The difference between 2009 and 2010 wasn’t much county wide.  According to the New Jersey MLS there were only 58 fewer units (from 7,315 in 2009 to 7,257 in 2010) while the average sales price was higher by 2% to $500,710.  2010 turned out to be a solid year for Bergen County’s housing market.

The truth is that real estate here pretty much stabilized and is poised to move forward in 2011.  Let’s check out a few towns to see how we’re doing on a local level:

Tenafly did very well.  Sales units in Tenafly were down by 8% but the average sold price rose 4%.  Teaneck also turned in a strong performance – units were down 14% and average sales prices were up 8%.  On paper Dumont didn’t do as well with 6% less sales and a 6% drop in the average sales price but a good number of short sales were to blame.  Cresskill has a large inventory of luxury homes so I kept it to $1 million sales.  Through $1 million, Cresskill had 19% fewer units at only 1% less in the average sales price. 

Bergen County beat the ”prevailing wisdom” because of our proximity to Manhattan, excellent schools, good commuting and diverse economy.  While Wall Street and the financial markets do employ many of us, there’s more to the Bergen County job picture than stocks, bonds and trades.  We have 4 major hospital centers in Englewood, Hackensack, Ridgewood and Teaneck employing large staffs of doctors, nurses and all sorts of support systems.  Bergen County is the most populous county in New Jersey and one of the largest in the US with over 900,000 residents. 

With all these advantages, it’s no wonder that things are better here.

  Do you have a dog or just love pets because if you do, you won’t want to miss the first ever Woofstock sponsored by Tenafly’s Pet ResQ Inc. and the Tenafly Chamber of Commerce.  You don’t have to own a house in Tenafly to be part of this fun event – you just need to love animals.  If you have a dog, bring Fido along for the day and be part Woofstock 2010. 

Woofstock will be held from 10 am to 5 pm this Sunday, October 24th,  at the Tenafly Circle Park located at the intersection of Tenafly Road and Washington Street.  Along with the day’s event will be a dog adoption fair where you can find your new best friend. 

There will be a doggy talent show, agility courses, A Strut Your Mutt Costume Parade and training demonstrations for dog owners.  Dogs who are adopted will be professionally groomed by Best of Breed Salon (located in Tenafly).  This all day event has these and other activities planned throughout the day. 

Woofstock 2010 will be a great day for dog owners and anyone interested in man’s best friend.  Pet ResQ Inc is a wonderful organization who’s mission is saving abused dogs and finding them their forever home.  Come out on Sunday to have a great day and support this great organization and just maybe come home with a new family member too!

Everyone wants to know and for good reason – real estate is not only your home, it’s a key part of the economy and it’s very local.  When real estate is good, people go out more, restaurants are busier, life just seems better.   You can feel it when you go downtown or talk to your neighbor.  So, how is the Tenafly market?

Tenafly real estate has stabilized almost completely.   Over all we are moving forward and have been recovering since late last year.

Today, September 18^th, 126 homes are for sale with 18 under contract for a 7 to 1 ratio which isn’t, frankly, great.  Things turn positive at 5 to 1 but autumn traditionally has an inventory buildup.  The question is whether this is of disastrous proportions and the answer is No.

We are on track to have the same number of sales as last year.  Taking it through September 15^th for both years, 2009 had 93 sales and 2010 had 94.  What about the tax credit?  This is the under $500,000 market which was 21% of all Tenafly sales in 2009 and is 20% now (with under contracts).

Average sales prices support positive change too.  Significantly higher, this demonstrates that the product mix in Tenafly tilted toward higher priced homes in 2010.  Through September 15^th the average sales price rose 5% in 2010 to $910,866 from $865,679 last year.   

The heart of Tenafly real estate is the $650-950,000 price range.   The year to year comparisons clearly show how this market has come back.  It picks up again substantially in the important $1-2 million range.  The upper tier looks quiet but it isn’t.  This is luxury new construction and financing for high end new homes was non-existent until recently.   Never doubt Tenafly’s East Hill.  Demand was always there even if financing wasn’t.   Take a drive up Tenafly’s East Hill.   You’ll be amazed at all the high end new construction.  The East Hill is most definitely back.

What about the future?  Clearly Tenafly real estate has stabilized.  The New Jersey MLS inventory of short sales and foreclosures runs at 10-15% so while not terrible, it’s certainly a factor.  This together with job uncertainty will keep pricing pretty even for the next year or two.  Tenafly may experience some appreciation but at anemic levels.  I remain convinced that significant upward movement won’t come before 2013.  For Tenafly, the storm is behind us; we’ll be on calm waters till then and that’s good.

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.

SMA African Art Museum

It is pretty well acknowledged that Bergen County is an extremely diverse, eclectic population, home to many different cultures, races, religions. Here in Tenafly, we are home to the SMA African Art Museum, and it’s a fabulous place to have some fun and celebrate Africa.

