The morning call. [volume] (San Francisco [Calif.]) 1878-1895, 1890-07-02
REAL ESTATE.
Condition of the Market During
the First Half of the Year.

Features of Some Recent sales-The Demand
for First.Class Residence Property.
Representative Sales.
From special advance proof-sheets, prepared
| for THE CALL, we make the following extracts
from the Real Estate Circular published by
| Thomas Magee, showing the total sales and most
notable features of the real estate market during
| the first half of this year:
| The real estate sales OF the first half of 1890
had larger value than those of any half year
| since 1876. That was The bonanza year. The
sales then made were mostly OF business or large
residence properties to men who had suddenly
acquired large means by mining-stock gambling,
While the sales of the past six months were
mostly made 10 buyers OF small or medium
| means. This can be Illustrated by q comparl
| son. During the first half OF 1875, 2615 sales
were made of the value OF S23, 1880 while
during the past half year 34Sl sales were
effected OF a total value OF S20245, sol. The
average value OF each sale made IN the first half
| of 1876 was nearly $4,000; the average value of
| each sale for the past six months was about
| $500. The sales for the past six months ex-
ceeded those of The last half OF 1889 by 50, 1000,
| feature Of the transactions OF the past six but
| especially OF The last two months. The mort
| cages thereby have been greatly increased. The
| prices paid by buyers for outside lots were away
| above q fair value. Tie property sold at credit
auction sales was nearly ali OF outside properties;
| mostly in The outside lands. Within the past
| month The credit auction business has eceved
| check. those who desire TO see fair prices pre-
| vail who neither favor boom aud excessively
| high prices CD the one land. nor heavy lall
| and great depression on the other, are glad 10
| this rest in credit sales. They hope 1t Will
! be permanent. The real estate. like every other
| market, has a reasonable range only; II can be
pressed beyond that range only by drawing on
tie future and if that drawing Is resorted TO the
! sales and The prices OF The future must both
! suffer- Or, TO Illustrate In another way; Two or
| three meals might be crowded on a man at once,
| but lie would have 10 pay for the gorge by
| subsequent long fast Those, therefore,, who
greatly 0VeISupply buyers today and whoop up
| prices on them are, 10 an absolute certainty,
| preparing the market Tor long season OF stag
| nation aud falling prices.
| FEATURES OF LATE SALES.
Business property has In all cases been very
| past half year. Prices have In many cases ad-
vanced. Very large priced properties have not
been nearly 20 much in request as those worth
| $4,000 10 100000. The supply OF such prop
| critics has at no time equaled the demand.
| There is now a heavy list of such buyers who
| cannot md the investments they seek, between
| the range of prices named. We note iu-
| creased demand and consequent increase OF
prices for fftyyara lots and blocks along or near
|
| and The waterfront, and Battery and Stockton
| streets. One block at the foot OF Powell and
| Mason streets, on the future bukhead, and not
nlIed 10, was sOId Tor S12,UUu; lie nlly VaiaS oil
| Deacn and Jones' In The water, were sold for
| $4,000, and Tie tfiy-vara and james King OF
| William warehouse Tor $4,000 lie same prop.
| erly having been sold two years and a half be-
| fore for $4,000. Prices on The southern wafer
| front, along East, Steuart and the region
I largest sale there was OF tbs old Pacific
| Mail property, sixteen hfty-vara lots, bounded
| by First Japan, Brannan ana Townsend. for
| S675, 600, win The Oriental warehouse property
| thereon. This property, however, has pract-
cally no waterfront. But the purchase was a
| very cheap and excellent one for the Southern
| Pacific, which company was the buyer.
| ADVANCE IN NORTHERN BUSINESS PROPERTY.
| Mr.. John I. Doyle, the ParOtt estate, aud one
| or Two other buyers were the first persons 10
| perceive hat prices between Sacramento, Pa
| ctbc, Davis aud East were 100 low, and that,
| With the substitution OF fine brick buildings Tor
| lcng-decayed frame ruins, gOOd-paying invest
| ments would be the result. Following their
| lead James q. Fair has since purchased very
| heavily IN that region. 10 complete the invest
menf, each buyer must erect modern brick build
| ipgs This MIR. Doyle aud the Parrot estate
| have done, and MI. Fair is also now making
| some Improvements there.
| FIRST CLASS RESIDENCE PROPERTY AND IFS
| PRICE.
