Summer 2003 Edition  

Fair Lawn's Real Estate Market   Amy Sprechman-DeBellis at RE/MAX on Fair Lawn Avenue, told Fair Lawn News that there are now 133 houses for sale in Fair Lawn.  She said the average cape is selling for $275,000 to $350,000, and the average split is starting at $425,000.      Sprechman-DeBellis said that it was wonderful for the real estate market that the school budget passed by so many votes (Yes: 3,269. No: 2,329).  The turnout and support showed a real commitment by Fair Lawn residents to their schools.     There is a rather nice home for sale on Owen Avenue.  It is a bit larger than the typical Fair Lawn home – 12 rooms, 7 bedrooms and 4 ½ baths.  And, it is a bit newer.  When the current owners rebuilt the house a few years ago, they didn’t leave much more than the front brick façade and the chimney.  It has some nice amenities too -- media room, sauna, Jacuzzi, and an indoor pool.   Thanks to the lowest mortgage rates in a generation (a bit more than 5%), the lucky buyers should be able to get monthly mortgage payments down to well under $10,000 per month.    Teri Ingala a RE/MAX realtor in Paramus told Fair Lawn News that "sales of homes have slowed down in the area, but they are still going strong in Fair Lawn."  So, Fair Lawn News asked her, “Why is the market strong in Fair Lawn?”   She said Fair Lawn is attracting people for several reasons.  “By far the most important reason is the quality of the schools.  People realize that their children need a quality education to earn a good living.”     Improvements on River Road have also helped bolster the real estate market.  “People like walking around, shopping, and eating in a downtown.  Many nearby towns don’t offer that.”  Another feature that attracts people are the recreational programs.  She said “When Fair Lawn opened up Walsh Pool to residents of other towns, many people learned about all that Fair Lawn has to offer”.   She said Fair Lawn's recreational programs bring people together and that fosters a strong sense of community.    Recent Homes Sales (Below) Are Sponsored By:    RD HUNTER & COMPANY LLP Certified Public Accountants and Business Advisors 201-261-8111, x-344.   teriing@aol.com Teri Ingala   Address Sales Price Type Sq. Feet Year Built 30-03 Berdan Ave. $530,000 Bi-Level 3,344 1995 19-01 Prospect Ave. $435,000 Ranch 1,344 1957 33-19 Hamilton Rd. $415,000 Ranch 1,866 1952 37 Sandford Rd. $412,000 Cape 1,696 1946 16-10 Mandon Pl. $390,000 Split 1,895 1957 0-150 Tunbridge Rd. $365,000 Cape 836 1939 30-14 Morlot Ave. $365,000 Bi-Level 2,692 1957 39-11 Jasper Rd. $343,000 Colonial 1,650 1952 12-14 Bellair Ave $339,900 Colonial 1,278 1930 39-19 Morlot $335,000 Ranch 1,174 1956 7-11 Bergen Ave. $325,000 'Old Style' 1,978 1927 0-05 Fair Lawn Parkway $315,000 Cape 1,525 1951 11-08 Bellair Ave $315,000 'Old Style' 1,273 1930 8-28 Mansfield Dr. $293,000 Cape 1,252 1949 31-08 Southern Drive $289,900 Cape 1,020 1952 12-42 1st Street $286,000 Cape 990 1942 31-06 Norwood $280,000 Cape 1,080 1949 11-14 Marshall Rd. $278,500 Cape 1,080 1949 3 Bancroft Pl. $270,000 Col. Attached 1,282 1930 3-10 Saddle River Road $267,000 Cape 1,124 1946 39-06 Berdan Ave. $265,000 Cape 1,100 1949 1-22 Banta Pl. $255,000 Cape 1,457 1942 7-01 22nd Street $253,000 'Old Style' 868 1927