Princeton Real Estate
Looking for a nice rental in Princeton? Look no further. This Griggs Farm townhouse is available for rent for $1900 per month. This two bedroom has a pergo first floor, recessed lights and berber carpet upstairs.
Click here for more photos of this property, maps and more!
Looking for a rental in Princeton, click here and start your search for every Rental Home in Princeton.
Tim McLaughlin, VP Weichert Financial Services
Mortgage applications increased 23.1% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending Jan. 13.
The data includes an adjustment for New Year’s Day. The MBA market composite index increased 23.1% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the index increased 38.1% compared with the previous week.
====================
Fewer Americans than forecast filed first time applications for unemployment benefits last week, easing concern that post-holiday firings were on the rise.
Claims plunged by 50,000 to 352,000 in the week ended Jan.14, the lowest level since April 2008, Labor Department figures showed today in Washington. The median forecast of 41 economists in a Bloomberg News survey projected 384,000. The four-week average, which smoothes out fluctuations, decreased to 379,000 last week from 382,500.
Companies are slowing the pace of firings and beginning to step up the pace of hiring even as a slump in Europe spurred by a default crisis may limit U.S. growth. The improvement may be a sign that companies are looking to expand their workforces as sales climb.
Oil demand is falling for the first time since the 2008-2009 global financial crisis as a result of a mild winter, high crude prices and the European economic crisis, according to fresh estimates from the International Energy Agency. The industrialized nations’ watchdog said oil demand dropped by 300,000 barrels a day in the final quarter of 2011. Such a fall is rare: over the last decade, oil demand has posted drops only in the financial crisis of mid-2008 to mid-2009. The end game on the supply/demand curve is as demand falls, so, too, should prices
Here is the list of homes that closed in Princeton Boro and Township in October 2011. It is organized low to high Boro than Township.
T0 search for Princeton homes for sale click here.
To search Princeton townhouse for sale click here.
| Street | Boro/ Township | Subdivision | Original Price | Sold Price | Days on Market | Beds | Baths | Half Baths |
| 232 Witherspoon St | Princeton Boro | na | 210,000 | 180,000 | 49 | 3 | 1 | 0 |
| 33 Robert Rd. | Princeton Boro | Riverside | 6250,000 | 620,000 | 3 | 3 | 2 | 1 |
| 108-110 Linden | Princeton Boro | na | 749,000 | 750,000 | 23 | 3 | 2 | 0 |
| 55 Princeton Ave. | Princeton Boro | na | 1,115,000 | 1,126,000 | 97 | 4 | 2 | 1 |
| 622 Kingston Rd. | Princeton Twp | Littlebrook | 419,000 | 275,000 | 126 | 4 | 1 | 1 |
| 624 Brickhouse | Princeton Twp | Washington Oaks | 339,000 | 310,000 | 74 | 2 | 2 | 0 |
| 40 Benjamen Rush | Princeton Twp | Washington Oaks | 478,500 | 400,000 | 104 | 3 | 2 | 1 |
| 828 Kingston Rd | Princeton Twp | Littlebrook | 575,000 | 505,000 | 104 | 3 | 2 | 1 |
| 10 Quaker Rd | Princeton Twp | na | 585,000 | 512,500 | 67 | 3 | 2 | 0 |
| 178 Herrontown Rd | Princeton Twp | Littlebrook | 666,750 | 594,370 | 132 | 4 | 3 | 0 |
| 33 Trewbridge | Princeton Twp | Fieldwood Manors | 625,000 | 605,000 | 10 | 3 | 3 | 1 |
| 80 Dodds Lane | Princeton Twp | Littlebrook | 1,799,990 | 1,500,000 | 459 | 4 | 4 | 1 |
Tim McLaughlin, VP Weichert Financial Services
It seems like each week, the markets have a new focus on a different country that drives volatility; this week the focus is on Italy. Take a look at the week that was: Global Equity markets all rose (and Fixed Income rates sold off) Tuesday when Silvio Berlusconi agreed to resign as Italy’s Prime Minister. That’s because a lot of people think Berlusconi is the reason Italy is teetering on the edge of financial disaster. Wednesday, Equity markets were down because those same people realized that they were wrong. Thursday, another rally as maybe they were right.
The idea was that without Berlusconi, the Italian government will get its fiscal house in order and be able to pay back all the money it has borrowed. Italy depends on borrowed money to service its debt, which is significant, but not huge like that of either Greece or the US. In fact, the nation’s fiscal deficits have actually been lower than what they were projected to be.
So with that said why is the US concerned with Italy? As the International Monetary Fund reports, the problem is a “mounting concern among investors about the two way relationship between sovereign and financial risks, and about prospects for policymakers to craft a convincing and durable crisis resolution framework in the euro area. Without significant progress, there is a risk that market worries could become self-fulfilling, with consequences that could prove difficult to contain”.
