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[quote="guest919"]Basically, real estate in Cranbury has held up better value than other towns in area - though overall it appears we are down about 9%. New Jersey overall is faring about the same as the national average. Cranbury is a desirable place to live due to ease of getting to train, bus, turnpike. Taxes are not as bad as other towns in vicinity. Schools are good. Plus we have a walkable downtown - and a sense of community. Lots of data was handed out.[/quote]
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<table border="0" cellpadding="3" cellspacing="1" width="100%" class="forumline"> <tr> <th class="thCornerL" width="22%" height="26">Author</th> <th class="thCornerR">Message</th> </tr> <tr> <td width="22%" align="left" valign="top" class="row1"><span class="name"><a name=""></a><b>guest919</b></span></td> <td class="row1" height="28" valign="top"><table width="100%" border="0" cellspacing="0" cellpadding="0"> <tr> <td width="100%"><img src="templates/subSilver/images/icon_minipost.gif" width="12" height="9" alt="Post" title="Post" border="0" /><span class="postdetails">Posted: Sat, Nov 19 2011, 1:38 pm EST<span class="gen"> </span> Post subject: Re: Cranbury Real Estate Values</span></td> </tr> <tr> <td colspan="2"><hr /></td> </tr> <tr> <td colspan="2"><span class="postbody">Basically, real estate in Cranbury has held up better value than other <br />towns in area - though overall it appears we are down about 9%. <br />New Jersey overall is faring about the same as the national average. <br />Cranbury is a desirable place to live due to ease of getting to train, bus, turnpike. Taxes are not as bad as other towns in vicinity. Schools are good. Plus we have a walkable downtown - and a sense of community. <br /> <br />Lots of data was handed out.</span></td> </tr> </table></td> </tr> <tr> <td colspan="2" height="1" class="spaceRow"><img src="templates/subSilver/images/spacer.gif" alt="" width="1" height="1" /></td> </tr> <tr> <td width="22%" align="left" valign="top" class="row2"><span class="name"><a name=""></a><b>?????</b></span></td> <td class="row2" height="28" valign="top"><table width="100%" border="0" cellspacing="0" cellpadding="0"> <tr> <td width="100%"><img src="templates/subSilver/images/icon_minipost.gif" width="12" height="9" alt="Post" title="Post" border="0" /><span class="postdetails">Posted: Thu, Nov 17 2011, 11:24 pm EST<span class="gen"> </span> Post subject: Re: Cranbury Real Estate Values</span></td> </tr> <tr> <td colspan="2"><hr /></td> </tr> <tr> <td colspan="2"><span class="postbody">Couldn't make this meeting. Any interesting info?</span></td> </tr> </table></td> </tr> <tr> <td colspan="2" height="1" class="spaceRow"><img src="templates/subSilver/images/spacer.gif" alt="" width="1" height="1" /></td> </tr> <tr> <td width="22%" align="left" valign="top" class="row1"><span class="name"><a name=""></a><b>Seed</b></span></td> <td class="row1" height="28" valign="top"><table width="100%" border="0" cellspacing="0" cellpadding="0"> <tr> <td width="100%"><img src="templates/subSilver/images/icon_minipost.gif" width="12" height="9" alt="Post" title="Post" border="0" /><span class="postdetails">Posted: Thu, Nov 17 2011, 6:26 am EST<span class="gen"> </span> Post subject: Re: Cranbury Real Estate Values</span></td> </tr> <tr> <td colspan="2"><hr /></td> </tr> <tr> <td colspan="2"><span class="postbody">It sounds like an interesting opportunity to hear some different and valuable perspectives on the local real estate market. Thanks for doing it and thanks for posting it here so people know about it.