The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1876-02-29
Real Estate.

We observe in the Chicago papers that
large amount OF money is offered by
loan agents at reasonable rates. on real
estate security. Those who want money
and offer high rates for il, are not able,
as rule, to putup desirable real estate as
security. In Sundays Tribune We notice
loan recorded OF $4,000 for five years
at s per cent interest, and another OF Sl0,'
700 for four years at the same rate. This
is considered low for money in Chicago.
The advertisements of newspaper
show the undertone OF business in COM
munity. Where large offers Of money are
made on real estate, it shows that a great
deal Of idle capital sseekings secure invest
ment, and that reuf estate is especially
preferred as security. So many mishaps
have taken place in all kinds Of invest.
ments since the panic, that nearly every
body who has money to lend, demands
this species Of security. .s
II is noticeable, however, that while
there are plenty Of people to loan money
on real estate, there are yet comparative
ly few TO buy the real estate itself. The
New York papers announce daily sales
of choice properties at heavy sacrifices,
in some cases at one half the prices the
same properties brought before The panic.
This sacrifice is not caused by any lack
Of capital IN that city, as a matter OF
course, but by simple decentralization
among buyers as to the tendency OF
prices. Capital, always timid, is doubly
so now, after SO many failures and 80
much talk OF "the end not yet" Buyers are
"bears," and only the unfortunate sellers
are "bulls." The former want to make
sure that they are getting property at
"rock bottom" prices, where there will
be. no future Sag" and hence they talk
everything down, while the latter, cannot
very well play the double part OF being
anxious to sell and at the same time
holding property of the market.
There is no doubt that good property
is being sold in nearly every city in the
country below its actual value in specie
times. Those who are buying will reap
their reward in the reaction that in the
nature OF things cannot be long delayed.
This is shown by the fact that while lum-
Der and iron, and every species OF build
ing material, are, like cotton goods, about
uslow as before the war, yet the proper.
ties thus being sold can not be replaced at
building prices. This isespecially true OF
Wheeling, where, in the first instance,
there has been no imitation OF prices, and
where, in the next, good sites Of all kinds
either for residence or business, are lin.
lied. 1t is easy to believe therefore that
good crops this season in the West,
where our trade for manufactures so
largely lies, will create a. demand for the
products Of our labor that will in due
time be felt on the real estate OF the town,
and give it the tone and snap that 1t now
lacks.
As for country real estate, we are not
able to see from actual sales any material
change in prices. We noticed the other
day the sale OF three farms belonging to
the estate OF Robert Buchanan in Wash.
ingtOn- county, at good'price', one Of
them bringing 800 per acre. All OF these
farms are several miles from railroad,
oreyen macalamiSed road. We sec that
lands over in Jefferson county Ohio are
reported Aschanging hands at good prices,
and indeed We hear Of NO sacrifice Of farm