The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1888-02-26
BETTER THAN THEY EXPECTED.
Real Estate Dealers Are Well Pleased with
The Activity in Their Business.

The real estate market presented no dis
tingushing features last week, although deal
ers think they discern something of a boom
ahead. The business for the two months OF the
year has been highly satisfactory, and beyond
the expectations of dealers The market
opened steady at tn beginning of the year,
and every successive week has brought an in
creased business. While business WAS un-
usually good al: through January the sales, so
Tar this month, are almost double the number
Tor the entire month OF January.
There is a disposition among holders of prop
erty to increase valuations that is great draw
back to the market The disposition is espe-
cially marked among people who have improved
property for SALE Every day there are many
inquirers about the real estate Offices who desire
to invest In improved property, but few sales
only are made. because in most Instances such
property is valued at more than it is worth
During the two months in the year the trade has
been confined almost exclusively unimproved
outside property. and agents agree that the dis
position of owners Of improved property to
demand enormous prices has been the cause of
the few sales of inside property. The suburban
towns are proftng by this feature of the
market. While their property has been selling
steadily, they have unwisely advanced
prices, but have invited more purchasers at
profitable prices. Three-fourths of the deeds
property about the city limits. and the indica-
tions are thai unless valuations of inside prop
erty are decreased the additions to the city will
continue to reap the benefits of the lively
market.
During the last week there were ninety nine
deeds recorded. representing $3.50, 06l. 81. Sew
enty five per cent of the sales were unimproved
property. The improved downtown property
that changed hands consisted principally of
business blocks. The largest transfer was that
of propertyvalued at $50, 900 to Mrs Mcintosh by
the executors OF the will of the late w. G.
DePauw. Among other property transferred to
her was the Stewart block. at the corner of
Ohio and Illinois streets Andrew McOuat sold
the McOuat block West Washington street.
to George N. Catterson. for $1,000, and the
property at tho intersection of Massachusetts
avenue and Alabama streets sold by Geo
w. Powell TO Lewis Wallace for SIS, 600. Quite
a number of So. coo tracts of lots east, south.
and west of the city were sold.
The omen weather of the week started very
brisk building boom. Thirty permits were issued
during the week. calling for an expenditure of
about $50, 900. The majority of the permits
were for the erection of residences about
from $500 to $780, Among the more
important permits were tho following John
Schumacher, two-story frame residence
Belefontaine street. near Christian avenue
$500; D: Hutchings, frame residences the
corner of College avenue and Eleventh street.
$500; E. R. Morgan, frame cottage on Ruckle
street. near Eighth. $1,000; Geo. D. Frank.
frame cottage on Agnes. near Michigan. $1,000;
John Shea, brick storeroom No 200 West
Sonth street, 81. AGO.. aud Chris Young. frame
cottage on Twelfth street, near Paca, $1,000.