Alpine Luxury House of Snipes

Home > Bergen County Real Estate News > March 2008 - week 1

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

Alpine luxury house of Snipes in trouble
Ferris wheel poses threat on Bergen County property values
Bergen County housing market brings many down
Cresskill schools use software for enhancing education levels
Disabled ask for changes in Teaneck

Alpine luxury house of Snipes in trouble

Noted actor Wesley Snipes owns a luxury Stone Tower drive house in Alpine, a place which is now putting him in a troubled corner. Officials report that the 45 year old star has failed to pay up approximately $70,000 for the Alpine house, amount which he owes in lieu of property taxes, interest and penalties. The home which stretches over two acres is owned by his company, Kymberlyte Production Services International Inc. However as the property taxes for years 2006 and 2007 have not been paid, lien of the property has been sold at a tax sale conducted on December 19, 2007. The lien was purchased by the highest bidder who was Crusader Lien services. Under the law if Kymberlyte does not pay the amount in two years, then Crusader can foreclose the property after the time frame. While the property was purchased by Kymberlyte in 2002 for $5.6 million, current assessment of the property puts its price at 8,055,600.

Ferris wheel poses threat on Bergen County property values

Even in times when property values in Bergen County are going down, residents in the region now have more to worry about. A large Ferris wheel known as the 'Pepsi Globe' coming up in the Xanadu Sports and Entertainment complex threatens to block the view of Manhattan's skyline across the Hudson River. This wheel will loom over 280 feet high, making it larger than the Texas star which is 212 feet in height. It will have twenty six climate controlled glass capsules which can have approximately 20 people for half an hour rides. However neighboring residents are also concerned that the project will generate plenty of noise, pollution and put a strain on local services. While the residents of Bergen County are concerned about many issues including property values, officials from the Xanadu are more optimistic about their project. They feel that the wheel would be a wonderful viewpoint and would help boost the economy of the state further. Construction is expected to begin in the middle of summer and slated to open in November with other aspects of the $2 billion worth sports and entertainment complex.

Bergen County housing market brings many down

While retail sales were noted to be on the rise in January 2008, sales of homes in Bergen County and the neighborhood continue to face a slowdown. The situation appears quite grim with high number of homes on the market but few actually selling. Statistics reveal that the number of foreclosures and loan defaults is also on the rise with many private mortgage insurers also reporting large losses. In the year 2007 itself, foreclosures were reported to rise by nearly 80%. A survey by the National Foundation for Credit Counseling reported that with so many homes on the market, many homeowners are facing high levels of stress. The January poll revealed that 78% reported trouble sleeping while 69% stated that they did not feel refinancing could help them.

Cresskill schools use software for enhancing education levels

The MAP or the Measures of Academic Progress test is now proving highly useful for many teachers of schools in Cresskill. Teachers and school officials report that these tests are not only helping advanced students to stay ahead but are also assisting academically weak children to improve. Initially students had to wait till the middle of the year to find out their weak areas. But these tests target each student's individual strength and weakness areas, giving them a clear focus on where they need to improve. Based on the results of the test, which lasts three hours, teachers are now able to suggest books for students to help them improve in their weak areas. The MAP software has been the brainchild of Northwest Evaluation Association and schools of Cresskill paid approximately $16,000 to avail its benefits.

Disabled ask for changes in Teaneck

Many residents in Teaneck, Waldwick and the neighborhood are finding great difficulty in coping with the train lines and crossings passing through the district. In the region of Teaneck especially, residents complained that the nearest streets to the West Englewood Avenue underpass are not suitable for those on wheelchairs. Comments by various residents indicate that the crossings require residents to climb steep stairs that are not compliant with the American with Disabilities Act. The pedestrian crossings are reportedly not easily accessible to the handicapped and many are thus asking for the provision of ramps, stating that these would make navigating through town a lot easier. While a few residents have even attempted to get New Jersey Transit make the required changes, officials from NJT have reported that they have other priorities. They added that they are in compliance at most of their stations.

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Alpine Luxury House of Snipes -Real Estate News