November 9th-10th Open Houses…
Sorry we are experiencing system issues. Please try again.
Sorry we are experiencing system issues. Please try again.
Princeton Homes for Sale Year over Year View…
Did you know that the supply of available homes in Princeton is down nearly 40% from 2011? True! If you have every thought about selling your home in Princeton now may be the time! Contact us for details!
32 Hillside Road, Princeton NJ
Presented By Denise Varga, Bright and sunny 3 BR ranch offering easy access to downtown, schools, shopping and campus! Original
owners lovingly cared for this gem, with recent updates to HVAC, windows and roof. Wood floors, open
kitchen, wood burning fireplace, large rear deck, storage shed, plentiful off street parking and generous
auxiliary spaces – including a second kitchen – in the finished basement! Extraordinary offering – don’t
miss! Contact Denise Varga dvarga@weichert.com to schedule an appointment.
26 Braeburn Drive
Presented by Beatrice Bloom, Wonderful 4 bedroom, 2.5 bath colonial in sought after Littlebrook location. Quiet street with easy access to schools and town on sidewalks. Entry foyer with closet and powder room leading into front to back living room with many large windows, wood burning fireplace. Adjacent family room with built-ins, wet bar and access to the back yard and patio. Formal dining room with chair rail and picture window next to the kitchen. Screened porch overlooking lovely 0.79 acre back yard. Three spacious bedrooms share a hall bath and are complemented with master bedroom with two double closets and master bath with stall shower. Hardwood floors under wall to wall carpeting throughout the house. Many upgrades through the years including new hot water heater, new roof. Contact Beatrice Bloom (609) 577-2989 to schedule an appointment.
153 Jefferson Road, Princeton, NJ
Welcome home to a true classic center hall colonial located on Jefferson Road. Enter the front door and be met by the gracious foyer leading one to the either the dining room or living room. Off the living room is a sunroom which like the living room has a working fireplace with a gas insert. The cosy breakfast room with original built ins and kitchen finish off the main level. The master on the second floor has an attached sunroom as well as a dressing room outfitted with Californian closets. Three more bedrooms and two baths complete the second floor. Hardwood floors are in all the public rooms and bedrooms. House also has a walk up attic with a walk in cedar closet and full basement. Situated on a corner lot, the rear garden has two patios, great for entertaining and a one car garage to the rear of the property. Close to schools and downtown this house has it all! Contact Julie Harrison (609) 977-5343 to schedule an appointment.
Sorry we are experiencing system issues. Please try again.
656 Prospect Ave Princeton
Presented by Beatrice Bloom, Enjoy this charming and fully updated 4 bedroom, 2 1/2 bath colonial in desirable Riverside location opposite Carnegie Lake. An inviting foyer introduces the traditional floor plan with front to back formal living room with fireplace and a formal dining room. The cozy family room is carpeted and light filled. Access to the deck and yard is through the French doors in the living room or from the extended new and bright kitchen which includes a farmhouse sink, white cabinets, huge pantry, granite counters and new stainless steel appliances. The first floor also has a powder room. Upstairs, three bedrooms share a renovated hall bath while the master bedroom has two closets, a master bath with tub shower and with views of Carnegie Lake. The walk-up attic is a nice surprise providing office space with lots of customized shelves and additional storage. Throughout the property is an English garden which is ready to bloom. Hardwood floors, wood doors and moldings throughout the house are some of the special features, as well as the proximity to the lake, schools, town and transportation. Contact Beatrice Bloom (609) 577-2989 to make an appointment.
2013 March Princeton Closed Real Estate Transactions
Here is the list of homes that closed in Princeton Boro and Township in March 2013.
| Address | Subdivision | Beds | Bths | DOM | OP | SP |
|---|---|---|---|---|---|---|
| 175 Lambert Dr | Rosedale Estates | 4 | 2.1 | 398 | $890,000 | $675,000 |
| 69 Pretty Brook Rd | None Available | 5 | 5.1 | 184 | $1,195,000 | $1,149,700 |
| 105 Mountain Ave | None Available | 4 | 2.1 | 297 | $548,000 | $530,000 |
| 81 Harris Rd | None Available | 4 | 3 | 211 | $649,000 | $601,000 |
| 93 Mount Lucas Rd | None Available | 5 | 4.1 | 127 | $735,000 | $770,000 |
| 128 Herrontown Rd | Herrontown Woods | 5 | 2.1 | 134 | $675,000 | $650,000 |
| 255 Hamilton Ave | None Available | 4 | 3.1 | 115 | $998,000 | $950,000 |
| 115/119 Mountain Ave | None Available | 3 | 2 | 97 | $580,000 | $540,000 |
| 171 Westcott Rd | None Available | 5 | 3.1 | 103 | $849,000 | $800,000 |
| 161 Elm Rd | Western | 5 | 5 | 121 | $1,300,000 | $1,300,000 |
| 22 Pine St | None Available | 3 | 2.1 | 66 | $769,000 | $735,000 |
| 419 Franklin Ave | None Available | 4 | 3.1 | 85 | $1,095,000 | $1,050,000 |
| 48 Spruce St | None Available | 3 | 1 | 1 | $549,000 | $513,000 |
| 39 Random Rd | Carnassa Park | 6 | 5.2 | 24 | $1,695,000 | $1,600,000 |
| 218 Bullock Dr | Washington Oaks | 4 | 2.1 | 14 | $599,000 | $612,000 |
| 204 John St | None Available | 2 | 1 | 4 | $325,000 | $325,000 |
| 66 Patton Ave | None Available | 3 | 2 | 16 | $645,000 | $695,000 |
| 178 Stockton St | None Available | 4 | 2.1 | 1 | $999,000 | $982,500 |
The Sequester Effect and the Mortgage Sector
Tim McLaughlin, VP Weichert Financial Services
Much has been written about the automatic, across the board budget cuts contained in the Budget Control Act of 2011, otherwise known as “Sequestration,” but many critical questions remain regarding official interpretations of the legislation and how it will actually be implemented on an agency by agency basis. These include questions as to exactly which governmental spending accounts are or are not subject to sequestration, how deep the percentage reduction will be in the accounts that are subject to sequestration, how much latitude agencies have in selecting the specific expenditures that will be cut, and what the offsetting expenditures will be in implementing the proposed cuts.
