The Record from Hackensack, New Jersey • 16

REAL ESTATE AND BUILDING REAL ESTATE AND BUILDING FRIDAY, AUGUST 16, 1903 33 4 I 111 I- Ik tv-rj 1 I I win lni nrirPTfrn i Hi "L'U fl E1S3 LJ 11' 1 hh HOUSING DEALS NEW PROBLEM FOR BIGFIRMS New Homes Located, Old Ones Are Sold For Executives F. II. A. POLICY PUSHES HOMES FOR NEGROES Repossessed Houses Are Available To All Buyers AIDE ON CARPET ft 4 I ft iv LOSSES ARE HIGH Washington (UP1) The Federal Housing Administration is selling more homes to Ne New York Some U. S.

corporations find themselves almost as actively in the residential real estate business as the 19th Century mill and mine owners, reports "Business snnvvv i ROCKLAND: This bilevel model I nner level has three bedrooms, baths, dining baths, and 2-car garage. Edgar F. DeFino Inc. of Wyckoff is handling sales at the tract being developed by the Miljo Construction Corp. of Clifton.

The tract also features homes in bilevel, 2-story, and split-level design priced from $28,900. ONE OF FOUR: This Ramapo ranch is on display at the 60 house Meadowbrook Farms community on Meadowbrook Road off Brook-side and Crescent Avenues east of Route 208 in Wyckoff. Priced at $28,900, it has six rooms, two priced at $23,990 is being presented at the Top room opening onto a terrace, living room, and O' The Ridae development on Amundsen Lane, kitchen with balconied dinette. The lower level New Cilv. Nat Wvman and I'hilliu Gilbert are le-1 has a wood paneled family room, fourth bedroom Week" Magazine.

These days, however, their holdings are likely to consist of commodious homes in fashionable suburbs instead of row houses in mill towns. The reason, of course, is the increase in executive mobility, especially since World War II. When General Motors, or Inter vpinninir thp rninnv nf homes. The model's i or den. utility room, and 2-car garage.

I groes under a policy which it feels is not only consistent with the dictates of human dignity but with good business practice. The homes have been dumped in the lap of the Government because the owners were unable to make the payments. As the insuring agent, the F. H. A.

had to make the mortgage good. The F. H. A. is passing the word around that these homes many of them in all-white neighborhoods are available to all buyers, regardless of race.

It is getting the point across by using a little muscle, and then seeing that its action gets as much attention as possible. The F. H. A. recently called ir.

an area broker in Ohio to answer charges that he was reluctant to show these Government-owned homes to representatives of Negro real-estate firms. The Government acted after receiving several complaints from Negro prospects. DENIES DISCRIMINATION The broker vigorously denied anv discrimination, but he re ttt 31 HI 111 national Business Machines, or General Electric transfers a management man, it may cushion the shock for him by taking the responsibility fcr disposing of his old house and absorbing any loss he might suffer. As a result, companies are handling homes in this manner at a rate put by one estimate at $100-million a year. Getting into the realty business adds up to a whole series of new problems for corporate management.

SPECIAL DEMANDS One Pittsburgh-based executive insisted that his rock gar I pin iHfi ki i n) Hull i IMlH-tfA iipZfZ signed rather than face a show of the homes, priced from $25,900. The model has four bedrooms, 2 'is baths, 23-foot living room, dining room, kitchen with breakfast area, paneled family room, separate laundry room and an attached 2-car garage. WYCKOFF COLONY; Meadow Lawn Inc. is offering this 2-story colonial at Country Estates on Wyckoff Avenue at $32,550 on a plot of more than a half-acre. Cross County of Bergen, Emerson real estate firm, is handling sales den be shipped with him to his new location out west.

Over company protests of "Can you imagine the tonnage!" his rock garden went west with him. And then there's the executive's wife who insisted that the company find her husband a suitable house, at their new location, within walking distance of the Methodist Church with the best paid choir. Add to these the more common problems of dogs, cats. IS UPPER SADDLE RIVER: This 4-bed-1 house custom colony being developed by Ray room Dutch colonial split-level model priced at mond L. Cole and Emanuel Guimarra of is on display at the Homes of Cressfield field.

Homes are being offered from $42,500 to on Skyline Drive off Lake Street in Upper Saddle $55,000. The split levels are on fully-land-River. John Berg is handling sales for the 4-1 scaped and shrubbed plots an acre and larger. Upper Saddle iver Model Of Custom Community Opens Third Model Home Opens In Wyckoff down with F. II.

