file photo by Boyd Loving
This just in: the sky is falling!!!!!
Ridgewood schools are still ranked highly, and even are ranked above Tenafly by several organizations. Niche.com also rates the entire Ridgewood public school district as 7th best in the state (Tenafly is 15).
As far as the real estate market goes, I am certainly no realtor, but I can tell you that homes around $1M in the Upper Ridgewood area (near Willard School) are still going in bidding wars and for above asking price. I have several friends who recently purchased in the area and some who are currently looking for a larger house within Ridgewood, and these are the stories I hear. In some cases I have heard that 20% down isn’t even enough for houses $1M+.
Some countervailing thoughts:
1. Wall St/Finance mostly drives the top of the market. That end is definitely soft and will remain that way. One might argue that the huge bonuses created a market segment that is inherently unsustainable. The 4k-5k sq ft homes are definitely going to be hard to sell. If you are around the $1MM mark there remains a robust market
2. A home should not be viewed as a real estate investment. Historically, residential real estate keeps pace with inflation over time (decades). In the short term there are of course peaks and valleys. I have been in Ridgewood for almost 40 years, so I have seen dramatic increases and long flat periods. that’s real estate.
3. School system is in decline? Based on these arbitrary metrics from magazines trying to sell copy? I don’t see it.
4. Taxes in Ridgewood have always been high. This is not a new development.
5. I am an early baby boomer. I am still here. When and if I leave Ridgewood it will have nothing to do with the real estate market or the school system–it will be a lifestyle decision.
6. Apart from the unpleasant crew (Aronsohn et al) that recently tried to disrupt the fabric and culture of this village, this has been a very nice place to live and raise kids for many years. It will continue to be. Take the long view–don’t plan your life around the ups and downs of the real estate cycle.
Um, head in the sand then?
yes but in ridge wood the services are not like what they used to be. how can it. the work force is down to the lowest number in history .not good.
May want to point out that niche.com rank RHS #28 below some 15 other NJ open enrollment public schools.
Thank you Mr. Union member 11:49 – Now stop leaning on your shovel AND GET ABCK TO WORK YOU INGRATE.
12:22 Do you even know how Niche works? Its much like Yelp, Trip Advisor, etc…. User rated. Meaning anyone can rate it. As far as the other rating go, most of them consider Standardized Test scores. Our district had one of the highest(Maybe highest) opt-out rates in the state for PARCC. This greatly affects the ratings! and for the record: I am NOT A TEACHER! Just a parent that has two children in the district and is content with our school system. I happily invite you to move out of this town and complain to your new neighbors.
to 8,18 pm ,you sound like a real jack ass, no union member. just a 43 year member of paying town taxes. and we see the changes for the worst, start replacing workers, you have the money.
you know what is funny about the mayor and council, they all go to the same school on bull shit. every new council keep saying we have no money.but yet they keep putting on new workers in village hall and fire and police.witch is a good thing but what about other village departments, how do you sleep at night.
oh ,,,, they know. and 11,49 you know two. right . I just hacked u , so if u keep messing with me we got your name , so go piss up a rope.