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Forum
-> Inquiries & Offers
-> Lakewood, Toms River & Jackson related Inquiries
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amother
OP
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 Wed, Aug 12 2020, 7:55 pm
Anyone else sadly watching the houses shoot up in price, thinking that now Toms River and Jackson are no longer more affordable options? 
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amother
Apricot
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Wed, Aug 12 2020, 7:59 pm
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Yes... really not sure what we’re going to do...
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mig100
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Wed, Aug 12 2020, 8:01 pm
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Just go to the next block.
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amother
Ivory
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Wed, Aug 12 2020, 8:31 pm
| mig100 wrote: | | Just go to the next block. |
This. When I moved to Jackson four year ago, from the time I signed the contract to the time I moved in, about three frum families moved to the block. Even when we signed, only one other person was in contract at the time. The nearest shul was about 45 min away. By the time we moved in, the nearest shul was 25 min away. A few months later, there was a shul on our block. But we were willing to move far out to a new neighborhood and got a good price. Honestly, I can see myself selling when my kids are older (maybe to pay for their weddings!) and moving far out once again for a better price. Jackson is HUGE.
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amother
Apricot
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Wed, Aug 12 2020, 8:37 pm
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We definitely thought about moving farther out. I know people in Lakewood that pioneered new areas and they regret it because it did t turn out to be a crowd they are comfortable in. It’s true, you might get lucky, but you also might not.
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amother
Periwinkle
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Wed, Aug 12 2020, 8:38 pm
| amother [ OP ] wrote: | | Anyone else sadly watching the houses shoot up in price, thinking that now Toms River and Jackson are no longer more affordable options? |
They’re still affordable, much more than Brooklyn. They’re in the 300’s, 400’s
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amother
OP
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Wed, Aug 12 2020, 8:59 pm
| amother [ Periwinkle ] wrote: | | They’re still affordable, much more than Brooklyn. They’re in the 300’s, 400’s |
Depends on the area...houses that used to be in the 400s are now 600k a year later 
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amother
OP
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Wed, Aug 12 2020, 9:05 pm
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We were never going to able to pick up and go to a new neighborhood, but we thought that we can go to a neighborhood in Toms River or Jackson that already had some frum people and be ok...we looked at houses around three years ago and decided to wait until we could afford it more comfortably...now realizing we should have stretched ourselves then!
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amother
Ivory
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Wed, Aug 12 2020, 9:07 pm
| amother [ OP ] wrote: | | Depends on the area...houses that used to be in the 400s are now 600k a year later |
You must be looking in a very specific area. I don’t think my house even went up 100k (maybe but not more) in 4 years and I live in a popular neighborhood.
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amother
OP
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Wed, Aug 12 2020, 9:13 pm
| amother [ Ivory ] wrote: | | You must be looking in a very specific area. I don’t think my house even went up 100k (maybe but not more) in 4 years and I live in a popular neighborhood. |
No not at all a specific neighborhood! Just wanted land because if we’re not staying in lakewood, we might as well have room
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amother
Ivory
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Wed, Aug 12 2020, 9:17 pm
| amother [ OP ] wrote: | | No not at all a specific neighborhood! Just wanted land because if we’re not staying in lakewood, we might as well have room |
I have a huge piece of land and a beautiful pool.
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chocolatecake
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Wed, Aug 12 2020, 9:20 pm
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Interest rates are at record low now. A house that was a little out of your budget 6 months ago should be doable now..
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amother
OP
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Wed, Aug 12 2020, 9:27 pm
Maybe we’re looking in the wrong places...or maybe it’s not our crowd so we didn’t consider the area 
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amother
Apricot
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Wed, Aug 12 2020, 9:33 pm
| amother [ Ivory ] wrote: | | You must be looking in a very specific area. I don’t think my house even went up 100k (maybe but not more) in 4 years and I live in a popular neighborhood. |
It could be it didn’t officially go up more than 100, but houses are going for more than asking price right now.
I think this is famous by now - Jackson house listed for 530 and went for over 600 cash! We went to see a house that was overpriced, saw at least 10 other couples going to see it at the sale time as us. It ended up going for 30k more than asking, cash offer.
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amother
Apricot
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Wed, Aug 12 2020, 9:35 pm
| chocolatecake wrote: | | Interest rates are at record low now. A house that was a little out of your budget 6 months ago should be doable now.. |
That’s everyone’s thinking, buy now while the rates are low. Theyre willing to spend more cuz their mortgage payments will equal out, but it ends up inflating the prices for everyone
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amother
Ivory
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Wed, Aug 12 2020, 9:35 pm
| amother [ Apricot ] wrote: | It could be it didn’t officially go up more than 100, but houses are going for more than asking price right now.
I think this is famous by now - Jackson house listed for 530 and went for over 600 cash! We went to see a house that was overpriced, saw at least 10 other couples going to see it at the sale time as us. It ended up going for 30k more than asking, cash offer. |
I know what houses have been selling for on my block. Not overpriced cash exchanges.
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amother
Ivory
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Wed, Aug 12 2020, 9:36 pm
| amother [ OP ] wrote: | | Maybe we’re looking in the wrong places...or maybe it’s not our crowd so we didn’t consider the area |
My block is a reflection of others as well. What type of neighborhood are you looking for?
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amother
Slateblue
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Wed, Aug 12 2020, 9:48 pm
My husband is a pretty seasoned Real estate agent, primarily in Jackson and Toms River.
A few things-
1- already for months, specific neighborhoods in Jackson and Toms River became very desirable and the prices therefore went up due to neighborhood demand
2- some yidden have caused certain new areas prices to go up. Its happened quite a number of times and its become a pattern that we fee bad to see because it hurts our community. The phenomenon is that A guy with $$$$ sees a house he wants and offers extra cash to nab it. Like an unnecessary amount of extra cash, surprising the seller and had been a bidding war they still wouldn't have come close. But rich guy doesn't care, has cash to spare amd wants house fast and easy. In meantime, the neighbors talk. They see what happened and consider it a ‘comp’ and therefore want that unreasonable sum too.
3 - it used to be that you can just keep moving out and people still are . But there is a limitation based on minyanim / shul. If everyone is moving out farther and farther, slowly people are farther and father from A minyan. Of course eventually that changes and new minyanim form but not everyone is comfortable making that move. Doable but to different extents which is understandably a personal preference thing.
4- There seems to be a correlation between all the Covid happenings and the market becoming what they call a ‘sellers market’. There are wayyy more buyers. Mortgage are at an all time low And people are having cabin fever. So its a supply in demand thing.
Lol for the megilla 
Of course, this are just general trends going on now; but of course every neighborhood still has different comps and different situations.
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amother
OP
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Thu, Aug 13 2020, 8:49 am
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Slateblue, that’s also what I’ve been hearing but it’s nice to hear it’s true from a re agent!
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amother
Slateblue
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Thu, Aug 13 2020, 10:07 am
| amother [ OP ] wrote: | | Slateblue, that’s also what I’ve been hearing but it’s nice to hear it’s true from a re agent! |
What you’ve been hearing is totally true
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