A. over the issue. Area brokers are engaged by the F. H. A.

to maintain the foreclosured homes and also to show them to home buyers or local real-estate firms who might be interested in listing them. They are supposed to be available to all brokers. For more than a year now each of the broker-managers been required to sign a pledge that he will not discriminate in showing the homes. The recent action by the F. II.

A. is the first crackdown on one of its managers. Agency officials are hoping it will help emphasize the agency's desire to make the homes available to all comers. Negro home buyers have complained that in other years they were turned away in some communities when they approached agents managing the foreclosed homes. The F.

H. A. for the past 2 or 3 years has been trying to guard against this. There are no exact statistics a ailable, but field agents re here are a I6V2 by 12'2 master bedroom with an 11 by 7 dressing room with two closets, dressing table and bath with stall shower; three additional bedrooms measuring 14 by 12, Upper Saddle River A 2-story Dutch colonial model priced at $55,000 makes its debut this weekend to initiate sales at the Homes of Cress-field custom community on BILEVEL RANCH TO BUPENED Colonial Home Readied In Little Ferry Little Ferry A 9-room colonial bilevel ranch, priced at $25,500, will be opened for inspection this weekend at the 15-house Franklin Gardens Colony at Franklin and John Streets. The homes, being built by George Peck Associates Inc.

of Hasbrouck Heights, are on fully landscaped and shrubbed plots 75 by 100 feet and larger. Utilities and other improvements, including city sewers, are parakeets, children ith special educational needs, and wives who want just the right kind of home. Nearly all companies try to smooth transfers by guaranteeing the employee against loss on the sale of his heme. This is where a manufacturer soon discovers he is wading knee-deep in the real estate business. The company may absorb brokers' commissions, pay closing fees and appraisal costs, and even take care of mortgage prepayment penalties.

For a relatively inexpensive $20,000 house, these costs can easily amount to basement plus an attached 2-car garage with direct access into the center hall. Fully insulated and weather-stripped, the model has gas-fired hot-water heat, wood double-hung windows, silent light switches, a built-in vacuum cleaner system, and a hl-fidelity radio and intercom system with outdoor speaker. permits meal preparation while supervising children's activities in the family room. An island of cabinets in the kitchen serves as a pass-through, and server, and separates the kitchen from the breakfast area. Th laundry room has separate access to the rear yard and also serves as a mud room where children can leave their play clothes.

The extra lavatory is near the laundry room. In the family room, double 14 by 11, and 12 by 11, each with at least 8 feet of closet space; and a second bath with vanitory and tub-shower. The house also has a full Wyckoff A new colonial 2-story model is being opened today at Country Estates, the colony of 56 homes being developed by Meadow Lawn on Wyckoff Avenue here. The homes are being offered through Cross County of Bergen, Emerson realty firm, from $25,900. This is the third model to be opened at Country Estates.

Previously a split-level and a ranch model were placed on display. The homes have been designed by Harsen and Johns, Tenafly architects. A 4-bedroom home, the coloni Skyline Drive off Lake Street. It is one of 4 designs offered at the tract by builders Raymond L. Cole and Emanuel Guimarra of Bergenficld, who are showing homes priced from $42,500 to $55,000.

Other homes are in ranch and split- $2,000 to $2,500. Cressfield Homes Opens Ranch Model UPKEEP IS COSTLY While the house sits in their inventory, waiting for a buyer, the company has to pay for maintenance, taxes, and costs of keeping the house in show condition. The longer the house stays on the market, the more expensive it becomes to the sliding glass doors lead to the patio area. Buyers are allowed the options of having fireplaces in the family room or in the living room. On the sleeping level, the master bedroom is served by its own adjoining bath.

In addition, there is a built-in vanitory in a dressing alcove, plus two closets, one a walk-in. al model has baths, a pen-eled family room, 23-foot living room, full dining room, and 2-car garage. Other features are a 12-foot foyer entrance that serves as a center hall, kitchen with breakfast area, and a separate laundry room. The design of the home places the principal living area on the i company. port that the number of Negroes buying these homes increased in recent years.

BROADENS MARKET They also report these homes have been sold to Negores without any fuss. The feeling among F. H. A. officials here is that making tl homes available to Negroes has broadened the market considerably and increased chances of getting the houses off their hands.

