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Guest
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 Posted: Thu, Mar 20 2008, 6:24 pm EDT Post subject: Cranbury home $1,595,000 (Shady Brook Ln.; gone?) |
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$1,595,000
4 Bed, 4.1 Bath
0.92 Acres
(Shady Brook Ln.)
* Single Family Property
* Area: Cranbury
* Year Built: 2003
* Age: 5 year(s) old
* 4 total bedroom(s)
* 5 total bath(s)
* 4 total full bath(s)
* 1 total half bath(s)
* 12 total rooms
...
http://www.realtor.com/realestate/cranbury-nj-08512-1097432333/ |
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Guest
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| Posted: Wed, Mar 26 2008, 7:28 am EDT Post subject: Re: Cranbury home $1,595,000 (Shady Brook Ln.) |
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| Last year the latest sale in this community is on 5/11/2007 for 28 Shady Brook, at $1,330,000 down from an initial asking price of 1,800,000, and that's when the subprime crisis isn't yet revealed. Now that the Case-Shiller is pointing to a nation-wide decline of 10.7% in January, this house is really worth about $1.15-$1.25 at best. |
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deal
Guest
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| Posted: Wed, Mar 26 2008, 9:02 am EDT Post subject: Re: Cranbury home $1,595,000 (Shady Brook Ln.) |
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| I think it's a good deal if one can buy it around $1.2. How one can come up with the down payment and the financing seems to be the tough part in this market. Selling one to buy another also may take time... |
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Guest
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dd
Guest
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| Posted: Thu, Mar 27 2008, 9:31 pm EDT Post subject: Re: Cranbury home $1,595,000 (Shady Brook Ln.) |
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That price was paid to the builder. I am sure there are improvements put into the house since then. The assessed value is $1,319K. |
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guests
Guest
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| Posted: Tue, Apr 1 2008, 10:17 am EDT Post subject: Re: Cranbury home $1,595,000 (Shady Brook Ln.) |
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| dd wrote: |
That price was paid to the builder. I am sure there are improvements put into the house since then. The assessed value is $1,319K. |
did anyone go to the open house last sunday, can it show that improvements are put into the house, so it worths $1.6m? |
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Guest
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| Posted: Tue, Apr 1 2008, 10:25 am EDT Post subject: Re: Cranbury home $1,595,000 (Shady Brook Ln.) |
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| dd wrote: |
That price was paid to the builder. I am sure there are improvements put into the house since then. The assessed value is $1,319K. |
The house was only built about 5 years ago. Most of the "improvements" other than the landscaping, window treatments, etc. would have been done when built and baked into the original cost. Even if they weren't, it doesn't automatically tranlate to more value for the house. The sale price does not factor in what a home owner paid for improvements, only what it does to affect the value of the physical property in relation to comps. So if you're in a neighborhood of 20 year old homes and you re-do the bathrooms and kicthen, that adds value, though not 100 percent of what you paid for it. But when you are in a neighborhood of new homes that all have comparable yards and all have newish granite countertops and hardwood, etc., re-doing the kitchen doesn't add any actual sale value at all. |
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gone?
Guest
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| Posted: Thu, Apr 17 2008, 10:22 am EDT Post subject: Re: Cranbury home $1,595,000 (Shady Brook Ln.) |
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| it is gone alreay? no longer showed in realtor.com |
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sold
Guest
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| Posted: Mon, Apr 21 2008, 10:19 am EDT Post subject: Re: Cranbury home $1,595,000 (Shady Brook Ln.; gone?) --pending |
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| Will close on 7/7. |
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Guest
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| Posted: Mon, Apr 21 2008, 10:26 am EDT Post subject: Re: Cranbury home $1,595,000 (Shady Brook Ln.; gone?) --pending |
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| sold wrote: | | Will close on 7/7. |
Wow! That was fast. Any idea of the price? I just want to get a feel of the market. It seems the rich folks are not affected much by the down turn. |
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Guest
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| Posted: Mon, Apr 21 2008, 10:47 am EDT Post subject: Re: Cranbury home $1,595,000 (Shady Brook Ln.; gone?) --pending |
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| sold wrote: | | Will close on 7/7. |
That is a really long close date -- probably about 90 days from signing. Why do long? |
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md
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| Posted: Mon, Apr 28 2008, 10:09 pm EDT Post subject: Re: Cranbury home $1,595,000 (Shady Brook Ln.) |
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| dd wrote: |
That price was paid to the builder. I am sure there are improvements put into the house since then. The assessed value is $1,319K. |
Compare this one with the one sold last year at $1.3. Last year's one is much better. So this asking price is a crime!  |
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Guest
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| Posted: Tue, Apr 29 2008, 9:28 am EDT Post subject: Re: Cranbury home $1,595,000 (Shady Brook Ln.) |
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| md wrote: | | dd wrote: |
That price was paid to the builder. I am sure there are improvements put into the house since then. The assessed value is $1,319K. |
Compare this one with the one sold last year at $1.3. Last year's one is much better. So this asking price is a crime! |
Well, I thought the asking price was too high too. but as long as it is under contract already, what can we say... |
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dd
Guest
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| Posted: Tue, Apr 29 2008, 5:06 pm EDT Post subject: Re: Cranbury home $1,595,000 (Shady Brook Ln.; gone?) |
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| According to today's market, it should worth $1.2M which is 10% less of last year's assessed value $1,319K. |
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Guest
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| Posted: Tue, Apr 29 2008, 6:30 pm EDT Post subject: Re: Cranbury home $1,595,000 (Shady Brook Ln.; gone?) |
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| dd wrote: | | According to today's market, it should worth $1.2M which is 10% less of last year's assessed value $1,319K. |
Yeah, but the "market" doesn't work like that. If the DJIA has a down day, some stocks still trade up. Homes are no different. Even of an overall market is down, different subsets will behave differently, down to the smallest subset of an individual home. So the national market could be down 10%, but Cranbury down 8%, while Cranbury $1-2M homes flat and this particular home with the right buyer and the right time up 10%...
I would agree as a general rule, most homes in Cranbury are worth less than their 2006 assessments. But that rule isn't absolute and you could drive yourself crazy trying to apply logic to when it applies. There have only been a few $1-2M sales recently in Cranbury, so there are too few to say it has to do with that price range. There are a few homes in this range that have sat and sat. It may be more fair to say that Liedke and Shady Brook appear to be in demand, but with only a few sales it is statistically not a big enough sample to conclude it is more than coincidence.
And keep in mind in ANY market throughout history, the best 10% will always be in demand. Even if the downist of down markets, those homes that are the most desirable based on location, amenties and condition will always be saw after by the limited buyers in the market. |
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Guest
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| Posted: Thu, May 8 2008, 5:48 pm EDT Post subject: Re: Cranbury home $1,595,000 (Shady Brook Ln.) |
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| Guest wrote: | | Last year the latest sale in this community is on 5/11/2007 for 28 Shady Brook, at $1,330,000 down from an initial asking price of 1,800,000, and that's when the subprime crisis isn't yet revealed. Now that the Case-Shiller is pointing to a nation-wide decline of 10.7% in January, this house is really worth about $1.15-$1.25 at best. |
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