July 22, 2010
First Half of 2010 Report - Year Over Year

With the first half of the year behind us, let's look at how the real estate market is faring in Cranbury, New Jersey. There have been 31 homes sold in the past 12 months for an average sale price of $586,136. The average asking price was $654,823 and the homes spent an average of 124 days on the market.

The previous twelve months (July 2008 to June 2009) saw a per-house average sale price of $658,781 for the 31 homes that sold. The average asking price was $744,840 and it took on the average 124 days for them to sell.

Just a quick glance will tell you that the number of homes sold and the time on the market remained the same from year to year, but that the average sold price dropped 11%. While this may be statistically true, it may also relate to the type of homes being sold.

Information from the TReND MLS is deemed reliable but is not guaranteed.

Posted by: Bruce

Cranbury NJ Homes for Sale

Cranbury, NJ is a great community to investigate when searching homes for sale. You will feel transported back to the colonial times when you experience the downtown area with its many historic buildings.

Welcome to CranburyEntering this seemingly colonial era village, you are greet by this sign along South Main Street.

You will find many different styles, ages, and price ranges of properties are available in Cranbury, New Jersey, located near Exit 8A of the New Jersey Turnpike in central New Jersey. The township is served by the US Postal Service as Cranbury, NJ, with the zipcode of 08512. If you are looking for to relocate here, we hope to serve as your starting point for information on the various neighborhoods of Cranbury.

 

Properties for Sale

Properties for sale as of July 2, 2010 include 26 single family homes [Price Range: $165,000 to $3,900,000], located in developments and in rural settings. The ongoing construction of new homes in several developments, including the Estates at Princeton Junction and Centex's Elements at West Windsor (active adult), for which we now have pricing and floor plans, also affords you the option of purchasing a new home in nearby West Windsor.

Neighborhoods of Cranbury

An overview of the neighborhoods in Cranbury and the variety of homes for sale are outlined at the neighborhoods button to the left. Feel free to check out the properties for sale and contact us for further information using the form at the bottom of the neighborhood's page.

By using the buttons to the right side of the page, you can contact us for information on the value of your home, for help in finding a specific type of property, or have the ability to search on your own.

It is currently July 30th 2010, 01:51 am in New Jersey.

June 16, 2010
Why Should I Buy a Home After the Tax Credits Have Expired?

People are asking: "Why would we purchase a home after the tax credit expired?"

The answer is simple. Interest rates have fallen dramatically since April 30th. The following example illustrates how interest rates can dramatically increase your buying power. Think about it in terms of a $500,000 loan. The average interest rate in April was 5.34 percent, meaning that the principal and interest every month on a 30-year fixed loan would be $2788.96 and cost $1,004,024 over the life of the loan. The average interest rate is currently around 4.83 percent, meaning that the average principal and interest payment on the same loan would be $2632.40 per month and cost $947,664 over the life of the loan.

By purchasing the same home right now versus in April, you would save $156 per month and over $56,000 over the life over the loan. Since the homebuyer tax credits ranged from $6,500-$8,000, it is obvious that a lower interest rate will save you much more money in the long-run.

Since there was a mad dash in April to purchase a home by the April 30th deadline, there is less competition out there right now, meaning that you have more homes to choose from and you have more negotiating power.

Posted by: Bruce

June 10, 2010
Are You Thinking of A Real Estate Career?

Perhaps you are wondering: How you get a license? How do you join a company? What does it cost? and How do you make money?

For insights into the answers, visit Careers In Central New Jersey Real Estate. You will find information on Schooling, Licensing, and Careers Choices.

Posted by: Bruce