In simpler terms, the fear is that the government can’t deal with the deficit. More than anything else, that worry is driving up the cost of borrowing money to service the debt. Despite the news about Berlusconi, on midday Wednesday, Italy’s 10 year bonds were at 7.68% and 2 year notes were yielding 7.10%. The magic number here is 7%. When bond yields for Greece, Portugal and Ireland hit 7%, they all had to call on the European Central Bank and the IMF to bail them out.
But unlike the other three nations, Italy has a huge economy. It is Europe’s third largest, trailing only Germany and France. This has enabled it to borrow a lot of money from other people. As of March non-Italians held $1.1 trillion in Italian bonds. This is more than the combined total of foreign-held bonds for Ireland, Portugal, and Greece. So even with the help of the ECB and the IMF, they probably aren’t going to be able to save Italy by themselves.
So why is this concerning to the US? US banks increased sales of insurance against credit losses to holders of Greek, Portuguese, Irish, Spanish and Italian debt in the first half of 2011, boosting the risk of payouts in the event of defaults. According to the Bank for International Settlement, guarantees provided by US lenders on government, bank and corporate debt to those countries rose by $80.7 billion to $518 billion. Almost all of that was CDS. If Italy defaults, or even just looks like it is in danger of defaulting, institutions are going to want to make sure that the loan guarantors can pay off. The fear is what if the US banks can’t?
Tim McLaughlin, VP Weichert Financial Services
Rates are near historical lows. Housing prices haven’t been this affordable in years, So what are the top reasons supporting the fact that it is a great time to buy that home you have had your eye on (according to the WSJ)?
1. You can get a great deal = buyer’s market. Many of the summer 2011 buyers have purchased or are waiting for spring 2012. An excellent time to beat them to the punch and grab that house of your dreams..
2. Mortgages are cheap. You can get a 30 year loan in the high 3%/low 4% range. What’s not to like? These are the lowest rates on record. As recently as three years ago they were about 6.25%. That drop slashes your monthly repayment by a fifth. When the economy and employment do recover, it is a fair bet that you won’t see these mortgage rates again in your lifetime.
3. You’ll save on taxes. You can deduct the mortgage interest from your income taxes. You can deduct your real estate taxes. And you’ll get a tax break on capital gains down the line when you sell.
4. It’ll be yours. You can have the kitchen and bathrooms you want. You can move the walls, build an extension, or paint everything bright orange if you so desire.
5. You’ll get a better place to live. In many parts of the country right now, it can be really hard to find a good rental given the glut of renter in the marketplace.
6. It offers some inflation protection. No, it’s not perfect. But studies by Professor Karl “Chip” Case (of Case-Shiller), and others, suggest that over the long term housing has tended to beat inflation by a couple of percentage points a year. That’s valuable inflation insurance, especially if you’re young and raising a family and thinking about the next 30 or 40 years.
7. It is forced savings. If you can rent an apartment for say $2,000 month instead of buying one for say $2,400 a month, renting may make sense. But will you save that $400 for your future? A lot of people won’t. Most, I dare say. Thus where is the true value and the savings?
8. Weichert will help make the transaction seamless…ask us how! Call us at the office today to make an appointment to learn the buying process! 609-921-1900
The upcoming evening real estate licensing class in Princeton starts tomorrow night!
If you are interested in getting your real estate license this is a great chance to do so.
Course Dates: 10/11 – 12/22/2011
Time: 6:30 – 10:15, Tues and Thurs evenings
Cost: Only $99 (vs the regular price of $350!)
Interested in enrolling? Click here to email direct or call the office and ask for Josh Wilton. 609-921-1900.
Tim McLaughlin, VP Weichert Financial Services
The 30 year Fixed Rate mortgage, continuing to test new lows, dropped below 4% last week for the first time in modern history to 3.99% with .68 points during the week ending Oct. 6, according to Freddie Mac’s weekly survey. A spokesman confirmed that the 30 year’s average of 4.01% with .66 points last week was previously the lowest the weekly rate has been. Freddie has been following rates since its startup in 1970.
While the week to week drop below 4% is only a matter of two basis points, it marks a benchmark level that could have more of a psychological impact on borrowers who qualify for new loans and have a rate high enough to benefit enough from a refinance.
A year ago at this time, the average weekly 30 year rate was 4.27% and the average 15 year rate was 3.72%.
Pew Research Center out of Washington conducted a survey of over 2,100 adults, of which 57% were current homeowners, 30% were renters, and 13% were prospective buyers, with some interesting results:
Fact & Fiction Regarding Your Credit Score…Did you know?
Fiction: Credit scores can change only once per month or every 30 days.