Owned and operated by the Society of African Missions SMA Fathers, the museum is located on Bliss Street in Tenafly. It houses collections of masks, prints, sculpture, and fabrics, reflecting a multitude of African cultures. It is one of the few museums in the United States devoted exclusively to African art.

How fortunate we are to have this resource, a windown on the world, right here in Tenafly! Upcoming events include a Festival on September 11, which will celebrate East African culture for the entire family. It’s a great opportunity to have fun and enjoy a great opportunity here at home.

Recently, middle school students from all over northern New Jersey were treated to African and Western music at the museum. They learned dances, tried different instruments, and had a great time. They also were introduced to western classical music at a small concert, and really enjoyed the experience.

Not only is Tenafly a nice place to live, it’s a cultural center. It’s also home to the Thurnauer School of Music at the JCC, a theater company, and many community events at the library. I’ll keep you up to date on the wonderful things happening in the arts.

STEVE HOCKSTEIN/SPECIAL TO THE RECORD

Did you ever believe you would live so close to one of the greatest cities in the world and see headlines like this:

Bear Just “Playing Through” NJ Suburbs

Well, this is what happened here in Tenafly this week, and in the surrounding towns. It doesn’t happen often, but it does happen occasionally that we see wild animals in this beautiful area we live in. The bear is a very unusual visitor, but in Tenafly, it is not uncommon to see deer, and many beautiful birds. You will even see wild turkey strolling through our green neighborhoods on occasion.

We don’t see the big fellows like that young bear very often for the simple fact that we are a community, and wild animals don’t like to get too close to people. But we do live in a place where we can connect with nature, and yet have the benefit of the city close by.

One of the truly great places to learn about all the natural beauty in our community is the Tenafly Nature Center. Stroll the paths, go birdwatching, or visit when they have family hikes organized. It is a great place to relax, and to really appreciate the beautiful world we live in.

By the way, the best thing you can do if you encounter a bear or any wild animal unexpectedly, is to remain calm, don’t run, don’t play dead, and don’t try to feed it.

It seems the bear was lost in Tenafly.   He should know that neighboring Bergenfield High School is the home of the bears!

The real estate market in Bergen County outperformed the national market.  According to the report released this morning by the National Association of Realtors (and which is making headlines throughout the news media), June pending contracts are down by 2.6% from where they were in May.  This is not true for Bergen County.

New Jersey MLS data shows that we had 844 homes going under contract in May and 848 in June.  Where you will see declines are in July and August but this is typical of what happens every summer.  The real estate market is still geared towards the school schedule.  If parents don’t register their children by mid August, their children will miss the first day of school in September.  As a result, parents can’t wait until July to find a home - it’s just too late.  For example, if you bought a home in Tenafly, you would need a minimum of 2 weeks to get your child registered today and 3 weeks is preferred.

Last year July had 139 fewer pendings but this year July is down by 101 so here too we’re doing better.  The bottom line is that real estate is always extremely local.  Despite today’s report from the NAR, the truth is that we’re doing all right.

What could be better than buying a home in Tenafly NJ and taking a walk downtown on a Sunday only to find an amazing assortment of fresh produce at the Tenafly Farmer’s Market?

Every Sunday from May through October, Tenafly NJ residents as well as people from neighboring towns come to the local post office parking lot on Tenafly Road where from 10 am to 2 pm there is a wealth of fresh fruit, vegetables and organic items for sale.  You’ll also find wonderful fresh baked bread, pies, muffins and scones as well as bottled jams and honey.  There’s even farm fresh milk.  Many Sundays local artisans have their crafts on display along with local artists.

The Tenafly Farmer’s Market has become so popular that if you’re coming, it’s best to get there early so you don’t miss out on anything.  Without a doubt, one of the special advantages of owning a Tenafly home is the Sunday farmer’s market.  You can check it out online at http://www.tenaflyfarmersmarket.com

Senior citizens get a lot of breaks in New Jersey; sometimes you don’t even have to be that senior.  Imagine my surprise when I went into the Englewood International House of Pancakes and learned that because I’d crossed the 50 year line I could get pancakes at a discount.  Frankly, being told I get a senior rate at the age of 50 was more than disconcerting!

Property taxes are a major reason why senior citizens sell their Bergen County homes.  The cost of ownership for people who are on a retirement income often becomes a burden they cannot handle.  When they bought their family home many years ago, they had a working income but without that now, it’s just too expensive even when the mortgage is paid off.

Property taxes are a big part of the problem because they often go up every year making it increasingly more dificult for senior homeowners to afford their home.  To help out, the State of New Jersey has a property tax freeze program for those seniors who qualify and the deadline to apply for this has been extended until August 2nd.

Just go to the State of New Jersey’s Property Tax Reimbursement website where you’ll find all the information.  This program, known as the Senior Freeze, stops property tax increases for those who qualify.  As in all things relating to your finances and taxes, I suggest that you contact your accountant for guidance.  You can also call your local Tax Assessor.  But one thing’s for sure – if you’re a senior citizen, you want to check this out before August!