May 8, 2014 at 10:20 AM
FANWOOD, NJ – In one month’s time, Fanwood has benefitted from the start of one-seat train service into Manhattan, received a statewide award for its downtown development, and positive coverage in a New York Times feature.
The impact of these developments will likely impact the local real estate market significantly.
“People are so busy with their lives, if they can shave off 15 minutes of their commute, it’s a big deal to them,” said Paul LaMastra of ERA Suburb Realty, who has lived in the area all his life and has been a real estate agent for the past three decades.
“A lot of people tell me they want towns along the Midtown Direct train line because they don’t want to change in Newark,” said LaMastra, who believes one-seat trains into New York City will boost property prices in Fanwood and Scotch Plains by 10 percent or more.
“NJ Transit has invested millions into duel locomotives. They’re moving forward with this, and I think we can expect to see more one-seat service coming,” LaMastra added.
Already the attention that the Fanwood downtown redevelopment has received is bringing the area to the attention of home-buyers.
“The real estate feature in The NY Times will boost the market because it paints the picture for someone who doesn’t know how nice the community we have,” said LaMastra. “It might prompt someone who had never heard of Fanwood or Scotch Plains before to come and take a look.”
The NY Times article highlighted the fact that Fanwood is more affordable than Westfield and its mix of houses, including stately Victorians and Colonials, as well as Capes, ranches, and split level homes.
“Fanwood has a lot going for it,” LaMastra said.
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