APP.com reports on the surge of home sales in neighboring townships and the opposition to it by locals. "Obviously there are some people who are very disturbed by certain people moving in," said Esther Klein, a top-selling real estate agent with ReMax on the Move Realty in Lakewood. "I think it's a little bit out of control." in another quote "The people that are selling their houses for substantial profits are not the ones that are complaining, obviously," said Avi Schnall, the state director for Agudath Israel of America, an advocacy group that represents the interests of the Orthodox Jewish community. An Asbury Park Press analysis of real estate sales data from the New Jersey Department of the Treasury shows the heaviest sales activity concentrated in three main areas, all within a mile or two of the Lakewood border: Jackson's Whitesville section, which includes Galassi Court; the township's Brookwood developments, located farther north off West County Line Road, and a cluster of 14 streets in North Dover, north of Hickory Road. Together, those areas alone accounted for 132 sales since 2015, compared to 54 the year before. More than two-thirds of those homes had sale prices above what township assessors estimated them to be worth.
The analysis excluded foreclosures, short sales, deed transfers within families, and homes that sold for less than $100,000. Some prices were eye-popping. A 4,000-square-foot home on Fiddlers Run in North Dover fetched $855,000 last year -- $250,000 above its estimated market value. In Jackson, a 1,300-square-foot home on White Road sold last year for $356,000, almost $130,000 above its assessed tax value. Read the story HERE
The analysis excluded foreclosures, short sales, deed transfers within families, and homes that sold for less than $100,000. Some prices were eye-popping. A 4,000-square-foot home on Fiddlers Run in North Dover fetched $855,000 last year -- $250,000 above its estimated market value. In Jackson, a 1,300-square-foot home on White Road sold last year for $356,000, almost $130,000 above its assessed tax value. Read the story HERE