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June 2010 – week 3 Issue
Bergen Shows Lesser Home Gains
What Luxury Home Buyers Seek
Alpine School Receives Grant
Events across Bergen County
Website For New Jersey
Bergen Shows Lesser Home Gains
As per the US Census figures released on Wednesday, June 14, 2010, market gains of Real Estate in Bergen County and Passaic County are seen to be growing at a slow rate. These reports showed that real estate in Bergen County grew only by 3.3% as compared to the overall growth rate of 6.3% in the New Jersey region. As per top realtors the main reason for this could be that real estate in Bergen County is currently well developed. With a range of luxury properties options, condominiums, town houses and apartments; the region is already well developed. Also there is lesser vacant space for new constructions. With home sales being low and the after affects of the financial crisis still looming large, many builders are also not venturing into new projects. Many people are also opting to rent a home rather than buy one. Residents of the various Bergen County towns are also seen to venture into remodeling rather than upgrading to a bigger home. While gains in Bergen County were seen to be low, statistics across the region showed that Cape May, Atlantic and Ocean counties had gains of over 10%, mainly because the areas are undeveloped.
The luxury homes market is a special segment in itself and the needs of this segment are much different than that of the average home buyer. For one, real estate experts note that the first question most luxury home buyers ask is the proximity of a house to the major cities of New York and Manhattan. This segment of buyers also expect luxury homes to come equipped with elevators, indoor and outdoor pools, home theaters, tennis courts and even racquetball courts. The main buyers of luxury homes are either athletes, entertainers, entrepreneurs, CEOs and also Wall Street managers. With evolving market conditions, the luxury buyers are also shopping around and comparing homes in various localities before finalizing deals. Many of these buyers are playing aggressive and asking sellers for lower prices on homes.
Residents of Alpine will soon benefit from improved school facilities, as the school may avail of new grants. Developments indicate that the Alpine School District will receive $188,720 from the School Development Authority as Regular Operation District Grant. These state funds will help the school in upgrading its ventilation, cabinetry and electrical systems. School authorities also plan to add individual thermostats to each class, so that the amount of heating or cooling can easily be controlled. This will help teachers teach and students learn in a more comfortable environment. An electrical upgrade to the latest systems that are more energy efficient is also being planned. Cabinets will also be changed as the previous ones are over fifty years old and need replacement. School officials are pleased with the grants and intend to make the changes during vacation time, so that the school timings are not affected.
Residents of Teaneck can look forth to various events planned in the region. On June 25, 2010, the Heritage Pointe of Teaneck will organize a seminar on ‘Creative shopping for good nutrition’. This is part of a series of seminars that are being organized on a range of topics related to good health and nutrition. While most of the seminars cater to the health of old people, the seminar of June 25 will be open to the entire public. Experts state that most buyers do not read labels carefully and often end up purchasing unhealthy food. In the town of Demarest, June 26 will showcase a fund-raising event by the Demarest Fire Department and the Demarest Athletic Association. Titled as the Nifty 50’s Sock Hop Fund raising event, it will showcase the David Christopher Nifty 50’s band. The chosen venue is the Academy of Holy Angels gym and a donation of $75 will be required. Other events include the JLBC Information session, being held on June 30 at Closter Public Library in Closter and the ‘Hands on Pruning’ event being conducted by Backyard Living on June 30, 2010 at Ridgewood.
Residents of New Jersey, who love their state and stand by it, now have a new reason to celebrate. A brand new website titled Jerseydoesntstink.com is fast attracting the attention of its residents. This site has been designed in order to bring together Jersey-loving residents who are tired of hearing negative things about their state. Using this site, readers can thus fight off stereotypes and sound their voices in the online environment. The site also has follow ups on Twitter and Facebook, giving people’ voices much more of the desired visibility. Though recently launched, the site has had approximately 1000 people standing up for New Jersey and also has approximately 1400 fans on Facebook. The founding sponsor for this initiative is High Point, and is supported by seven other corporate sponsors. Besides the message, promotional material like T-shirts, mugs and hats are also being made available for an at-cost basis.
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