Paul Kim Defeats Suk Jun Min to Secure Democratic Nomination for Pal Park Mayor • Paul Kim, the incumbent mayor of Palisades Park, has defeated Pal Park Councilman Suk Jun Min to officially secure the Democratic nomination for the upcoming Palisades Park mayoral race. • According to the unofficial tallies released by Bergen County for the New Jersey primary election held on June 2nd, Mayor Paul...
Hochul Bares Details On Second-Home Tax. • The tax would apply to an estimated 10,000 homes, Hochul’s office said on Thursday, down from an initial estimate of 13,000 homes. The larger figure was based on older data, a spokeswoman said. • Still, Hochul expects that the pied-à-terre tax would raise $500 million even with fewer homes taxed, her office said, which is the same figure she...
What One Home Sale Tells Us About San Francisco’s Comeback. • A CONTEMPORARY HOUSE on San Francisco’s Russian Hill has sold for its full asking price of $24 million, property records show. The six-bedroom home went into contract a week after going on the market, said local MLS. • The speedy sale is a far cry from the last time the house went on the market, for $19.995 million in 2022. That...
Office Demand Sees Biggest Rebound Since Pandemic. • The ”Office Demand Index (ODI)”—which tracks new in-person and virtual office tours—reached 79 points in the first quarter. This is an 18% increase from the previous quarter and a 13% increase compared to the same period last year, marking the highest level since the pandemic began – Impacted by AI, Finance, and Culture Industry...
New Dedicated Agency Established to Prevent Real Estate Fraud. • New York City Mayor Eric Adams has established a dedicated agency to strengthen the response to home ownership fraud. On the 24th, Mayor Adams announced the creation of the city's first Office of Deed Theft Prevention (ODTP) under the Department of Finance (DOF). • The agency will be tasked with monitoring "deed theft"—real...
NYC Developers Are Suddenly Obsessed With the Number 99. A city government program that was enacted in 2024 offers a tax exemption to developers of most apartment buildings that have fewer than 100 units and include some affordable housing. Anyone building bigger than that has to abide by stricter requirements to get the same tax break. They have to pay construction workers at least $40 an hour, or...
New Jersey Home Price Growth Ranks #1 in the Nation • Compared to the national average home price growth of 0.5% during the same period, home prices up 6% compared to last year Driven by influx from New York City and limited supply. While the national housing market is generally slowing down, New Jersey's home price growth has emerged as the most prominent in the country. • The 'Spillover'...
Mortgage Rates Jumped in Week, Rising to 6.46%. • Mortgage rates rose to the highest level since September, the fifth straight weekly increase. The average rate on the standard 30-year fixed mortgage climbed to 6.46%, up from 6.38% last week, according to Freddie Mac. • Mortgage applications for home purchases fell a seasonally adjusted 3% last week compared with the previous week, according...
Neighborhood grocery stores can signal home price trends. • Areas with higher-end stores like Trader Joe’s or Sprouts saw home prices rise about 6% above average. • While areas with discount stores like Walmart saw growth about 4% below average. • However, experts say this is not caused by the stores themselves—rather, retailers choose locations with certain economic...
Recent Real Estate News for Bergen County, NJ (March 2026) 버겐 카운티의 최근 부동산 상황(2026, 3 월) Market Trends: "Seller's Market Persists with Shifting Dynamics" Reports from the past week indicate a complex market in Bergen County characterized by low inventory and rising prices. Single-Family Homes: Inventory remains extremely tight. As of early 2026 data, new listings are...
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