Bergen County Real Estate News : August 2007 – week 4

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

Housing Trends in Bergen County
Bergen County’s Population Growth Slows Down
Environmental Testing in Dumont School
Housing rules for Meadowlands
Efforts for preserving Highlands

Housing Trends in Bergen County

The housing market of Bergen County including Tenafly, Demarest, Closter and the neighborhood continued to be in a slump in the second quarter of 2007 also. Experts added that the market was a weak one and would continue to be so for some time to come. Many realtors however added on a positive note, that the trend was stabilizing the ups and downs of the housing market. Among all regions, the shore regions were seen to do better at housing in New Jersey. The home prices in regions of Bergen County, Passaic County and Hudson County rose by 6.3%. In Bergen County, the average sales price of homes was seen at $583,980 which was a decline from $595,108 in 2006. However median prices fell by approximately the same 6.3% in Essex, Morris and Hunterdon counties. Statistics by the National Association of Realtors also revealed that on a whole price in New Jersey fell by 1.5%. Given the state of affairs a large number of homes put for sale continue to stay so in the market and face the problem of reduction in prices. Trends however indicate that first time home buyers are purchasing despite the market conditions. Moreover, trends also indicate that buyers are negotiating to bring down prices and where the prices of homes are right, buyers are investing quickly.

Bergen County’s Population Growth Slows Down

Census figures reveal that the growth of population in Bergen County has been slower than other regions in the neighborhood. Statistics revealed that for the six years up to 2006, population rates grew only by 2% in the County. However in New Jersey, the population was seen to grow by 3.4%. Figures in other regions fluctuate, with some like Passaic, recording population declines while some like Morris County noting a population increase. The census also revealed that the various races of Asians and Hispanics grew slowly but steadily over these six years in the region of Bergen County and the neighborhood. Also, the number of blacks in the region remained steady. Bergen County was recorded to have 125,000 Asians, the second largest number, after Middlesex County. The census also indicated a slowdown in the housing markets of Bergen County, a trend that was likely to affect the nation. However plenty of apartments and condominiums have been proposed and if all goes well, then over 150,000 new housing units may soon come up.

Environmental Testing in Dumont School

Soil testing was undertaken for the second time in Dumont, in order to confirm traces of pollution in the region. However tests this time revealed that pollution was limited to a small construction site near Selzer School, an elementary institution. Thirteen samples of soil were taken around different regions of the school’s premises, of which only 6 were seen to have levels of pollution by Chlordane, three times higher than safety standards. The area where the pollutant was found in dangerous levels was small, measuring just 40 feet by 15 feet which lay on the walkway of the school. The construction of the school completed in the last fall, and it is still unclear whether the contaminated soil came up during the construction or whether the pollutant was brought in by the contractors. This pollutant was used during the 1950s as a popular insecticide, but was banned in 1988 due to its effects to the environment and the human nervous system. More tests of the soil and air have also been ordered by the Department of Environmental Protection and the school board. Results of these examinations are expected to complete before the school opens.

Housing rules for Meadowlands

New developments indicated that the Meadowlands commission will soon bring out its list of housing regulations to promote affordable housing. Amongst the suggested regulations are included the guidelines that the commission will not provide zoning regulations to developers until they have slots for affordable housing in their plans. Also it has been proposed that all housing plans with or without affordable housing offerings will be put to hold till the new regulations are formalized. However the rule also provides that housing plans where 20% of the units are marked for affordable housing, will be allowed to start with constructions. These guidelines are planned to be introduced formally on August 22, 2007. Once formalized, these regulations would direct the constructions in approximately 14 towns that make up the Meadowlands district.

Efforts for preserving Highlands

Preservation of the Bergen County highlands region has become an issue of growing concern among developers, residents and officials alike. As is well known, these regions provide water for residents of Bergen County and any construction here threatens to pollute the drinking water. Till now open space taxes levied from residents have paid for protecting these regions. Figures showcase that approximately $120 million worth of open space funds have been generated in 2007 alone. In Bergen County alone, where 1 cent of tax is charged for open space preservation, it has helped to raise $15 million in 2007. Open space funds worth $4 million were raised in Passaic County, while Morris County raised 35 million with its 4.5 cents of tax. These efforts brought forth through the Highlands Act of 2004, have helped to preserve over 3700 acres of land in the regions. While efforts by locals in protecting the land has been remarkable, many experts feel that new measures must now be taken and new sources be tapped in order to generate more funds for protecting the highlands.

Buy a Home in Bergen County

Bergen County offers the quality of life for you and your families have been dreaming of. Don’t miss out on this opportunity to set house in one of Bergen County’s towns, famous for their charming atmosphere and top quality schools. Let Anat Eisenberg help you find the house that is right for you. Take your first step with this FREE inclusive report, containing:

• 14 Questions to ask a Realtor
• 5 Powerful Buying Strategies
• 9 Deadly Mistakes Home sellers Make
• Additional Reports
• How To Get Top Dollar In Any Market
• Making the Move Easy on the Kids
• Six Ways To Beat The Stress Of Buying A Home
• Different Reasons to Own Your Own Home
• Things You Should Know about Moving
• When Selling a Home

Get Your Free Inclusive Real Estate Report Now.

Find out more about Bergen County homes available for sale. Anat Eisenberg can help you find your dream real estate property. Anat is no ordinary real estate agent. In short, she is professional, honest and dedicated. Call: 201-341-4765 or email here.