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Princeton NJ Real Estate - How Does Gasoline Affect Home Values?

Princeton NJ Real Estate - Are Gas Prices Affecting Home Values?

Greater Princeton NJ Mercer County Real Estate could be seriously influenced by the raising gasoline prices. My guess, the only people who say "Oh thank heaven" (as the sign in the picture) are the management and the shareholders of oil companies.

For the rest of us raising fuel prices are an ongoing concern. As a New Jersey real estate agent I need to prepare to deal with these issues.

In Princeton, Montgomery Township, West Windsor and other local communities, conversation about "How is the real estate" isn't new, nor is it limited to the times of the softer market and New Jersey real estate price declines. Lately, I hear another type of a conversation.

The sentiments about the gas prices come up, probably, as often as the ones about the Princeton real estate. The question that comes to mind, how would the opposing trajectories, of gas prices raising and New Jersey real estate prices declining, affect home buyers and sellers. I am not an economist, but could foresee these developments having an impact on the home buyers. There are also and new issues they need to consider when deciding where to buy their house.

You can read the full article at Princeton NJ Real Estate and Gas Prices .

How do you think gas prices would affect real estate values where you live?

Photo by ewen and donabel

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Posted by Faina Sechzer - Princeton, Montgomery, Hopewell, NJ Real Estate Expert on 05/24/2008 04:47 PM

Comments (6)

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6 Comments on Princeton NJ Real Estate - How Does Gasoline Affect Home Values?

Faina, Unrelated but down on the Jersey shore rentals have been moving better the last few weeks. I think folks have ruled out air travel because of fuel costs.

05/24/2008 04:55 PM

by Blogger To Be Named Later

Andrew -very interesting. I have a sample of one -my family, and our plans have been greatly affected. First time in many years, no European trip for us and no other plans yet. I just though of something else -the importance of liking one's home:)

05/24/2008 04:59 PM

by Faina Sechzer - Princeton, Montgomery, Hopewell, NJ Real Estate Expert (Henderson-Sotheby's International Realty)

Faina, we are at our lake house and gas here is 4.05 and 4.25. Suffice it to say we are being quite conservative in our jet skiing.

05/24/2008 08:30 PM

by Missy Caulk-Ann Arbor- Realtor(R)- Ann Arbor Real Estate (Keller Williams-Ann Arbor)

Hi Faina, Great question: In my area the affects will vary. teas that are near public transportation to the city - near the trains -- will over time do very, very well. People can walk to trains, walk to stores in some places. That will become more valuable. FOr the high, high end (over $2 million) I don't think things like gasoline prices matter.

05/24/2008 09:00 PM

by Ruthmarie Hicks (Keller Williams Realty)

Missy -same here, except no lake house:)

Ruthmarie - I agree that the importance of train transportation will become very important to suburban areas without many large employers. People who need to commute to metropolitan areas will be taking the price of gas into consideration when deciding were to live.

05/24/2008 10:27 PM

by Faina Sechzer - Princeton, Montgomery, Hopewell, NJ Real Estate Expert (Henderson-Sotheby's International Realty)

I guess what I was also trying to say was this: Areas that are close to public transportation will start really heading UP in value. Being near public transportation is going to be PURE GOLD in the years to come. People think land is too expensive now. Just wait a few years and the pressure of energy prices could well drive homes and land values that within an easy commute beyond what we thought was possible.

05/25/2008 01:41 AM

by Ruthmarie Hicks (Keller Williams Realty)

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