Foreclosure Foreclosure, I want to buy a Real Estate Foreclosure.

I here this all the time, investors and would be investors are staying up way to late watching TV and thinking that just because they talk about great deals in real estate foreclosures on TV that these must be the best possible deals. After all the banks must just want to give these places away to get the bad debt off of their books. Sorry to say but that just is not reality.

There are plenty of great deals in real estate out there. Many times the best and safest deals are not foreclosures at all. I found one just last week in fact. If I were not in the middle of a project of my own I would be very very tempted to purchase this home. Many times the best deals are already listed for sale and a great Realtor will find them for you.

I have found one now.

Located in Florham Park New Jersey, This is a 3 Bedroom 1 Bath home which has been partly updated.

Here are the details:

Good Points:

1. Looks to have a very new roof on it.
2. Siding looks brand new.
3. Windows seem to all be newer double pain type not in need of replacement
4. Kitchen and Bathroom have already been stripped and are ready for the new pieces.
5. Up-stairs has a nice sized room which could be a Master bedroom, there is a approximate 10' x 11' room which would make a wonderful master bathroom, and even better part of it is above the main floor bath. Making this a 2 full bath home.
6. The house has forced air heating which needs to be replaced, a new furnace and central AC would be fairly easy to install and also fairly inexpensive.

Bad Points

1. Hardwood floors need to be refinished
2. House is built on a crawl space, main floor floors seem to need to be insulated, looks like it would not be very hard to do that though.
3. The yard has been unkept for a while now and needs some work.

All of this in a neighborhood where in 2007 similar homes in average to above average condition have been selling between $420,000 to $445,000. This home in its current condition is priced about 360K (Of course prices are usually negotiable).

If you would like to take a look at this home or know more about it please contact James Boyer, Re/Max Real Estate 973-647-0253

If you would like to do a little market research on Morristown Real Estate I have a nice MLS tool for you to use for free. Please use it as much as you like.

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