The Bergen County Homes Blog

Credit Suisse Bank has a really neat way of looking at the local housing market – they send out a monthly questionaire to top real estate agents on over 40 housing markets in the US.  As one of the agents surveyed by Credit Suisse, I get the these reports and find them to be very valuable.

The Credit Suisse  “Monthly Survey of Real Estate Agents”  for the New York – Northern New Jersey area is really quite accurate. It found that January had an inventory build up which put pressure on pricing.  No doubt the 7 major snow storms we had then caused many buyers to stay home.  However, concerns over jobs and year end bonuses that were less than in the past also had an effect.  The sum total was pressure on pricing and homes on the market longer. 

At the same time, agents were seeing signs of pent up demand, frustration with renting and fear of higher interest rates.  56% thought the activity level was more than expected, 31% saw it as what they expected and only 13% saw activity as less than expected.   

Near term prices will soften a bit more but as the weather changes, so will the mood of many buyers.  Halfway through February, I can report that activity has definitely increased.  If you look at the activity ratios of a few towns, you’ll see they’re under or just over 5 to 1 which is great:

Tenafly is 4.3 to 1, Cresskill is 4.2 to1, Teaneck is 6 to 1,  Dumont is 4.3 to 1, Englewood is 4.8 to 1 , River Edge is 2.9 to 1 and Oradell is 3 to 1.

Buyers are snapping up the bargains that are now out there and are locking in interest rates as soon as they can.  Without snow and ice to slow things down, the real estate market will be very active this spring.

If you’re in Bergen County next Saturday, come to the Bergen County Zoo and enjoy a special day there – it’s the zoo’s 50th anniversary.  To celebrate, the zoo is offering free admission to all Bergen County residents from 10 am to 1 pm on Saturday August 14th.  Non residents will have a small fee.

With over 500 animals, a train, carousel, and pony rides, the zoo is a favorite spot for families.  Over 250,000 people visit the zoo annually and there are educational programs and activities all throughout the year for adults as well as children. 

During the summer the zoo has 3 live animal shows daily in the amphitheater and a unique exhibit called the Budgie Encounter.  Summer months also host Zoo Camp for children from 5 to 15.  Zoo Camp is a popular one week program that is always sold out. 

Located at the north end of Van Saun Park, the zoo is bordered by Paramus and River Edge.  However, people from every town in Bergen County come to the zoo so it doesn’t matter if you live in Tenafly, Dumont, Cresskill or River Vale - no matter where you are here, the zoo is a “must go” location and, if you can’t go to the zoo, the Bergen County Zoo will come to you.  The zoo has special programs for schools, organizations and senior living facilities too.  You can even book a birthday party at the zoo!

So come join us on the 14^th and help celebrate the Bergen County Zoological Park.