Various estimates of the across the board cuts that would be required in programs subject to sequestration range between 8.5% and 10% for fiscal year 2013, with some going as high as 13.3%. But sequestration would impact different programs across the government in very different ways. With government grant programs such as Title I of the Elementary and Secondary Education Act, the impact can be estimated with some degree of precision. Others are not as easy to project. A great question is how will this impact the mortgage banking sector? Although mortgage bankers aren’t (yet) worried that the sequester will hammer applications, the Federal Housing Administration could be in for some adjustments. The Department of Housing and Urban Development and Ginnie Mae could be forced to furlough thousands of employees if sequestration spending cuts go into effect as scheduled on March 1.
HUD Secretary Shaun Donovan warned lawmakers recently that cuts in several agency programs, including the FHA single-family mortgage insurance program, would leave HUD short on staff and slow the delivery of services to numerous families, individuals and communities that rely on these programs.
Many of the 9,000 HUD employees in 81 field offices across the country would be subject to forced leave and other personnel actions, although sequestration plans are still under review, Donovan said. On the other hand, Ginnie Mae will also be hit by spending cuts, though not as significantly as HUD. An estimated $2 million would be cut from the agency’s Mortgage Backed Securities Loan Guarantee Program under the sequestration rules.
We will keep a watchful eye on this as the day progresses.
National Home Prices Heading Up….
The national median existing single-family home price showed the strongest year-over-year increase in seven years during the fourth quarter, according to the latest report by the National Association of Realtors (NAR). In addition, the median price rose in 133 out of 152 metropolitan statistical areas based on closings in the fourth quarter compared with the same quarter in 2011.
Lawrence Yun, NAR chief economist, said all the conditions for strong price growth are at play. “Home sales are on a sustained uptrend, mortgage interest rates are hovering near record lows and unsold inventory is at the lowest level in 12 years,” he said. “Home sales are being fueled by a pent-up demand and job creation, along with still favorable affordability conditions and rents rising at faster rates.”
Separately, NAR’s national annual Housing Affordability Index rose to a record high of 193.5 in 2012. An index of 100 is defined as the point where a median-income household has exactly enough income to qualify for the purchase of a median-priced existing single-family home, assuming a 20 percent downpayment and 25 percent of gross income devoted to mortgage principal and interest payments. For first-time buyers making small downpayments, the affordability levels are relatively lower.
“The housing affordability index shows that the national median income of families was almost double the income needed to buy a median-priced home in 2012, so most buyers are able to stay well within their means,” Yun said. “Even with rising home prices, conditions are expected to stay very favorable with the index averaging 161 in 2013, which would be the third best on record.”
There’s never been a better time to buy a home!
Financial Benefits to owning a home…
.
Owning a home invokes more than a sense of pride and freedom. It is also a long-term investment opportunity. With tax season here, it is a great time to speak to your tax advisor about the tax advantages associated with homeownership.
Some of the items you should plan to discuss include the following tax breaks commonly available to homeowners.
- Mortgage interest deduction: Interest you pay on a mortgage of up to $1 million – or $500,000 if you’re married filing separately – is deductible when you use the loan to buy, build or improve your home.
- Prepaid interest deduction: Points you paid when you took out your mortgage is 100 percent deductible in the year you paid them.
- Property tax deduction: You can deduct the real estate property taxes you pay each year, as well as any property taxes paid at the time you closed the purchase of your house.
- Mortgage insurance premium deduction: If you had to take out private mortgage insurance, the premium on that insurance can be deducted, as long as your income is less than $100,000 (or $50,000 for married filing separately).
Speak to your preferred tax professional for advice and more specifics about how these deductions and credits could lower your tax bill.
Looking to buy a home in Princeton? Take a look at these great Princeton properties:
Sorry we are experiencing system issues. Please try again.
