The morning call. [volume] (San Francisco [Calif.]) 1878-1895, 1890-10-19
REAL ESTATE
INTELLIGENCE.
The Market and Outlook Dis.
cussed by Wendell East0n.
What Inexperienced Solicitors Have Been Dc
ing-Capitalists Looking Toward This
City-sales and Notes.

Mr. Wendell Easton of Easton, Ed
ridge & Co. was found in his Office on Friday
afternoon and, although busily engaged in
the transaction of the firms business, he very
courteously received The CALLS real es-
tate representative. In reply to many ques
tons concerning the market and outlook,
he made the following statement:
The real estate market is certainly in q
very peculiar condition owing directly to
one fact, that such diversity of opinion
prevails betNe the sellers OF property and
purchasers. There has been no trouble
during the Iast season in selling desirable
property at fair value, but peculiar ele-
ment has prevailed during the past year or
eighteen months which is now bringing
about direct result. During the past two
years large number of new firms have en-
tered the business, and alth ough many of
them are competent and reliable people, still
there are many who are perfectly unreliable.
n st OF the newcomers in the business
have limited knowledge OF property and
practically no experience in the way of real
estate. W no have sought to create business
by employing solicitors, being men formerly
employees of older houses In the business,
and in exceptional cases fairly informed
with reference to values. These sOlici-
tors have been clothed with a certain
amount of authority as representing such
houses, and, approaching owners, have
only been able TO do so with people with
whom they have no acquaintance and no
standing by strong statements made with
reference TO offers they can submit to own
ers for their property. BY degrees this
method of operation has grown TO mislead-
ing owners with reference to the actual
value of their property. In some way it has
been a benefit in the last two years in stimu-
lating prices, and San Francisco property
has shown some material advance in the
period indicated, but in my mind, in some
respects, not healthy advance. AT the
same time there have been many factors
which have worked to the advantage of San
Francisco. the principal one of which is
concentration of capital in the great
metropolis of the Pacific Coast. Employ
ment has been ample for all seekers for
legitimate labor. and wages have been main
tanned, and naturally an accumulation
OF capital has taken place in the hands of
the people generally, and about the only
avenue of investment has been in real es-
tate. Our savings banks, although taking all
ordinary deposits offered, are not inclined to
take large amounts, and necessarily this is
working very much to the advantage OF real
estate In addition to this, while the nte-
rior of California has made extraordinary
growth in the last five years, within the last
twelve months a large element OF capitalists
are turning from the Interior Of the State
toward the city. and quite number are
making investments in city property. am
inclined to think that we are at turning
point now in which San Francisco is obliged
to help herself. l do not believe we are
going to receive much help from the outside
world for the next year or two, and it is for
US to consider how we can best bring about
favorable results toward maintaining our
position.
| am informed that An experiment is
under consideration among certain real
estate houses in the business in organizing
real estate exchange, having in view some
programme for a reduction of expenses and
improving the methods of handling the bust
ness or in some way bringing about con-
centration Of real estate matters in few
hands. thinking possibly that the firms in
terested in the movement will receive some
direct benefit Most of the old-time and
representative houses are not inclined to
this proposition, but as far as our house is
concerned, although willing to cooperate
in anything that Will create business we are
not disposed to enter any combination or
trust to benefit a few houses to the detri-
ment of large number Of legitimate real
estate brokers and operators. / have always
been firm believer in competition in bust
ness and / believe it is most important
factor in the real estate affairs and especially