.) |
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| LOL-43697on wrote: | You could say of any house at any price that if it finds the just the right buyer it could sell. That's theoretically true of course, but that's like saying that we could have world peace of everyone could just agree to get along. Unless you are saying you personally will buy it at $899K, I wouldn't put much stock in your assessment that it is "unique" and this justifies over a 20% premium to the current market for the neighborhood. It's a great neighborhood, as you say, where homes have been selling in the 600's and low 700's recently, not 900. There are better lots in the neighborhood by the typical buyer's standard, both in terms of lot size, rear view, etc. And there are certainly less eclectic interiors. Not everyone appreciates the bold choice of bright blue cabinets. And pools add nothing to resale value because for every person that wants one there are others who specifically don't want one so it reduces the overall size of your buyer pool, neutralizing the average resale price benefit.
Again, this person has every right to list their home however they see fit. I've never suggested otherwise. I'm not a 'hater" just because I post an opinion and back it up with comps, figures and statistics as opposed to just "unique" and "best." Why would I care? Because the people who put their homes up at unrealistic prices hurt the market. They cause inventory to sit too long and over supply reduces asking prices for everyone. That's a known cause and effect. Just look at the poor home at 33 Main which is a steal now but started out too high, turned off buyers and now sits adding to the unsold inventory. In a buyer's market, like this one, seller's benefit when only "serious" sellers who price house realistically put inventory into the system. I’m not a seller but I sympathize with the market conditions they are in and why should people not being realistic about the market make it worse for them? |
Well if pigs could...Waite a minute...what? Nevermind, you keep LOLing to yourself, I think it's safe to say we can all just ignore you and chalk it up to anger. But you are offending someone's prize possession and possibly (If you weren't so blatantly a hater) impacting their sale. Please include your address and what you bought your house for in your next post. |
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anon-121p3o3
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| Posted: Wed, Jun 6 2012, 10:44 pm EDT Post subject: Re: Cranbury home $899,000 (Woodview Dr.) |
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| LOL- one last thing- please provide your analysis on all homes for sale in town. Oh Waite, I forgot, no one gives a damn. You're not buying this house, we get it. Fortunately for the sellers you are an insignificant percentage of potential buyers. Either that or you are a faceless analyst. I have no idea why I got involved in this post as I truly have no stake, I guess seeing a faceless and rude analysis bothered me. Luckily that losing combination is ultimately irrelevant. Find a better hobby and get a backbone to use to voice your tough analytical perspectives in the light of day. |
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anon-121p3o3
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| Posted: Wed, Jun 6 2012, 10:47 pm EDT Post subject: Re: Cranbury home $899,000 (Woodview Dr.) |
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| Btw- this is also Sean |
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really-4368p94
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| Posted: Thu, Jun 7 2012, 12:03 pm EDT Post subject: Re: Cranbury home $899,000 (Woodview Dr.) |
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| LOL-43697on wrote: | | really-4368p94 wrote: | | LOL-43697on wrote: | You could say of any house at any price that if it finds the just the right buyer it could sell. That's theoretically true of course, but that's like saying that we could have world peace of everyone could just agree to get along. Unless you are saying you personally will buy it at $899K, I wouldn't put much stock in your assessment that it is "unique" and this justifies over a 20% premium to the current market for the neighborhood. It's a great neighborhood, as you say, where homes have been selling in the 600's and low 700's recently, not 900. There are better lots in the neighborhood by the typical buyer's standard, both in terms of lot size, rear view, etc. And there are certainly less eclectic interiors. Not everyone appreciates the bold choice of bright blue cabinets. And pools add nothing to resale value because for every person that wants one there are others who specifically don't want one so it reduces the overall size of your buyer pool, neutralizing the average resale price benefit.
Again, this person has every right to list their home however they see fit. I've never suggested otherwise. I'm not a 'hater" just because I post an opinion and back it up with comps, figures and statistics as opposed to just "unique" and "best." Why would I care? Because the people who put their homes up at unrealistic prices hurt the market. They cause inventory to sit too long and over supply reduces asking prices for everyone. That's a known cause and effect. Just look at the poor home at 33 Main which is a steal now but started out too high, turned off buyers and now sits adding to the unsold inventory. In a buyer's market, like this one, seller's benefit when only "serious" sellers who price house realistically put inventory into the system. I’m not a seller but I sympathize with the market conditions they are in and why should people not being realistic about the market make it worse for them? |
The problem I have is that, "the comps, figures and statistics" you site are meaningless. The Cranbury market is too thin for the numbers to have any meaning. If you want to site the comps figures and statistics in West Windsor it will work, not in Cranbury. But please babble on. |
Funny.
First the poster tries to compare totally different-sized, vintage and style homes in totally other parts of Cranbury as valid comps, then they try to site listing prices for homes as a basis for comps, then they suggest someone compare it to comps in the neighborhood without any stats and after the stats contradict them now it's that the market is too thin for comps to matter. Constantly looking for a new way to justify this, huh?
Believe what you want. The Wynnewood neighborhood is a specific market with valid comps and overall the decline from peek in the Cranbury market is well established. If you need to convince yourself that's not true, everyone has a right to be wrong. |
fine let us play your game. If you want valid comps in Wynnewood, you must at least comp the same model. You have not.
An interesting question is why have you not. Because none of that particular model have been on the market in 3 years. Why??? See the previous comment on a thin markets. This would be a definition of a thin market. |
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cranburyb-8pop
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| Posted: Thu, Aug 2 2012, 10:38 pm EDT Post subject: Re: Cranbury home $899,000 (Woodview Dr.) |
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| Under contract |
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