Perth Amboy evening news., 1907-02-23
HIGH PRICE
FOR REALTY.

"A resume of the real estate rec
ords in the metropolitan district of
Jew Jersey for the last twelve
months demonstrated beyond q doubt
hat the real estate boom which has
Jeen in progress in the Ave northern
ounties of the state since late in
1904 is remarkable not only for the
ADVANCE in prices of all desirable real
state, but for the continuance of the
novement and its solidity," said a
cal estate operator OF Newark. For
he twelve months past advances of
90 per cent. in value have become
ommon things. A real estate dealer
,perating In the district between
iewark and Essex Fells considers a
DOR price any offer that does not APP
roximate an advance of 200 per
ent. over the price Of fourteen
months ago.
while the greatest advances are
onfined to the territory included
thin q radius of twenty miles
lorth, west and south of Newark
1ere have been advances in other
.ections east of Dover which would
)e remarkable we've it not for the
greater advances recorded In the ter
'ritory indicated above. In this dis
.rict it iG shown that land by the acre
,as risen from 5000 to $500 and that
~ the front foot the advance has
gone from So to $85, according to
ocality.
I'm Montclair, notably along the
mountain top, land which two years
go brought from So to $40 a front
DOT is now selling to home builders
or from $50 to $50. The same land
which then sold from $500 to $500
N acre is now bringing from $4,000
0 $4,000 after being cut up into
)uilding lots. Within the last month
rom $40 to $50 have been offered
or desirable lots along the line of
he boulevard which will eventually
,e built from Great Notch southwark
uto the Oranges. The advance for
he year in and about Montclair AVER
GEES from $50 to $50 an acre and
ingularly enough the greatest adj
-ances have been recorded for terri
DRY practically on the line between
rerona and Montclair, on the top of
irst Mountain which, with the ex-
option of about five houses, Is Is yet
Unsettled.
"In Verona land that fourteen
months ago brought only from $50
o $50 a front foot now sells for from
200 to $500. The same land which
hen commanded the price of only
200 or $500 an acre now brings
rom $4,000 to $4,000. This advance
or Verona land Is undonbtedlv
brought about by the purchase of
large tracts by syndicates for home
building, and the revival of the plan
If the Erie road to complete the long
bandoned tunnel through First
fountain In Montclair and proceed
trough Verona into Caldwell and
hence to Morrlstown. In Caldwell
and that only within two years had
o speculative value is now bringing
rom $50 to $50 a front foot and BIZ
he acreage Is bringing from $1,000
o $4,000. In Roseiand and Essex
cells the advance has been even
r~reater, the bottom price fourteen
months ago being $15 and the top
rice now being $S5. The sales aver
ge, however, a price of about $50 an
ere.
I'm Middlesex and Bergen counties
he advances have averaged about
$50 a front foot for the most desir-
bic building lots and about $1,000
n acre for suburban lots. In Perth
imboy, where the most remarkable
irvances have been recorded for Mid
'lesex county, prices have advanced
bout $35 a front foot in the best
lart Of the town. Real estate deal
ars throughout this whole territory
,redict for next year far greater &C.
'ivity than has served already to
reate the remarkable increase In
inst recorded