The morning news. [volume] (Savannah, Ga.) 1887-1900, 1889-06-02
IS THERE a BOOM" IN REAL Es-
TATHP
A Conservative, Sensible View of the
Matter


a Conservative, Sensible View of the
Matter.
There are some people in the city who in
slst upon characterizing the real estate
transactions Of this spring as ''boom.n It
IS matter of very great interest to US as d
community to know to what extent this is
true. Careful inquiry develops the fact
mat the expression is never heard coming
from those who are best informs I'd on the
SUBJECT A BOOM rather coaveys the
idea OF something unreal-fciitious. A
state OF things fostered by an army of OPP
orators drawn into locality by condition
OF Things favorable for the purpose. Let
US carefully review the situation of matters
IN our midst.
IN Savannah there has been no evaiIable
lahd Uhat the lot seekers could get 1t is q
notorious fact that there has been no sales
OF IotS Tor years. 1t is true that a small
number OF lots scattered through different
portions OF the city could be found upon
tue lists OF the brokers, but these were held
a. prices that were not considered even rea-
sonaoie and upon terms that were not with
IN the reach Of the masses. In most cases.
not only was very high price demanded
Jana pald), but all cash was required A
person or small means could not pay for the
lou, and to build upon it required a very re-
spectacle bank account. La addition there
70, as soon as the papers were passed
interest on the purchase money and city
taxes commenced to accrue, and made The
Investment large one in short time.
Uhder such circumstances there must
necessarily have been a large number of
persons OF moderate means VINO were de-
TERED from getting homes. They have
bean patiently waiting and each year get
ting better able to make the start to get
home.
In the meantime those who owned large
tracts outside Of Anderson street had also
been waiting for some action by the city
authorities fixing the streets and opening
them. Nothing being done ia that direc-
loh, these holders prepared to do that
which they desired to do long ago-sub-
divide their holdings and sell them. They
plat their lands, and in order 10 meet the
aolnty or those who want to buy, give them
as easy terms as possible. This is wise aud
evidences just appreciation of the wants
OF the people. 1t is not claimed as I'm ,elfish,
because 1t is done with view to make it as
easy as possible to start to get a home.
Sellers prefer to have a buyer build upoA
the lot he has bought, and t. that end en-
courage MIN 10 spend the bulk of his saw
lngs on the house and take time on the lot.
BY this-the benefit is to the greatest num-
bert benefits the seller, the buyer, the
community at large.
Under such circumstances it is not
strange, indeed, it Is only to be expected
that the lots should SELL It should be re-
.nembered that the entire transactions thus
far will not reach much over $50 lots.
Some of these buyers took two and three
lots. In one or two instances, where more
pretentious houses were des red, or larger
grounds could be aft rded, even more lots
were bought 1t is very easy, therefore, to
approximate how many persons have pur-
chased. With these facts to guide us the
BOOM idea is not sustained.
The truth of the whole matter is that our
population is rapidly growing. The limits
between Anderson aud Bay will not con-
tain u.s. and we must overflow on favorable
ground. There are many persons in Savan-
nah who should avail themselves of the
favorable terms upon witch they can now
purchase a lot-the nucleus Of a home.
Another spring will witness higher prices, a
poorer selection Of lots, and very certainly
less favorable terms.
Savannah is prosperous, her people happy
aad CO ltented, and there are many of them
yet unsupplied who will use their own iudg-
ment In these matters despite the croakers.