The herald., 1893-01-18
SOMETHING ABOUT LAND VALUES.

From time to time there is a great
deal OF talk about the high prices asked
for land in Los Angeles county, and it is
generally OF the injudicious sort.
Whatisia high price for land here? !?
We are now alluding to the distinc-
lively semi-tropical lands, or rather. 10
lands capable Of raising the semi-tropic
fruits in addition to the products of the
temperate zones.
Itisusual to say that during the boom
people went wild, and that prices of
real estate were sent skywards There
is no doubt whatsoever that there was
great deal Of reckless speculation dur.
Ing the boom, and much foolish cutting
up OF valuable acre property in the
country into ridiculous town building
lots. This last folly, it is safe to saw.
VIII never be repeated. But, after all
Is SAID and done, property in the central
portions OF the city of Los Angeles com.
mands today an average of % per cent.
more for Investment purposes than it
did during the boom. There is no ex-
aggeration i'm nfthis statement. And it
commands this enhanced price because
1t is worth it. People rarely indulge in
sentiment in such matters, and Los
Angeles city real estate has slowly but
rurely worked its way to something like
its rightful value, although far more
money will be made by enhanced values
in the future than has been made in the
past.
1t is true that acre property has not
yet recovered itslegitimate price. When
one comes to an acre of land in Los An
geles q San BernGrdino county, with a
perfect water-right and eligibly located
as to railways, schools, churches, etc.,
it is hard tosay bow much it is worth.
There ID one thing about the purchase
and improvement of residence property
here that applies to no other region we
are acquainted with, and that is that
beauty and utility, pleasure and profit,
are here combined. A citizen of New
York goes up the Hudson and buys and
beautities place, Not for one moment
does it occur to him that he will ever be
able to reap dollars worth of profit
from his investment. On the contrary,
he expects to be putting out money con-
stantly, and if he essays playing the
role OF orchardist or farmer his friends
meet him with an amused smile. They
are wont to indulge in little SUNG of
arithmetic as to how much his pota oes
and peaches cost him apiece. and 80 on.
The case is very different here. The
fact is that man can create an abso-
lutely ideal home in Southern Califor-
MIA, IN a lew years, and yet make it
source OF profit. The vegetation from
which he would derive income is the
most. gracious in the world. He will
probably select the citrus fruits as bis
principal source of revenue. What
could possibly be more romantic or
beautiful than home embowered in
orange trees IA tree which Lord Byron
placed at the head Of all arboreal ma
ture for beauty. Suppose he has bought
twenty acres, and set them out to
budded oranges or TO lemons? Nothing
is more Certain than that, in five or six
years, ne will be deriving an income
from them sufficient to maintain a fam
lily in luxury. In ten years, if he has
selected his location with judgment, he
ought to be assured an income of from
$4,000 TO, $4,000 a year from his or
chard. lpfoviding that he has selec.ed
the very best kinds Of stock, and has at
tended ITO eita cultivation properly.
These figures look large, but they have
been realized in the Duarte, Asuza, in
Riverside, and score of other
places. Saying that the thing
looks .Utopian does not make it
90. II is prosaic reality. 1t
is thing easily verified that
more than $4,000 have been paid for the
fruit off of eingle acreof land in South
ern California covered with a mature
orange grove. The figures look large,
Ind they are large, and are not intended