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Old 04-16-2013, 05:15 PM
 
Location: South Jersey
7,780 posts, read 18,921,816 times
Reputation: 2329

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Quote:
Originally Posted by frankgn87 View Post
True. Taxes are a bit higher in Camden county. But you can buy a heck of a nice home for well under $200k. Look at this one. You could buy it for $180k.


16 Knollwood Drive, Cherry Hill NJ - Trulia

Or this one for $120k and low taxes! Thats Philly row home prices people

16 Knollwood Drive, Cherry Hill NJ - Trulia

The second one is the same house. HERE is the $120k single home .. with a little over $5k in taxes. Dirt cheap. Heck, we paid over $7k in Philly just for wage tax, + the $1200 a year taxes.

8 Edison Road, Cherry Hill NJ - Trulia
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Old 04-16-2013, 05:30 PM
 
1,114 posts, read 1,966,926 times
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Quote:
Originally Posted by frankgn87 View Post
The second one is the same house. HERE is the $120k single home .. with a little over $5k in taxes. Dirt cheap. Heck, we paid over $7k in Philly just for wage tax, + the $1200 a year taxes.

8 Edison Road, Cherry Hill NJ - Trulia
$5k taxes on a house worth $120k is obscenely high.
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Old 04-16-2013, 07:37 PM
 
Location: a swanky suburb in my fancy pants
3,391 posts, read 7,737,587 times
Reputation: 1586
Quote:
Originally Posted by HeavenWood View Post
lol if dated appliances and worn carpets don't bother you, all the more power to you; I personally like ovens that don't take hours to preheat and dishwashers that can... clean dishes. If you trust your "eyes" more than actual scientific surveys, I'd love a pair of those peepers. And the statistical analysis would be for my benefit, because now I'm slightly curious.
Appliances don't have to be brand new and stainless steel to do a good job but if somthing does have to be replaced it's not a lot of money compared to the total cost of the property. Also I would expect to paint and replace the carpet in any previously lived in home. It's part of the moving expense. I too will be curious to see how you measure "value" with a survey.
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Old 04-16-2013, 09:49 PM
 
Location: North by Northwest
7,473 posts, read 10,235,627 times
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Quote:
Originally Posted by bryson662001 View Post
I too will be curious to see how you measure "value" with a survey.
It turns out the Census Bureau's real estate values are estimates given by the homeowners themselves. So much for them being of much value (mea culpa on citing those figures authoritatively). I'm sure most homeowners can give a half-decent ballpark estimate, but unless you're a true real estate buff and/or have had your home recently appraised, you're not going to be able to give a qualified answer (and as a result, the aggregate values are probably at least a bit higher than they should be, given peoples' natural biases). At the same time, however, Zillow's aggregate estimates seem to be on the low side--the question is, how low?

I'll probably do a small N survey on the zip code level (most likely the ones corresponding to Cherry Hill and Abington Township/surroudning) comparing the final sale prices of homes sold in the last calendar year (using Zillow) to both the z-estimates and Census figures, dividing by date built, and using the aggregate data to come up with both stratified and overall $/square footage figures. I know final sale price and "fair market value" aren't necessarily the same thing, but given that one so closely dictates the other in the speculation-fueled real estate game, it should be fairly illuminating.

Maybe I'll use this as an excuse to get to the bottom of the property tax debate as well. Either way, I have to get through finals first.
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Old 04-16-2013, 11:00 PM
 
Location: The place where the road & the sky collide
23,169 posts, read 28,586,554 times
Reputation: 9566
Quote:
Originally Posted by frankgn87 View Post
The second one is the same house. HERE is the $120k single home .. with a little over $5k in taxes. Dirt cheap. Heck, we paid over $7k in Philly just for wage tax, + the $1200 a year taxes.

8 Edison Road, Cherry Hill NJ - Trulia
That house is a couple of blocks from where my house in Kingsway Village was. The house has an addition. God knows when it was last assessed, but prior to the real estate collapse houses in the development with additions were going for $200K. That would explain the taxes.
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Old 04-17-2013, 05:03 AM
 
Location: South Jersey
7,780 posts, read 18,921,816 times
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Exactly South. Get a re assessment and you are golden. Besides that home so such a good deal even WITH the high taxes its still cheap!
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Old 04-17-2013, 09:48 AM
 
Location: The place where the road & the sky collide
23,169 posts, read 28,586,554 times
Reputation: 9566
Quote:
Originally Posted by frankgn87 View Post
Exactly South. Get a re assessment and you are golden. Besides that home so such a good deal even WITH the high taxes its still cheap!
It's a great, totally safe neighborhood, Frank. I was sorry to leave, but they priced me out with the taxes.
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Old 04-17-2013, 10:34 AM
 
Location: a swanky suburb in my fancy pants
3,391 posts, read 7,737,587 times
Reputation: 1586
Quote:
Originally Posted by HeavenWood View Post
It turns out the Census Bureau's real estate values are estimates given by the homeowners themselves.
This is what I did (not scientific I admit)
Awhile back someone had a thread asking what can I get for 250K that focused on Abington township. I just did the same thing using East Cherry Hill 08034 on Trulia. I found the quality of the inventory in CH within those parameters (IMO) so superior it was a revelation. I admit it's subjective and influenced by personal taste. Abington's older housing stock at those price points isn't as appealing to me. Mid to late '50's is about as old as I want my house to be and prewar is particularly unappealing.
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Old 04-17-2013, 10:56 AM
 
Location: North by Northwest
7,473 posts, read 10,235,627 times
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Quote:
Originally Posted by bryson662001 View Post
This is what I did (not scientific I admit)
Awhile back someone had a thread asking what can I get for 250K that focused on Abington township. I just did the same thing using East Cherry Hill 08034 on Trulia. I found the quality of the inventory in CH within those parameters (IMO) so superior it was a revelation. I admit it's subjective and influenced by personal taste. Abington's older housing stock at those price points isn't as appealing to me. Mid to late '50's is about as old as I want my house to be and prewar is particularly unappealing.
Of course it's subjective and influenced by personal taste. That's why I try to find hard data whenever possible so my own biases don't get in the way of what the truth is (when there is a truth, as opposed to just a series of subjective opinions).
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Old 04-17-2013, 11:08 AM
 
Location: The place where the road & the sky collide
23,169 posts, read 28,586,554 times
Reputation: 9566
Quote:
Originally Posted by bryson662001 View Post
This is what I did (not scientific I admit)
Awhile back someone had a thread asking what can I get for 250K that focused on Abington township. I just did the same thing using East Cherry Hill 08034 on Trulia. I found the quality of the inventory in CH within those parameters (IMO) so superior it was a revelation. I admit it's subjective and influenced by personal taste. Abington's older housing stock at those price points isn't as appealing to me. Mid to late '50's is about as old as I want my house to be and prewar is particularly unappealing.
08034 is the central Cherry Hill zip code.
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