NJ Real Estate Values during the Recession of '08

Todays adventure started  early this morning in front of my Computer. After a quick "bottom feeding" search of the least expensive properties on the Bergen County MLS I found an interesting house, recently  listed, in Hillsdale.  I should have known it was too good to be true. The good: a 6 room, 3 bedroom ranch with 2 baths listed for $189,000 r $189,000.  The bad:  no garage,basement or interior. !  That is very tempting  price for the area and it looked like a real  money make for the right person.      After talking with the investors I've been consulting for, I tried contacting  the Realtor.  In the mean time I knew it might be time of the essence so I headed to the house.  As I pulled up to the house I received a call from the broker, and as I was about to ask for more details,  was told it was already under contract. Because of  the difficulty in getting signed contracts  from overworked short sale departments at the bank, it was still listed as active on the MLS.  It appears that investors are getting back into the market and there is money to be made by those  acting quickly enough.  Now is a prime time for people to start investigating new real estate investments and if you would like to get involved please contact me.