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RussianBergen county news with an emphasis on aspects affecting real estate, residency and community issues.
Bergen County Housing
Bergen County rental market picks up
Bergen County Gangs
Englewood chose nature reserve over school
Bergen County’s food goes Polish
After the prices for homes rose through the decade, the real estate bubble is slowly coming down. This year’s trends show that housing prices will remain stable and may also come down in some places. This came through in the ‘State of the Nation’ housing report, which is released every year. This year, the report was released in the second week of June 2007, and it indicated that while home prices would be fixed or reducing, buying homes at the present rates could still be a difficult proposition for many Americans.
The report also indicated that the housing boom that began in 2001, stabilized by 2006 and through these years, activity in purchasing houses and new constructions has gone down considerably. This decline in construction activity, especially housing has seriously affected the economy of the nation. Spokespersons from the organization indicated that given the conditions, the housing market could be in the slump for a long time to come.
Bergen County rental market picks up
Not all news is bad news and if the single family housing market in Bergen County and parts of New Jersey has stagnated, then the market for renting apartments is picking up fast. As more people grow wary and opt for rented homes than purchasing houses, the rental market in Bergen County is fast gaining ground. Also, as people continue to be wary of sub prime loans, rental properties are still considered as assets to portfolios and are being picked up by serious real estate investors.
This came through when 68 apartments constructed in three buildings in the areas of Lodi and Hackensack sold in a short period of two months. These two towns have high barriers to entry and with apartment buildings in desirable locations; the deal was profitable for the sellers. Two apartment buildings in Hackensack comprised of 38 units sold for $4.35 million to an undisclosed buyer. These buildings are located at 403 Prospect Ave., and were initially owned by Passaic Prospect LLC, which had managed them for a decade. The 30-unit apartment building in Lodi on the other hand sold for $3.14 million to undisclosed buyers again. This building is located at 11 Massey St. and was initially owned and managed by Chipner Associates for the past 34 years. Both buildings were completely occupied at the time of the sale and the same tenants will continue to live after the sale too.
Residents of Bergen County and the neighborhood are beginning to worry about gang problems. Statistics reveal that over 40% of municipalities in North Jersey face problems from gangs and their activities. Statistics also revealed that as per the police gang report of the year 2004, approximately 17% of homicides in New Jersey were caused due to gangs. Gangs have been growing, and as compared to 16,700 gangs reported in the year 1997, the year 2006 reported approximately 25,000 gangs. While the criteria used for classifying a group as a gang was not clearly defined, what was obvious that the number of gang threats has been growing in communities.
In order to help people and organizations deal with gangs and understand how they operate, a New Jersey Gang Summit Conference was called for at the Brookdale Community College in New Jersey. Officials from various concerned departments participated to address the magnitude of the issue and discussed the various options of action.
Englewood chose nature reserve over school
A resolution has been drafted by the Board of Adjustment to allow a two acre plot of Englewood real estate to be used by the Elisabeth Morrow School.. The area would be used as a nature preserve and as per the decision by the Board of Adjustment; no buildings would be allowed on the plot.
As per the unanimous decision taken on Thursday, June 21, 2007, the board also took into account that no more than six nature walks (under supervision) would be allowed every year. Finally, the school would be allowed to bring the property under its deed. While these resolutions were decided upon, the board is yet to officially vote on the matter. Once the issue regarding the nature of the neighborhood, is resolved and officially decided upon, the school will be given the freedom to operate the nature reserve.
Bergen County’s food goes Polish
While fast food is a favorite among many residents of Bergen County, the trend now seems to be shifting towards Polish food. Foodies explain that preparing Polish food is quite the opposite of fast foods and meats need to be cooked on a slow fire. However the food is inexpensive and is given in large portions, making it an easy option for people who are looking for food that is filling yet cheap. An entire meal comes for $5, a main reason why thousands of people opt for it every week. Take away options are also available and thus people are choosing for Polish food instead of Chinese or Pizzas.
Surely, this trend has been the major driving factor enabling many establishments to add Polish recipes to their menu cards or to open new Polish food joints altogether. A few of the examples of such takeouts include the Market Street in Elmwood Park and a takeout joint in Clifton. The Golden Eagle and Piast in Garfield are also well known for their Polish food. Most of these joints also stack Polish grocery items for those seeking to cook at home. Takeaway food has become a growing trend and Polish food seems to be tickling many tongues.
Buy a Home in Bergen County
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