The morning call., 1890-05-01
MAGEE'S REPORT.
The Real Estate Market During
the Month of April.
q Very Large Number of sales-The Repre-
sentative Transactions - Something
About the johnson Estate Sales.

Circular, published by Thomas Magee we make
the following extracts:
very heavy real estate business was done
last month. The number of sales were 695. of
The estimated value OF S3,939.5 $50. against 600
sales, OF the total value of $2,776.562 in the
previous month OF March. The chief call is for
iuvestment-that Is, paying-property. The great
majority OF such buyers wish TO invest from
$4,000 to $4,000. We have seldom noted a
larger number of buyers for such properties.
TINS demand can now best be filed by snrewd
buyers who Will buy property the out
skirts, on Mission, Valencia. Fillmore, Neal
lister and such streets, build upon 1t. and
can thus turn it into income property. Land
thus Improved can be resold Immediately when
tenants occupy tie new buildings. Increased
inquiry and tendency TO increased prices are
both noticeable in The Pacific Heights region.
The half block on The north side of Vallejo
street, from Webster to Fillmore, has been sold
for $4,000; the northwest corner of Pacific aud
Octayia streets, with residence and lot C72:6x
:e) for $4,000 and the 5o-yara, southwest
corner of Buchanan and Green streets, for
$4,000. Fillmore street, between Union and
the bay, is to be laid in stone blocks at once.
That portion of Fillmore street will certainly be
a business street, and yet lots there are now
being offered al $500 TO $1,000 eacn-s60 10
S64 foot.
There is a very fine demand for lots at $4,000
TO $4,000, between Oak, Waller, Baker and SIAN
too high prices. Except on three or four of the
main avenues nearly all Of these outside land lots
as well as the great majority of those being sold
AT credit auction sale, Will be bought at much
lower prices two or four years hence. The sales
OF last month amounted, We have shown, 10
go. while the mortgages reached total
of S1,565,115 Late credit auction sales Of
course TO be credited with this I'M
usual Increase OF real estate Indebtedness.
II this increase continues break In
Is lOOmc
and boomers always has one result. If 1t were
possible TO enact 4 law that no buyer could buy
LOT unless lie paid at least one third OF tile pur
chase price down. the chief fuel OF booms would
be at once eliminated. In Southern California
one-SiAth to one-tenth cash down was the rule.
The boom rocket, with glowing colors, thus went
up out of sight skyward; II has since come down
as the most prosaie OF sticks.
INCREASED DEMAND FOR MONEY.
There was an excellent demand for money
last month, especially at the Hibernia Bank.
The reduction by that bank OF the interest rate
from to per cent, or say 41S per cent net TO
borrowers, caused a very heavy Increase OF APP
plications for money with lessened demand at
the other savings banks, all of which charge
per cent. Tie total number OF mortgages was
$50; value, S1,565.115. There were 22o
leases, value S7OS,S3l.
REPRESENTATIVE SALES.
The largest sale Of last mouth was that OF the
trinity Church property northeast corner OF
Powell aud Post, facing Union Square. 1926 on
Post by 1875 on Powell, for S243,o Oo The
Iarrott estate bought the property.
The property southeast corner Mission and
julia, between Seventh and Eighth, has been
sold for $4,000. The property is 7ox160 back
10 Mluna street In rear.
The lot, 22:1O1a xl37:6 in size, northeast line
Sieuart, through 10 East street. between Howard
and Folsom, has been sold for 81 $500.
The property south side OF Green 1876 east
OF Devlsadero, 6S:9Xl37:6 in size, has been sold
for S65U0i not yet of record.
Az agreement has been recorded for the sale
OF the property south side of Sacramento 34;4
west of Dupont 80 :SX6S;9 IN size, for $500.
The properly on northeast corner OF California
q In la..,,
sold for $500.
The property on southwest corner Of Twenty
NTH aud Castro streets, Soxll4 in size, has been
sold for $4,000.
The property on north side of Fourteenth
street, loo feet FAST of Noe. 25x125 in Size, has
been sold for $3.50; not of record.
The property on mouth side of Haight street,
100 feel west of Baker, 81 :6x137 &c In size has
been sold for S4S75;; not of record.
Ihe property on south side OF Pine street
1876 feel west OF Laguna, 26x137 :6 in size, has
been sold for $4,000; not yet of record.
1he bO-yara lot, vacant, gu the southeast cor
ner OF Bay and Fillmore streets has been sold
for S9240; not yet OF record.
The 5o-vara lot on the southwest corner of
$4,000
The property on the north side of Page street,
1926 east OF Masonic avenue. 25x1O9, less L In
rear on west 10:6x9. has been sold for S2825.
