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RussianBergen county news with an emphasis on aspects affecting real estate, residency and community issues.
Housing slowdown in bergen county
New Building in Leonia
Saving Open Land in Bergen County
Storm Rakes up Bergen County
Tax Hike in Parts Of Bergen County
Housing slowdown in bergen county
Various Bergen County towns like Tenafly and Demarest are experiencing a decrease in the housing and real estate market. Statistics by the National association of realtors reveal that the sales of existing homes have come down by 16.3 percent in the second quarter of 2006 as compared to the same time in 2005. The decrease in home sales in the second quarter affected the national level as well. In the New York City region (i.e. Bergen, Passaic and Hudson counties) the median sale price was seen at $549,200 in the quarter. While this was a rise of 8.4 percent, it still fell short of the double-digit annual increases seen in the past few years. Data from the New Jersey Multiple Listing Service also revealed something similar.
The median sale price for a one- to four-family home in Bergen County was reported at $488,000 in the second quarter, a 5 percent increase over the same period in 2005. Various realtors from Tenafly and the neighbourhood reported similar trends.
A new building is proposed to come up in Ft. Lee Green, Leonia. If all goes well, this 103-foot building would come up at the intersection of Route 46 and Fort Lee road. The building is proposed to be nine stories high and will contain 36 work and live units. It will cater to the requirements of professionals seeking home offices in Leonia. The building is also proposed to have four affordable-housing apartments, conference rooms and a printing canter. However, currently the residents in Leonia, Bergen County are fighting tooth and nail against this new construction as they feel that it will disturb their quiet neighbourhood. On Thursday, August 17, 2006, many Leonia residents turned up at a Fort Lee council meeting and protested that the Ft. Lee Green is not suitable for the area due to its density and height.
Saving Open Land in Bergen County
Many residents of Bergen County and its neighbouring areas can now help to keep their stretch of land from developing into buildings and still sell their taxable land at more reasonable costs. People who own land in the highlands area and do not want to sell it to developers can now benefit from the Highlands preservation law. This Act has been designed to protect water-generating lands in a seven-county area stretching from north-western Bergen and northern Passaic counties down into Hunterdon. As per the law, development of land not already divided into building lots, is prevented. Land owners have the option of selling their land parcels to organizations like the New Jersey Conservation Foundation or the Morris Land Conservancy.
A violent storm ripped through many parts of North Jersey on August 10, 2006. This storm caused much havoc and Bergen County was one of the areas that suffered much from its impact. Power lines were torn down, manholes ripped open and a few officials were injured due to the electrical shock caused by lightening that hit buildings in Cliffside Park. Many basements and roads in Bergen County were flooded with the waters.
Power lines were affected in Englewood Cliffs, and fell across Route 9W just north of Fort Lee. Transportation was blocked, as authorities had to close the highway. Many other roads were blocked and cars were seen floating in the water.
Tax Hike in Parts Of Bergen County
Residents in Garfield, Bergen County, are quite upset about the 25-point tax hike by the city council. This decision came through on August 8, 2006, when in a 4-1 vote, the majority of the council approved for a budget worth $26,734,350 for the year 2006 as compared to $24,487,204 for 2005. This is a notable rise of $2,247,146 in 2006. The tax hike break-up is due to an 18-point increase in municipal charges, a 4-point increase in school taxes and a 3-point increase in county taxes. An average home assessed at $160,000 will see a tax hike of $396. This is reported to be the highest increase in tax in the city’s history. Unable to bear the burden, many are even contemplating to sell their homes in Bergen County and leave. Click here for more information about Garfield.
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