.
News Alert
UPDATE: Massive Berkeley Brush Fire Nearly…

Morris Foreclosures: Do Buyers Save Money?

RealtyTrac: Morris County Foreclosure/Non-Distressed Sales Comparison
RealtyTrac: Morris County Foreclosure/Non-Distressed Sales Comparison

Many potential homebuyers will consider buying a foreclosed home because conventional wisdom says they will be able to purchase a home at a discount. Yet are foreclosures in Morris County sold at a reduced price?

When looking solely at the median sales price, Morris County foreclosures are sold 34% less than the average non-distressed home (not a foreclosure or short sale.) According to RealtyTrac, the nation’s largest foreclosure reporting firm, in November of 2013 the median sale price of a non-distressed home in Morris County was $389,500; while the median sales price of a foreclosure in Morris County was $255,000; a 34.5% reduction or $134,500 savings. The state of New Jersey overall had a 36.4% reduction in sales price or a $100,000 savings.

If you’re searching for a home or foreclosure to purchase in Morris County or anywhere in Northern New Jersey, search online at www.alpharealtygroupnj.com .

Boards

More »
Got a question? Something on your mind? Talk to your community, directly.
Note Article
Just a short thought to get the word out quickly about anything in your neighborhood.
Share something with your neighbors.What's on your mind?What's on your mind?Make an announcement, speak your mind, or sell somethingPost something