Los Angeles daily herald., 1886-06-24
.sC,tmatev as an InErediens
ua.I Estmte values.


.,g,,matev as an Ingredient ."
Heal Estate yaiues.
One of the eccentricities oil the ex-
treme prosperity which now exists IN
Southern California, and notably IN
Los Angeles county, is that many oi
the cold timers" actually seem AFRAID
~ the condition Of things which has
been brought about by the eagerness
of neople from all quarters oil the
limited States, and from the world al
large, to possess real estate herea-
bouts BY many of these people the
,..asa,t "boom''--for the sake oi be-
inc accommodating we at last call II
1boom"--is looked upon as some-
thing positively dangerous 10 rem
force the people who really cannot
understand the transition OF Los An
geles county from sheep pasture 70
the most eclectic spot on the cont'
nent there are a number OF exces-
siyely witty people, principally from
Central and Northern California ano
Oregon, who are fond OF assuring 'he
stranger within our gates and our own
people that in the extensive sales Oh
real estate which are daily reported
"climate" is being paid for at SO
much an acre or lot. We are inciiheu
to think that this is true, and TO 'he
HERALD it appears perfectly hatura'
that it should be 80. Why notY Ihere
are few more perfect things IN thiS
world than a perfect climate. Twelve
wears ago lot OF gentlemen came ou.
hare from Indiana and Iowa ana
bought one-half OF the San fascuai
rancho from DIR. Griffin Tor W
an acre. These worthless had
"climate" in their eye, put
they did not pay for it. They were
too wise for that. They concluded
rather TO take the climate for nothing,
the land for as little as they could
yet IL for and to develop water and 20
in for a profitable experience. Hay-
ing arranged their programme to SUIT
themselves, they finally concluded TO
sell climate and water with their w.
an-aere land. Within the current
wear portions of this extremely cheap
land, with climate superadded, have
Aold Tor as much, in the shape oil cor
ner lots in Pasadena, as twenty-three
thousand dollars an acre, and yet the
later purchasers are perfectly con-
tented. They neither ask nor require
any sympathy. They are willing to
take this work-a-day world as they
find II, and to shoulder their chances
Of coming out ahead. In the light oil
the past we are inclined to think that
they are right; and the chances are
that. instead of losing, they VIII
make money. Leaving the center oil
Pasadena out of the question, the
men who bought lands there ten
years ago at absurdly low prices now
hold them at from $1,000 to 5000 an
acre. They probably know what
they are about, and il is safe to say
that they will ask for no outside SYM
pathy in their real estate ventures
These same Pasadenans are not SELF
ish in any sense, and they do not
think that all possibilities OF proht IN
lands in Los Angeles county are com
pretended in their own splendid and
instructive settlement. Within the
past two weeks residents OF Pasa-
dena have invested fully thirty
thousand dollars in Monrovia'
They see that what has been done IN
their own colony can be done else
where under equivalent conditions.
This large investment was made
principally in the five acre lot tracts
of Monrovia which, two or three
months ago, could have been had at
$500 an acre, with all the facilities oil
water distributed in cemented pipes,
and with splendid examples OF in
slant success in horticulture abound
ing on every hand. Probably these
Pasadenans recognize the fact that
Monrovia has a climate even better
than their own, because the altitude
is greater and the air rarer and purer.
At all events, they paid from $3.50 to
5000 per acre for these five acre lots,
the average price being about $500 an
acre. Stranger still number OF lots
were sold on the plateau where Mr.,
Samuel B. Keeier, of the Grand Central
Hotel, New York city, designs build
ing his large hotel, at 81 900 an acre.
How happy are those who, unde-
terred by the success OF people who
don't believe IN buying "climate,
fearlessly waded in and bought prop
erty at Monrovia at bedrock figures? ?
Already those who invested there
three months ago can double and IN
many instances quadruple their
money, and the end is by no means
yet. 1t is possible, on one OF these
five acre lots, with the perfect facili-
ties for irrigation, to make comfort
able living for good sized family,
and then the "climate" is thrown in.
Those who watch the foothill devel-
opmsnts OF Los Angeles county, fol-
lowing the line of the Los Angeles &
San Gabriel Valley Railway, will see
the most remarkable enhancement OF
real estate values ever recorded in the
United States in any properties which
are not located within the limits of
the principal cities. And the much
disprized Climate" will be RESPONSE
BILE for most OF it