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September 2010 – week 1 Issue
Alpine NJ – First on Forbes List
Luxury Homes and Interior Designers
Foreclosure Market in New Jersey
Teaneck Township to Work in a Four Day Week Schedule
Events in September
Alpine NJ – First on Forbes List
Alpine in Bergen County has topped the list of most expensive ZIP codes again. As per the recent list released by the Forbes magazine that annually releases the list of the nation’s most expensive ZIP codes, Alpine homes once again stood in first position. At a median asking price of $4.14 million, statistics indicate that luxury homes in Alpine are not just expensive, but home sales are doing well. Standing in second position of the Forbes list is Atherton, Calif., a suburb of San Francisco. While Alpine tops the list, real estate experts state that home prices have shown a decline given the recession. In the region of Alpine for example, home prices were seen to go down by 23%. Through the entire region of America and Bergen County homes also an overall decline of 7% was noted. Other towns of New Jersey that found mention in the top 100 towns list were the towns of Saddle River ($1.7 million), Mendham ($3.1 million) and also New Vernon ($2.1 million). The region of Alpine however has been much ahead in the lead thanks to its luxury manors stretching over long acres and list of celebrity homeowners. As per the New Jersey Multiple Listings Service over 40 properties are still available for purchase in Alpine and this range from decent three bedroom colonials to large parcels of land like the 27 acre Frick estate.
Luxury Homes and Interior Designers
As the financial crisis continues to affect the housing market, the budgets and work scope of interior designers and architects has altered to a large extent. Home designers who initially worked only on high paying jobs and catered only to luxury homes segment now have to revise budgets to suit the needs of financially tight clients. Besides the area of Bergen County which is home to some of the luxury segment, designers across the state are now turning to low cost and unique options. Designers even report that many of them, now with a price control often have to turn to unusual online sources to access materials that make homes novel in design. Many are even opting for ecofriendly options that can reflect the personality of home owners without costing too much. Designers even reveal that few homeowners are opting for cheaper material as compared to previous years when many would not compromise. Statistics also reveal a similar story. As per the contractor search site ServiceMagic.com, requests for interior designing works across the nation have declined by 2% since the same time last year. However all is not lost for today’s designer. Those from the luxury segment, who own luxury homes are still not compromising on quality and are willing to spend making them known as truly ‘trophy projects’.
Foreclosure Market in New Jersey
A decline in home prices across Bergen County towns has not just forced many sellers into hard times, but also forced many school districts to cut down on costs. Also the number of New Jersey homes that were at a risk of being lost in foreclosure were noted to rise drastically in August said a study. As per RealtyTrac, a company that keeps a tab on foreclosures in the region, noted that filings for foreclosure rose by 28% in August as compared to the same period in 2008. The study also indicated that one in approximately 400 New Jersey homes faced some kind of foreclosure threat, be it a bank notice or a delay in mortgage payment. The study also indicated that the government programs designed to help people facing foreclosures, had somewhat slowed the rate of foreclosure. However the rate picked up again, indicating that the programs only delayed the foreclosures but could do noting to sort out the underlying issues. Data from counties however indicated that approximately one in 500 Bergen County homes facing some kind of foreclosure threat. Rates were higher in other regions like Passaic (one in 299 homes), Morris (one in 669) and Hudson (one in 599) were also released to help give an indication of foreclosure activity in the state. While New Jersey can be considered as a difficult market, experts from RealtyTrac indicated that to date Nevada, Florida and California were most troubled with foreclosures.
Teaneck Township to Work in a Four Day Week Schedule
Residents of Teaneck have something special to look forth to as the month of September brings in a host of surprises. What began towards the end of August as a four day working week will continue into September also. As per this program, Teaneck merchants and residents of Teaneck homes will participate in proactive cost savings while also improving customer accessibility. The township also anticipates that these measures will also aid in energy and fuel saving while increasing convenience for the community and reduce overtime. The plan for a four day work week will be applicable only to officials working at the Municipal Building . Work timings have accordingly been revised from 8:15am to 7pm approximately, depending upon the day. Departments that have not been incorporated into the plan and that will operate as per old schedules include the Department of Public Works, Fire Department, Police Department and Recreation Department.
Residents of Bergen County have plenty to look forth to as the month of August rolls into September. For one, it’s time for some of the top restaurants to start their preparations for Restaurant week. Starting October 4th to October 8th and then from October 11th to October 15th, select restaurants in the region will offer a prix fixe three course lunch for $16.95. Dinner will also be offered at a fixed price of $29.95. While this may sound as any other price deal, restaurateurs state that this is much more than that. Prepared and perishable excess food from these chosen restaurants will help feed the hungry in the counties of Bergen, Passaic, Hudson and Essex. This work will be taken up by Table to Table, a community based food rescue program that has helped bring food to the tables of many hungry men, women and children. While no special passes and reservations are required to participate in the restaurant week, experts recommend that it can help to make an advanced reservation. More information on participating restaurants, event details and how you can help can be availed at (201) 646-6954.
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.