These days when you open the television to watch the news or read the newspapers, the only catastrophe that is being talked about is the inevitable and steadily rising number of foreclosure properties. This is a situation that is concerning and needs to be addressed immediately but the problem is that this is not just a state specific problem; it is plaguing the entire country. The real estate market seems to be spiraling downwards and Americans have handful of trouble with their inability to make the necessary payment on their mortgages. According to specific sources, it is estimated that there are around 2.2 million homes in the US that received some form of foreclosure notices throughout 2007 as compared to the 1.6 million in 2006. Industry experts believe that since many homeowners have missed their mortgage payments by the end of the last quarter of 2007, there will be a larger number of foreclosure houses that will receive foreclosure warning notices this year.
The year 2007 saw an increase in foreclosures by state as New Jersey filed 53,652 foreclosure homes and this is an increase of 34% as compared to 2006. The foreclosure rate of New Jersey in 2007 was 0.9% or one per 100 homes. There has been quite an increase in the number of New Jersey foreclosures as the state recorded a 34.3% rise in the first quarter of 2008 as compared to the final quarter of 2007. This is also a 66% increase as compared to the first quarter of 2007. As of today the rate of foreclosure inventory in New Jersey has crawled up to 1.89%, which is the highest since 2002 when it was 1.90%.
Monday, November 17, 2008
Friday, November 14, 2008
Avail of New Jersey Foreclosure Listings for Excellent Home Deals
More people are encouraged to browse through New Jersey foreclosure listings after they’ve discovered the excellent deals they can get. Houses and apartments, even luxurious condominium units, are priced much lower than when you seek for real estate listings. New Jersey foreclosure listings, therefore, offer a great option for those who are tight in budget but want to make an investment in real estate.
Why Invest in New Jersey?
One of the most perfect states in the United States to live in is New Jersey. There are countless opportunities for different kinds of individuals. The place is surrounded with prestigious schools and colleges, and the beach serves as the most ideal getaway for any tired soul. New Jersey is riche in its culture, very evident in the number of museums that are scattered all over the big cities. The suburbs, which are truly excellent places to raise a family, are very much near the big cities. Thus, you can always go back to a more laid-back environment once you’re done with your hectic work in the metropolis.
It’s no wonder therefore that there are millions of real estate investors who opt to engage their money in New Jersey real estate. Mostlyforeclosures.com gives you an incredible deal for properties that are way below their fair market value in their listings of New Jersey foreclosure homes. This is the biggest bargain you can get in the real estate market. Moreover, you are not going to be limited with your choices as properties range in various types, including condominiums, apartments, and simple residential houses. With us, you can discover how you can avail as much as 50 percent discount in all of the properties, regardless of whether they are repossessions from the government, bank, and any other financial institution. New Jersey foreclosure listings give you a one-of-a-kind of opportunity to achieve initial savings while achieving excellent gross profit margin.
Why Invest in New Jersey?
One of the most perfect states in the United States to live in is New Jersey. There are countless opportunities for different kinds of individuals. The place is surrounded with prestigious schools and colleges, and the beach serves as the most ideal getaway for any tired soul. New Jersey is riche in its culture, very evident in the number of museums that are scattered all over the big cities. The suburbs, which are truly excellent places to raise a family, are very much near the big cities. Thus, you can always go back to a more laid-back environment once you’re done with your hectic work in the metropolis.
It’s no wonder therefore that there are millions of real estate investors who opt to engage their money in New Jersey real estate. Mostlyforeclosures.com gives you an incredible deal for properties that are way below their fair market value in their listings of New Jersey foreclosure homes. This is the biggest bargain you can get in the real estate market. Moreover, you are not going to be limited with your choices as properties range in various types, including condominiums, apartments, and simple residential houses. With us, you can discover how you can avail as much as 50 percent discount in all of the properties, regardless of whether they are repossessions from the government, bank, and any other financial institution. New Jersey foreclosure listings give you a one-of-a-kind of opportunity to achieve initial savings while achieving excellent gross profit margin.
Thursday, November 13, 2008
New Jersey Bank Foreclosures for sale
New Jersey is also known as the Garden State and you can find some stylish and comfortable New Jersey foreclosure homes. Here is some valuable information on New Jersey bank foreclosures.
What to expect from New Jersey
New Jersey is an aggressively industrial state, and its strength lies in pharmaceuticals, chemicals, instruments, oil, machinery, apparel and electrical goods. New Jersey has the highest population density in the U.S. and despite the crowd and industries; you will find some refreshingly beautiful New Jersey foreclosed homes. This is the specialty of the Garden State. It has around 127 miles of white sandy beaches, picturesque towns, and scenic landscape dotted with mountains. If you purchase foreclosure homes in New Jersey then it will be like living in paradise.
