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June 2010 – week 1 Issue
Home Sales Spruce Up
Alpine Home Listed as Second Most Expensive Listing in Nation
Events in Teaneck, Bergen County
Cost Cutting Measure in Cliffside Park
Centuria Faces New Troubles
In positive developments, real estate experts of the American market reported that the housing market was now showing signs of rebounding. Many realtors added that the main reason for this rebound was a slowly stabilizing economy. Also the availability of federal tax credit for homes was making it possible for many home buyers to purchase new homes. Low interest rates are another factor motivating many to take home loans and make their dream deals. The approach of spring, the official season for home sales also showcased a rise in the selling and buying activity. The above listed factors were cited as the main reasons for the housing market recovery. While these indications mean good business for many, buyers and sellers must still exercise caution. While banks give low interest rates, buyers may need to make large down-payments. Also, the interest rates may rise with time, a factor that needs to be considered. Comparing various homes and buying through trusted sales people can also help.
Alpine Home Listed as Second Most Expensive Listing in Nation
The luxury market of Alpine real estate continues to rise and shine as many luxury Alpine homes continue to make headlines. The latest amongst these is a mansion that stretches over 30,000 sqft, which is listed at a record asking price of $68 million, one of the highest price tags in the country today. This large mansion comprises of a movie theater, an indoor basketball court and also garage space for 11 cars. It also has 12 bedrooms, 19 bathrooms, tennis courts, wine cellar, elevator and a pool with a cabana. Better known as the ‘Stone Mansion’, this large luxurious home has been listed amongst the top 12 most expensive listings of the nation. It was being constructed by real estate investor Richard Krutz who planned to live there with his wife Patti. However, as the design improved with larger and more luxurious rooms, the couple decided that, being empty nesters, the house was just too big for them. Also with the housing market at an unpredictable turn, they decided to list the house, and it is attracting the interest of many affluent buyers. Besides excellent design, high end security and luxurious interiors, the house is located in an affluent neighborhood, close to New York. The property was purchased by Krutz from the previous owners of the 60-acre Frick Estate. The region still has the original 1942 model Frick house, which along with the adjacent 27 acres is worth $57 million.
Events in Teaneck, Bergen County
As the month of June begins, residents of the various Bergen County towns, plan on which events to attend. We bring to you some of the best happenings across the various towns. The Heritage Point of Teaneck will be conducting its Memory Walk Networking event whereby participants will learn about what these events mean. Information on area memory walks, method of registration and how to start family/business memory walks will be provided. The event will be conducted free of cost and will be open to the public. Refreshments will be provided and information on Alzheimer’s disease will be provided on June 8, 2010. On June 16, the organization will also conduct a free seminar on Medicaid Changes: The approaching storm. This free seminar can be attended by all social workers in the area. Participants can also get two Continuing Education Units (CEU) credit hours for attending the programs. Certificates will also be provided. Pre-registration would however be required for the event.
Cost Cutting Measure in Cliffside Park
The borough of Cliffside Park is now seeking novel and effective ways to save energy and cut down operating costs in the region. In this regard, the borough council of Cliffside Park passed a resolution which authorized its new contract with Gexa Energy. The latter is an energy service provider who will provide energy for a lower price per kilowatt hour. As per estimates, this will help the borough save approximately $30,000 after a period of 34 months. Energy is a major component of expenditure, and payment of utility bills often sums up to large amounts. Through this move, officials opine that they would be able to provide high quality service to residents of Cliffside Park, and reduce expenditure at the same time. With Bergen County homes and towns still reeling under the affect of the financial crisis, novel ways are being adapted to help reduce costs, help the environment or conserve.
While Fort Lee selected a developer for its long stalled Centuria project, all is still not going well with it. In new developments, a rejected developer sued the borough, stating in his case that the selection process was illegal. His case also added that rules had been manipulated in order to suit local developers and also did not comply with borough regulations. He also added that the process violated the state housing law. The case was so filed by Tucker Development and Acquisition Fund in the Superior Court of Hackensack. The suit which is 57 pages long cites many issue and also names the Mayor Mark Sokolich, the borough planning board and the borough council. Fort Lee Redevelopment Associates, the organization that won the project has also been named in the suit. SJP Residential Properties and Palisade Financial who are partners to the Fort Lee Redevelopment Associates have also been mentioned. The suit states that the organizations have violated state municipal land use law, local redevelopment and housing law and also erred by naming Tucker’s property as blighted. Tucker had purchased the western half of the property and its plans were to develop solely that portion. However despite submitting proposals that matched the borough’s requirements and adding the changes they needed, the borough had not conceded to Tucker’s proposal.
Buy a Home in Bergen County
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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.