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October 2010 – week 2 Issue
Luxury Homes Reduce Prices
Why Home Buyers are Hesitant
Events Across Bergen Towns
Community Center of Bergenfield Debated
Town of Clifton Offers Great Living
Bergen County real estate is now seeing realistic price changes in luxury homes. As per real estate experts, houses in the upscale neighborhoods had for long remained unaffected by the financial crisis. However new developments show that many homeowners of luxury homes in luxury neighborhoods are also reducing prices to attract more buyers. The downturn has affected all Bergen County towns with luxury houses and high prices like Alpine, Teaneck and Tenafly are affected. Other towns that have seen double figure drops are the towns of Closter, Demarest, Englewood Cliffs and Norwood. These price reductions have helped and proven attractive for various home buyers who are now sealing the deal on homes. Many buyers who had till now waited, are closing in on home deals. While the market is comparatively lucrative, things are not quick to improve. The main drawback is that even though home sellers are reducing prices, it is today difficult for buyers to qualify for loans as banks have tightened the process. The market thus continues to be slow, but realtors are hopeful that the scenario will improve.
While the housing market offers a range of luxury homes in attractive prices, many home buyers are still waiting and watching. While the reasons vary from buyer to buyer, real estate experts state that there are a few primary causes. For one, homes for sale are not often priced right. Structural repairs that cause buyers to spend more are another drawback. Some home buyers also find it difficult to avail home loans as the banks have tightened their loaning process. The downturn of the economy also led many towards job losses which translated in tight finances. Finally, many other buyers are waiting to sell their existing homes before they can buy elsewhere. Most buyers continue to test the market, check out various homes rather than just buy the one they like. Many others also wait for home rates to fall further before sealing the deal. Few are also waiting for more government incentives that can make their home deal sweeter. However experts state that buyers and sellers need not despair. The economy is improving albeit slowly and with the right pricing and proper advertising, homes can be still sold.
The luxury town of Alpine regularly conducts events for its residents. In latest developments, the Alpine Church hosted its annual ‘Alpine Community Church Harvest Bazaar’. This annual fall bazaar attracted various residents and their children, who enjoyed the many items on display. Health related events were conducted in the town of Englewood on October 20, 2010. Under their ‘Integrative healing for cancer’ program, experts from the center of integrative healing invited cancer patients and their families to the Berrie Education Room at the Englewood Hospital and Medical Center. Issues relevant to self care with breast health were dealt on October 21, 2010. In another event, conducted by the Dearheart Charitable Foundation, Inc. and Gilda’s club Northern New Jersey, funds will be raised on October 22, 2010 for individuals with cancer. The event would be held at bergenPAC and would be followed with a concert by the legendary Johnny Mathis. In the town of Tenafly, residents can enjoy the C.A.T.s casino night which would be held on October 22, 2010. Organized at the Clinton Inn hotel, participants can enjoy complimentary wine and also a hot buffet. The costs for this event are $70, which would go to benefit C.A.T.s activities.
Community Center of Bergenfield Debated
The Bergenfield Community Center may soon receive the green light after the council at Bergenfield voted to hire an architect for drawing up the plans. The architect would also provide an independent cost estimate for the structure. The proposed center has been under constant debate. The community center building fund committee inc. has been raising funds for the structure for the past decade. This committee proposes that the center be constructed in Memorial field to give more indoor recreation space and space for senior citizens, recreation and after school programs. The issue of contention is the usage of funds. For one, the committee seeks that the borough bond funds for the construction. While $600k had already been bonded in 2005, the funds were never spent. A property tax revaluation around the same time caused uproar amongst people and the plan for the center was postponed. The construction plan which seeks $2.6 million in funds is also criticized for its cost. Residents state that it would be too expensive to build and operate. However borough officials feel that such a center would add value to the town and the lives of its people.
Town of Clifton Offers Great Living
Residents of Clifton note that the town has many desirable attributes, making it a wonderful place to live in. For those planning to purchase a home, the town offers many great amenities and an even better neighborhood. For one, the neighborhood of Clifton is considered to be safe with a very low crime rate. Secondly, conveniently located near highways and residents can easily commute to major cities or nearby towns. A direct train to midtown, New York City is also available. The town boasts of 37 parks and a variety of other recreational activities. For families with children, Clifton has outstanding schools too as well as an impressive array of extracurricular activities. It also has many centrally located shopping centers making things easily accessible for its residents. For those seeking entertainment, the town has a skate park, two movie theaters and many dining establishments. In regards to real estate, the town boasts of a range of homes including town houses, condominiums, single family homes, multifamily homes and rentals.
Buy a Home in Bergen County
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