Category: Ridgewood Real estate

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Christie’s Northern NJ Appoints Ferne Lambert as Director of Education

Lambert Ferne

Experienced Real Estate Industry Leader Provides Tailored Training Program to New and Experienced Sales Associates

the staff of the Ridgewood blog

RIDGEWOOD NJ, Christie’s International Real Estate Northern New Jersey is proud to announce the appointment of Ferne Lambert as Director of Education.  Ferne is a highly respected and experienced industry leader with over 35 years of sales and management experience. The company’s remarkable success and rapid growth this past year, notably leading as the #1 Real Estate Brokerage in Northwest Bergen County in New Jersey Year-to-Date in 2021 (by dollar volume per NJMLS 600 area), paved the way for Ferne to educate and train new licensees in today’s fast-paced real estate market as well as coach experienced agents, helping them to elevate their business to the next level.

Continue reading Christie’s Northern NJ Appoints Ferne Lambert as Director of Education

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Ridgewood,Glen Rock and Ho Ho Kus all Make the NICHE 2017 100 Best Places to Buy a House list

Ridgewood Realestate

file photo

June 7,2017
the staff of the Ridgewood blog

Ridgewood NJ, Ridgewood ,Glen Rock and Ho Ho Kus all Make the NICHE 2017 100 Best Places to Buy a House list.

The NICHE 2017 Best Places to Buy a House ranking provides a comprehensive assessment of the housing and community of an area. This grade takes into account key factors of a location’s housing market, including home values, taxes, crime rates, and quality of local schools, in an attempt to measure the quality and stability of an area’s real estate market.

In Bergen County  Ridgewood neighbor Glen Rock fared best with a rating of 17, Ho Ho Kus  a 55, Ridgewood  66, and Fairlawn 87. Other Bergen County towns who ranked well Haworth 24, Demarest 29, Ramsey 32, Mahwah 42, Oradell 66 , and Allendale 93.

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Glen Rock Makes the List of 19 hottest real estate markets in N.J.

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A revival in Bergen County : After seeing its growth stagnate in the 1980s and 1990s, Glen Rock has been steadily gaining population in the 21st century. In a few years, it could near its peak population of 13,000, set in 1970

The 19 hottest real estate markets in N.J. are surging

Updated May 31, 2017
Posted May 31, 2017

Stephen Stirling | NJ Advance Media for NJ.com

Time to separate the wheat from the chaff.

New Jersey’s real estate market has been fairly fractured since the Great Recession ended in 2009. A slow recovery has meant many are still waiting for their property values to recover, but that’s certainly not true across the board.

A handful of towns are seeing incredible demand and, combined with low inventories, prices have been skyrocketing in recent months.

The 19 towns below all, according to real estate tracking giant Zillow, have seen their median home values peak at the start of 2017. We used Zillow’s own Home Value Index for our analysis (methodology here) and excluded shore communities where there is a strong secondary home market.

Each of these towns stand a head and shoulders above New Jersey’s statewide price growth during the last year and some have seen home values soar to remarkable heights.

https://www.nj.com/news/index.ssf/2017/05/the_hottest_real_estate_markets_peaking_right_now_in_nj.html

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Market for New Jersey Industrial Space Continues to Sizzle

Serendipity Labs Opens Downtown Ridgewood, Coworking Space

Most of the big lease deals are for locations in central part of state

By
Keiko Morris
May 21, 2017 11:27 a.m. ET

New Jersey’s industrial market continued to show strong growth in the first quarter, as its vacancy rate reached its lowest level in nearly 17 years, according to a report from real estate services firm Transwestern.

https://www.wsj.com/articles/market-for-new-jersey-industrial-space-continues-to-sizzle-1495380426

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Airbnb rentals in New Jersey may be taxed by next year

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file photo of Ridgewood Real-estate

By Michael Symons May 10, 2017 5:33 PM

Home-sharing rentals may be taxed in New Jersey beginning next year, under a bill with the blessing of Airbnb that took another step through the Legislature on Wednesday.

The bill would impose the same sales and lodging taxes that hotels and motels already collect. In some municipalities, that adds up to 18 percent, said bill sponsor Assemblywoman Annette Quijano, D-Union.

“There are many reasons why this bill should be enacted. In a nutshell, it’s really about fairness,” said Quijano.

“The way our laws are right now provide a considerable disadvantage to those who already run hotel and motel businesses and are a considerable hurdle to those contemplating investing in our hotels and motels in this state,” she said.

“I don’t believe that all those who use Airbnb or other services like it are necessarily choosing it because they love the idea of home sharing over a hotel or motel,” Quijano said. “I believe much of the choice is driven by the fact that home sharing services have a huge competitive advantage. They don’t have to pay taxes.”

