Bergen County Real Estate News: May 2009 – Week 2

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

May 2009 – week 2 Issue

Comparing Alpine and Fort Lee, Bergen County NJ
Luxury home listings in Alpine
Tenafly trends in luxury home sales
Repairs along Alpine and Englewood
Events in Teaneck

Comparing Alpine and Fort Lee, Bergen County NJ

Those looking to purchase a house in their dream neighborhood can always benefit from comparative statistics. Here is a comparison between two established Bergen County towns: Fort Lee and Alpine, to see where each stands with reference to diverse parameters. Stretching over 2.50 square miles, the town of Fort Lee comprises of approximately 16,620 households. However the luxury town of Alpine stretches over 6.4 square miles and has only 737 households. This sharp contrast in area and number of Alpine and Fort Lee homes could be driven mainly because of the higher number of apartments in Fort lee and dominances of single-family luxury Alpine homes over large acreages. Also, while the median household income in Fort Lee is at $70,000; Alpine being home to the rich and famous shows a median income at $172,850. The annual residential turnover in Fort Lee is also much higher at 23, while is only 6 at Alpine. Also while Fort Lee has approximately 4400 households with children, the same statistics in Alpine are much lesser at 292.

Luxury home listings in Alpine

Buyers of luxury homes in Bergen County today have many options and diverse price ranges to choose from. One interesting project is the estate manor home in Alpine, Bergen County. Priced at $16 million approximately, this home has seven bedrooms, nine and two half baths and various modern day amenities. The manor also comes with elevator services, high end lighting and security systems and a spacious four car garage. Besides this high end construction, various other luxury real estate listings can be found in Alpine. Most of these single family homes are priced at $6 million to $10 million range, while homes for much lesser or higher prices can also be availed. Another interesting new luxury home in Alpine that has been listed is a large brick colonial that occupies space of 13,500 sq ft and stretches over 2 acres of land. This luxury home comprises of 8 bedrooms and 9 and half baths. Amenities provided in the home include an outdoor pool, spa, theater and library. The home comprises of hardwood floors, finished basement and also a four car garage. Listed at $8 million, this luxury home also comes with a double staircase and whirlpool tub.

Tenafly trends in luxury home sales

Luxury home sale trends are an interesting indicator of the ongoing housing market. While the market is down at many places, luxury housing remains slow and steady like before. In the region of Tenafly, trends were drawn for the two years of 2007 and 2008 to gain a better understanding of the market. Studies indicated that in 2007, approximately 80 luxury market sales were made and luxury properties remained on the market for approximately 120 days. While the average home price stood at $1,616,713, it was surprising to note that Tenafly homes sold well across all price ranges. Thus while there were 12 sales in the $800,000 to $900,000 bracket, approximately 36 sales were noted in the $1 million to $2 million price range. Towards the high end too, approximately 8 luxury properties sold in the $3million to $4 million price range. In the year 2008, trends indicated that the average home price for luxury properties was more or less stable at $1,330,737. On a positive note, 2008 also indicated that homes stayed on the market for lesser number of days (109 days). Also approximately 53 home sales were noted to be made. Trends indicated that while 15Bergen County homes sold in the $800,000 to $900,000 price range, 21 homes sold in the $1 million to $2 million price range. Approximately 2 home sales were also noted in the $3 million to $4 million range.

Repairs along Alpine and Englewood

Owners of luxury Alpine real estate faced some inconvenience as a rockslide barred the usage of a four mile stretch on Henry Hudson road. The rockslide that took place in the first week of May 2009 caused the area to be cut off from regular use. Repairs in the region were pending for a long time, and thus the sections of the road in Englewood and Alpine have been closed down for reason cited as automobile traffic pending repair. While the four mile stretch of the road will remain closed till repairs are complete, plans are on to keep it open for certain daylight hours so as to cause minimal inconvenience to traffic. Regions of the park and developed area will also be accessible. As this has been regarded as an emergency situation, a website catering to updates on the ‘hours of operation’ has been set up at www.njpalisades.org/hours.htm. This site gives update information on the open hours when different sections of the road can be accessed. Details include access hours to Fort Lee historic park, Kearney house, Palisades Interstate Parkway and also picnic areas.

Events in Teaneck

Teaneck home owners and residents can now participate in the upcoming event on Tai Chi. As a form of moving meditation, this art uses simple and gentle movements that help to align the body with the mind and soul. Conducted on Wednesday, May 20, 2009, this meditation is suitable for people across all ages and health conditions. It is also said to have beneficial effects of increasing energy, decreasing blood pressure and strengthening bones and muscles. Those interested can contact the Puffin cultural foundation in Teaneck or avail more details at 1-877-HOLYNAME. Also while plenty of other events are being organized in Teaneck, one that deserves special mention is the ‘America’s white table ceremony’. Hosted at the Heritage Pointe of Teaneck, a full-service independent residence for seniors, this event will honor the men and women of the armed forces. Organized on Friday, May 22, 2009, the event will also include students from the Thomas Jefferson Middle School of Teaneck as part of intergenerational program.

Buy a Home in Bergen County

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• When Selling a Home

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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.