Tag: #RealEstateNews

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U.S. Housing Market Stuck in a Deep Freeze as Mortgage Rates Lock Homeowners In

Ridgewood Real estate

Only 3% Say They’d Sell at 6% or Higher — Here’s Why That Matters

the staff of the Ridgewood blog

Ridgewood NJ, America’s housing market is stuck — and it’s not thawing anytime soon.

According to a recent Bankrate survey, only 3% of U.S. homeowners say they’d be comfortable selling their homes in 2025 if mortgage rates remain at 6% or higher — which they likely will. That reluctance has created a market freeze that’s stifling both supply and demand, pushing existing home sales to their slowest pace in nearly 30 years.

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Senator Kristin Corrado Slams Trenton Democrats Over Sudden Mansion Tax Overhaul

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the staff of the Ridgewood blog

TRENTON, NJ — Senator Kristin Corrado (R-40) has strongly criticized Trenton Democrats for fast-tracking major changes to New Jersey’s Mansion Tax with little notice or time for the real estate industry to adjust. The new law (S-4666/A-5804) was introduced on June 23, signed into law by Governor Phil Murphy on June 30, and took effect immediately on July 1, leaving just nine days for compliance.

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New Jersey Increases “Mansion Tax” and Shifts Payment Burden to Sellers: What Homeowners Need to Know

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the staff of the Ridgewood blog

Ridgewood , NJ — As part of the newly passed $58.78 billion FY 2026 New Jersey state budget, major changes are coming to the state’s real estate tax structure — particularly the “Mansion Tax.” The revamped policy will increase taxes on high-end property sales and shift responsibility from buyers to sellers, significantly impacting the state’s luxury real estate market.

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Second Phase of The Marq Teaneck Breaks Ground with 248 New Luxury Apartments

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the staff of the Ridgewood blog

TEANECK, NJ — The transformation of Teaneck’s Alfred Avenue corridor is ramping up as Malas Development begins demolition and site prep for the second phase of The Marq, a luxury rental community that will bring 248 new apartment units to the Bergen County township.

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REI Lot in Paramus Sells for $25M as Developers Plan 426-Unit Mixed-Use Project Near Bergen Town Center

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the staff of the Ridgewood blog

Paramus NJ, a major real estate transaction has reshaped the development landscape in Paramus, NJ, as a fully entitled property near Bergen Town Center sold for $25 million. The site, currently occupied by an REI store and adjacent parking lots on Forest Avenue, just off Route 4, will soon be transformed into a vibrant mixed-use community featuring 426 residential units, retail spaces, and structured parking.

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New Jersey Ranked Among Top 10 Fastest-Moving Housing Markets in the U.S.

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the staff of the Ridgewood blog

Ridgewood NJ, Homes are selling at record speed across New Jersey, placing the Garden State among the top 10 states in the U.S. where properties are flying off the market the fastest, according to the latest data from Realtor.com.

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Sheraton Crossroads Hotel Demolition in Mahwah Postponed Until May 10

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Sheraton Crossroads Hotel Implosion Rescheduled to May 10

the staff of the Ridgewood blog

Mahwah NJ,  the planned implosion of the iconic Sheraton Crossroads Hotel has been rescheduled to Saturday, May 10 at 7:30 a.m., township officials confirmed Monday.

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New 100-Unit Mixed-Use Development Approved for Hackensack’s Main Street

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the staff of the Ridgewood blog

Hackensack NJ, a transformative project is coming to Hackensack’s downtown as a 100-unit mixed-use building has officially received the green light from the city’s Planning Board. Located at 132-148 Main Street, the development, dubbed The Sapphire, aims to breathe new life into a long-vacant property in the heart of the city.

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Paramus Development Update: Bergen Town Center Plans Revamped Under New Leadership

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the staff of the Ridgewood blog

Paramus NJ, one of the three major development projects at Paramus malls is undergoing changes. The previously approved Bergen Town Center redevelopment plan has been revised under new leadership, calling for fewer apartments and retail spaces.

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Historic Paramus Property on Ridgewood Border Designated as Redevelopment Area

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the staff of the Ridgewood blog

Paramus NJ, a long-vacant property in Paramus, featuring a former garden center and a historic two-century-old home near the Ridgewood border, has been officially designated as an area in need of redevelopment. This decision, made unanimously by the Paramus Planning Board last week, could pave the way for revitalization at the prominent site on Paramus Road and Ridgewood Avenue.

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