The sales reports quoted by The upper level has an entry leading into a mezzanine and includes a balconied living room with picture window, dining room, and a kitchen with a breakfast area. The kitchen has a built-in wall oven, counter-top range, and custom cabinets. The sleeping wing offers a master bedroom with sliding door and walk in closets, plus two additional bedrooms. The The second bedroom also has two closets and there are two linen closets in the upstairs hall. The main bath has a double- level design.

Cole and Guimarra are placing the houses on fully landscaped and shrubbed plots 1 acre and larger. John Berg is sales director for the 4-house colony. The Dutch colonial model is from plans designed by architects Harsen and Johns of Tenafly. The house, offered in an exterior of shakes and siding, has a 6 by 4 covered entry leading into a paneled true center hall with a rear exit. The first floor has a powder room, separate laundry room off the hall, and a 17 by 12'i kitchen with bay-window breakfast area.

The color-co-ordinated kitchen also includes custom birch cabinets, a built-in wall oven and counter-top range with hood, 18-cubic-foot refrigerator-freezer, dishwasher, and counter tops of laminated plastic. There is also a 26 by 13'i first floor off the fover. The four bedrooms and the two baths oc Entry is into a foyer with guest closet. Off the foyer is a living room with 14-foot window wall, a dining room, and a kitchen with built-in wall oven and range, exhaust fan, birch cabinets, formica counter-top and door to the side yard. The sleeping wing has a master bedroom with two closets and lavitory, a second bedroom with one closet.

The colored c.ramic tile bath has a vanitory and tub shower. The L-shapcd ranch also has an attached garage with a door to the yard and a full basement with laundry tub. The house has wood double-hung windows and gas-fired warm air heating system. cupy the second floor. Priced at $32,550.

the model Companies label these costs top secret, but it is not unusual for larger companies to have more than $l-million worth of single-family houses in inventory. Seme companies now sanction executive moves only when absolutely necessary. Others have adopted a tougher policy on home appraisals in order to escape some of their bigger losses. second and third bedrooms are has a number of authentic Cresskill An L-shaped ranch model with three bedrooms is being unveiled this weekend to open sales at the 7-house Homes of Cressfield community on County Road just north of Madison Avenue. It is priced at $23,900.

Raymond L. Cole and Emanuel Guimarra of Bergenficld, who currently are developing Homes of Cressfield communities in Woodcliff Lake and Upper Saddle River, expect to have homes ready for initial deliveries early this fall. The homes at the Cresskill community are available with 10 per cent down, 30-year conventional financing. The builders are placing the homes on plots 100 by 125 feet and larger in an area which has sanitary sewers and other improvements. John Berg is sales director at the tract, which has a fieldstone serviced by the main bath ith I colonial touches.

Among these vanitory, linen closet, and tub I are the wing arrangement for the floor plan, with the formal To ease the pain, at least twol shower. The lower level contains the fourth bedroom or den, paneled recreation room with sliding-glass doors leading to the patio, lavatory, separate laundry room, and entry to the 2-car garage. The house also has hot-water baseboard and zoned heating system. basin vanitory. The model is heated by a gas-fired circulating hot-water heating system employing slant-fin baseboard convectors.

Year-round air conditioning is available as an optional extra. Fully insulated and weather-stripped, the model has an exterior of cedar shingles, with colonial brick used on the front portions. The home is available in three different elevations. Minimum plot sizes are 125 by 200 feet, with many plots ps large as three-quarters of an acre. All utilities are being installed at the tract, which is a half-mile from downtown living room to one side of the foyer and the formal dining room to the other side.

There are also colonial-style picture windows facing the front of the home in both the dining room and the living room. The kitchen, adjacent to the dining and the family room, the F. II. A. do show a rising trend.

In fiscal year 1962 the F. II. A. sold 10,000 of these houses. This figure was doubled during the last fiscal year and is expected to triple during fiscal 1964.

At present the F. H. A. has 47,000 homes, most of which were picked up because of mortgage defaults. The majority are in the lower price ranges, many around $10,000.

There are large concentrations of such homes in Texas, Louisiana, and Florida. brand-new nationwide companies just in the past 3 months have gone into the business of handling employee transfers. Relocation Finance based in St. Louis, has signed trial contracts with two large companies. Homequity, with living room, a 14 by 12 dining room, and a 21 by 12'i paneled family room with exposed beams and a floor-to-ceiling brick fireplace.

