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Guest
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 Posted: Thu, Feb 12 2009, 8:44 am EST Post subject: Cranbury home $850,000 (Cranbury Neck Rd.; reduced; gone?) |
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$850,000
4 Bed, 3.5 Bath
6 Acres
MLS #5703109
Enjoy the small town of Cranbury yet live on your six acre estate enjoying the privacy you desire. As you drive up you will recognize the quality in this fine home. Belgium block curbing on the circular driveway, 26' blue stone front porch and oversized solid wood custom design entry door. Country Kitchen beautifully appointed, step down rustic design Family Room with vaulted beamed ceiling and fireplace, 3/4 bedrooms, partially finished basement currently used as an office and music studio. Enjoy the vacation like atmosphere in the beautifully landscaped yard with 30' x 30' patio, wooden pergola over inground pool area. The home is located on one acre and five additional acres adjoing property. Create your own estate or use as a nursery landscape business. Possibilities are endless.
* Single Family Property
* Age: 39 year(s) old
* 3 total bedroom(s)
* 3.5 total bath(s)
* 3 total full bath(s)
* 1 total half bath(s)
* Single story
* Type: Detached
* Style: Rancher
* Master bedroom
* Living room
* Family room
* Kitchen
* Basement
* Laundry room
* Bathroom(s) on main floor
* Master bedroom is 13x11
* Living room is 22x18
* Family room is 22x15
* Kitchen is 23x10
* Basement is Full, Fully Finished
* Hardwood floors
* Fireplace(s)
* Fireplace features: Gas/Propane, Stone Fireplace
* Pool features: In Ground
* Swimming pool(s)
* 4 or more car garage
* Parking features: Driveway/Off Street, Detached
* Heating features: Gas
* Forced air heat
* Central air conditioning
* Inclusions: Dishwasher, Kitchen Cook Top, Kitchen Double Sink, Kitchen Island, Kitchen Pantry, Oven-Double
* Exterior construction: Stone, Wood
* Energy Info: Ceilng Fan(s)
* Roofing: Pitched Roof
* Approximately 6 acre(s)
* Utilities present: Well, On Site Septic
* School District: Cranbury Twp
Interior Features
Pull Down Stairs, Kitchen With NookBar, Tile/Brick, 9Ft+Ceiling, BayWindow, CableTVWired, Exposed Beams, Security System, Stall Shower, Water Treat System, Main Floor Laundry, Full Bath-Master Bedroom, Walk In Closet Master Bedroom, Great Room, Gas Cooking
Exterior Features
Fencing, Street Lights, Patio
http://www.realtor.com/realestateandhomes-detail/51-Cranbury-Neck-Rd_Cranbury_NJ_08512_1118476330 |
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Guest
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| Posted: Thu, Feb 12 2009, 11:02 am EST Post subject: Re: Cranbury home $949,900 (Cranbury Neck Rd.) |
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It amazes me when people still wildly overreach on their price expectation this far into the down market. Prices have been in decline for 2 years and everyone knows that the credit crunch has also seriously reduced the potential buyer pool. I haven't heard of any house recently selling over their 2006 assessment value and most sell notably below it. I don't credibly believe it is possible to have the financial capacity to own a home and be so out of touch with the economy, local and national, or the home market to not be aware of these conditions. A simple look at real sales prices on this site provides concrete data about the state of the Cranbury housing market.
Yet here is an owner who believes they can list a house at 47% OVER the 2006 market-high assessment value of $646,900 (and that includes both the 1 acre house site and 5 acre farmland site assessment). They purchased the house and lot less than 10 years ago for $388,000, so they are expecting a 250% return on their investment despite the significant erosion in values in the last 2 years.
