St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-07-15
Prices Of Realty Continue to
Hold Firm at Present
Quotations,
While Considerable Inquiry
Is Observed for Property
Out Payne Avenue.
An Active Request for Mort
cages Was Manifested
All the Week.
A Big Warehouse Will Prob
ably Be Erected in st. Paul
Immediately.

The past week has not improved the
condition of the real estate market to
any perceptible degree, but sales have
kept along steadily, in a quiet way, at
prices that have been we'll maintained
all the season. The firmness in prices
that has heretofore been mentioned
still continues, and in all respects the
market appears to be in quiet, steady,
healthy condition and improving.
49,
One of the most active points in the
city seems to be out Payne avenue, in
Oakville Park, and Stone d Morton's
First and Second additions. The eX-
tension of the street car line out Payne
avenue has given an impetus to all
the realty in that locality, and a good
many people are going out there to buy
lots upon which to erect and establish
their homes. Though this locality is
quite a long distance out, yet the con-
Venience of getting into town is so good
that, practically, it is nearer than many
other parts of the city that are within a
shorter distance of the center of town.
~
Another advantage this locality has is
that ii is near the Bohn mandatory
and to East st. Paul, and those who
labor at these two points can obtain
homes within Il reasonable distance of
their work at prices that are within
their means. These are great consider
atiOnS for men of small means, and illus
trate in Il striking manner the I'M
pOrtance of having rapid transportation
to points distant from the center of the
town.
1t is we'll known that the street rail
way line is building barns and terminal
facilities out in that locality. All
around small houses are going up, and
Il community of several thousand people
are drifting in there. All through Oak
vile Park and Stone q Morton's addi-
tons can be seen number of new
houses that are being erected. They
are not large and costly residences, such
as can be seen on the avenues of st.
Paul, but they are such as indicate
industry, thrift and progress.
The weekly sales that are now made
in st. Paul may be considered as con-
stituting good, substantial and really
large total, considering that there is no
speculation and that property has been
held even more firmly than in 1887. 1t
has been a steady, staple trade, entirely
free from artificial influences. 1t does
not look now as though there would be
any very favorable change at present.
On the contrary, the probabilities are
that prices and sales will remain as
they now are till after the hot weather
is over.
The present firmness is a good basis
to make calculation upon, as there is
only a moderate movement. 1t seems
as though it is safe to expect a moderate
Increase III the amount of sales iii the
fall, providing the present promising
prospects of crops are not diminished.
If the crops continue to improve through
the fall and result in what it is now eX-
pected they will, more confident buying
of real estate in St. Paul may be eX-
pected. All the past week a close
watch has been kept on the crops, and
all reports from the Northwest and
West, so far as the Pacific coast, have
been of the most favorable character
Considering all things, while there is
nothing TO inspire expectations that
there Will be any great excitement in
the market there is a we'll founded be-
lief that the fall will witness consider
able Increase in the volume of tranSac-
tons and strengthening up of prices.
n
The week has been a fairly satisfac-
tory one for the first part of July
Numbers have gone from the city to the
lakes, but many home investors have
been inquiring with considerable activ-
ity for property. Most of the transac-
tions this summer have been for small
holdings. Additions of dwelling houses
are made daily to Arlington Hills,
all the region around the upper end of
Payne avenue, South ST. Paul, Burling-
ton Heights and other points where lots
can be had at moderate prices, and
where means for convenient access to
the city are furnished.
-
Two or three manufacturing concerns
from the East have had agents i'm st.
Paul for several weeks, negotiating for
sites for manufacturing establishments,
and though no definite arrangements
have been reached up to the present
time, there is no doubt some of them
will ind Judgment at some of the con-
yenient points i'll and around the city.
*x*
There is another feature that has
been noticed during the week, and that
is the increased request for mortgages.
Several who applied at real estate of
fees for such paper were asked WHY
they bought mortgages rather than real
estate, and they Invariably replied that
last year and year before they loaded
up with real estate and that they
thought it would be better to put their
money into mortgages and get s per
cent for their money while the market
was a little quiet.
~
On the whole, dealers are of the opin-
ion that the market has improved some
what during the week, and that the in
n 4if,, IL