Bergen County Real Estate News: July 2009 – Week 2

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

July 2009 – week 2 Issue

Bergen County Towns work to improve neighborhood
People meet housing crisis creatively
Tenants find better rates
Storm hits Cresskill
Housing development in Fair Lawn approved
 

Bergen County Towns work to improve neighborhood

Closter is not just a good location for those planning to buy a house in the neighborhood, but also one that offers benefits. In new developments, the Closter Improvement Committee is making ‘Welcome packets’ available for new residents in the region. These packets can be availed at the Mayor’s office in the borough hall. Various other towns as: Alpine and Tenafly are also working towards improving not just the neighborhood through better amenities and facilities but also through improvements in education, commerce and entertainment. Dumont is thus organizing the ‘Dumont Run for Fun 2009’ as an event to be held on Dumont Day which is being celebrated by its residents on Saturday, September 12, 2009. This event will feature a 5k run and a one and half mile walk for all participants. Besides this there will be a half mile sprint for children aged five to ten years and a one and half mile for children aged 12 and under. These events promise a range of gifts and surprises for participants. Residents can find the entry fee details and other particulars from 201-916-2323.

People meet housing crisis creatively

As the housing crisis continues to grip the various towns of Bergen County, residents are coming up with creative ways to combat it. Foreclosures are on the rise and people are either downsizing to smaller homes or living with relatives to cut costs. Celebrations are also low key and expenses are being kept to the minimum in many cases. While many examples exist of how people are adopting measures to either supplement their income or cut costs, the example of the 55 year actress, Angela Logan of Teaneck is worth mentioning. This actress is baking her way out of the situation that today faces her home. Her apple cakes are well known in the community and this mother of three has spread word across her neighborhood and friends to buy the mortgage cakes. Priced at $40 each, she has received approximately 42 orders till now. In this manner, this dynamic lady hopes to sell approximately 100 cakes by the end of July and raise approximately $2660. This sum will help fund for the initial payment needed to pay the lender under the scheme created to help homeowners in financial distress.

Tenants find better rates

As the housing market continues to be a slow market, and home sellers are finding it difficult to sell homes at prices they like, one segment of people is benefiting from these conditions: renters. Times are tough for everyone and renters are often getting good concessions from landlords and in some cases are also able to pay low rents. Recession across the nation has seen to take its toll on housing and has affected the market for apartments too. In order to cope up with the tough times, many renters are opting for two to three bedroom apartments and are shifting in with extended families in order to cut down costs. As per a survey by the website http://www.rent.com/, the numbers of searches for terms like ‘bad credit apartments’ has also gone up. Vacancies in apartments have also gone up as many constructions that took place during the housing boom are still waiting to be occupied. Renting in the luxury homes market has also gone up and many landlords are offering attractive incentives to lure tenants into their properties. Some that would have initially not allowed pets are willing to do so. Others are cutting down prices, so as not to incur losses that may come if the property stays empty.

Storm hits Cresskill

Residents of Cresskill in Bergen County are still reeling under the affect of the storm that hit the neighborhood in the first week of July. This storm caused strong winds in the region and many trees were uprooted. The storm at Cresskill began at approximately 11:30pm and lasted for half an hour. The storm caused heavy winds and rain and soon the area was strewn with fallen trees, branches and debris. In one case a tree fell directly on to a house, forcing evacuation of the residents. Police officials were on the job till the early hours, helping people in trouble and helping to clear the debris. Power lines were also disrupted in many areas and the electrical department helped clear it. The Department of Public Works was also at work as it helped clear the debris on roads. The PSE& department members were also seen to be at work after the storm as few gas lines had to be shut following leaks and similar issues had to be dealt with.

Housing development in Fair Lawn approved

As per a new ruling by the state’s superior court judge, the controversial housing development in Fair Lawn may soon become a reality. This development that will come up in the Radburn section of the town will include 200 unit condominiums and also town houses. This ruling came up after a five year long battle that had ensued between the borough of Fair Lawn and the developers Landmark at Radburn LLC. While the borough was trying to block the development stating reasons of high construction density, the private developers finally won the case. However the borough still stands to its statement and officials state that they will pursue other alternatives and not give up. Borough officials added that the development was not apt for the region as it may destroy properties that are ideal as parks. However the developers added that the housing development would address the housing needs of the region. They also stated that the proposal met all conditions set by the state law. The construction would offer a park-like environment, where the residential buildings would surround a centrally located park

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