New-York tribune., 1920-04-25
Trouble to Find Pretty Homes in Hills Of Montcla
But One Must Have
at Least $1,000 to
Pay Down to Pll,-
chase a Place i'm
Attractive jersey
Dwelling Section

Tho plight Of the homeseeker is two
fold at least. After locating the lit
tle nest that you would like to cal
your home comes the discovery tina
tho man who has built it or who own
it wants q lot more American dollar
paid over at one time than you ex
pected. You will find that unless 70,
can promise good substantial
first payment he will not be inter
ested even slightly in your difficulties
The time affords a wonderful op
portunity for presenting the virtue ant
value of thrift. If you have not laie
aside some money during the year.
gone by or YOU cannot secure some
on short notice, the attractive home.
being erected in the suburbs for the
rentpayer in the urban zone will
mean nothing more to you than sc
many reminders of money that might
have been used to better advantage.
Changed conditions have forced the
men who have built these pretty homes
through our countryside to demand a
substantial payment. They are COM
PEELED to do this if they would con-
-inue building operations because the
moncyed interests are not backing real
estate projects, whether business i'm
provements or small homes as strong
~ or as willingly as several years
ago.
Capital is infected with economica,
doubts, and will not advance NOR. rnan
30 per cent of tho cost Of q home
operation. To make up the rest of
the cost the builder is forced to
marshall all his financial resources
1T was the other way round in
former times, the lending institutions.
estates and individuals were alwavs
willing to back the builder q rood
deal more than half way. If the
builder to day cannot get back a good
deai OF his Investment in lump sum
when he sells. his house he will not he
able to provide homes for YOU and
other families who many want to To-
cate In the country. In other words
his operations would be limited: he
would not be doing all he could to
reileve the housing shortage, which is
still very acute.
$4,000 Will Buy a Home
In Montclair, one of the fn.a+
most exclusive and attractive towns in
the clty's suburbs, $4,000 will secure a
nome. 10 be sure it will not be as
pretentlous as some others of the new
and old houses in Montclair for sale
OUT IL Will be a comfortable and at
tractive little house of Colonial de-
sign on good size property, with at
east SIN rooms and bath and a porch
across the hrst floor. The section is
oeaualiul, as every part of Montclair
IS. There is no other of the fiftv to
sixty, new homes in Montclair thai
can be purchased with so small On
amount of cash. This amount is abom+
20 20 per cent of the price demanded for
these little houses. e" LUZ
~, AS rule builders are asking moro
than this. Some of them want t'.1 ali
eash ABOVE the mortgage which, as was
soplained o above, Is rarely more than
~ ~, % per cent of the value. About 30
~ 90 per cent is what most builders
are ASKING. 1t was intimated by one
aurate, not even a builder or a land
.oru' and he thought that there were
mes when less than the amount
when they had declared was the mini
mum might be accepted.
Buyer Cannot Declare Terms
The man who is in the field for
nome and will go to Montclair with tho
laea fXed Ill his mind that he will die
ate the terms, will be badly mistaken
INC builder is master of the situation
md for reasons best known to himself
HS may take from you 25 per cent
"hiie he would not accept a penny un-
ger 30 per cent from another, those
Nlng ms terms. Therefore do not
sfy 10 drive bargain to far. 1t i.
ieasohaolc to seek terms as low as It
~ possible to get them. but the fine
ness Of the expert salesman is essen
,ial II one IS to continue far along the
bargaining line. becalse the home
seeher must know by intuition. by his
udy of the character Of the builder.
When he has reached the limit of bar
-crins. N'''
With number of builders the mini.
mum Is their asking price. 1t is their
ohiy 10" price. this stand being made
possible i'll Montclair chiefly because
of The great demand for homes.
l40 Homes Are For Sale
Folks who would like to establish
~ Moniciair will find about sixty
ne" homes to select from in addition
TO about seventy old houses-that ia
homes that arc occupied and were
erected within the last ten or fifteen
!ears. New houses arc held at prices
which start al ss,5Oo the most expen.
sive being s35.O0O.
mere ~ no limit to the prices asked
ior me oder homes. There are places
N lhe Hillside section that cannot be
nad for less than s175,0OO. About
h,r'y homes in that section are for
sale Naturally low prices are not to
pc expected in that territory. the low.
est est priced houses aavailable being
1t is possible to buy an unoccunied
nouse for $500. There are two, At
inns price close by the Lackawanna sta
.'oi,. lheir owners are ask;n., 81. 500
easn IN hrSt payment. There are EIGHT
o.heE houses In that section for sale
me me highest price demanded bejno,
Many New Houses in Upper MontcIa,r
New houses are to be found IN
.aIgest numbers in the territorv be.
swsen the centers Of Upper Aiontclair
.a Donteisir proper, served by tho
~atcnung Avenue and Upper Mont-
elair stations Of the Erie system, II
10 estimated that twenty-five bouse.
IN tnat section were for sale yesterdav
az from $4,000 to $4,000. Ali are
within easy walking distance of 4he
TWO stations, which arc not more tbsr
eignt or ten blocks apart. Twenty Of
.hese houses are in the environment OF
the Watching Avenue station and per-
maps hye are nearest to the Upper
Aontclair stop on the Erie system.
Those who will seek in the Watchunc