The family LAND VALUES RISE Washington (UPI) Farm and nonfarm demand for rural property is pushing up the price of land. Agriculture Department experts predict that the average wall on its perimeter. mam offices in New York, IIous ton, and Los Angeles, is present Designed by Robert Easton. room also nas sliding-giass ly helping 10 major companies doors leading out to a 24 by 20 Closter architect, the L-shaped 45 Are Rented In First Week ranch home features an exterior value of farm land will rise to of brick and shakes with a 6 by $135 an acre by next March 1, with their realty problems, and tear-shaped patio. has firm contracts with two The second floor has 4 bed Under the Cross County of from $130 a year earlier.

I rooms and two baths. Included 6 portico entrance. others. MARANO IS NAMED AGENT FOR HOMES i Bergen sales program, all homes are offered ith minimum down payments that average 20 per cent on 30-year conventional mortgages. Some homes can be The second floor has two bed- rrmms u-ilh rlnspt: a hath with purchased with 10 per cent Renewal Shares With Housing In Clark Development Proposal Montvale Forty-five rentals were recorded at last weekend's opening of Nottingham Manor tub shower and vanity, and a down apartments, the 140-unit.

10-1 hall closet, buildingg development on Not-! Eicht acreas ill be used for HEARING SET the apartments, with the other tingham Court west of Kinderka-mack Road. This closes activity in 1 1. is di.ts -t hh: pa Bank Committee study Use Of recreation area. There will be in the first section. By HUGH L.

MORRIS his bill this year. He hopes it; has lagged and activity has fall- Clark said his bill would fos-(Special to The Record) will provoke a lot of discussion en far short of what is needed ter better metropolitan plan-Washington A tip-off to 1 and pave the way for early ac-: to recover existing housing ning anfl courage suburban 1 A A.t.,il 1 -L Three Ranch Units Being Bnilt Near Golf Course In Leonia I.eonia A. G. Marano Associates of Ridgefield has been appointed the exclusive sales agent for three ranch homes in the Golf Course Estates development on Lakeview Avenue opposite the local golf course. Priced from $37,500 the homes feature three bedrooms, two baths, science kitchen with built-in wall oven and range, electric dishwasher, intercom system, and built-in vacuum attachments in each room.

With 2-car garages, the homes are being constructed on plots 120 feet and more deep, with full landscaping. They contain gas-fired, hot-water heating. Fall occupancy is scheduled. HRIARWOOD SALES uuu on iiuusiiiK legislation uexi irum ucvaj viain. sow.

imuai-, year, when Congress will ad-i ly, this is a classic example of l3.L?? Alfred Sanzari of Hackensack, 1 150 per cent parking with as- um" who is creating the develop-1 signed spaces for tenants. 1 Washington A 1 day hear- ment. the first of its kind in ing will be held next Thursday Montvale. has started moving by the House Banking and Cur- families in and expects com- 10111 fiFTTINfi irency Committee on legislation plete occupancies in the first ikJ Uui iiilu to create an International Home 36-unit section in three build- TW AD ARTlTrYTC Loan Bank through which U. S.

ings bv September 1. 1 i'Ltif ll ill I 1 i savings and loan associations housing and community development programs which will create comment and controver- journ early for the fall elec understatement tor almost no tions I use of the program. fJl cmili uj idjuumg i a cilities such as sewers, water and streets in suburban uui ui6 me "mi. jca. ,0 jiner man me provisions 01 10 remeay ine iuuduon.

Kill tirf -i- IUK.b viut-u in a um juoi ni. inprp-a nnp in flnrut 1 1 arie sain nomeowners ouisRie Occupancies in the 50-unit of four buildings are expected to get under way Septem Twelve-Unit Structure Being Built At Main Street cculd invest a small portion of i by U. S. Senator Joseph S. it that shouid be noted: the urban-renewal areas shoud get 1(nrifin their capital to get similar m-; Clark (D.

title of it is the community de- the same liberal terms avail- So LfZ stitutions started in Latin Amer- Clark has sponsored an om- velopment bill, rather than a able to homeowners inside re- j1 bill which gives new em-ihousiDg bill, conforming to a newal areas, and he said local with special empha- ber 15. Construction of all build-! Lodi Ground has been ings on the 20-acre tract is I hmk-pn and construction is un- It is estimated that the Latin 1 phasis to rehabilitation of res- ismft toward a Department of urban-renewal agencies should sis on fco uesign ana arcm- lecture Klential areas, redevelopment r0mmunitv Devploompnt. anriihavp authority to buv. repair under way. feT Way for a 12-unit garden American countries need 14 mil rather than what he as building the slum of future years.