</span></td> </tr> </table></td> </tr> <tr> <td colspan="2" height="1" class="spaceRow"><img src="templates/subSilver/images/spacer.gif" alt="" width="1" height="1" /></td> </tr> <tr> <td width="22%" align="left" valign="top" class="row2"><span class="name"><a name=""></a><b>Values</b></span></td> <td class="row2" height="28" valign="top"><table width="100%" border="0" cellspacing="0" cellpadding="0"> <tr> <td width="100%"><img src="templates/subSilver/images/icon_minipost.gif" width="12" height="9" alt="Post" title="Post" border="0" /><span class="postdetails">Posted: Wed, Nov 16 2011, 10:47 pm EST<span class="gen"> </span> Post subject: Re: Cranbury Real Estate Values</span></td> </tr> <tr> <td colspan="2"><hr /></td> </tr> <tr> <td colspan="2"><span class="postbody">I look at this discussion as a view to how the tax structure will go. If properties continue to decline then a bigger burden will shift to residential. As a result the taxes will be adjusted. Everytime a warehouse appeals it is less revenue coming in. Everytime a home appeals it is less revenue coming in. So while my home value drops on the assessment it does not correlate to a tax deduction necessarily. That is what was missed in the discussion last year. <br /> <br />This year the town will face drastic cuts to services or face another tax increase. I am not sure the town is ready for less police, less leaf or chipping services, no fireworks, etc...but no one wants a rate increase even if it means their specific situation is that taxes stay the same or still go down. For example, I pay roughly the same after the tax increase this year as I dud after the 2006 assessment because I appealed and my property value dropped. <br /> <br />So to me this program will hopefully tell me what I can expect to see.</span></td> </tr> </table></td> </tr> <tr> <td colspan="2" height="1" class="spaceRow"><img src="templates/subSilver/images/spacer.gif" alt="" width="1" height="1" /></td> </tr> <tr> <td width="22%" align="left" valign="top" class="row1"><span class="name"><a name=""></a><b>guest771</b></span></td> <td class="row1" height="28" valign="top"><table width="100%" border="0" cellspacing="0" cellpadding="0"> <tr> <td width="100%"><img src="templates/subSilver/images/icon_minipost.gif" width="12" height="9" alt="Post" title="Post" border="0" /><span class="postdetails">Posted: Wed, Nov 16 2011, 7:17 pm EST<span class="gen"> </span> Post subject: Re: Cranbury Real Estate Values</span></td> </tr> <tr> <td colspan="2"><hr /></td> </tr> <tr> <td colspan="2"><span class="postbody">Our home is the single biggest investment that we have made. We definitely were thinking long term investment, so I am curious to hear what the panel has to say. Even if it is an educated guess... <br />Good program, Cranbury Public Library.</span></td> </tr> </table></td> </tr> <tr> <td colspan="2" height="1" class="spaceRow"><img src="templates/subSilver/images/spacer.gif" alt="" width="1" height="1" /></td> </tr> <tr> <td width="22%" align="left" valign="top" class="row2"><span class="name"><a name=""></a><b>cran res</b></span></td> <td class="row2" height="28" valign="top"><table width="100%" border="0" cellspacing="0" cellpadding="0"> <tr> <td width="100%"><img src="templates/subSilver/images/icon_minipost.gif" width="12" height="9" alt="Post" title="Post" border="0" /><span class="postdetails">Posted: Wed, Nov 16 2011, 2:48 pm EST<span class="gen"> </span> Post subject: Re: Cranbury Real Estate Values</span></td> </tr> <tr> <td colspan="2"><hr /></td> </tr> <tr> <td colspan="2"><span class="postbody"></span><table width="90%" cellspacing="1" cellpadding="3" border="0" align="center"><tr> <td><span class="genmed"><b>Guest 321 wrote:</b></span></td> </tr> <tr> <td class="quote">Cranbury is a town for a few who can afford the high assessments and high taxes. <br /> <br />What's in the future? When I get old, I will move away since it's too pricey to live here. By then my house will be worth the current assessed value.</td> </tr></table><span class="postbody"> <br /> <br />The high taxes are a NJ-wide issue. Cranbury is still relatively low relative to the state or county, not in adbsolute dollars but rate. Our absolute dollars are higher because our houses are worth more, on average. <br /> <br />The assessments until 2006 were historically well below actual value for a long time. In 2006 they reflected market at the time. Market has declined substantially since. And you can get your assessment down too if you pursue it. So I don't see high assessments as an inherent problem. <br /> <br />No one has an credible idea where the housing market will be in 5, 10 or 20 years, expert or not. The experts all disagree and they are all guessing because there are too many unknown variables. The conventional wisdom is that once prices finally stablize they will return to historic increases of small single digit increases per year. But they keep pushing back the estimate on when they will stablize on the one hand as they continue to dip more after short periods of flatness or slight increases. And on the other hand, an economist can never reliably predict a strong market surge like what happened to home prices for the decade prior to 2006, which doesn't mean it won't happen again but merely that they can't predict it.