The morning call., 1892-03-03
THE REAL ESTATE MARKET.
Extrvcts From Msgee's Real Estate Cir
For Eo

Extrvcts From Msgee's Real Estate Cir
GUAR for February.
The following is quoted from proof, OF
Thomas Magee's Real Estate Circular. de-
voted to real estate transactions during the
month of February:
The real estate market Is now in the con-
diton that has characterized 1t during the
past ten months. 1t is at once dull and ac-
tive-dull for n0n-productive property, and
active for all good retail property paying
fair income. There is good demand for
lots on Sacramento, Clay. Washington and
jackson, west of Central avenue. More
new houses are going up there than In any
one other district of like size.
There were 452 sales during the month of
February, amounting in the aggregate TO
S1.2l8,SS9.
The impression has been created that the
interest rate will be reduced before long
from to per cent, the savings banks hav-
Ing surplus OF money on hand, and the
demand fer money has been light; but the
ruling rate OF per cent still remains on
city loans made by savings banks, the
banks paying the mortgage tax. That the
interest may be reduced is not at all likely
at present There were 49, mortgages re-
corded last month of the value Of 81, 4S2 S5S
and 2S5 releases Of the value OF 81, 154, $50.
Our ten savings banks have now SIS 644-
294 loaned on San Francisco real estate and
S35, 076, 225 on lands in other counties. OF
this latter sum two of our savings banks,
the German Bank and Savings Union, have
S13, S06. 100 ami Sl3, 2T9 040 respectively. or a
total of 81. oS5, 100 in al cut on loans in the
country. Each of these banks has about
tWo-thirds of all its loans out on land in the
interior, where an average OF per cent per
annum over city rates is earned. The pres
ent tendency, however, is 10 reduction of
the country loans held by city savings
banks. This reduction is due to the compe-
ution of interior banks They do not lend
more cheaOly than city savings banks. but
they will lend 60 per cent or even
more of the value of agricultural
and grazing lands if slightly
higher rate of interest is paid them,
while city savings banks Will only lend 40
per cent. The interior banks will make
some allowance in lending where the land
is in trees and vines, while the city banks
will not. The city savings banks Will not
follow the example of interior banks in
lending with less margins than heretofore,
but viii prefer 10 lose the loans.
The Controller of State has Issued table
showing the assessed value of the real
estate in all Of the counties of the State.
The total amounts to S7J9, S65,9l2. San
Francisco County, of course, leads Its
real estate and Improvements are assessed
for State purposes only at $751;. S69, $50.
Alameda comes next, So, 951 800. Los An
geIes Is third. It's real estate and improve
ments are assessed Al ST., Gas, 996
The following is list of representative
sales during the month:
The property on The northwest corner OF biz
teenih and West Mission Streets 75XSO in size,
$4,000. Lot on the north side of Clay street,
1856 west OF LagGBa, 60X127 IS, $4,000. A
frontage OF 229:2 Ieet on tie nor INV; 81 side of
Steuart SIRE |, between Mission and Howard,
has been leased fOT ten years at $500 per month;
the land has depth of 1877 :6 feet, and runs back
TO and has also frontage of 229:2 feet ON East
street. NOilh side OF Tweuty-Gourth street, 10
east of Harrison, 25x104, S2750 North side OF
Pacific Streer, 114:6 west OF Hyde. 23XS7:6 tn
size. $1,000 North side of OFarIell street 100
east Of Cough, 27:6xl2o, $3.50. The livery
stable property Oh The Moth side Of Pacific ave-
nue., 49, east OF Van Ness. "a :3x127 IS. less l.
In rear on west SO :9x4O:6, $3.50 East side
of Noe street, 230 north of Foureeuili,
25I1S2 IN size, $500; D0t yet of record.
No:Ih side Bush. 81 IS east of OciayIa, 3Ox120
to rear street S9225; price put in deco. $40.
West side Maple, 1923 feet north of Sacra
mento, 25x137 IS, $3.50; not yet Of record.
East side 0ciayia, no feet north OF Union,
21:6X137 IS, $1,000; not yet OF record. South
east corner Polk and Broadway, 1877 :6Xl37 81
S24.5OO: not Yet Of record. South line Caiifor-
MIA. 100 west Of Dupont, 81 GAGS -, 5000; not
yet of record. Wet side Fillmore, 1896 feet
record. Northwest side Park road, 294 feet
northeast OF Frederick. So: feet front by l72
and $50 IN depth, $4,000; not yet OF record.
West side Walnut, 100 south OF Jackson, p SIX
1876, $500; mol yet Of record. Northeast side
Tenth, 226 southeast OF Howard. 50x100 $500;
not Yet of record. West side Buchanan, south
Of O'Fairel, 25x9o, $500; price put In deed
$40