New Jersey is popularly known as the crossroads of the East and is one of the most expensive states in the country. The overall cost of living in New Jersey is almost 32% above the national average while housing is almost 73% above the average. You are probably thinking how will you afford a home in New Jersey then? That’s why the best buy is bank foreclosures in New Jersey. You can find some of the most amazing, beautiful, stylish, modern and Victorian homes through New Jersey foreclosure listings. These list are not available everywhere, you will have to look for them. You can find some of the lists with banks or other financial institutions or lenders. These lists may not be updated and hence you might have to take a membership with some of the online real estate agencies to get a more updated and comprehensive list.
New Jersey foreclosures
The year 2006 has been quite a difficult year for most New Jersey residents or homeowners. Places like Monmouth County and Bergen County have recorded foreclosure rates, which have increased enormously. The rates were almost ten times that of 2005. This happened due to the increased housing payments for people who chose an adjustable rate mortgage (ARM) option. As a result most of the residents ended up defaulting on their loan. This has led to an increase in the inventory of New Jersey foreclosure homes.
Some of the industry experts believe that the increasing foreclosure rates can be blamed on the low loan-approval standard implemented in New Jersey during the housing boom. But all said and done the current real estate market condition looks promising enough. New Jersey home foreclosures are available in the form of fixer-uppers, condominiums, HUD homes, VA homes, REC, and many others. As an investor you can even purchase handyman specials at bargain prices, do the repairs, get a paint coat and sell it off for a profit.
In a way the future of New Jersey bank foreclosures look bright enough but the question is are you willing to bid for it? In an expensive city, this is the easiest way of finding the home of your choice and dream and at a cheap price or at a 25% discount.
What to expect from New Jersey
New Jersey is an aggressively industrial state, and its strength lies in pharmaceuticals, chemicals, instruments, oil, machinery, apparel and electrical goods. New Jersey has the highest population density in the U.S. and despite the crowd and industries; you will find some refreshingly beautiful New Jersey foreclosed homes. This is the specialty of the Garden State. It has around 127 miles of white sandy beaches, picturesque towns, and scenic landscape dotted with mountains. If you purchase foreclosure homes in New Jersey then it will be like living in paradise.
New Jersey is popularly known as the crossroads of the East and is one of the most expensive states in the country. The overall cost of living in New Jersey is almost 32% above the national average while housing is almost 73% above the average. You are probably thinking how will you afford a home in New Jersey then? That’s why the best buy is bank foreclosures in New Jersey. You can find some of the most amazing, beautiful, stylish, modern and Victorian homes through New Jersey foreclosure listings. These list are not available everywhere, you will have to look for them. You can find some of the lists with banks or other financial institutions or lenders. These lists may not be updated and hence you might have to take a membership with some of the online real estate agencies to get a more updated and comprehensive list.
New Jersey foreclosures
The year 2006 has been quite a difficult year for most New Jersey residents or homeowners. Places like Monmouth County and Bergen County have recorded foreclosure rates, which have increased enormously. The rates were almost ten times that of 2005. This happened due to the increased housing payments for people who chose an adjustable rate mortgage (ARM) option. As a result most of the residents ended up defaulting on their loan. This has led to an increase in the inventory of New Jersey foreclosure homes.
Some of the industry experts believe that the increasing foreclosure rates can be blamed on the low loan-approval standard implemented in New Jersey during the housing boom. But all said and done the current real estate market condition looks promising enough. New Jersey home foreclosures are available in the form of fixer-uppers, condominiums, HUD homes, VA homes, REC, and many others. As an investor you can even purchase handyman specials at bargain prices, do the repairs, get a paint coat and sell it off for a profit.
In a way the future of New Jersey bank foreclosures look bright enough but the question is are you willing to bid for it? In an expensive city, this is the easiest way of finding the home of your choice and dream and at a cheap price or at a 25% discount.
Wednesday, November 12, 2008
If you are looking for a perfect home, you should consider Wheaton foreclosures for sale
Perfectly Wonderful Living in Wheaton
Imagine living in a charming city that offers you so many benefits. Wheaton is a city that is known for lovely historic districts and tree lined streets. It is a city that embraces the values that are ideal for raising a family and having a solid future. Wheaton foreclosure listings make it possible to do just that. The variety of homes to choose from in the houses for sale foreclosure listings make it simple to find a newer home or one that is older but still has a lot of potential.
