Woods at Cranbury for $1,395,000 (reduced; sold)
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Woods at Cranbury
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PostPosted: Sun, May 15 2005, 9:50 pm EDT    Post subject: Woods at Cranbury for $1,395,000 (reduced; sold) Reply with quote



$1,795,000
5 Bedrooms, 6 Baths

(info)

Single Family Property
County: Middlesex County
Subdivision: WOODS @ CRANBURY
Year Built: 2004
5 total bedroom(s)
6 total bath(s)
6 total full bath(s)
12 total rooms
Two story
Type: Detached
Style: Colonial
Master bedroom
Living room
Dining room
Family room
Kitchen
Den
Basement
Laundry room
Living room is 18X14
Dining room is 19X13
Family room is 25X17
Kitchen is 23X20
Den is 14X11
Fireplace(s)
Fireplace features: Woodburning fireplace
3 car garage
Attached parking
Heating features: Forced air heating
Central air conditioning
Interior features: Dishwasher, Gas range, Microwave, Self cleaning oven, Gas heating fuel, Gas water heater, Eat In kitchen, Kitchen island, Pantry, Raised ceiling, Vaulted ceiling, Carpet, Ceramic tile flooring, Wood finished floors, Full basement, Formal dining room, Den on first level, Dining room on first level, Family room on first level, Foyer on first level, Kitchen on first level, Laundry on first level, Living room on first level, Dressing room in master bedroom, Master bathroom, Walk-in closet in master bedroom, Jacuzzi type tub, Stall and Tub, 4 bedrooms on second level, Main bathroom on second level, Second bathroom on second level
Exterior features: Public water supply, Public sewer system, 2 car wide driveway, Blacktop driveway, Garbage included, Wooded lot
Exterior construction: Stone, Vinyl siding
Roofing: Asphalt/shingle roof
Approximate lot is 1.3421
Located on a cul-de-sac
School District: Cranbury/Princeton HS
HOA Fee: $180.00/quarter
Tax: $18109 (2006)
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price reduced
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PostPosted: Fri, Jun 17 2005, 10:17 pm EDT    Post subject: price reduced Reply with quote

price reduced to $1,695,000.
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price reduced
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PostPosted: Sun, Jul 3 2005, 1:10 pm EDT    Post subject: price reduced to $1,595,000 Reply with quote

price reduced to $1,595,000.
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tracker
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PostPosted: Fri, Sep 2 2005, 11:51 pm EDT    Post subject: Price reduced again Reply with quote

Price reduced further to $1,499,000.
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tracker
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PostPosted: Thu, Jan 18 2007, 4:09 pm EST    Post subject: Re: Woods at Cranbury for $1,495,000 (new price) Reply with quote

Relisted at $1,495,000.
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PostPosted: Thu, Jan 18 2007, 9:41 pm EST    Post subject: Re: Woods at Cranbury for $1,495,000 (reduced) Reply with quote

I heard this house just sold actually. Still hasn't closed or recorded though. I think the final price was before $1.4 millon...
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tracker
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PostPosted: Fri, Jan 19 2007, 11:22 am EST    Post subject: Re: Woods at Cranbury for $1,495,000 (reduced) Reply with quote

It's odd that RICHARD ABRAMS & GLORIA HUTCHINSON listed this one recently...

http://www.realtor.com/Prop/1074618921
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PostPosted: Sat, Jan 20 2007, 9:32 pm EST    Post subject: Re: Woods at Cranbury for $1,495,000 (reduced) Reply with quote

tracker wrote:
It's odd that RICHARD ABRAMS & GLORIA HUTCHINSON listed this one recently...

http://www.realtor.com/Prop/1074618921


This isn't a recently listing... And Abrams owns the house personally. Never lived there -- bought it on spec to flip...
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tracker
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PostPosted: Sat, Jan 20 2007, 10:58 pm EST    Post subject: Re: Woods at Cranbury for $1,495,000 (reduced) Reply with quote

Guest wrote:
tracker wrote:
It's odd that RICHARD ABRAMS & GLORIA HUTCHINSON listed this one recently...

http://www.realtor.com/Prop/1074618921


This isn't a recently listing... And Abrams owns the house personally. Never lived there -- bought it on spec to flip...


I see.

I think the 30 Shady Brook Lane one for sale now is also an investment property.

http://cranbury.info/viewtopic.php?t=984
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PostPosted: Mon, Jan 22 2007, 1:37 pm EST    Post subject: Re: Woods at Cranbury for $1,495,000 (reduced) Reply with quote

It seems these investment properties come on the market after two years from the purchase date. Is this done to take the tax benefit?
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PostPosted: Mon, Jan 22 2007, 9:26 pm EST    Post subject: Re: Woods at Cranbury for $1,495,000 (reduced) Reply with quote

Guest wrote:
It seems these investment properties come on the market after two years from the purchase date. Is this done to take the tax benefit?


Exactly. 2 years is the magic number for the IRS...
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guest29
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PostPosted: Tue, Jan 23 2007, 12:44 pm EST    Post subject: Re: Woods at Cranbury for $1,495,000 (reduced) Reply with quote

the house has to be your primary residence for 2 of the past 5 years in order to qualify for exclusion on most capital gains tax - investment properties dont qualify
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guest29
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PostPosted: Tue, Jan 23 2007, 12:46 pm EST    Post subject: Re: Woods at Cranbury for $1,495,000 (reduced) Reply with quote

cap gain on houses:

http://www.bankrate.com/brm/news/real-estate/20041018a1.asp
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PostPosted: Tue, Jan 23 2007, 4:02 pm EST    Post subject: Re: Woods at Cranbury for $1,495,000 (reduced) Reply with quote

Consider a new house that I bought two years ago.

I make the house my primary residence (paying property tax, utility bills, etc.). (My secret: I live with my friend most of the time.) I do go back to my house from time to time to check it, and I hire people to take care of the lawn. Also, I don't rent the house out.

There is no way for the IRS to deny that the house is not my primary residence.
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guest29
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PostPosted: Tue, Jan 23 2007, 5:18 pm EST    Post subject: Re: Woods at Cranbury for $1,495,000 (reduced) Reply with quote

yes, nothing is illegal if you dont get caught - so you'd have to setup the big lie... all your records should match; W2's, 1099's, bank accounts etc, - and during the 2 years you would pay ins, property taxes, utilities, maintenance and mortgage on an empty house (if your not renting it) and only be able to deduct interest on your mortgage as well as property tax; its quite a gamble on a million plus loan with 20k in yearly property tax
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tracker
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PostPosted: Mon, Jan 29 2007, 3:21 pm EST    Post subject: Re: Woods at Cranbury for $1,495,000 (reduced) Reply with quote

The address is 28 Shady Brook Lane, right next to the '30 Shady Brook Lane' for sale and the same price as well.
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