Jersey City currently has as many as 862 foreclosed homes and houses for sale. They bear the median listed price of $332,000. There are nearly 1,500 other homes listed for the property auctions sporting the average listed price of $374,900. In addition, there are also four other new FSBO {for sale by owner} homes, commanding the relatively exorbitant median listed price of $604,995. This makes it quite obvious that the foreclosed homes are being sold at a significant discount upon the prevailing market values of the properties.
Jersey City is a city in Hudson County, in the US state of New Jersey. Jersey City lies on the bank of the Hudson River and is a part of the New York MSA {metropolitan statistical area}. The city is an important port, a prosperous manufacturing hub of diverse products, and a busy distribution core. The suburbs of Jersey City include the Island of Manhattan, Hoboken, Weehawken, Secaucus, North Bergen, West New York, Bayonne, Guttenberg, Harrison and Kearny.
Key Factors in Selecting Homes
The three foremost considerations in purchasing a home from the Jersey City foreclosure auctions may be cited as follows: its location and neighborhood, its price and its physical condition. Firstly, the locality has to be decent, clean and relatively crime-free. The house you choose should be in the vicinity of markets, schools, parks, hospitals and the like. Secondly, the price should be such as you can comfortably afford buying and repaying the mortgage installments for. The price should also be at an attractive discount over the market values of comparable homes. Lastly, since the seized properties are auctioned on an “as is” basis, you must inspect the property circumspectly and make sure about any repairs that you would require to carry out on the property after purchase. You can consider the purchase of a home to be worthwhile or not, based upon the results yielded by the discussed criteria.
Benefiting from an Agent’s Experience
Jersey City property auctions have Richard Metjian, John Broker Baier, Joseph Piarulli and Lawrence Perlaki as influential players, though they neither sell nor buy homes. As among the prominent property brokers of New Jersey, they guide buyers to make relevant and lucrative real estate investments. There are hundreds of agents in New Jersey and you ought to find yourself one who can be expected to guide you to derive the most windfalls from your property investment. So far as buyers are concerned, the agent’s sundry suggestions come absolutely free of charge as he receives compensation only from the sellers from the sale takings. You ought to firstly confirm that the agent you hire has the requisite legal accreditation. Select an experienced agent who works fulltime, who is acquainted with the areas of more interest to you, and who appears to go by your requirements and specifications. A seasoned agent can guide you smoothly through every stage of the real estate listings auctions and help you to emerge a winner from there.
