New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1885-10-05
MORE STIR IN REAL ESTATE.
TRADE HEALTHY AND PRICES FIRM


EFFORTS TO INTRODUCE NEW BUSINESS METHODS
WORK OF TIE EXCHANGE.
II is a matter of general remark among dealers
in real estate that the market, in spite OF less
activity than would be pleasing, Is in Thoroughly
healthy condition. There Is no rampant specuia-
tion IN either houses vacant lots. Inc burden
of mortgages Is light in comparison WIN tue Vaue
Of tile property encountered and Inc STEADY erowtH
of the population is furnishing constant
e eess from the AMOUNT Of buildings thrown
on the ,1n MARKET nrces This O aatumn but there
is every indication the opinion of many dealers,
that the range of values for both selling and rent
ing property will be sustained up TO the expects-
tions of sellers and landlords Here and there some
classes of property are bound to decline IN price,
Just houses and flats In other direction, may may
of the business is promising to be all that can
reasonably be desired, except by eXtravagant
bulIsu Activity in business has not yet Ieacnel
its height but the return of people to town mas ed
to many inquiries aud TO steady increase 1or tne
last two or three weeks IN the volume OF business
done. The progress OF renting is bearing OUT tho
views presented by The TRIBUNE earlier Ill tne
season. High-priced dwellings and flats naturally
feel the effect of the focent severe depression III
business while the medium class OF both nome ana
office property is enjoying the DEMENT'S OF tue usuai
eager demand. part of the falling OH IN the
number OF c1nyeyances oa nav he dme
in measure to the temporary hesitatloh aIlons
holders TO adjust their views OF values 10 inc Tow
range OF interest rates WHICH appears W nav '''
to stay. r. - ,;,o &C
property do not indicate any serious 1a9it ~ 'ilo
real estate situation. Owners and landlords, so
dealers say, must not expect the same rate OF ln-
terest ON their investments which they got Wneh
money commanded loan high rates otretuIn.
Those who do will he disappointed. aud II Is
matter of congratulation among brokers and oper-
atOrs that the number OF those VINO nave toP
lofty ideas this subject is daily diminishing.
The number of private sales reported last
week show an encouraging increase ana tne
I % ssoc% i is in S auction
business. SAID prominent FINEST. broKer IT,
Gently o,.o .o,,.ou, , rood oct;vo
business In real estate this fall. We Will not see
any great jump in prices, but there VIII DC y
healthy movement all around In Doih prlVateu anu
business property and IN vacant lots on the Nest
Side simply because real estate offers the sureSt,
cleanest Investment of mans money OF all de-
partments of business"
The opinion daily grows that the Real Estate
Exchange is bound to give a strong stimulus 10
the prosperity of this business interest It's
prominent members are working in every way 10
Introduce reforms i'll the method OF conducting
transactions. to give security and strength 10
daily meetings of brokers ON the floor of the En-
change previous 10 the opening OF the auction
sales are said to be increasing IN popularity. ana
they are bringing together many men who N no
other way would think of cultlvating each others
acquaintance, and thus affording an opportunity
for an exchange of views and sc sSmP%riSC on
time and excrtion such as could
not be achieved in separate offices; Connected
for combining property for sale to one representa-
tive OF broker the progress of which was noted IN
the columns of THE TRIBUNE last week. The
pledge committing the signers to this principle; so
far as property offered at the Real Estate Ex-
change is concerned. is receiving many signatures
among the 500 members of the lnstltutlon The
position of Mr. Cammann. the president of the Ex-
change has been stated. and among those
who have approved the pledge are Leonard J. Car
penter, Z. II. Ludlow & Coz W. j. Roome,
s. NJ Blakely and f. A. Cruikshank & Co. The
opposition that has far been developed seems to
be confined to doubt as to the practicabllity of
the adoption of the reform" system, not to be
founded upon any desire to retain the present
method if such chaotic business procedures can be
called method" The advocates of the principle
of "singe representation" say that the further
owners of real estate look into the question the
more they are impressed with the argument that a
reorganization OF real estate business methods Is
for their advantage as fully as for that of the
brokers.
One of the steps taken by the Exchange to pop
ularze the daily meetings OF brokers Is the PRINT
ing for private use by members of slips containing
list of the property offered or desired by the diff
ferent brokers' These are got out twice week, land
they afford convenient method of comparison
with the books of the brokers. who can tell quickly
whether not they have any parcels to sell or
buy to correspond with those asked Tor or offered
on the official list.