Read More: Home-sharing rentals in New Jersey may be taxed by next year | https://nj1015.com/airbnb-rentals-in-new-jersey-may-be-taxed-by-next-year/?trackback=tsmclip 

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Beautiful Crest Road Tudor Most Expensive Listing In Ridgewood

Crest road tudor ridgewood

May 2,2017
the staff of the Ridgewood blog

Ridgewood NJ, Pam Christian, Keller Williams Village Square Realty has listed the most expensive house in Ridgewood .This $4.6M Home Is Most Expensive Listing In the Village. The home is a beautiful 6 bedroom, 7 baths  ,6,716 sqft Tudor home on one of the most desirable streets in Ridgewood.The magnificent six-bedroom Tudor offers unparalleled views of Manhattan , once graced the pages of Architectural Digest thanks to the handiwork of famed decorator Victoria Hagan.

The stately and elegant, yet comfortable, this premier residence features rich architectural details throughout and impressive amenities including a luxurious master suite, four additional en suite bedrooms, a state-of-the-art kitchen with butler’s pantry, three fireplaces, a gym, wine cellar, surround sound both inside and outside the home and so much more. The 1.38 acres of impeccably manicured grounds are equally impressive, boasting an expansive stone patio; heated pool with retractable cover; pool house with kitchenette, full bathroom and laundry; and a three-car heated garage. The home truly is a one-of-kind masterpiece that must be seen to be believed.

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New Jersey Office Market Slump Worsens

Serendipity Labs Opens Downtown Ridgewood, Coworking Space

Landlords look to repurpose aging corporate campuses as tenants demand amenities and proximity to transit

By
Keiko Morris
April 23, 2017 8:00 a.m. ET

Office leasing in New Jersey hit its lowest levels in years in the first quarter, as aging, underused buildings and corporate consolidation weighed on activity, according to market reports and brokers.

https://www.wsj.com/articles/new-jersey-office-market-slump-worsens-1492948802

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Why Americans have stopped moving

for sale Ridgewood_Real_Estate_theRodgewopodblog

photo by Boyd Loving

By Kyle Smith

April 15, 2017 | 12:10pm

Americans are stuck. Locked into our jobs, rooted where we live, frozen at our income levels. More than at any previous point in our history, we’ve stopped moving — whether moving up the income ladder or packing up a truck and finding another home. We’ve grown ossified, rigid.

The flip side is that we’re stable. If we weren’t so content, we’d be more willing to gamble, to shake things up, to start a new firm or join one. Maybe we’re fine where we are. But maybe this period of stasis cannot last. Maybe it even portends a period of massive disruption.

https://nypost.com/2017/04/15/why-americans-have-stopped-moving/

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How the estate tax exemption works

old paramus reformed church

By Karin Price Mueller | NJMoneyHelp.com for NJ.com
on April 11, 2017 at 8:49 AM, updated April 11, 2017 at 10:58 AM

Q. If one has an estate that exceeds the exemption limit, is the tax on the amount above the limit or on the entire estate? I’m confused.
— Trying to get it

A. The estate tax can certainly be confusing.

A federal estate tax is imposed only on that portion of the estate’s value that exceeds the exemption amount, said Shirley Whitenack, an estate planning attorney with Schenck, Price, Smith & King in Florham Park.

For 2017, the federal amount exempted from death taxes is $5.49 million, and the top federal estate tax rate is 40 percent, she said.

The answer is more complicated for New Jersey’s estate tax.

https://www.nj.com/business/index.ssf/2017/04/how_the_estate_tax_exemption_works_biz_brain.html#incart_river_home

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Ridgewood Top 5 Biggest Drops in Housing Inventory in New Jersey

ridgewood real-estate

The 5 most competitive places to buy a home in New Jersey

By Carla Astudillo | NJ Advance Media for NJ.com
on April 11, 2017 at 7:20 AM, updated April 11, 2017 at 4:39 PM

New Jersey buyers beware – it’s a competitive time to search for your dream home.

Housing inventory data for nearly 500 New Jersey zip codes from Realtor.com provided by the Associated Press shows that 77 percent of them saw a plunge in the number of homes on the market in February of this year, compared to the same time last year.

That means it’s mostly a seller’s market in the state.

https://www.nj.com/news/index.ssf/2017/04/five_of_the_worse_places_to_buy_a_home_in_new_jers.html#incart_river_home

LOCALITY
COUNTY
ZIP CODE
PERCENT CHANGE SINCE LAST YEAR
MEDIAN LISTING PRICE
1 Buena Atlantic 08310 -59.1%

 $219,900
2 Ridgefield Park Bergen 07660 -55.4%

 $298,500
3 Glen Ridge Essex 07028 -53.6%

 $558,300
4 Ridgewood Bergen 07450 -48.0%

 $899,000
5 Township of Washington Bergen 07676 -45.5%

 $574,500
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Demand for housing in New Jersey on the rise — It’s a seller’s market

ridgewood real-estate

By David Matthau April 11, 2017 3:53 AM

The New Jersey housing market, which has been depressed since the Great Recession, is showing signs of firing up.

According to Rob Dekanski, a Realtor with RE/MAX 1st Advantage, inventory levels in the Garden State are now lower than they’ve been in the past 18 years, which is very good news for people selling their homes.

“There’s less to choose from and buyers are fighting over less inventory, enabling the sellers to ask for a little bit more money,” he said.

