Since you live in central Jersey, it's winter time about now. Not much riding to be done in the next 3 months. Try and save/earn another $500 in those 3 months and wait to make your purchase closer to spring. More bikes show up for sale around spring time and with $1,500 you can find yourself a nice early 90's 250. You didn't say what kind of riding you do, so don't rule out a KDX 200 or 220 or maybe even a KTM 200. The KDX line is not for MX but if you ride trails this is a great bike and they tend to be cheaper than a 250 MX bike.
In the next 3 months scour every want ad and internet site you can, because there are a ton of great deals out there. Don't be afraid to haggle with someone. If you see a bike for sale for around $1,200, call the guy and offer him your $1,000 cash on the barrel head. You would be surprised how fast people are willing to come down in price when they see the green in front of them.