Is Anybody Out There From NJ?
I'm a newbie here looking to talk to and share info and ideas with seasoned investors and newbies from NJ. I live in Brick, Ocean County, NJ. NJ real estate is selling at full price, sometimes within 24 hours of MLS listing. Difficult to find wholesale deals in this particular market. Property is appreciating at an absurd rate. If a seller is in beginning stages of default, foreclosure takes months, if not more, can sell within weeks, sometimes hours, of listing at full market value in MLS, close within 30 days, which is not uncommon on regular bank mortgages in this state (did it myself in August of this year when I bought my own townhouse) where is the motivation to deal with me, using creative financing and selling to me at a wholesale price? Would love to here from local investors on how you found motivated buyers and made your deals work in my particular market. <IMG SRC="images/forum/smilies/icon_rolleyes.gif">
[ Edited by NyteFlier on Date 03/16/2004 ][ Edited by NyteFlier on Date 03/16/2004 ]
Yes, NJ is selling at full price as is NY, Ive recently moved to the poconos and found theres a lot of very good property here at very good prices. If you are an invester maybe you should try this area.... Good Luck
Hey fellow New Jerseyan (?) ! I am from Pitman and before you make fun of my town's name let me tell you the same thing is happening here. We just had our house appraised twice in 2 years for refinancing purposes and when they told me what it was appraised at I laughed! and I am still astonished what people around me are getting for their house! I couldn't afford to move in here now at these rates. I don't know why this is happening at this time, I have been here a total of 11 years (8, then moved away, then moved back again) but I saw a change when I had to move back to this area from Camden County (10 minutes from Philly). I thought I would make a killing on my house in Westmont (outside of Haddonfield, ritzy ritz ville) and get a great deal here, the opposite was true, we sold for just asking price after 3 months and had to settle for what we really didn't like here because it was all we could afford. If anyone told me this would happen in Pitman I would have said they were crazy.
I know what you mean about the listings. They go here in a week at most and always at asking price, no bargains here. I haven't given up but it really isn't an easy investor's market. They are here, I just haven't figured out where yet. Let me know how you make out in Brick.
Lorraine
I appreciate u'r comments, but I am really looking for comments that can answer my question, not just identify with my circumstances. Every time I get a response to this post, it's posted in my email. It takes time for me to check it out.. Unless it's a post I can learn from, It's a waste of my time. Please, only investors in my market that have made money, respond. Thanks. Hope I don't sound like a bitch
NyteFlier
you do in fact sound like a bit(& !
I am new to this forum, but not new to CREI... I am a full time investor in NJ and have done many deals. I can tell you from experience that one (very) important aspect of real estate investing is dealing with people. I suggest you learn how to do this.
You want me to tell you how I find my motivated sellers.. ? (not "buyers" as your post read) And then you want me to tell you how I made my deals work in this market?
Your kidden right?
Don't waste MY time. There are motivated sellers in EVERY market, .... I repeat EVERY market. Do some work.
Based on your post I think you're arrogant! I am taken aback at your level of ignorance and rudeness. I hope that I wasted a good deal of your time in "making you come all the way to the website to read this post"
I was going to add alot more to this post, but it is indeed a waste of my time, so I won't. Just a word of advice. Learn everything you can by reading every post here and on other sites, find and read the free articles put some effort into educating yourself AND THEN post intelligent questions about things you don't understand.... then perhaps someone with more experience will take valuable time out of their schedule to answer you.
/me claps for gslen!
Amen to that!
Let the record reflect, that not everyone from this town is that shallow.
[addsig]
hi gilsenan
Im right up the road from you, in Mt Pocona area.
Good Luck
Joe
Hi Kman
If you find any nice vacation homes on a lake in the Pocono's I can take sub2 let me know!
Around Lake Arial would be nice...