Los Angeles herald., 1893-01-14
REAL ESTATE JUMPING.
A Very Encouraging Condition OF
Affairs.

A Very Encouraging Condition of
Affairs.
The tone OF the real estate market in
Los Angeles county continues to i'm.
prove. During the seven working days
which have elapsed since the first of the
year up to yesterday morning, sales had
been placed on recerd in the court
house amounting to more than $500, 900,
beside considerable number of others
in which the consideration was nomi-
nal. This does not mean. of course,
that the sellers content themselves with
81 or IS for valuable realty, but it does
indicate that for reasons best known to
the parties to the deeds they are un-
willing that the amount paid shall be
known to the public. The daily aver
age of sales for these seven days, on
known figures, is over $4,000.
AS will be seen from few of the sales
mentioned below, which are of consid-
erahle magnitude and not likely to oc.
cur often, such an enormous daily aver
age cannot be sustained constantly; but
the prospects are that $40 900 to S5O, 600
per day may be counted upon safely.
Many email sales are the order of the
day and are by no means confined to
city property. Acreage is selling we'll
in parcels Of limited extent, and eales
embrace localities in every part of the
county. They run all the way from $3.50
to $4,000, and thoee are the ones that
swell the daily mean amount of sales.
Messrs. Nolan 4 Smith report the eale
OF their cheap lots at uniform price, ON
Plco Heights, as very fattering, the de.
mand for them being indications of the
desire of artisans to purchase homes in
suburbs which, by reason of street-car
facilities, are net too far removed from
their places of employment. The large
tract on Pearl and Georgia Bell streets,
which Grider & Dow are placing on the
market, is the subject of much inquiry
among intending purchasers, but it is
not quite ready yet to be disposed of.
Among the large sales reported in the
recorders office since January Sd is one
for property in the Rancho de los Buyes
which was purchased by jose de Arnaz
for $23, $40. The most important action
during the week was the purchase by A.
j. Stimson of lot s, block 16, of Han
cocks survey of Los Angeles city for
100000. W. H. Stimson also bought
some country property for 100000. M.
Swiler acquired some acreage in the
Rancho San Francisquito for $15 600.
The Wiley property on the west side of
Broadway, between Fifth and Sixth
streets, which was acquired by W. H
Perry some years ago for less than one
third the amount it sold for three years
ago. went to d. Remick for $40, 600.
Lots 81 and 62 of the Park Villa tract
found purchaser in M. E. Spencer for
$4,000. and the southwest corner of the
Reed lot, on Upper Main street, sold for
$4,000.
When it is borne in mind that the
purchasers OF property are strictly buy
ing realty for the purpose of immediate
improvement and not with view of
ultimately speculating therein, it can be
seen at glance that the prospect for
1898 in Los Angeles county is fatter-
ing one. The building boom must be
benefited by the tendency of the prin-
cipal city really purchasers to place
large and substantial edi6ces upon their
land, such, as for instance, the Slim
sons', who have and are now beautify-
ing Los Angeles with blocks of which
any city might with reason be proud.