For most Kollel families Lakewood is no longer an option as they have been priced out of the market. Agents keep luring out of town buyers from Brooklyn to buy in Lakewood and are willing to put down more and pay more for a home.Will the bubble burst? read Zillow market report
MARKET TEMPERATURE: Cool
Homes may stay on the market for longer.
Buyers can have more negotiating power.
The median home value in 08701 is $305,000. 08701 home values have gone up 5.0% over the past year and Zillow predicts they will rise 3.2% within the next year. The median list price per square foot in 08701 is $156, which is lower than the Lakewood Township average of $157.
Foreclosures will be a factor impacting home values in the next several years. In 08701 1.0 homes are foreclosed (per 10,000). This is the same as the Lakewood Township value of 1.0 and also lower than the national value of 1.4
Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in 08701 is 0.0%, which is higher than the national value of 0.0%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of 08701 homeowners underwater on their mortgage is 0.1%, which is the same as Lakewood Township at 0.1%.
zillow
MARKET TEMPERATURE: Cool
Homes may stay on the market for longer.
Buyers can have more negotiating power.
The median home value in 08701 is $305,000. 08701 home values have gone up 5.0% over the past year and Zillow predicts they will rise 3.2% within the next year. The median list price per square foot in 08701 is $156, which is lower than the Lakewood Township average of $157.
Foreclosures will be a factor impacting home values in the next several years. In 08701 1.0 homes are foreclosed (per 10,000). This is the same as the Lakewood Township value of 1.0 and also lower than the national value of 1.4
Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in 08701 is 0.0%, which is higher than the national value of 0.0%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of 08701 homeowners underwater on their mortgage is 0.1%, which is the same as Lakewood Township at 0.1%.
zillow