It is a good time to buy foreclosures, as rates are low and programs like the FHA 203k loan allow you to even get the money for renovations. Plus, they are easier to find than in the past.
We do business in Jersey City. If I can be of assistance, just let me know. I'd be happy to help you anyway I can.
It is the perfect time to buy foreclosures, if you can stomach all the work and worry trying to close the transaction and bringing most of these properties up to livable standards.