</span></td> </tr> </table></td> </tr> <tr> <td colspan="2" height="1" class="spaceRow"><img src="templates/subSilver/images/spacer.gif" alt="" width="1" height="1" /></td> </tr> <tr> <td width="22%" align="left" valign="top" class="row1"><span class="name"><a name=""></a><b>Guest 321</b></span></td> <td class="row1" height="28" valign="top"><table width="100%" border="0" cellspacing="0" cellpadding="0"> <tr> <td width="100%"><img src="templates/subSilver/images/icon_minipost.gif" width="12" height="9" alt="Post" title="Post" border="0" /><span class="postdetails">Posted: Wed, Nov 16 2011, 11:38 am EST<span class="gen"> </span> Post subject: Re: Cranbury Real Estate Values</span></td> </tr> <tr> <td colspan="2"><hr /></td> </tr> <tr> <td colspan="2"><span class="postbody">Cranbury is a town for a few who can afford the high assessments and high taxes. <br /> <br />What's in the future? When I get old, I will move away since it's too pricey to live here. By then my house will be worth the current assessed value.</span></td> </tr> </table></td> </tr> <tr> <td colspan="2" height="1" class="spaceRow"><img src="templates/subSilver/images/spacer.gif" alt="" width="1" height="1" /></td> </tr> <tr> <td width="22%" align="left" valign="top" class="row2"><span class="name"><a name=""></a><b>cran res</b></span></td> <td class="row2" height="28" valign="top"><table width="100%" border="0" cellspacing="0" cellpadding="0"> <tr> <td width="100%"><img src="templates/subSilver/images/icon_minipost.gif" width="12" height="9" alt="Post" title="Post" border="0" /><span class="postdetails">Posted: Wed, Nov 16 2011, 10:38 am EST<span class="gen"> </span> Post subject: Re: Cranbury Real Estate Values</span></td> </tr> <tr> <td colspan="2"><hr /></td> </tr> <tr> <td colspan="2"><span class="postbody">Seriously? <br /> <br />No disrespect intended for the listed panelists. But is this really a question?</span></td> </tr> </table></td> </tr> <tr> <td colspan="2" height="1" class="spaceRow"><img src="templates/subSilver/images/spacer.gif" alt="" width="1" height="1" /></td> </tr> <tr> <td width="22%" align="left" valign="top" class="row1"><span class="name"><a name=""></a><b>guest08512</b></span></td> <td class="row1" height="28" valign="top"><table width="100%" border="0" cellspacing="0" cellpadding="0"> <tr> <td width="100%"><img src="templates/subSilver/images/icon_minipost.gif" width="12" height="9" alt="Post" title="Post" border="0" /><span class="postdetails">Posted: Wed, Nov 16 2011, 6:43 am EST<span class="gen"> </span> Post subject: Cranbury Real Estate Values</span></td> </tr> <tr> <td colspan="2"><hr /></td> </tr> <tr> <td colspan="2"><span class="postbody">Bust or Recovery?<span style="font-weight: bold"> Cranbury Real Estate Today</span> <br /><span style="font-weight: bold">Thursday, November 17, 7:00pm – 8:30pm</span> <br /> <br />Where:<span style="text-decoration: underline">Cranbury Public Library</span> <br />Many Cranbury residents are uncertain about the real estate market and what's in store for the future. Come and hear our panel of experts discuss real estate issues in Cranbury. <br />Joining us are: <br /> <br />Steven Benner, Assessor, Cranbury Township <br />Susan Norman, Henderson Sotheby's International Real Estate <br />James Orr, Ph.D, an economist with more than 40 years experience specializing in regional economies. <br /> <br />This program is organized by the Friends of the Cranbury Public Library</span></td> </tr> </table></td> </tr> <tr> <td colspan="2" height="1" class="spaceRow"><img src="templates/subSilver/images/spacer.gif" alt="" width="1" height="1" /></td> </tr> </table>
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