The morning news. [volume] (Savannah, Ga.) 1887-1900, 1890-09-05
REAL ESTATE.

REAL ESTATE.
The year just closed was peculiar one in real
estate transactions. Its most marked features
were the sharp advances in prices Of suburban
property. What the more conservative oper-
ators regarded as very full prices were paid for
acre property. heretofore considered only as to
It's value for producing early vegetables In this
species of realty there were large transactions,
and considerable money was made by Subdivid-
ing and selling upon very small cash payments,
aud upon very long time as to the balances.
The ultimate effect Of this class OF business is
not good for the general interest, as the loca-
ton of some Of the transactions is such as to
give no promise Of appreciation for years
to come. Much of the acre prop
erty referred to is held intact. however
by syndicates, regularly incorporated, aud re-
ceiving their capital from the subscribing share
holders in monthly installments. Many of the
purchases being made upon easy terms, these
syndicates can easily meet the payments, re-
ceiving the capital in the same manner. The
formation of these syndicates gave a great i'm
petus to prices, and added largely to the aggre-
gate transactions OF the year. This aggrega-
ton of capital was OF great assistance to real
estate dealers, and added much to the strength
of the market. In the event of disaster prices
can be upheld and property saved from sacri
flee, as the corporation is more apt to be able to
hold than the individual would be. The
shareholder may have to sacrifice
his shares, but the company need
not, of necessity, be affected thereby.
The large number of these syndicates or com
pduiSS WHICH have Dotu Incorporated during
the last year is the subject of general remark
While all is true that has been said of this as an
element of strength in the market, the fact
should not be lost sight of that unless con-
servatism characterizes their management
harm will result not only to the individual com
pany but also 60 others of similar character 1t
should be remembered that the mere sub
dividing of land does not, per Sc, add to its
value, but improvements of a character to add
permanent value and TO increase it's desirabilitv
for homes must be made. The company that
honestly strives to give the most of real value
to its lotpurchasers will give the best return to
volume of business done in property
in the older portions OF the city during
the year, and the transactions were
characterized by their boldness and apparent
anticipation of increase In values. Many
fancy" pieces in favored locations were sold at
large figures, evidepcing the strong faith in the
future of the city. It is. noticeable that indi.
viduals who have been waiting for years to pnr-
chase homes, realizing that opportunities are
constantly being lost, have purchased fine prop.
critics at full prices. In all classes of realty the
volume of business was several times larger
than in any previous year In the city's history,
Owing TO the fact that many ssles were made
without the Intervention of a broker, it is i'm
possible to give statistics, but it is very safe
estimate to- place business in realty as four
times greater than that OF last year MANY
very handsome private residences were erected
besides large number Of houses for renting. II
is gratifying to note that the architecture and
luItElOE nnlSn VI JQo ldCt0T were much O6trAr
tha1 in houses erected in previous years, and
will compare with the rented houses of
any city. From having been a city of
butt few buildings. either public or pri
has become a very handsomely built city. and
the visitor here can now find structures that
will please the eye OF even professionals
Despite the large number OF dwellings erected.
houses is far from being supplied. Every wear
this demand has been increasing and last wear
the city lost population by reason of the lack of
dwelling houses The price Of vacant lots has
been bar TO building to some extent Prices
north OF Anderson street have advanced TO
point that will compel operators to utilize the
many beautiful sites south of Anderson. ao1
which can so easily be made the most delicht
full residential section. The early completion Of
new lines of street railway. operated by electric
motors, will remove one great objection to that
section. and enable residents to rapid over
come the distance intervening between home
and work. The companies owning the land ~.
ferred to cannot afford to wait for
the city to provide water and sewers
but must make these improvements them.
selves, and the resulting benefits will be hand.
some returns III dividends. One of the most
gratifying signs of the times is the almost mi.
versal conf ience among the people in real
estate as an investment, and in the future of
the grand old city. The cty's superb climate
and extreme healthfulness are gradually he
coming known and appreciated as a winter re-
sort, the city acquiring a well-deserved reputa.
zion. Ibat this is true is shown BY the largo
number of visitors who fill the city's hoteIs
With two railroads recently completed to this
point, two others being built, and to be com.
pleted in less than year, aud others havinr
TINS as their objective point, but one result can
follow. and that is large influx of population the
doubling OF the size of the city, and an enhance
nent of values Of realty comparable TO moth.
ing ever known before in the south. Savannah
Is destlnedto be In commercial Importance the
lea ling seaport OF the south, and in five wears
q, 200. pF-@'ion Vi
Inc factors that will produce this result ara
Is therefore, safe prediction that to the in,
weston In Savannah real estate will come in
profits surer and larger than can be sr,ao,a ~
from any other investments. soS'eu