Fact: On the contrary; each creditor reports information to each credit bureau at different times of the month. This will cause the information and potentially the credit scores to change on a daily basis. For example, American Express may report to Experian on the 1st of the month, Equifax on the 15th and Transunion on the 25th. Thorough review of the credit report is needed to determine what caused the score to change from report to report
Secondary Market Takeaways:
On the heels of potential solutions for the European financial crisis and surprisingly positive employment data this morning (Nonfarm payrolls up 103K vs. projected up 60K, and last month revised to up 57K from an initially reported number of 0K), we have seen mortgage rates slowly increase this week from the historically low levels reported last week in the upper right hand column. If the positive economic and employment news is sustainable, we could continue to see rates increase in October vs. where interest rates are now pegged.
Princeton Boro Sold Homes, September 2011
| Street Address | Town | List Price | Sold Price | Days on Market | Subdivision | Taxes | Beds/ Baths/ 1/2 Baths |
| 232 Witherspoon St. | Princeton Boro | 210000 | 210000 | 49 | None Avail | 7425 | 3/1/0 |
| 9 Palmer Square | Princeton Boro | 249000 | 220000 | 21 | Palmer Square | 4060 | 0/1/0 |
| 2 Park Place | Princeton Boro | 449000 | 250000 | 143 | None Avail | 8724 | 3/2/0 |
| 12 Green St. | Princeton Boro | 300000 | 325000 | 14 | None Avail | 7158 | 3/2/0 |
| 64 Pine St. | Princeton Boro | 499000 | 484000 | 444 | Tree Streets | 12450 | 2/1/1 |
| 16 Lafayette Rd. W | Princeton Boro | 950000 | 650000 | 85 | Western | 20673 | 5/3/1 |
| 33 Richard Ct | Princeton Boro | 650000 | 650000 | 11 | None Avail | 12063 | 3/2/1 |
Princeton Township Sold Homes
| Street Address | Town | :List Price | Sold Price | Days on Market | Subdivision | Taxes | Beds/Full Baths/ 1/2 Baths |
| 129 Birch Ave | Princeton Twp | 390000 | 390000 | 16 | Tree Streets | 6408 | 2/1/0 |
| 56 Leigh Ave | Princeton Twp | 460000 | 415000 | 88 | None Avail | 6700 | 3/1/0 |
| 424 Harrison St | Princeton Twp | 610,000 | 525,000 | 135 | None Avail | 9625 | 4/2/1 |
| 41 Maidenhaed | Princeton Twp | 625,000 | 610,000 | 10 | Fieldwood Manors | 10599 | 3/3/1 |
| 246 Jefferson | Princeton Twp | 725.000 | 730,000 | 21 | None Avail | 13621 | 4/2/1 |
| 156 Laurel Rd. | Princeton Twp | 780,000 | 750,000 | 34 | None Avail | 12,259 | 4/2/2 |
| 41 Pardoe Rd. | Princeton Twp | 775,000 | 765,000 | 18 | Western | 14,198 | 4/2/1 |
| 1 Governors Ln | Princeton Twp | 899,000 | 840,000 | 237 | Governors | 15,934 | 4/3/1 |
| 15 Journeys End Ln. | Princeton Twp | 1,100,000 | 875,000 | 57 | Littlebrook | 17,848 | 5/3/0 |
| 65 Rollingmead | Princeton Twp | 975,000 | 942,000 | 79 | Littlebrook | 19,335 | 5/3/0 |
| 120 Winant Rd. | Princeton Twp | 1,595,000 | 1,186,300 | 80 | None Avail | 34,680 | 5/5/1 |
| 48 Sycamore | Princeton Twp | 1,595,000 | 1,295,000 | 260 | Riverside | 18,888 | 4/5/0 |
| 532 Lake Drive | Princeton Twp | 1,500,000 | 1,307,500 | 110 | Riverside | 33,438 | 4/3/1 |
| 551 Lake Drive | Princeton Twp | 1,995,000 | 1,650,000 | 120 | Riverside | 44,526 | 4/3/1 |
| 48 Pheasant Hill | Princeton Twp | 1,995,000 | 1,850,000 | 36 | Littlebrook | 37,967 | 6/5/1 |
| 164 Clover Ln | Princeton Twp | 1,995,000 | 1,861,000 | 212 | Littlebrook | 11,080 | 5/5/2 |
| 331 Gallup Rd. | Princeton Twp | 2,100,000 | 1,895,000 | 64 | Stony Brook | 34,405 | 5/6/2 |
| 121 Winfield Rd. | Princeton Twp | 2,200,000 | 1,999,900 | 64 | None | 30,498 | 4/5/1 |
Tim McLaughlin, VP Weichert Financial
1) Reduce monthly mortgage payment
2) Reduce term of the mortgage
3) Consolidate debt
4) Cash out refinance for various purposes