I wish one of these days you could directly hear from one of these people and get a straight answer to 'what are you thinking?' I know most people believe their home is 'special' and there are reasons it deserves to do better than the market. And we've all heard the blah, blah, blah about how assessment value doesn't necessarily relate to market value. Give me a break. It would be very silly to claim that an assessment is off by almost 50%, and if it is then the Township should sue someone for lost revenue from under collection of taxes. |
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Jersey Dad
Joined: Tue, May 20 2008, 11:02 pm EDT
Posts: 179
Location: Cranbury Estates
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| Posted: Mon, Feb 16 2009, 3:25 pm EST Post subject: Re: Cranbury home $949,900 (Cranbury Neck Rd.) |
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| The Route 130 D Site, a 4 acre site, sold for more than $1 million and more than 50 percent above the 2006 assessed value. Perhaps these sellers are hoping the Township will buy it and turn it into affordable housing? |
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Guest
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| Posted: Mon, Feb 16 2009, 4:26 pm EST Post subject: Re: Cranbury home $949,900 (Cranbury Neck Rd.) |
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| All but one of the acres is zoned for farmland only and the remaining acre is zoned for one single family home. Besides (and I assume you were kidding anyway) if that is the logic the Township would be much better off going about 1/4 a mile further down Cranbury Neck and buying the 20+ acres that Realtor Rich owns off off of Applegate Court. It doesn't even have a house on it yet and he was listing it well below $1 million... |
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Guest
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| Posted: Mon, Feb 16 2009, 4:38 pm EST Post subject: Re: Cranbury home $949,900 (Cranbury Neck Rd.) |
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| Jersey Dad wrote: | | The Route 130 D Site, a 4 acre site, sold for more than $1 million and more than 50 percent above the 2006 assessed value. Perhaps these sellers are hoping the Township will buy it and turn it into affordable housing? |
I am sad that my tax $ funded the purchase. I am glad that we shot the PNC down. |
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Jersey Dad
Joined: Tue, May 20 2008, 11:02 pm EDT
Posts: 179
Location: Cranbury Estates
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| Posted: Mon, Feb 16 2009, 8:40 pm EST Post subject: Re: Cranbury home $949,900 (Cranbury Neck Rd.) |
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| Guest wrote: | | All but one of the acres is zoned for farmland only and the remaining acre is zoned for one single family home ... (...I assume you were kidding anyway). |
Although I am not making a recommendation, I am not making a joke, either. The Township strategy has been to build affordable housing "interspersed" with market-rate housing. If this strategy persists, and with the current requirement to build an additional 170 units, properties like this one will inevitably be considered. If the Township is willing to pay $1 million for 4 acres (zoned highway commercial), why not $950k for 6 acres (unless in a permanent farmland/open space preservation program)?
Some residents have argued that the township's COAH strategy, while effective in the past, has run its course and it is time to consider new directions. What's your opinion? |
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Guest
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| Posted: Mon, Feb 16 2009, 9:12 pm EST Post subject: Re: Cranbury home $949,900 (Cranbury Neck Rd.) |
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| If you're going to buy farmland there are better candidates than this house -- in which all the land is strait behind the property, and which is pricey compared to other options for land. Besides, the corridor along Cranbury Neck is some of the most beautiful. Even Plainsboro is preserving farland along this route. It would be a shame to mess it up when there are other options, particularly on the far side of 130 and also some along Dey, etc. |
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Guest
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| Posted: Fri, Jul 10 2009, 8:31 am EDT Post subject: Re: Cranbury home $899,900 (Cranbury Neck Rd.; reduced) |
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| new price: $899,900. |
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Guest
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| Posted: Thu, May 6 2010, 7:38 am EDT Post subject: Re: Cranbury home $850,000 (Cranbury Neck Rd.; reduced) |
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| new listing: $850,000. |
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Facts Please
Guest
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| Posted: Fri, May 7 2010, 3:08 pm EDT Post subject: Re: Cranbury home $850,000 (Cranbury Neck Rd.; reduced) |
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| This thread should be used for the purpose of information about this particular housel. Affordable housing issues should be discussed on another thread. You are doing a disservice to one of our residents and neighbors. |
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Facts Please
Guest
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| Posted: Fri, May 7 2010, 3:18 pm EDT Post subject: Re: Cranbury home $949,900 (Cranbury Neck Rd.) |
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| Guest wrote: | It amazes me when people still wildly overreach on their price expectation this far into the down market. Prices have been in decline for 2 years and everyone knows that the credit crunch has also seriously reduced the potential buyer pool. I haven’t heard of any house recently selling over their 2006 assessment value and most sell notably below it. I don’t credibly believe it is possible to have the financial capacity to own a home and be so out of touch with the economy, local and national, or the home market to not be aware of these conditions. A simple look at real sales prices on this site provides concrete data about the state of the Cranbury housing market.
