Hello,
I'm very new to the real estate market; I purchased a house in Plainsboro, NJ for $475,000 and 5 years later, it is valued at $875,000. Taxes have shot up and the school system is ranked the best public school system in the state -> leading us to consider selling the house and buying another house at another highly appreciating site in New Jersey or the tri-state area within an hour of Edison (as I would like to keep my present job). We'd live in the new property for a few years and hopefully experience the same appreciation as we have seen in this present house. Where can I find some information on highly appreciating properties (buy cheap/sell high) areas? Your advice could include advice on buying foreclosed properties in those areas. Please let me know as our financial situation is dwindling. God Bless.

Your best source for up to date information about new areas would be an experienced, local Realtor.

He or she can point you toward the up and coming areas as well as work with you on foreclosures and repossessed homes. Most lenders now list their foreclosed properties for sale with local Realtors rather than dealing with bunches of inexperienced buyers looking for a 'steal' and making lots of unreasonable requests and demands.

In Texas it's illegal for a Realtor to make material promises that a particular property will appreciate. Why? Because buyers want reassurance that a house will be an investment but only a psychic can predict the future.

You're literally asking the Million Dollar Question: "where's a property that I can buy that will outpace inflation and traditional investments?" No one knows, and any Realtor who tells you "this place will appreciate as fast as the one you have now" is unethical.

Be careful, and please hedge your real estate investment bets!

Hello
Apart for looking for appreciation down the road what are the important needs/requirement in the house. Example School,highway,Metro,close to some family members etc.
According to that you can narrow down the area in and around Edison.Still not sure you can ask your realtor to help you narrow down the area according to your personal requirement.

I agree with JFLYNN it is illegal to materialize promises.

Good Luck

Ritu