Hopewell Resale Values (Pennington: real estate, housing, estate)

[nbrogan]

Can anyone please tell me if they have encountered a noticeable difference in housing resale values between Pennington and Hopewell. A real estate agent mentioned that there may be a lower resale value on a property in Hopewell than in Pennington, due to the relative proximities to I-95. Thank you!

[MoorestownResident]

Originally Posted by nbrogan

Can anyone please tell me if they have encountered a noticeable difference in housing resale values between Pennington and Hopewell. A real estate agent mentioned that there may be a lower resale value on a property in Hopewell than in Pennington, due to the relative proximities to I-95. Thank you!

I don't know if that's true. Hopewell has not been fairing well through the downturn in NJ. I chalk it up to overbuilding and oversupply more than proximity to 95.

[JBrown]

Originally Posted by nbrogan

Can anyone please tell me if they have encountered a noticeable difference in housing resale values between Pennington and Hopewell. A real estate agent mentioned that there may be a lower resale value on a property in Hopewell than in Pennington, due to the relative proximities to I-95. Thank you!

Your real estate "friend" is blowing smoke up your skirt. Check a map. The town of Pennington is CLOSER to I-95 than Hopewell....

It's less than 5 minute drive from Pennington to I-95, 20 minutes minimum from Hopewell to I-95. In fact, to get to I-95 from Hopewell you have to drive THRU Pennington before you get to I-95. I do it almost everyday...

[jerseyj]

Could also be that Hopewells largest employer (Merrill Lynch) has begun laying off. They speculate that 500 employees might lose their jobs at that facility.
Bristol-Myers (Hopewells 3rd largest employer) has also announced that they will be laying off as well.

We have friends in both Hopewell and Pennington and they view the proximity to I-95 as a plus!

[Fairfax Mom]

Pennington has always been known as the richer and more desirable town.