Which NY/NJ areas are likely to shoot up like Toms River and

amother

Wed, Jun 08 2022, 2:28 pm

Which NY/NJ areas are likely to shoot up like Toms River did, going from $500,000 to 1M over a period of about 5 years and have similarly grand homes on large properties?

Is there another area in Ny or NJ, similar to Toms River, with similarly luxe homes on large properties, that frum people have started to move into?

tia

wifenmother

Wed, Jun 08 2022, 2:32 pm

amother [ OP ] wrote:

You need to take into account that during the same period of time real estate shot up nationwide. It wasn't specific to Toms River. Historically real estate has its ups and downs in 7 year+/- cycles, but for this last cycle the very low interest rate environment helped too... and we are headed into a higher interest rate environment now.

amother

Amethyst

Wed, Jun 08 2022, 2:45 pm

Howell NJ. Check out areas by oak glen road. Jews are moving there and there are some large nice homes. 6 min to lakewood.

amother

Wed, Jun 08 2022, 2:45 pm

wifenmother wrote:

That may be true to some degree, but I dont think houses doubled in price anywhere else.

amother

Stonewash

Wed, Jun 08 2022, 2:47 pm

amother [ OP ] wrote:

That may be true to some degree, but I dont think houses doubled in price anywhere else.

Many communities saw such an increase.
Toronto.
Even Baltimore. Real estate went up like crazy.
We own really cheap properties in philly (like bought for 25-50k they have increased exponentially).
Real estate exploded. In part bec interest rates were so low.
With interest rates doubling I expect prices to fall slightly. A mortgage is now double it was 6 months ago. Ppl can’t go as high.

amother

Periwinkle

Wed, Jun 08 2022, 2:47 pm

amother [ Amethyst ] wrote:

Howell NJ. Check out areas by oak glen road. Jews are moving there and there are some large nice homes. 6 min to lakewood.

The large houses there are not cheap they are 1 million

amother

Amethyst

Wed, Jun 08 2022, 2:49 pm

I have seen for 800k .
If you are looking for a nice large home but not a toms river mansion house then the prices are in the 600s. You can get a nice 4 bedroom house , double garage, big property and a pool .

amother

Wed, Jun 08 2022, 4:58 pm

I think Toms River shot up way more than anywhere else. Theres no comparison.

Even in BP which is still desirable to many, houses that were 2 million, 5 years ago, did NOT go up to 4 million. At most they went up to 2.75 million.

Even 3 family homes with huge incomes, only went up a few hundred thousand in the last 5 years.

No comparison at all.

amother

Lemon

Wed, Jun 08 2022, 5:10 pm

amother [ OP ] wrote:

I live in a certain community outside ny and prices tripled in my neighborhood. Literally.

amother

Mintcream

Wed, Jun 08 2022, 5:21 pm

I bought a house in lakewood one year ago for 650,000 it is now worth over a million!! Crazy!

amother

SandyBrown

Wed, Jun 08 2022, 5:28 pm

Absolutely there are other places that went up as crazy! NMB, Hollywood, Miami Beach just to name a few! Toms River is just one of the many places that has gone up like crazy.
I have a friend in Miami Beach who bought her house less than 2 years ago for 1.3M and has gotten offers of over 3M!
I have a friend in NMB who bought two years ago for 400,000 and now her house is going for 800,000 (she can probably get more!)
I bought less than two years ago and now my house is just about double!

amother

Blush

Wed, Jun 08 2022, 6:07 pm

amother [ OP ] wrote:

So everyone should stop complaining about Brooklyn. Houses havent doubled or even close.

Huh? Who is complaining about Brooklyn? And what does that have to do with your OP?

amother

Molasses

Wed, Jun 08 2022, 6:19 pm

We bought our large lakewood home 17 years ago for $450…. Before Covid it was up to $750. Now it’s worth $1.4 but we’re not selling because where would we go?
If you buy a house on the outskirts it will probably increase in value over time because more frum people really need a place to live but don’t expect anything to double again so fast. That just doesn’t happen.
Would you consider Manchester NJ? So far I think it’s more of a young crowd.

amother

Periwinkle

Wed, Jun 08 2022, 6:24 pm

amother [ Molasses ] wrote:

It’s not so young in Manchester. It’s a big range quite a few with high school and above. But bigger houses are already in the 7s

amother

Wed, Jun 08 2022, 6:27 pm

amother [ Periwinkle ] wrote:

It’s not so young in Manchester. It’s a big range quite a few with high school and above. But bigger houses are already in the 7s

From what I hear the nicest ad biggest of the Manchester houses dont come close to Toms River houses.

amother

Jean

Wed, Jun 08 2022, 6:52 pm

Are you looking for a place to live or a place to invest?

If you are looking for a place to invest maybe Mt. Holly or Trenton, yes Trenton NJ the prices there has shot up and it is now on the list of one of the great places to raise a family

amother

cornflower

Wed, Jun 08 2022, 7:05 pm

I am not in Lakewood. I am in Monsey area. Bought 7 years ago for 500k and now worth over a million.