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January 2011 – week 2 Issue
Events in Tenafly and Englewood
Bergen County’s 2010 in Review
Alpine Road May Get Repaired
Real Estate Predictions for 2011
Luxury homes in Edgewater
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Events in Tenafly and Englewood
Various events are lined up through January for residents across various Bergen County towns. In the town of Tenafly, the series of ‘Great New films that you may have missed’, showing since October 25, 2010 will come to a close on January 10, 2011. The series will conclude with an endearing comedy, ‘The Answering Man’ on 10th January. On January 8, 2011, the Kaplen JCC on the Palisades will host the Thurnauer Music Society’s 2010-2011 concert season. The program will start with a pre-concert talk at 7pm. It will be conducted at Eric Brown Theater of Kaplen JCC and individual tickets can be purchased for $16 for members and $20 for non members. Besides Tenafly events, a range of activities are also lined up for residents of Englewood. The Flat Rock Brook Nature Center is hosting 45-minute programs designed for little children. Noted as the Winter Toddler Times, these sessions include story time and interactive activity. Other events being conducted at the Center include big kid adventures where each session includes a natural science themed story and outdoor hike. Pre-registration is required for all these events.
Bergen County’s 2010 in Review
The past year was an eventful one for Bergen County and brought in a range of developments for its various towns. In the region of Cresskill, President Obama made a visit on October 6 to speak at a fundraiser. Many residents lined the streets to catch a view of their president. In the town of Dumont, borough officials decided that the twin-boro fields which had been closed on accounts of contamination would remain so, as experts bring down the levels of groundwater contamination in the region. In the town of Edgewater efforts are on to further work for the Hudson River Waterfront walkway, which was approved by the county’s planning board in December. Residents in Englewood defeated the Englewood school budget which otherwise would have brought in a tax levy of $48 million. In Fort Lee, the borough council hired the Fort Lee Redevelopment Associates, to redevelop a 15.7 acre property into a mixed use hub. It was a remarkable year for Teaneck also as it got its first ever Muslim mayor, Mohammad Hameeduddin while his friend, Adam Gussen, an orthodox Jew became the deputy mayor. Plans to bring the rail service to homes in Tenafly continued to create a stir, as many residents opposed the idea.
Residents of Alpine can now enjoy better transport facilities as efforts are on to obtain financing for repairs at Anderson Avenue. This is reportedly one of the worst roads in town and can get very challenging for motorists. Experts added that repairs were necessary here, as it was an important road connecting the towns of Closter and Alpine. The road is a big one and is commonly used by motorists from Alpine, Closter, Norwood and Northvale. Funds for its repair are being sought from the State department of transportation. Once the funds are obtained, the road will get a facelift and will require resurfacing, whereby it will be torn down and then repaved. Applications for its repairs had been sent to the Department of Transportation last year, but were rejected. Officials hope that they will receive funds in this year. While most officials are in favor of the repairs, few are skeptical that once the road is repaved and becomes smooth, issues of speeding on it may crop up.
Real Estate Predictions for 2011
As a brand new year kicks off, real estate experts predict that this year may bring in only little respite for the housing market. On the brighter side, the housing market will ring in low mortgage rates, reasonable home prices and improvement in the job markets. The price of housing has gone down by 29% across the nation, and may fall further by 5% to 7% in 2011. Mortgage rates that were at a record low in 2010 are expected to stay so through 2011. Though they may rise slightly, rates will remain below the 6% level. However, along with these strong positives, the negatives loom large too. These include a slow job retention market, foreclosures and tight credit. Unemployment rates that stand at 9% will continue to stay so through this year as well. These negatives tend to bring down the confidence of home buyers and may prevail over the major part of 2011. It is only when home buyer confidence returns that they will purchase homes and the market will thus improve. As per experts, this is only to happen towards the end of 2014.
Luxury homes continue to present be in the Bergen County real estate market. Even with the recession, many of these homes still have a fair share of buyers and continue to attract attention. In the town of Edgewater, for example, Luxury Vella Townhomes – now on the market – offer just the kind of home many luxury buyers are seeking. The homes are noted to be selling quickly and currently only three of these remain on the market. Situated overlooking the Hudson River, these homes offer good sophistication, great views of New York and also new standard for luxury living. These are multi-level homes and comprise of three and four bedroom units. These units also boast of private elevators, individual rooftops and glass enclosed solarium. Other attractions include its Brazilian cherry hardwood floors, granite kitchen countertops and limestone baths. Ground level also has a two car garage and a private community swimming pool. Each home is priced at approximately $1,495,000. The houses boast of a sleek, unique and international design as compared to typical brick and brownstone designs.
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