Cranbury home $849,900 (Shadow Oaks; reduced; sold)

[Guest]

$889,000
5 Bed, 2.2 Bath
(Washington Dr.)

* Single Family Property
* Area: Cranbury
* Year Built: 1984
* Age: 23 year(s) old
* 5 total bedroom(s)
* 4 total bath(s)
* 2 total full bath(s)
* 2 total half bath(s)
* 9 total rooms
...
http://beta.realtor.com/search/listingdetail.aspx?loc=08512&typ=1&sid=acc6e150831343e7a43ce789935d4c05&pg=3&lid=1092230714&lsn=21&srcnt=112

[Guest]

Wow, I'm curious to see the pics of this home and the address when it posts. It must back to the river and be spectactularly upgraded on the inside and outside to warrant this ask price. Given that houses with 5 bedrooms, large river/wood-backing lots and pools have sold in the last year on Washington for the low $700's, this must be the best house/lot on the street. Or the sellers haven't been following the comps and the market trend, but that's hard to imagine these days...

[john]

[Guest]

The asking price is high. I wonder what the town assessed value is...

[Guest]

[Guest]

It is 32 Washington Drive.

It came in at $838,500 in the re-assessment last year. So they are asking about $50K over the assessment.

It is 0.80 acres, does back to the creek (and the East Windsor development on the far side). It looks like it was purchased in 2001 for $579,9000.

[info]

I believe the houses in Shadow Oaks have lot size at least 40,000 square feet (an acre is 43,560 square feet).

[lot size]

[Guest]

This home has its own website!

http://www.32WashingtonDrive.com/

[tracker]

The new price is $849,900.

[Guest]

People sell houses in our area should watch "sell this house" on A&E or "designed to sell" on HGTV . It looks like a nice house until you look at the inside pictures. How do people think they are going to sell any house at any price when they show a front room that probably is a library or sitting room loaded with toys, or multiple pictures of the kitchen with laundry on the table. Clutter is a definite "NO NO" and leads to selling your house at a lower price than expected.

Not only that, tax value does not equate to selling value of a home. Just because other areas of the countries have seen a decline in value, our area has really not.

[Guest]

Not suprising. It has been clear from the initial ask price that the people selling this house are out of touch with the market conditions. They must fit into the classic seller who looks at the comps way below their ask but then rationalizes that their house is somehow special and everyone will agree and pay $100-150K more than the market in their neighborhood.

I predict this house, if it sells at all, will sell in the 700's, certainly not the 800's, so they still have a ways to go on the ask...

[Guest]

[quote="I wish this person who pretends to know so much about the real estate market would identify him or herself. Your making Cranbury look bad. [/quote]

[FYI]

The buyers need to use their own judgment to determine what they want to pay for. All the info provided here is just opinion. I am sure an intelligent buyer (a buyer who chooses to buy a home in Cranbury must be an intelligent buyer. ) will not be swayed by anonymous posts here. Again, the key is to use your own judgment (it's your money!).

[Guest]

All it takes to sell a house is a qualified buyer who likes the house. If a seller does not have an urgent need to sell, then he/she is likely to hold the price high. There is a balance of risk and reward that goes into the decision process.

I read in this week's BusinessWeek (p. 044) that Deutsche Bank sold a house in Woodbridge (VA) in December for $150K, less than half its last sale price of $315K (spring 2005). Why? Because the bank wanted to get rid of it to generate cash.

[Guest]

The house is Va was a foreclosure that is banked owned. You cannot compare a selling price on a banked owned home to a privately owned home. The bank tries to get fair market value, but if they have too many in their portfolio they will just try to recoup their loss and sell it at way below the market (enough to cover the defaulted mortgage).