Riviera at East Windsor is a completed Toll Brothers community boasting elegant curb appeal with tree-lined streets and mature landscaping in East Windsor, New Jersey. Just 375 single-family homes
Making an assumption here, so may be wrong.....but it seems like you are in P'Boro ...possibly renting or in a condo/townhome.....looking to move to a single family home..........perhaps even looking at newer homes.
If you were searching in the price range of what you may be able to find in East Windsor...........there really isn't anything in Plainsboro /WW....Princeton being out of the question.
So basically, EW is more affordable to single-family home ownership for some......if taking a loan & buying in EW, the taxes do constitute a big chunk of the monthly payments.
The tax rate is quite high in EW & for newer homes........high assessments x tax rate = high taxes.
The tax rate in Pboro is 1.91 BTW.
The "nose dive" you are referring to for EW has more to do with inventory accumulation & tailgating pride reductions...even some short sales & foreclosures driving neighboring prices low.
I last sold in EW ( Stonegate) in 2008 & sold the listings at a 98-99% list/sale ratio within 14 days........but know that the absorbtion in 2009 was much slower than the trends in WW/Pboro.
Since July 09 it has been a very different story in WWP ...esp Plainsboro......more recently I have faced multiple offers & sales at list or higher for each property I put in contracts in for my buyers.........believe it or not!
And it is hard to compete within 6-12 offers (the 12 offers happened for a WW townhome !).
To your last comment....I'd say, if you are an EW buyer, please don't expound on that statement without reviewing numbers form ACTUAL sales & days on market etc. for homes sold within the last 3 months or so.
Only THAT will give you a realistic picture of the market trends for the next 2-3 months ahead.
For what it's worth I heard comments like that from analysts, buyers, realtors, pundits , economists etc. ...from 2007 through 2010........and what really happened........the locally dynamic & highly active market is testament to the fact that real estate is local & there are niche markets that create their own momentum & sustainability.
Good luck !... more