Quality Wheaton Bank Foreclosures
Wheaton bank foreclosures are a smart place to start the search for that comfortable home. These types of listings can include some of the best homes in the city, and they are priced well below similar residences. For quality and a lower price, you should always see what repossessed houses are up for sale. However, that doesn't mean that they are the only housing option to buy in Wheaton, there are tons more listed on our site.
Now is the Time to Invest in a Wheaton Home
The good life in Wheaton is waiting for you to join the community. This community is one that has a very positive future and is going to continue to grow. So take a little time and see what is going on with the real estate market in Wheaton and what is in our database to represent that area. You will most surely be surprised in a very nice way.
Imagine living in a charming city that offers you so many benefits. Wheaton is a city that is known for lovely historic districts and tree lined streets. It is a city that embraces the values that are ideal for raising a family and having a solid future. Wheaton foreclosure listings make it possible to do just that. The variety of homes to choose from in the houses for sale foreclosure listings make it simple to find a newer home or one that is older but still has a lot of potential.
Quality Wheaton Bank Foreclosures
Wheaton bank foreclosures are a smart place to start the search for that comfortable home. These types of listings can include some of the best homes in the city, and they are priced well below similar residences. For quality and a lower price, you should always see what repossessed houses are up for sale. However, that doesn't mean that they are the only housing option to buy in Wheaton, there are tons more listed on our site.
Now is the Time to Invest in a Wheaton Home
The good life in Wheaton is waiting for you to join the community. This community is one that has a very positive future and is going to continue to grow. So take a little time and see what is going on with the real estate market in Wheaton and what is in our database to represent that area. You will most surely be surprised in a very nice way.
Monday, June 23, 2008
New Jersey Foreclosures Offer Great Investment Opportunities
Sub prime loans given to people with low income groups and adjustable rate mortgages have rendered the New Jersey real estate market as unstable as the real estate market throughout the country. An extremely large number of homeowners have recently seen their houses being foreclosed or being filed for foreclosure by lending agencies and banks. However, New Jersey foreclosures are still lower than those in many other states. Another thing that sets the New Jersey properties apart from the rest of the country is that home prices have not fallen as drastically as that in other areas.
Therefore, while the situation of homeowners who are constantly losing their homes to New Jersey foreclosures is unfortunate to say the least, real estate investors can turn around this situation to their advantage by investing in foreclosure properties. Most of the foreclosures in New Jersey are currently owned by lending companies and not banks. And the majority of these companies have got neither the will nor the resources to maintain the large amount of foreclosure inventory that they have acquired.
As a result, you can find New Jersey foreclosures being auctioned off or sold by these companies for as little as 50% of their actual rates. Since property prices have not fallen drastically in the state, a foreclosure purchase can provide you with instant equity. The moment the market turns up, these properties can earn their owners a profit of more than a hundred per cent on sale. Another segment that can take advantage of the current situation in the state are average but fixed income earners who can now buy good foreclosure houses that they could not afford earlier.
The areas that have till date reported the highest numbers of New Jersey foreclosures have been concentrated in the cities, with Trenton, Jersey City and Newark leading the list. However, foreclosure properties are available for sale across the state and you can currently find great investment opportunities throughout New Jersey. Currently, a large number of New Jersey foreclosures are listed in Newark, Stanton, Newton, Lakehurst, Salem and Peterson.
Therefore, while the situation of homeowners who are constantly losing their homes to New Jersey foreclosures is unfortunate to say the least, real estate investors can turn around this situation to their advantage by investing in foreclosure properties. Most of the foreclosures in New Jersey are currently owned by lending companies and not banks. And the majority of these companies have got neither the will nor the resources to maintain the large amount of foreclosure inventory that they have acquired.
As a result, you can find New Jersey foreclosures being auctioned off or sold by these companies for as little as 50% of their actual rates. Since property prices have not fallen drastically in the state, a foreclosure purchase can provide you with instant equity. The moment the market turns up, these properties can earn their owners a profit of more than a hundred per cent on sale. Another segment that can take advantage of the current situation in the state are average but fixed income earners who can now buy good foreclosure houses that they could not afford earlier.
The areas that have till date reported the highest numbers of New Jersey foreclosures have been concentrated in the cities, with Trenton, Jersey City and Newark leading the list. However, foreclosure properties are available for sale across the state and you can currently find great investment opportunities throughout New Jersey. Currently, a large number of New Jersey foreclosures are listed in Newark, Stanton, Newton, Lakehurst, Salem and Peterson.
