Introduction
Thanks to the recession and the collapse of the housing market in many states in the United States of America, there are places where you can find very nice homes at very low prices. NJ is a state that was hit very hard by the housing crunch, so it is possible to discover great deals on NJ homes sale prices. You can find these deals all over NJ, from Cape May in the south to High Point in the north. The closer you get to New York City, the higher the prices will be.
Look on Craigslist for low NJ homes sale prices. People who have to sell fast and at a low price don’t always want to pay a real estate broker to sell their homes for them. Instead, they list them on Craigslist because they know a lot of buyers start shopping for homes there. Also, the sellers can list their NJ homes sale ads on Craigslist for free. Look at the Real Estate section of Craigslist that is for property owners, not real estate agents or brokers.
Call a real estate agent in your area and ask him or her for a list of short sales and foreclosures. A foreclosure is a home that has been repossessed by the lender because the homeowner defaulted on the mortgage loan. A short sale is when a homeowner has to sell his home for less than he owes on his mortgage. Foreclosures and short sales both can offer excellent values on NJ homes sale prices.
Go to your county tax assessor’s office and do a search of property owners who are behind on their tax bills and are in danger of losing their property in tax sales. You can get these people’s names and addresses. Look up their phone numbers in the phone book or search them on an Internet directory, and then call them to find out if they’re planning to pay their taxes. Most of them will, and their properties will not be sold in tax sales. But some will not, and you can get some of these homes at a large discount off usual NJ homes’ sale prices.
Shop for homes in areas that many buyers consider too risky. Cities like Camden and Asbury Park, have many residents who live below the poverty level and so many inexpensive houses. These areas can offer good value on NJ homes sale prices. This can be a good way to get started with investment properties. Cities with many low income residents often have a great need for Section 8 housing. Section 8 subsidizes housing for the poor. The U.S. Department of Housing and Urban Development pays most of the rent on behalf of program participants, so the landlord is guaranteed payment.
Tell everyone you know that you're interested in getting the best deal you can on NJ homes sales. Ask them to be on the lookout for “for sale” signs in yards of homes that might be in your price range, and also to pay attention to fliers they see on bulletin boards, announcements their friends make on Facebook and any other means they might have of finding out information about NJ homes sales you might be interested in.