Yet here is an owner who believes they can list a house at 47% OVER the 2006 market-high assessment value of $646,900 (and that includes both the 1 acre house site and 5 acre farmland site assessment). They purchased the house and lot less than 10 years ago for $388,000, so they are expecting a 250% return on their investment despite the significant erosion in values in the last 2 years.
I wish one of these days you could directly hear from one of these people and get a straight answer to “what are you thinking?” I know most people believe their home is “special” and there are reasons it deserves to do better than the market. And we’ve all heard the blah, blah, blah about how assessment value doesn’t necessarily relate to market value. Give me a break. It would be very silly to claim that an assessment is off by almost 50%, and if it is then the Township should sue someone for lost revenue from under collection of taxes. |
Umm . . . Are you a realestate agent or an Appraiser? You are missing some facts. Do you know how much money the owner has put into the house over the last 10 years? Did you know assessment value is not true realestate value? I know this is your opinion, but if you are a neighbor you are not helping the realestate values in our town by your uninformed comments. If you feel the house is not worth it, then don't buy it.
OR perhaps that is your true intention to try to get a bargain by bashing home values in Cranbury. |
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Guest
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| Posted: Fri, May 7 2010, 5:11 pm EDT Post subject: Re: Cranbury home $949,900 (Cranbury Neck Rd.) |
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| Facts Please wrote: | | Guest wrote: | It amazes me when people still wildly overreach on their price expectation this far into the down market. Prices have been in decline for 2 years and everyone knows that the credit crunch has also seriously reduced the potential buyer pool. I haven’t heard of any house recently selling over their 2006 assessment value and most sell notably below it. I don’t credibly believe it is possible to have the financial capacity to own a home and be so out of touch with the economy, local and national, or the home market to not be aware of these conditions. A simple look at real sales prices on this site provides concrete data about the state of the Cranbury housing market.
Yet here is an owner who believes they can list a house at 47% OVER the 2006 market-high assessment value of $646,900 (and that includes both the 1 acre house site and 5 acre farmland site assessment). They purchased the house and lot less than 10 years ago for $388,000, so they are expecting a 250% return on their investment despite the significant erosion in values in the last 2 years.
I wish one of these days you could directly hear from one of these people and get a straight answer to “what are you thinking?” I know most people believe their home is “special” and there are reasons it deserves to do better than the market. And we’ve all heard the blah, blah, blah about how assessment value doesn’t necessarily relate to market value. Give me a break. It would be very silly to claim that an assessment is off by almost 50%, and if it is then the Township should sue someone for lost revenue from under collection of taxes. |
Umm . . . Are you a realestate agent or an Appraiser? You are missing some facts. Do you know how much money the owner has put into the house over the last 10 years? Did you know assessment value is not true realestate value? I know this is your opinion, but if you are a neighbor you are not helping the realestate values in our town by your uninformed comments. If you feel the house is not worth it, then don't buy it.
OR perhaps that is your true intention to try to get a bargain by bashing home values in Cranbury. |
I'm not the previous poster who wrote this over a year ago but I will say if you think that how much money the owners put into a house is relevant to its resale value you are mistaken. Also, it appear that previous poster was write because here we are over a year later with the house now asking substantially less. |
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Guest
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| Posted: Fri, May 7 2010, 9:53 pm EDT Post subject: Re: Cranbury home $850,000 (Cranbury Neck Rd.; reduced) |
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| It's right not write but I agree. |
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