Franklin Lakes real estate, Bergen County New Jersey Home sales report for 2008. Franklin Lakes showed one of the larger unit volume declines of 60% from the high year of 2004. However, there was only a decline of 15.11% for median home sale price from the prior year which was the high year for median price. Data source is the New Jersey Multiple Listing Service.
Hopefully, we are see a bottom forming in this market now. For about 6 months or more Jumbo loans have been next to impossible. Loans to $1,000,000 were available from savings and loans, but the larger jumbo's were tough. Now we can get loans with lesser spreads for 30 year fixed you to $4,000,000. Franklin lakes has many high priced homes, which need jumbo loans in many cases.
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Richard
Information and data is believed to be true but not guaranteed
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