For The past year OIL more the demand for
| frst-elaSs residence property has practically
| been concentrated on Clay, Washington, Jack
| son, PacIlc aud Broadway, belWt EN- Van Ness
| avenue and Baker street, with racine avenue
| as the center aud the street most sought after.
| Other nist-class residence portions Of the city
| have been nearly entirely neglected for the dis
| Irict above named. Here IS u list OF the most
| prominent sales made In that region lately
North SIDE OF Washington, between Laguna and
| buchanan, and near Buchanan. where there is
lille OF no view of the bay, S27o front foot;
sold TOT adjoining owner. $500 front foot
last mouth offered and refused Tor lot on north
| side Pacific, west Of Fnnklin, In The estate of
| Isaac Z. Davis. lot lO0X127:S on north side
| Pacific, between Scott and UeyisadetO was sold
| last month fOt S24O front foot. Twenty-one
! thousand was offered ana refused for LOT on
| northeast corner jackson and Octavia 60 feet
Oh Jackson by III &c ouly Oh Octavia. The north
| east corner OF Pacific ana Oc,avia 1876 GU Pa
| ciic by 1877; 6 on Octayia, was sold for $4,000
| buyer had previously offered $4,000 for This
| corner, allowing the owner to remove the house,
| but this offer was refused, and house and lot
| were both finally sold Tor $4,000 net. Lot on
| the northeast corner Jackson aud Scott streets,
| 65x255:4 TO Pacific, $4,000. LOIS on the south
side OF Pacific street, west Of Frederick, and
| with no view whatever OF the northern bay, were
| sold for S170 per front foot; and on same side
Pacific street, east OF Pierce, at 5000 per front
| foot, With no view In any direction. Land OIL the
south side OF jackson street, no west OF Cough,
| west 125x127:S, sold for S21 ,S75. Lands on
| Broadway, Vallejo, Green aud Union. Win view
| of bay, have ali advanced under the influence OF
| Pacific Heights sales aud prices. Buyers iii ST
| went out TO Pacific Heights, buying only on the
| north side Of lie street, because OF the fine bay
views; but lately tile demand there has been
| mole because the locality Is now the most FASH
| iOnable in the city Than Tor any other reason.
l1and Washington and Pacific would probably
| have goue 10 high prices also, but unfortunately
| at the C. Z. Butler and other sales the land
| was cut up INTO 25feet lots. Pacific avenue
| blgh-pliced land Is nearly all in large lots.
| MEDIUM-PRICED HOMESTEAD LANDS.
The greatest demand for lots from those who
| can afford house aud lot worth $4,000 TO $4,000
has been out III the vicinity Of lie park, between
| say McAliister and Waller streets aud Scott aud
| Stanyan. Lots from Oak to Waller streets aud
| from Baker 10 Stanyhu have all sold well. Lots
there are now worth $50 10 s 100 per trout FOOT.
| That region Is indebted TO cable lines for its
| present value.
Lots in all portions of the Outside Lands have
| sold rapidly daring tile past year, aud generally
| at high prices. The poorest lots brought tile
| highest pToportiouate prices. Buyers WHO pur-
| chased on The Cliff House road, First avenue,
| facing The Park on either front, or on California
| street. made lie best purchases. Other buyers
| may have done well, but the buyers on the
| frontages named did best We look for a fall in
| prices before long of the poorest OF the Outside
| Lands.
| All lots at the outskirts of the Mission, from
| Folsom 10 POtrero avenue well rs land in all
| Of the GIFT Maps, Excelsior, Academy and other
| tracts, have all advanced in value within six
| months, and are all in good demand. There has
] as yet been 10 Imitation there. Prices now have
| about reached the point they were doomed 20
| thereafter the most OF this land could hardly be
| given away. South Sau Francisco aud the PU
| trero ae both rapidly gong ahead In prices, and
| Improvements, especially on the P0lrer0, are
| making rapid headway
| OUTLOOK FOR THE NEXT HALE YEAR,
Real estate Is just now much dulier than 1t was
| two months ago. This, however, is The season
| for duness. Ii does not al present seem at all
| likely that the business done during the past six
months in outside lots Will be equaled during
| the next six. We look, however, Tor good fail
| aud winter trade In all good business, residence
| and homestead properties. We mean By the lat
| Ter, land along or close TO cabe-lines OF cars,
| where the streets are graded, macadamized and
| severed
| REPRESENTATIVE SALES OF LAST MONTH.
The property northeast corner OF Vallejo and
| Battery streets, 1888 on Battery by 1876 on
| Vallejo, IN the block between Vallejo aud Green,
| las been sold for 81 900. There Is a building,
worth lltlle. ana used as came ~, on the lot;
| rents. 1925.
| The lot ON south side Pacific avenue, 90 east
OF Pierce. At 6x127:S In size, has been sold for
| S9500-S200 front foot; the lot adjoining on
iue east 4Ox127 49, has also been sold Tor $4,000;