Princeton Real Estate
The Princeton Real Estate Market continues to be brisk with opportunities for both buyers and sellers.
Princeton Real Estate Activity the week of 5/6/12:
9 New Listings on the Market this week. A rare 5 bedroom home came on the market for less than $1 million this week!
8 Princeton homes went pending.
8 Princeton homes reduced their price this week.
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You now have a great chance to take the licensing course right in Princeton starting in June…for only $99!
There are two courses that start in June at our Princeton training location:
Day Course: 6/18 – 6/29. Hours are 9am-4:30pm, Monday – Friday.
Evening Course: 6/19 – 8/23. Hours are 6:30 – 10:15 pm, Tuesday & Thursday evenings.
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Here are some quick happenings in the Princeton Real Estate Market for the week of 5/5/12
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Tim McLaughlin, VP Weichert Financial Services
The U.S. added a seasonally adjusted 115,000 jobs in April, the government said Friday, as private employers added 130,000 jobs. The unemployment rate ticked down to 8.1%, the lowest rate since January, 2009.
Some of the slowdown may have been the result of an unusually warm winter, which likely caused some companies to hire workers earlier in the year than they otherwise would have. Indeed, the Labor Department revised upward its estimates for job growth in February and March by a combined 53,000 jobs. With the revisions, the U.S. has added an average of just over 200,000 jobs per month over the past four months, a marked improvement from last summer, when job growth nearly stalled out.
The jobs report likely won’t change the Fed’s stance on QE3. Market watchers say at least one more jobs report and maybe another GDP number are needed before the Bernanke and the Fed decide their next move. Other signs have been more encouraging. A measure of manufacturing activity this week showed the fastest pace of growth in nearly a year, and layoffs slowed last week after picking up earlier this spring.
“We interpret this as consolidation, not the start of a prolonged slowdown,” said Jay Feldman, economist at Credit Suisse. “Job growth ran too far too fast ahead of private sector final demand for a period of time, perhaps due to the warmest winter in a century, and is now coming back to earth.”
Federal Reserve officials have said that they expect only gradual improvement in the labor market the rest of this year.
The Fed last week forecast that the unemployment rate would fall to somewhere between 7.8% and 8.0% by the end of 2012. If the labor market stalls, the Fed could reconsider measures to stimulate the economy. “If unemployment looks like it’s no longer making progress, that will be an important consideration in thinking about policy options,” Fed Chairman Ben Bernanke said last week. Friday’s report showed that private companies again fueled the growth, adding 130,000 jobs in April. Governments, meanwhile, cut payrolls by 15,000.
A quick look at some happenings in the Princeton Real Estate Market this week:
The market continues to be vibrant with more balance between buyers and sellers. 2012 will still go down as the year to buy real estate. On many purchases it is cheaper to buy a home than to build one! Stay tuned for more market news.
Looking for Homes in Princeton. Click here to start your search here.
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Beautiful, Modern Princeton Home for Sale
Beatrice Bloom presents 910 Stuart Rd, Princeton, NJ. A circular driveway leads you to this fantastic clear redwood contemporary ranch set on just over 2 wooded acres in Princeton Ridge. Throughout the home, vaulted ceilings and clerestory windows allow for spacious and gracious light filled rooms. Numerous walls and doors of glass overlook the huge wrap around deck and wooded yard. The striking living room is surrounded with two story windows and a marble fireplace. The formal dining room features double glass doors opening to the deck and is adjacent to the family room with a stone fireplace and slate flooring. The spacious kitchen includes a butcher block island, double ovens, two sink areas, a large pantry and a breakfast room, all overlooking the deck and patio from glass doors. An impressive master bedroom with generous walk-in closet has volume ceilings and many windows and glass doors opening to the deck looking out to serene views. The luxurious marble master bathroom offers double sinks and large tub.Three additional bedrooms with ajoining bathrooms
Click here for more photos, a map of the location or to make an appointment.
Tim McLaughlin, VP Weichert Financial Sercvices
As we enter 2012, here are some money saving tips specifically related to the housing sector to help you manage your financial budget and capitalize on savings.
Buying a home: What size is right? According to a survey by the National Association of Realtors, home construction firms expect U.S. houses to average 2,152 square feet in 2015, down 10% from last year. This means that if you’re buying with the goal of selling it in the future, trends suggest that oversized homes may be a declining trend in the future. So an astute buyer needs to decide what size home is right for them.
Selling a home: What price is right? According to Joe Magdziarz, president of the Appraisal Institute, sellers and their agents should look at comparable sales data just within the past 90 days to find the right price. You don’t want to be one of the 75% of homeowners who believe their home is worth more than it is. Your knowledgeable Weichert Realtor can help you assess what price point the market will dictate to help sell your home.
Already a home owner: Shorten your loan Refinancing your mortgage to a shorter term can save you significantly. For instance, a $250,000 mortgage, going from a 30 year at 4.25% to a 15 year at a 3.50% would save you $12,000 in interest over the life of the loan (assuming full term duration). Don’t want to do a 15 or 30 year term loan? Terms of 10, 20, and 25 years are also available. Your educated Weichert Financial Gold Services Manager can help you custom fit the term that works best for you.
Already a home owner: Refinance, Refinance, Refinance Even if you don’t think you have enough equity (or any equity) in your existing property, there are new product offerings coming on the market each day, so where you may have gotten a “no” in the past, you may be able to get a “yes” today or in the near future. Additionally, there are options to do a cash-in refinance, where you bring some cash to closing. If disposable cash is an issue, there are also options to build closing costs into the structure to come to the table with little or no cash in many cases.
