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Bergen County Real Estate News: January 2010 – Week 1

Bergen county news with an emphasis on aspects affecting real estate, residency and community issues.

January 2010 – week 1 Issue

Activities in Tenafly
Events in Alpine
Real Estate trends in the new decade
2009, 2010 in Fort Lee
Bergen vehicles go fuel friendly

 

Activities in Tenafly

Luxury Tenafly real estate and good facilities make it a wonderful residential town. These facilities range from shopping malls to restaurants and also parks. One Tenafly restaurant that has gained popularity over the past few years in this region is Hamsa. It offers good Middle Eastern and Moroccan cuisine and many Tenafly residents frequent it for its wide range and well seasoned dishes. More details on this eatery can be availed at hamsausa.com or a table can be reserved by contacting 201-871-6060. As the New Year begins, residents of Tenafly also look forward to the Tenafly’s various newly planned activities. One special program for nature lovers includes the Owl Prowl planned at the Tenafly Nature Center. Planned on January 11, 2010, this program will enable participants to meet a live owl from the center. More details on cost of registration, time and venue can be availed from the center. Another event in the town includes a program for all those who are ‘Coping with unemployment’. Stan Goldberg, the past president for Fortune Personnel Consultants, will offer expert advice at this seminar which is planned for all Tuesdays and Thursdays, starting January 12, 2010 and extending up to March 18, 2010. More details can be availed from the Adult Department at 201-569-7900.

 

Events in Alpine

The first part of January in Alpine will see a range of events taking place in the region. For one, a guided ‘history hikes‘ tour is likely to be conducted by the NJ Section of Palisades Interstate Park. Through this event, the various participants can access approximately the 30 miles of hiking treks in the region. These hikes will be conducted free of charge and will be open in any weather conditions. However extreme weather, heavy rains or icy precipitation may cause cancellation. Participants will be taken through easy and moderate trails and will cover over three miles of a round trip. These treks will start off on January 10, 2010 with a hike of the ‘Millionaire’s Row’ located atop the cliff in Alpine. This region has earned its name, thanks to the stretch of stately Alpine homes and large estates that once dominated in the region. The trekking teams will meet at the park’s headquarters in Alpine, a stately manor house, and begin from there. More details on the hike can be availed from njpalisades.com or by contacting 201-768-1360.

 

Real Estate trends in the new decade

As we enter a new decade, real estate experts note that trends have evolved over the past decade drastically. In the past years, the top three marketing methods were noted to be newspaper advertisements, yard signs and open houses. Today is the online age and approximately 90% prospective buyers prefer to view homes for purchase online. Realtors have also responded to this and today almost all have an online presence. Besides the mode of advertising, median home prices have also changed drastically over the past decade. Home prices have risen by approximately 25% and homes that sold in November 1999 at $130,500 today were seen to rise to approximately $170,600 in November 2009. Home buying trends have also evolved over the period. Home buyers during 1999 were seeking single family detached homes. However through the current time frame, today’s home buyers give preference to good suburban neighborhoods. The kind of buyers in the 1990s included mostly married couples. In the 2000s trends indicate home purchases being made by many single men and women as well. Today homes for single women are a growing market comprising of one fifth of total home sales. Statistics reveal that while few things have changed, there are many elements that have also remained consistent. For example the average age of home buyers continue to be 29 and parameters of neighborhood quality, home affordability and proximity to school and work have stayed the same.

 

2009, 2010 in Fort Lee

As Fort Lee home owners and residents bid the past year goodbye, we take the time to look at various developments in the last year. A few highlights have been low municipal taxes and reduction in the bond debt and interest programs of the borough. The market for luxury real estate in fort Lee also showed a stability and things are set to improve in 2010. Officials are hopeful that things will improve further in the New Year and look forth to various developments and progress in 2010. As per officials, the first priority goes to development of the vacant land plot of Centuria project. While this development will hopefully brighten things for Fort Lee, officials also state that they intend to be fiscally prudent in its undertaken. Another top priority for Fort Lee is the work by the signs and façade committee which will improve the look of Main Street. 2010 will also usher in various events like the Arts and Music Festival in June and other fairs for children, youth and adults. Despite the tight budgets educational programs will also go on with referendum plans.

 

Bergen vehicles go fuel friendly

Residents from various Bergen County towns are now looking for novel means to protect the environment and save money. In this regard, municipal vehicles in a few towns are utilizing fuel efficient hybrids rather than the usual gas. While these hybrids cost more than usual vehicles, users have discovered that these are more fuel efficient and thus give better gas mileage of up to three times. As per experts in the line, hybrid vehicles are fuel efficient due to various reasons. For one, they utilize both electric and gasoline engines. Also, they do not burn fuel while idling and are powered totally by electric engines at low speeds. In times of financial crisis, when budgets are tight, various towns like Clifton, Tenafly and Westwood are benefiting from these vehicles. Though the initial cost is high, results are tremendous and most towns hope to save more funds utilizing these nature friendly options. Sooner or later more and more towns are expected to convert to these new age environment friendly options too.

 


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