The morning news. [volume] (Savannah, Ga.) 1887-1900, 1888-06-17
REALTY'S BIG ADVANCE.
THE CITY RAPIDLY GROWING
SOUTHWARK.

of Property Within the Last Six
Months-Lots That Sold Year Ago
for $500 Now Valued at $4,000
on Property Between CASTOR and
Anderson Streets Within the Past
Five Years - The Big Boom Now
South of Anderson Street.
An inquiry among the real estate dealers
shows that real estate is rapidly changing
hands in the southern portion Of the city,
and that lots south Of Anderson street haYe
been steadily approaching in value, and
largely so. The city is growing southwark,
and while many lots are being purchased
for homes, and houses Of all kinds, from
the less expensive cottage to the more pre-
tentious three-story building, many lots are
bought for speculative purposes, the steady
advance making money invested in real es-
tate more productive than in any other in
vestment that can be made.
Mr.. r. D. LaRoche, Of LaRoche & Nc
Laughlin, says that lots in the southern
portion of the city that sold at S85 five
years ago sold one month ago at S1T0, and
are now selling readily at $500 each. He
says that his firm is handling real estate
located in different portions of the city, but
he has noticed that the increase of valuation
is more rapid in the southern portion Of the
city, and lots on Bolton ana Duffy, and
also on King and other streets south of
Anderson street are approaching rapidly.
300 PER CENT INCREASE.
Lots on Gwinnett street he says have ap-
| preciated fully 300 per cent. He cites the
fact that the Prendergast lots, on Ander-
son and First streets, are readily selling
at from $500 to 5000, which shows
that real estate is not rated too high.
In fact Mr.. LaRoche says that the only de-
probation in real estate is in the extreme
eastern and western portions of the city
toward the river. He says that there is no
place in the country which will show more
| steady increase in price of real estate than
in Savannah, and especially all that portion
of the city lying south of CASTOR street.
K. II. Tatem, another dealer in real
estate, says that the increase in the market
value of real estate in the southern part Of
the city in the last six months ranges from
80 per cent. to $50 per cent, and real
| estate south OF Anderson, between Hab-
ersham and West Broad streets, has aver
| aged at least so per cent. advance over the
market value of six months ago. Lots
selling at $175 a short time ago now com
mand from 1926 to $3.50 He mentioned the
sale of lots on Fourth street that were
a month ago. A lot on New Houston which
was offered at 81 800 six months ago has
since sold for 81 900 A lot near the new
Baptist church, corner Duffy and Abercorn,
offered last fall for 81 800, brought 1000
in January, while other property Mr.. Tatem
says has advanced in like proportion.
THE BOOMING SECTION.
Mr.. Tatem says that the increase is in the
south and southeastern part Of the city.
The only depreciation coming under his OBJ
| servation is in that part of the city east of
East Broad, north of Liberty and south of
the river. Real estate in that locality, he
says, has tendency to decline. He notes
a very slight decline in Robertsville, but
that real estate is firm in Yamacraw and
the eastern part of the city.
Mr.. Tatem says that the growing conf
dence Of the future of the city has stimu-
lated prices New railroads coming here,
the new hotel, the new postoffice, Hammond,
Hull & Coz new guano factory, the foun-
dations of which are now being laid, and
another large guano factory to be erected
between the Vale Royal mills and the water
works, and other Improvements showing
the steady growth Of Savannah has appreci-
ated the value of real estate, and as the city
is growing southwark real estate must nee
essarily steadily advance in value, as it has
been doing of late years, and more rapidly
within the past six months.
Mr.. /. ID. LaRoche of LaRoche g. Sons,
says that the advance on property that he
has held on Anderson street has been so per
cent. In the past six months. On Second
Fourth and Eighth streets the advance has
been very little less. Two lots on Second
street that were sold six months ago for
81, 200 are now held for $4,000. A year age
the same lots sold for $500. There is a
demand for property between CASTOR and
Anderson streets, but the greatest activity
is south Of Anderson street.
IN THE SOUTHERN SUBURBS.
In Kingsville, just south of Twelfth
street, lots which six months ago sold for
$50, up to last week were selling at $780,
The price has now been advanced to
$50. Kingsville has ninety lots, and the
property originally sold in tract for
So 200 The advance is remarkable. While
Mr.. Lahoche has noticed no depreciation in
the value of property in the northern part
of the city. there is not the demand that
there Is in the southern section.
Mr.. ]. Mclaughlin says that the real ad-
vance in the value Of property is in the sec
ton south of CASTOR street to Anderson
and from West Broad to Price. In the past
five years the increase in value in this sec.
ton has been from 300 TO 400 per cent
There has also been a big increase in the Sec
ton west of West Broad street on Burroughs,
and in the vicinity of Laurel Grove ceme-
| terry. IOJS III UndL section tndU brought
$50 few years ago Mr. Mclaughlin has
recently fold for $500 and 5000.
THE FINE RESIDENCE SECTION.
There has been big advance in Gwinnett
and Bolton street properties and between
Bolton and Anderson. The demand for
fine residence sites, Mr. Mclaughlin says,
is almost entirely between CASTOR and An
derson streets.
Mr.. c. II. Dorsett, who is one of the
largest handlers of real estate in the city,
was seen several times, but he said he was
too busy with other matters to talk real
estate.
All the real estate men say that there has
been an unprecedented advance in the
southern section in the past four or five
months and that it is likely to keep
up. One sale that was made yester.
day shows how eligible residence sites are
increasing in value A 9S-foot corner LOT
on Waldburg street sold a month or two
ago for 81, 800. Yesterday GO feet Of the LOT
next to the corner was sold for ZOO.