Eureka weekly sentinel. [volume] (Eureka, Nev.) 1887-1902, 1888-02-18

The Climate - Real Estate - The
Speculative Craze - First Impress
siOna.
Los ANGELES. Jan. 81, 1888.

Los ANGELES, Jan. 81, 1888.
Ed. SENTINEL The sudden changes
in atmospheric conditions in Southern
California during the last two weeks is
something apparently astounding to
the oldest inhabitant. First, we had
between three and four inches of rain
within two days; then cold wave OF
a weeks duration swept over the
country, followed by one OF two days
OF fine weather, and then several very
cold nights which did considerable
damage to the orange crop. The local
papers in the various te~ns usually
represent their own particular sections
as having escaped the frost, and place
it in some other locality. Conse-
quently they have had quite a tilt
among themselves over the subject.
The fact OF the matter is, however,
that the cold wave has been general,
and in some localities ice formed over
an inch in thickness, and a great
many fruit trees are injured almost
past recovery. Over in Ventura and
Santa Barbara counties the cold was
not az injurious as in this and San
Bernardino counties, and the damage
there, for the most part, is merely
nominal. 1t has not dampened the
ardor of the home seekers from the
blizzard-swept regions OF the North
west to any great extent, and the sales
Of real estate average now from one
hundred and forty to two hundred
thousand dollars per day.
REAL ESTATE.
This real estate business in South
ern California has assumed phase in
speculative circles peculiar to itself.
In this city alone there are nearly 800
real estate offices, and the business
transacted by them is simply im-
mense. The modus operandi in the
transfer OF real property is about as
follows; A has u piece of property
for sale and places it in the hands OF
i to dispose of for a certain amount
for 80 days. A blank form is filed
out wherein A agrees to pay b, the
agent, a commission OF five per cent
on the net proceeds OF the sale, il less
than 81 900, and two and half per
cent Tor all over that amount. He also
frequently agrees to pay the regular
commission to the agent il the prop
erty is sold at any time while in his
hands, no matter by whom. So, il he
finds purchaser himself he is bound
by the agreement to pay the agent the
regular commission.
There is no standard rule in regard
TO the payment OF property. Usually
AN agreement is drawn and the pur-
chaser pays one-half cash, the balance
to be paid in equal payments OF three
and six months; but sometimes the
time is extended TO six months and
one year. In the
SIZE OF LOTS
There is considerable variation, rang
ing all the way from 30 feet front to 90,
mostly averaging 50 feet, and in length
some are only l25 feet, while Others
extend $50 Het. Everybody sets his
own price on his property; so, while
they may bring $50, 900 or more front
foot in the city, they can be bought for
from $3.50 to 81 900 per lot in the sub
hands half dozen times week often
times realizing handsome margin OF
profit over the purchase price to the
seller.
OUTSIDE PROPERTY
Is also at all shades OF prices-fron
one thousand down TO two hundred
dollars an acre. Choice level ACRE
property near town will bring the
former figure TO cut up into town lott
for speculation. Squatters' rights II
outlying districts can sometimes b
bought for $40 an acre. The discon
tented feeling among some OF the ole
residents causes some property to b'
offered at a decided bargain. One in
dividual offers IL acres Of good lane
with house and barn for $1,000. An
other offers 40 acres at $40 an acre