I'm in the process of buying a house in Haddon Twp/Oaklyn area. I see forclosers in the area, should I worry?

Asked by Cm27, Haddonfield, NJ Mon Mar 24, 2008

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Tolstoy08540…, Both Buyer And Seller, Belle Meade, NJ
Tue Mar 25, 2008
Yes. Unfortunately, numerous foreclosures, like, in a neighborhood
where you are trying-to buy a home: DOES impact the value
of your home-- sadly, as-in DEPRECIATION. Sources to read:
RealtyTrac, City-Data, as well as Trulia. Do your CMA before you buy!
Web Reference:  http://www.CNNMoney.com
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Janice Morze, , 08108
Tue Mar 25, 2008
Hi CM27. Unfortunately, foreclosures are everywhere. The numbers are very high throughout the area. I would not let it influence your decision on a spot to settle. These people are not able to afford ballooning mortgage payments..not criminals. They houses will with either go for sale and be purchased by a lucky buyer, investor (who will LIKELY fix them up and resell or rent them out), or will become bank owned and sold to investors also. That is my take on it. It is everywhere, sadly enough. Hope all goes well and you enjoy your new home. I am local in Collingswood and love the area. Haddon Twp and Oaklyn are stones throws away. The areas surrounding your potential purchase area are good ones. Well kept and nice neighborhoods. Take care and good luck
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