Bergen County Real Estate News : October 2007 – week 3

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

Luxury housing in Bergen County
Healthcare hearings in Bergen County
New building makes homes affordable in Cliffside
Buy a Home in Bergen County

Luxury housing in Bergen County

Buying homes in Bergen County has always been a good investment, state many residents and new home buyers. Many continue to look for housing apartments that suit their pocket and tastes, and when the deal is right it is sealed. One luxury housing complex that has attracted many is the Peninsula in City Place in Edgewater. This complex has approximately 201 apartments that have been converted into luxury condominiums by the Savanna Partners of New York. Already 40% of the apartments have been sold and buyers interested can contact the developers as soon as possible to invest here. The housing in Peninsula has been priced at $400,000 for low end housing to approximately $1.3 million for the larger homes. The sizes of the apartments are seen to range from 837 square feet to 1698 square feet. The neighborhood is reported to be classy too with premium retail outlets, gymnasium, spa and outdoor dining all located nearby.

Healthcare hearings in Bergen County

Bergen County is home to a variety of people and residents live in houses that range from middle class apartments to high end luxury homes. With the highest costs of living present in most regions of Garden State, life is often difficult for the poor who have little access to healthcare facilities. Statistics from a study also revealed that at a minimum wage, a person needs to put in approximately 120 hours of work in order to pay the market rent for a two bedroom apartment. These issues were put forth by Senator Loretta Weinberg, a member of senate health in Dumont, Bergen County. This statement was issued to denote the committee’s hearing on the efforts of the congress to override President Bush’s veto on the State Children’s health insurance program (SCHIP). Loretta added to say that dissolving the SCHIP program would mean that thousands of uninsured individuals will be left without funds for proper and adequate healthcare.

New building makes homes affordable in Cliffside

A new apartment building constructed in Cliffside Park has made affordable housing possible for many families in Bergen County. Known as the Laurel Gardens, this building is situated on Walker Street in Cliffside Park. This building has come up in the place of an old warehouse and has been constructed by the Madeline group, a non profit housing group from Palisades Park. The building comprises of various condominiums that range from single bedroom accommodation priced at $85,000 to three bedroom accommodation priced at $185,000. The buyers of apartments here were chosen from a lottery of 150 applicants, who met the federal income limits for affordable housing.

The entire construction cost approximately $2.3 million, which was generated from various sources including federal housing grants of Bergen County, Cliffside Park, bank loans and from United Way Bergen. The housing units come with a single bathroom each. Though this is not luxury condos, the owners are happy, with the stone and stucco building which has made the American dream of owning a home possible. True to its name, few buyers were also provided aid by the Bergen County’s American dream project that helps low income working families to buy homes. Under the American dream, assistance of up to $65,000 is provided to low income families towards a second mortgage which needs to be repaid when the house is sold. Also, $1500 is given towards a third mortgage and $2500 is given for closing costs.

Buy a Home in Bergen County

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• Additional Reports
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• Six Ways To Beat The Stress Of Buying A Home
• Different Reasons to Own Your Own Home
• Things You Should Know about Moving
• When Selling a Home

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