Cranbury home $329,900 (Maplewood Ave.; reduced; gone?)

[Guest]

$359,900
2 bedroom, 1 bath
(Maplewood Ave.)

(info)

Charming 2 bedroom 1 bath home. Easy to maintain all Brick home with great location. Hardwood floors throughout all rooms. Full basement with washer and dryer andplenty of room for storage.Brand new roof.

* Single Family Property
* County: Middlesex County
* Subdivision: VILLAGE
* Year Built: 1941
* 2 total bedroom(s)
* 1 total bath(s)
* 1 total full bath(s)
* Style: Ranch style
* Living room
* Dining room
* Kitchen
* Basement
* Master bedroom is 11X11
* Living room is 13X13
* Dining room is 10X13
* Kitchen is 10X11
* Heating features: Hot water radiator heating
* Interior features: Clothes washer, Dryer, Refrigerator, Gas heating fuel, All underground utilities, Wall unit air conditioning, Gas water heater, Vinyl/Linoleum flooring, Wood finished floors, Full basement, Formal dining room, 2 bedrooms on first level, Dining room on first level, Kitchen on first level, Living room on first level, Main bathroom on first level, Attic on second level
* Exterior features: Public water supply, Public sewer system, 1 car wide driveway, Extra garbage
* Exterior construction: Brick
* Roofing: Asphalt/shingle roof
* Approximate lot is 60 X 164
* Tax: $3,563 (2006)

[tracker]

The new price is $339,000.

[tracker]

The new price is $329,900.

[guest23]

Still overpriced for this tiny "bunker" of a house

[Guest]

It was sold around July 2004 for $298,000.

http://cranbury.info/viewtopic.php?t=197

[guest23]

From an article today in CNNMoney.com:

With inventory at an all-time high, the 10-month supply of homes has not been topped since May 1989, according to Mike Larson, a real estate analyst with Weiss Research.

"The supply of homes goes up and up every month," said Larson, who blamed much of the rise on listings put up by investors trying to get out from under unprofitable homes they bought during the boom.

"Sellers are still not being realistic about selling prices. They have a false sense of the worth of their homes," he said. Owners who do not need to sell quickly are holding out for their asking prices.

That explains the contradictory trend of fairly stable prices but sharply lower sales numbers. The slight August rise in the national median price "is not reflective of what has to happen to clear the books of inventory," said Larson.

Motivated sellers, who need to sell quickly, have had a much harder time maintaining their asking prices. According to Jonas Lee, of Redbrick Partners, a private equity firm that invests in residential real estate, motivated sellers in most parts of the nation are having to discount asking prices by 15 percent or more to move their properties within 90 days.

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You can't buy at the top of the bubble and sell in a period like this and still expect to get more than what you paid for your house (paraphrasing a recent New York Times article).