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Bergen County Real Estate News: March 2009 – Week 2

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

March 2009 – week 2 Issue

Predictions of the housing market
Events in Tenafly for March
Teaneck connects to every home
Cresskill borough connects to its residents
Bergen mall in Bergen County


Predictions of the housing market

Housing experts are making various predictions given the current state of the housing scenario. While the luxury housing market remains stabilized, experts suggested that demand for small and less expensive homes will rise. It is indicated that over the coming years, many first time buyers (children of baby boomers) will soon enter the market for buying homes and would prefer less expensive homes as compared to luxury housing. Also with many reeling from the effects of the housing crisis, there would be a pronounced preference for less expensive homes. Experts also indicate that as many of the current generation of baby boomers retire, they will prefer to downsize and opt for less expensive homes. Also as New Jersey Real Estate prices are not expected to attain their peak of 2005, by 2020; experts state that the home purchasing activity will also considerably slow down. Statistics of New Jersey on the whole also reflect that many of its residents are shifting to neighborhood states given the low cost of living elsewhere.


Events in Tenafly for March

Bergen County living has been always about culture, entertainment and fine education. For example, residents of Tenafly have various events to look forward to this month. Art lovers of the region can look forth to the art exhibition by Zach horn. Entitled ‘Duality’, this exhibition is on display at the Waltuch gallery from March 1, 2009 to March 24t. From March 15 to March 24th, residents of Tenafly can also benefit from the program on college planning for children with learning disabilities. Organized by the Guttenberg center for special services, this program will be held as a two part seminar for parents, students and special educators. This program will be conducted at the Kaplan JCC of the Palisades. Also film loving residents can enjoy the film ‘A night at the Opera’ again in March at the Cedar Lane cinema of Tenafly. Finally, the end of the month will be marked by the wine tasting event of Palmer’s crossing restaurant on March 26th. The event will showcase five flights with eleven pairings or stuffed olives, rosemary shrimps, mushroom ravioli and a range of other options.


Teaneck connects to every home

Residents of Teaneck now have a range of options to keep themselves informed and abreast of events in their region. Various sites catering to diverse aspects of Teaneck have mushroomed over the years. The Teaneck Suburbanite at teanecksuburbanite.com is one such site that offers a gamut of information on schools, entertainment, news and events in and around town. The site also conducts a weekly poll on different aspects of the town. Town lovers can also get more scoops on Teaneck from sites like:www.teaneckinfo.com which gives detailed information about the town while www.teaneckcreek.org is a member driven site that caters to the historic legacy of the Teaneck Creek watershed. Besides this, the town’s public library can be accessed at www.teaneck.org while its hospital’s information can be accessed from www.olyname.org. For those seeking information on schools in Teaneck, much can be found at theBergen County schools info section at: http://www.nj.gov/education/regions/bergen.htm, while students currently studying in its schools can access report cards and relevant information fromhttp://education.state.nj.us/rc/.


Cresskill borough connects to its residents

Residents of Cresskill in Bergen County can now get all the information they need from their Borough hall at the click of a few buttons. A newly redesigned website of the borough hall at www.cresskillboro.com gives all relevant and update information regarding contact information of officials, community and government events and also upcoming meetings. The site will also regularly update minutes of public meetings and post a quarterly newsletter so all users in Cresskill can be on top of information. Besides this, the site also offers a list of downloadable forms that can be used to apply for marriage certificates, home improvement permits and other requirements. While the web site has been in the pipeline for quite some time, it has been two weeks since the site is formally up and running. Brainchild of various officials, who feel that it is important to connect people to the right information, this site was designed by Cit-e-net LLC for an initial fee of $6000. Officials also state that amounts of $3000 may further be required every year for the upkeep and maintenance of this website.


Bergen mall in Bergen County

The revamped Bergen mall, previously known as the Bergen Center is attracting more and more stores and brands. This revamped center is now approximately 95% leased and officials are looking forth to a successful launch of the center in August. With over one million sq feet of retail space, this project has been quite successful given the tough retail environment. The center is being chosen by many brands and few of the first tenants of the mall include large brand names like Target and Nike factory outlet. Officials of the center added that the large brand names have increased interest for other prospective tenants too. The effort to redo the mall has been made by the Vornado Realty trust, members of which state that the remodeled mall is well positioned given the slow economy of today. Statistics reveal that the center has been drawing more tenants than Xanadu, the entertainment and retail complex of East Rutherford, which is only 70% leased to date. Asked the reason for its current success, officials reported that value centers and discount stores are what most customers are seeking today and the Bergen mall is succeeding only because it fulfils that need.


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