Monday, May 26, 2008
The Foreclosure Epidemic Hits New Jersey
In the last quarter of 2007, the rate of foreclosure homes in New Jersey was a record high and the brunt of it was being taken by the homeowners. More and more borrowers had started to sink deeper under the overwhelming weight of their mortgage debts and that too in a weakened economy. As a result of this, lenders had to send notices to several homeowners and many found themselves suddenly stranded without a home.
According to the Mortgage Bankers Association in New Jersey, there was a rise in the number of new houses foreclosure by 0.68%, which is considered to be the highest percentage change in New Jersey since 1979. One of the reasons being that borrowers or homeowners had taken loans to buy real estate property at inflated prices. As a result, they were unable to sustain themselves and couldn’t avoid the foreclosure wave.
According to the chief economist of Cherry Hill-based Commerce Bancorp, Joel Naroff: the people who had bought homes within the period of 2005-06 had no other options but to stretch and unfortunately they had to stretch quite a lot. The maximum impact of foreclosures by state was seen in North Jersey with Passaic County being at the top. January 2008 saw filings for 714 foreclosure homes in the county, which is a huge jump from 227 filings in January 2007. Bergen County followed at the second place recording 276 foreclosure filings in January 2008, which is more than the 138 recorded in January 2007.
The most obvious reason contributing to the high number of foreclosure homes in New Jersey is the adjustable-rate mortgages, which are still being preferred over other mortgages.
According to the chief economist of Cherry Hill-based Commerce Bancorp, Joel Naroff: the people who had bought homes within the period of 2005-06 had no other options but to stretch and unfortunately they had to stretch quite a lot. The maximum impact of foreclosures by state was seen in North Jersey with Passaic County being at the top. January 2008 saw filings for 714 foreclosure homes in the county, which is a huge jump from 227 filings in January 2007. Bergen County followed at the second place recording 276 foreclosure filings in January 2008, which is more than the 138 recorded in January 2007.
The most obvious reason contributing to the high number of foreclosure homes in New Jersey is the adjustable-rate mortgages, which are still being preferred over other mortgages.
Thursday, March 20, 2008
Jersey City Foreclosure homes - A great investment
If you are looking to invest in real estate; try purchasing one of the many Jersey City foreclosure homes. If you decide to do this in order to provide rental homes you can find yourself in a very lucrative business. Providing rental properties is a service that is in high demand.
Jersey City is a city that is abound in foreclosure homes that can offer you the ability to purchase a home that you can put on the rental market and save money with your purchases. While purchasing a home is ideal for most, there are reasons that some choose to rent. Many people move very often and sometimes completely across the state for their jobs. For these people purchasing a home might not always the best option
Jersey City has a lower amount of foreclosure listings than some cities but there are huge bargains to be found in Jersey City. If you are looking to your investment future, Jersey City foreclosed houses can help you do just that. Current listing of Jersey City foreclosure homes prices begin in the $65,000.00 range. While the majority of foreclosures in Jersey City are in the low to mid range, there are always exceptions. Clearly there is something for everyone in Jersey City.
In your search for one of the many Jersey City foreclosure homes you want to examine the neighborhoods that have the homes that you are interested in. The families that will be renting the Jersey City bank foreclosures that you choose to purchase will be interested in the area. While it is very possible to find Jersey City foreclosure listings in affluent neighborhoods, the area is something that you need to be aware of.
Now that you have made the decision to invest in rental properties, you are ready to take the next steps. Research the Jersey City foreclosure homes that you think you would be interested in. Find out some information about the neighborhood. All of these steps will go a long way in helping you to choose which of the many Jersey City foreclosure homes will be the best investment for you.
Jersey City has a lower amount of foreclosure listings than some cities but there are huge bargains to be found in Jersey City. If you are looking to your investment future, Jersey City foreclosed houses can help you do just that. Current listing of Jersey City foreclosure homes prices begin in the $65,000.00 range. While the majority of foreclosures in Jersey City are in the low to mid range, there are always exceptions. Clearly there is something for everyone in Jersey City.
In your search for one of the many Jersey City foreclosure homes you want to examine the neighborhoods that have the homes that you are interested in. The families that will be renting the Jersey City bank foreclosures that you choose to purchase will be interested in the area. While it is very possible to find Jersey City foreclosure listings in affluent neighborhoods, the area is something that you need to be aware of.
Now that you have made the decision to invest in rental properties, you are ready to take the next steps. Research the Jersey City foreclosure homes that you think you would be interested in. Find out some information about the neighborhood. All of these steps will go a long way in helping you to choose which of the many Jersey City foreclosure homes will be the best investment for you.