Bergen County Real Estate News: December 2008 – Week 3

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

December 2008 – Week 3 Issue

Pedestrian safety initiatives for Bergen County
Tenafly voted with best photo location
Filmmaking takes back seat in Bergen County
Rails, route to higher home values
High taxes in Bergen County

Pedestrian safety initiatives for Bergen County

Under the five year program on pedestrian safety, various initiatives are being taken up in New Jersey in order to encourage public transit usage and improve quality of life. As per the ‘Safe routes to school’ and ‘safe routes to transit’ programs in the US, five of Bergen County’s municipalities will now receive state grants worth a total sum of $6 million to keep pedestrians safe. While $4 million would be realized for ‘safe routes to school’ grants, $2 million would be used for ‘safe routes to transit’. Under the ‘safe routes to school’ initiative, programs that encourage safe walking and bicycling in routes near Bergen County schoolswould be promoted. Also pedestrian safety awareness would be spread amongst motorists and school children. This would help to reduce traffic jams and air pollution. Under this initiative the towns of Demarest($150,000), Fort Lee ($184,000), Hasbrouck heights ($23,000) and Ridgewood ($42,000) would receive grants. Fifteen municipalities would receive grants for ‘safe routes to transit’ whereby access to mass transit facilities would be improved. In this regard, Edgewater will receive grants worth $70,000. This amount would be used for installing and upgrading sidewalks while also improving lighting and drainage facilities.

Tenafly voted with best photo location

The Davis-Johnson gardens of Tenafly are one of the best places for posing for wedding pictures. A survey by the well known magazine 201.net revealed interesting results as various respondents voted on the diverse bests of Bergen County. Voting done for the year 2008, revealed that Davis-Johnson gardens located at the corner of Engel Street and Westervelt Avenue is quite a popular choice for wedding photos. As per the survey which took into consideration views of both experts and readers, this location has a very romantic air to it. Also there are a range of venues within the park, including rocks, trees and lawns, so that the couple can take photos at different locations and change the background. Voters added that many wedding parties take place at the Davis Johnson gardens, which also has a large gazebo that is ideal for a major wedding picture.

Filmmaking takes back seat in Bergen County

While Bergen county and Fort Lee have a rich history of film making and film studios, the present situation looks bleak today. Limited funds and lack of proper support from local officers have been cited as the important reasons that are preventing filmmakers from coming to this region and reviving its culture. TheBergen County Film Commission is a volunteer group that was set up by the Bergen County freeholders in October 2007, for encouraging filmmakers to come to the county and make more films. However given the current economic crisis, officials are doubtful of whether the move would serve any good. On the contrary, some officials also state that movie making can create jobs for Bergen County residents and bring in the much needed money. But with its limited powers, the commission has been unable to raise any funds for the creation of studio space. Also an unattractive film incentive package at the state level is a major roadblock for the film making industry. Officials from Bergen County add that filmmakers must finance their studio spaces while the role of the commission would be only to facilitate the provision of outdoor locations, arrange for police security and get the paperwork done.

Rails, route to higher home values

While housing continues to be at a low throughout America, real estate experts state that select regions like Bergen County continue to offer a favorable housing market. One criterion that continues to keep home values up in a few towns is the presence of a rail station. Studies have revealed that towns with rail stations fare better when it comes to home values. Statistics also revealed that nine out of the top ten housing markets in North Jersey either have rail stations at the heart of the town or are less than a mile away from the closest rail station. Studies also showcased that homes within walking distance to a rail station sold five percent more than places where people needed transport to reach the station. For towns that do not have rail stations, rezoning properties that encourage mixed use development can work well to attract home buyers. While its not enough to have just a rail station, it is an important factor that makes many buy a home in such towns.

High taxes in Bergen County

While real estate properties are favorable in the regions of Bergen County and many prefer to buy their houses here, statistics reveal that high property taxes are also from this region. In a report released by the Tax foundation, the top ten counties that pay highest taxes were from New Jersey. This included names of Hunterdon, Bergen, Somerset, Essex, Rockland, Morris, Union and Passaic counties. Among these Bergen County was seen to rank 4th with a median real estate tax paid at $7370. However the list was topped by Westchester County of New York where the median taxes were at $7908. At the bottom of the list was Louisiana where median real estate taxes could go as low as $115. This ranking was based on data from a three year period of 2005 to 2007 from the US Census bureau. The American Community Survey (ACS) data which provides annual estimates will now offer three-year averages also for places where population is over 20,000.

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