1be property on the east side of Fair Oaks
street 185 north of Twenty-sixth, 50x125 10
size has been sold for $4,000; mol yet of record.
The property Oh The north side OF Page street,
1916 east o! Masonic avenue, 25X100 In size,
The property ON the south side OF Page street,
100 east Of Laguna. size 81 :6x12O to rear street.
has been sold for $1,000; not yet of record.
The property on The east side of Polk S7:6
south OF Vallejo, size 5Ox12S and 139 In depth
has been sold for $500; not yet OF record.
The property on the east side Of South Brode-
rick street, 1858 north of Fourteenth 25XS6: 3 in
size, has been sold for s14oO.
The property on the east side OF Polk, 81 IS
south of Vallejo, 5Ox1O0 In size, has been sold
for $500; mol YET OF record.
1he properly on the east side OF Albion avenue,
22:3 north of Seventeenth, 36xI2o in size has
been sold for $500; not yet OF record.
1he pro cry on northwest line OF Mission
street between Army aud the juno Ion of Vaen-
cha and Mission, SO feet front by 142 and l66
feet deep, has been sold for SIS, 600; not yet of
record.
The property on west side of Leayenworth
street, 1915 north of Clay, % :6xl07:6 In size
has been sold for S475O; price put in deeds SO
Inc property on south side OF Vallejo street,
100 feet east Of Polk, 5S feet 'front.' 81 &c feet
deep and 80 feet wide In rear has been sold for
$500; not yet of record.
so-CALLED STREET IMPROVEMENTS.
There Is no more dangerous power conferred
upon the Board OF Supervisors than that in rela-
ton TO determining the limits OF the district to
be assessed for tie payment of damages and ex-
penses OF olenng, extending or widening Streets
Nor is there one which is more outrageousiy
abused just now. There may be- and there ia IN
almost every Instance OF the exercise OF this
power, great Injustice and wrong. The only
remedy gwen is that OF lnterposing an objection
by any one Interested, but we all know that this
Is as delusiVe as ii is impOtent. The Injustice of
an Ignorant exercise OF this power IS apparent
IN every case where it has been exercised.
Properly lar distant from the proposed work
has been assessed TO pay for the damages cost
and expenses, on the ground that It is benefited
1t Is only necessary TO refer TO any OF the cases
where these districts have been formed for The
truth OF this. property has been Included that
by no possibility could be benefited by what
is called the work OF Improvement" simply be.
cause the limits OF the district have been guo-
rantly and arbitrarily and therefore uniustIy
liked. Take any case where a district has been
formed and it would require a man with a mi.
crOsCOpe 10 ascertain wherein NJ ha
property could be benefited by tie proposed
work II is very evident that not one member Of
the board could give one honest reason for his
act, or any other reason than II Just thought
So" But these wOud-be benefited lots have 10
pay their share OF the expenses all the same
GROWTH OF THE CITY.
This being the year for taking the census
causes us to observe more closely lie constantly
increasing throng OF people on our streets. We
are making progress toward third or fourth place
among our largest cities Our business streets
are now so crowded that II requires the greatest
care 10 drive through them. Drivers especially
OF llght vehicles try 10 escape collisions by taking
the narrow and less frequented streets when
driving south OF Market. They thus make
better tlme too. Our crossings require officers
TO protect the pedestrian. On our streets more
and more new faces are seen. Our business
buildings are now built on tnat generous man
seen in our largest Eastern cities Our peonle
more crowded for living room, fats have
therefore become necessity. Cable lines go
everywhere In expectation OF the RAPIDLY
spreading population. Our Western customs
and ways are becoming more Eastern and they
nave great heed 10 eDange more and more in that
direction.
MARKET AND SIXTEENTH STREETS swINpIEs.
Two Of The very worst jobs OF all OF the many
Jobs perpetrated against property seem now to
be on the high road to successful accomplish
ment- The nrst Is the change OF the grade OF
Market street from its junction with Valencia
street southwestward. This change OF grade
will necesstate the change OF grade of all OF the
intersectlng streets. and will be an outrage of the
grossest Kind on them without even the pretense
that they VIII get back single dollar In
damages or Increase In value of their
property. Nor Is this all. Many Mar.
ket- street owners have been induced to
agree to this scheme because the contractor for
the job, or bis agents, have assured them tnat
the value OF the land on that street will thereby
be greatly Increased from Valencia to Castro
In our best judgment, this change OF grade Will
not increase tho value OF the land on Market
street one dollar, while IL will cost, It is said,
go 90 per front foot. But bad as the MARKET
street job is, IL is religious scheme, In It's JUS
lice and equality, compared with the extension