The units right I of downtown business districts, Housing and sell at marked dewn prices termed hcusing Karlv rentals had hepn marie i ripvplnnmpnf herp. according to llon new nou.sin ti Fpitnc lamt snppia-lnow as many as nas been from plans and initial occupancies started eariler this month. list with the Alexander Summer the United States since good design pumic nousing iini-sivr pnnsr and healthier development of HOLslNG BOOST the country's metropolitan Also, and this is worth not-areas. 'ing. there is nothing in it tc private operator to handle at Publ.c housing program now a profit exhausted, would be extended c-5 2 years.

Nottingham Manor offers 3- Co. of Teaneck. Feltus who negotiated- the 1950 and that lack of long-term financing is the major problem. S. L.s would create for them the financing resourc- room apartments and 5-room du It is not an Administration stimulate sale of private hous- i SUDSidies to cities for urban 1 fea.tures.

of thp D'jl First Of 28 Houses Will Be Delivered This Summer Edison Sales are nearing the one-quarter mark at the 28-house Briarwood East community on Plainficld Avenue just off Oak Tree Road, where the developers are preparing homes $120 1 sale of the 12.000 square feet bill. "but it contains many pro-1 ing. Even the liberal Democrats plexes renting from monthly. building plot on the southeast The 3 room apartment in-1 corner of Main Street and Ave-cludes a living room with a nue reported that the apart-gucst closet, a bedroom with I ments are being planned for es as well as provide a motive i visions identical or similar to in comroi ot congress ana me for personal savings what will be in the Admimstra- Administration feel that down tiCn bill to be put in early next payments are about as low and year. mortgages about as long as CHANGES HANDS There arp two rhips to the thev can go.

FOR BUSINESS AREAS vkie more liberal assistance to One controversial feature of families and businesses dis- for deliveries late mis summer Builders Jack J. and Albert lW0 C10S East Orange The 53-familv i reliabilitv of the The bill does try to make the bill involves the urban-re-. placed ty renewal cr otner re-apartmcnt house at 49 South Clark is a ranking, liberal Dem-; more workable the rehabilita-1 newal program. It would elimi-, development. Clinton Street has been on the Senate housing tion programs approved 2 years nate the 30 per cent limit on Clark's bill does not cover rhawrt hv hP Smith Clinton i suhrommittpp.

and thp bill was ago bv Congress, under which the amount of the money which elderly housing, mass transit closet, ana oam wnn iud najui mc shower and vanitory. Another I The new owners. Bernard closet is between the bedroom and Stephen Cohn of Long Is-and the bath. land, have been represented by The 5-room duplex, renting at the Summer in their real a monthly, has a living tate transactions for three gen- Corp. of Newark.

The transac- drawn upon the suggestions of the Federal Housing Administra- could be used for predominant open space land programs Handshuh of Kenilworth. who are developing the tract as another Hand-Sum Homes community, list six sales. They are showing colonial 2-story and split-level models priced from $28,790. Jacobson. Goldfarb and Tanz-man Co.

of Perth Amboy is sales gent. i. I. i muninna nmcia and suDDort-1 non insures major repair luans naieiy nonresnennai areas, wniiru ire Ilu nn-u ta.c J. tion was negotiated by the ers of urban renewal and pubiic with guest closet, dining room, erations.

Feltus jaid of up to $10,000 at 6 per cent opens Lhe floodgate for business of in separate bills, li also does interest with 20 years to re-(district areas which Clark said not cover moderate-income Kislak realty firm of Newark. It was sold by Ruth and Elinor Grobert of Morris housing. The Pennsylvania Democrat Tbe site was sold by Helen and Hans Hesse of Dingraan's Ferry, Pa. and kitchen on the first floor and another closet in the hall leading to the second floor. pay.

are equal in importance to res- housing which he said would be Interest of private lenders idential functions. i provided in later legislation. dees not expect any action on i.