The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1877-12-03


A representative Of the ISTELtiGENCER
converted with several prominent real
estate agents Of the city on Saturday,
concerning the condition Of the local real
estate market. Itis evident that the real
estate market in this city, both for prop.
erty for Sale and 10 rent, has been gradn.
ally improved this fall. In regard 10
tenementS, dealers who are acquainted
with the ground from personal inspection
are Of the opinion that there are not
nearly 10 many vacant a. there were
three or four months since. During the
year business has been very dull; but for
The past month there has been an i'm.
proved demand, which Ia holding on later
than usual; a falling of, however, iSex.
pected now that winter haa fairly act IL.
Particularly In the central parts Of the
city 10 II true that the tenements are Tia
ken up closely; there may be, aud doubt.
less are, number Of unoccupied tene.
lnents in the suburbs, but not 80 many M
In the summer. Many renters are un.
willing to go 10 the Island or 10 the north.
ern, southern or eastern suburbs, and
desirable houses in the Second, Third,
Fourth, Fifth and Sixth Wards arc at
premium. People are, however, goingtO
The suburbs more than they have been,
even when they do not buy for perma.
nenl homes, and this is considered auo,h.
er sign Of the improving spirit
The better class Of tenants are very
particular as 10 the kind Of houses they
take, aud new buildings which have been
fitted with modern conyenienceA" are
more In demand than ever before. Pricea,
nevertheless, have not risen in come.
quence Of tho increased call; but on the
contrary there Is every reason 10 believe
that material reduction will be inau.
gnrated In the spring. Mr.. Isaac Irwin,
who probably controls more real estate
in the central part Of the city than any
other agentin town, expects TO reduce the
rents Of his tenants at least 10 per cent,
the reduction 10 go into effect as rapidly
as existing contracts expire. This re-
duction will apply to both business houses
and tenants. Many Of the former were
leascd for terms Of from two to ten years,
and to equalize the rents OF all classes Of
tenants, the reduction in theSs cases will
exceed 10 per cent, as they did not have
the benefit OF the reduction made last
spring as in the cases OF those who rent by
the year.
The greatest call at present Is for
cheap, small tenements, ranging from s.
TO SIC per month, and lew mech.
anics or clerks want TO pay more than
the latter amount. It Is agreed on all
hands that there must be a notable
change in the rents demanded for this
class Of property, corresponding to the
shrinksge 10 general values. Wuges are
as low now as before the war, and even II
the mechanics and laborers who occupy
this elias OF tencments had steady EN-.
ploymGut they would be closely pressed 10
supply their families with the necessaries
Of life and at the same time keep their
rents paid UP. As 1t is, rents are col
lected with the greatest difficulty, II col
lectcd at all, and landlords and agents
generally are beginning 10 see that it Is
better 10 have half Loaf than none at all,
and 80 will put down their rents TO n liv-
ing ha'is and secure paying tenants.
Most people have come to want great
deal Tor very little money, and the prop.
erty owners have TO agree 10 ii willy.
nilly. In explanation OF the increased
demand, it Is said that there is no doubt
that people have been moving into the
city to a considerable extent this fall, al
though some have gone away. Many
persons who found employment at the
mills and factories left the city in the
early part Of the summer, and sought
work ID tho country, who have since re.
turned.
There ia also an increase in the number
Of those who buy real estate, as well as
in the call for property 10 rent. Those
buyers who invest expecting 10 make a
home, almost uniformly go 10 the Island,
as il ia generally conceded that Il ia the
future residence part Of the city. There
has been no general depreciation in val.
ues dnriug the current year, and the in.
creafel demand has had the effect Of
stillening up prices.
Tic concIusion from all these facts
seems to be that the reul estate marke,
another spring, though not altogether
freed from the influence Of the depres.
sion, will be better than il has been for
some years in the demand for available
property; but that the dealers will, for
all thai, lower the rents Of many Of their
tenants.