He estimated that depending on the specific town and the quality of the school district, homes are selling for 2 to 10 percent more than they were a year ago at this time

Read More: Demand for housing in New Jersey on the rise — It’s a seller’s market | https://nj1015.com/demand-for-housing-in-new-jersey-on-the-rise-its-a-sellers-market/?trackback=tsmclip

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The “roach” approach: Developers swarming over emerging neighborhoods

CBD high density housing

From Queens to Fort Lee, developers are targeting “affordable” price points: panelists

By E.B. Solomont | March 15, 2017 03:00PM

What’s a New York developer to do when renters are priced out of neighborhoods? Turn to emerging areas in Queens, the Bronx, New Jersey, Westchester and Long Island.

“We’re like cockroaches, we try to figure out what’s needed next,” said Jan Burman, president of Long Island-based Engel Burman Group, a developer of assisted living properties.

He was speaking Wednesday at a panel on residential real estate trends hosted by the newly-launched Fordham University real estate program. Moderated by Madison Realty Capital’s  Michael Stoler, Burman was one of 10 panelists assembled, along with Madison’s Josh Zegen; Benjamin Stacks of Capital One Bank; RXR Realty’s Seth Pinsky; KABR Group’s Kenneth Pasternak; Kushner Companies’ Laurent Morali; Jeff Levine of Douglaston Development; SJP Residential Properties’ Allen Goldman; the Beechwood Organization’s Steven Dubb and TD Bank’s Roy Chin.

“Prices have increased dramatically in core areas, pushing people out to areas that were formerly peripheral,” said Pinsky, who is heading RXR’s investment in “emerging markets” like New Rochelle and other suburban enclaves. “If we want to get ahead of this problem, the ultimate solution is to have supply meet demand.”

https://therealdeal.com/2017/03/15/the-roach-approach-developers-swarming-over-emerging-neighborhoods/

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The Most Expensive Zip Codes in the State of New Jersey

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file photo by Boyd Loving

March 4,2017

the staff of the Ridgewood blog

Ridgewood NJ, At the end of last year, PropertyShark compiled a list of the most expensive zip codes in the U.S., and 2 New Jersey zip codes made the cut: Alpine’s 07620 landed the 44th spot on our list, and Short Hills’ 07078 landed the 88th. This year, PropertyShark took a closer look at the market and round up the most expensive zip codes in New Jersey.

The top three zip codes on our list will come as no surprise; the most expensive zip code on our list is occupied by Alpine’s 07620. with the medium price of $2,050,000. The next zip code in the state is Short Hills’ 07078, with a median home price of $1,430,000. The third priciest zip code on our list is Stone Harbor’s 08247, with a median home price of $1,110,000.

Ridgewood’s 07450 came in 26th with the median price of $712,500 with 350 real-estate transactions.

Hoboken’s 07030 ranked 33 but the small city had the largest number of residential transactions in the past year, with 830 sales closed here in 2016, at a median price of $685,000.

The methodology:  In order to determine which were the most expensive ZIP codes in New Jersey, PropertyShark looked at all residential transactions closed in 2016, taking into account condo, co-op, single- and two-family homes. All package deals were excluded.

Check out the full list of New Jersey zip codes below:

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New Jersey Home Sales Surged in January

ridgewood real-estate

By Josh Barbanel Published March 01, 2017 Economic Indicators Dow Jones Newswires

Home sales in New Jersey surged in January, continuing a trend of strengthening sales as the employment picture continues to improve.

Sales of new and existing homes in January increased 14% compared with the same month in 2016, and rose 31% from 2015, according a market report by Jeffrey Otteau, president of the Otteau Group, an appraisal and consulting firm.

“Looking ahead, expectations for deregulation and tax cuts are likely to further boost sales, particularly for luxury homes, which have lagged since the start of the last recession,” Mr. Otteau said in an email.

The report showed that the pace of sales increased for the 29th consecutive month, with activity in January the highest for the month since 2005.

At the same time, the inventory of unsold homes fell to the lowest January level since 2005. Most of the state’s 21 counties had a normal balance between supply and demand, the report said.

https://www.foxbusiness.com/markets/2017/03/01/new-jersey-home-sales-surged-in-january.html

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More single women flooding NJ’s housing market

teresa-giudice-real-housewives-of-new-jersey-recapjpg-8fc06fc7cc044191

By Jen Ursillo March 1, 2017 2:32 AM

The spring home-buying season is about to be in full swing and all the single ladies will be helping to drive the market, according to new real estate data.

In New Jersey, first-time homebuyers are a big portion of the market — 35 percent. And single women — mostly in the millennial generation — make up 19 percent of that portion.

Nationally, single women are twice as likely to buy a home than single men.

But why?

Ralph DiBugnara, vice president of Parsipanny-based Residential Home Funding, based in Parsipanny says many millennial women are getting married and having children later in life.

“It’s become an empowering thing to own their own home,” he said. “They don’t have to start a family, they don’t have to get married.”

Read More: More single women flooding NJ’s housing market | https://nj1015.com/more-single-women-flooding-njs-housing-market/?trackback=tsmclip