The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1869-09-08
REAL ESTATE MATTERS.
Real EafafN N0fes.

1t appears to be the mission OF New York cor
respondents to unearth the vllany OF the metropolis
and serve 1t up In racy style for the deectation OF
rural readers. Whether the temptation to be in
teresting may not lead TO romancmg or at least
exaggeration, is an open question. The following
from the New York correspondent OF the Rochester
Chronicle has on its face q suspicious look,
and although the writer's assumption OF fraud
in the matter s scarcely warrantabe by the facts,
1t suggests the necessity Of caution the part OF
purchasers Of real estate, ana more particularly
small buyers:-"Recently there was town on Long
Island advertised in all the papers where lots could
be had very reasonable terms. They were sold for
hity or SIXTY dollars each, and the purchasers
have the deeds OF their property at the end OF six
purchaser who had the money In his Docket pro.
posed 10 pay down and take his deed at once,
but the sellers told HIM ne had better DO
ike the others and pay by instalments. On de-
cllning to DO 80 they acknowledged that they
could not give deed Tor the properly, as they had
none themselves. They had bought the land and
received bond Tor q deed, which they would have
before the six months had expired. They hoped to
receive money enough when the third or fourth in
stalments were In to pay for the property and then
they would get title ana be on a good footing to
accommodate their patrons TINS is about the sharp
est dodge know OF In the lana business. The pur-
chase had been made without money, and the pur-
chasers were in danger OF losing their purchase
money IN case the projectors OF the scheme should
The following from the circular Of o prominent
broker, respecting the prospects OF the real estate
market In this city, although not containing much
information, fairly reflects all the light possible to
obtain on the subject thus early In the season.
"Wth the approach OF the fall season some anxiety
Is exhibited vita regard to the course of the real
estate market 1t Is impossible to speak definitely
as to ITS activity, as IT depends SO much upon out
side influences, which cannot now be determined.
The past spring ana the entire summer months have
tested with unusual severity the price Of reality
to q dead stand, while a large number Of the
shreWdest investors have been taking time by the
forelock In picking up almost lmperceptibly every
parcel OF desirable property offered upon Manhattan
Island where concession was made in the price.
Notwithstanding an unusually disturbed dear money
market, general dulness IN business equal to the
period OF 1857, without the panic, general cOnces
sion IN the rental rates OF unoccupied houses, the
number OF which has been greater than at any
since 1861. Real estate men must be thankful that
under all these adverse and trying circumstances
added to which we have gradual reduction III the
gold premium also the national debt rendering the
purchasing power OF paper money more valuable
and approaching Its prlceis 1t not remarkable that
prices are SO frmY The ensuing months win wit;
parts or the world the reports OF heavy crops
sured, while IN the United States, both South and
West, the soil will add this year millions Of dollars
to our wealth, which, IN finding It's way through all
the ramlncatlonS OF every department OF trade and
commerce, will most surely contribute 1.-THE to-
wards the investment in land, and again form the
basis OF many prlncely fortune upon sites which
In few years Will become villages, towns and
They complain Of dull times in San Francisco.
Real estate speculation says correspondent, has
uOne ltS snare, anu OUTSIDE lOtS are now unSaaDle.
1t cannot be said That weOcated real estate in San
Francisco is really lower than 1t was six months
since, but 1t is less salable.
The real estate, machinery, tools, &C., belonging
to the estate OF Mckay Aldus, at East Boston,
were sold by auction on Wednesday last large
company was spreseut from several sections of the
Union, ana even VancOuvers Island had represen-
tative. The real estate sold in lot subject
to mortgage OF $50, 900 and another encumbrance
amounting to $4,000 w. E. CONN was the pur-
chaser, for the Atlantic Works. for the sum Of
$4,000
The Chicago Post Of saturday says Of real estate
in that cty-The figures OF the transactions in city
and suburban real estate for the past week show
considerable improvement over the previous week.
the number Of sales being TWENTY-FIVE greater, and
the amount Of consideration $2O3 $50 greater. Prices
are held firm, with an upward tendency. The total
OF the weeks sales was $675,539.
Fifteen lots OF land IN Dorchester. Mass out OF
seventeen into which six acres Of land bounded by
Dorchester avenue, Savin Hill and Pleasant street
had been divided, were sold by auction on Thursday
for $40, 000-abOut eight cents per foot. The best
lots lying at and near the corner OF Savin Hall
nue. and Pleasant street, were purchased by Catho-
cs with the intention Of erecting church thereon.
Two other lots on the other side Of Savin Hill ave-
nue., were also sOld one containing $4,000 Ieet, at
1917 cents per foot and the other, 20 600 feet, at
l7h cents per foot These lots sold few years
ago for less than seven cents per foot.