The morning call., 1893-10-07
AT FAIR VALUES.
Reasonable Offers Taken
by Buyers.
REAL ESTATE AND MONEY.
Promise of a Good Winter Trade
Given by Sellers Beginning to
Come Down in Prices.

IDere Is D6lI6T l6tliuo III ZIG looi
estate market now than there was month
ago. There is more inquiry for city prop
erty, and brokers are looking for very
fair business this winter. provided owners
do not advance prices again. Whenever
a disposition to buy is manifested owners
get rather extrayagant ideas, believing
there is going TO be boom in their re-
spective districts. This very thing is said
to have been the cause of much stagnatlon
here, for San Francisco has always had
good real estate business at reasonable
prices. Buyers are plentiful enough now
when fair values are placed on property
for their consideration, which has been
demonstrated by auction sales, wherein
land brought its average value.
There is quite demand for low-priced
lots in the Mission and Richmond. as
people who have few thousand dollars
show desire TO invest in city lands at
figures ranging from $1,000 to $4,000. The
savings banks are paying amounts rs high
as $1,000 to depOsitors, whereas they gave
olly $500 or $500 up to few days ago.
Those W ho have made requests for money
classed as term deposits are being paid
now.
A comprehensive view Of the present sit
Estate Circular as follows:
The real estate market is now entirely de-
pendent upon the money market. very llttle
can be done I'D really until money becomes
easier. The brisk sale OF lots from one TO nve
thousand continues; for larger properties there
is much better demand than there was one or
Two months ago. he marked dullness OF the
past two months can partly BE- accounted for
by the reason OF the usual summer dullDeSs and
tile number of people who have gone or who
have been saving 10 go 10 ihe NoriuS Falr.
The light money market was not the sole cause
of the quiet real estate market lhe bargain
hunters who have been waiting so long for pur-
chaSes are beginning TO ind satisfactory In
vestments. Sellers as rule have held very
firm during the yt ar, but they now are begln-
ming 10 reduce their asking prices 10 ruling
figures. This fact alone gives promise OF fair
fail trade. There Is good demand for homes,
especially IN the Pacific Heights district;
There were 2S4 sales recorded last month OF
the total value OF SS75,265.
There were 236 mortgages recorded this
month, OF the total value OF SS93, 1S3, and 13S
releases, of the aggregate amount OF SAG, ,567.
The condition of the money market is i'm row.
ing. Except for the necessity OF paying taxes
in November, and OF making provision for div-
dends in January, the banks might be expected
10 loan at an early date. AS IL Is, there Is little
probability that any loans will be made before
the new year. Banks are now receiving the
usual number of deposits, but In smaller
amounts.
Considerable private capital is finding
now that savings banks are looking after
themselves. One loan of $4,000 was made
this week at per cen. from this source.
That real estate is considered worth put
ting so much money into at such rate OF
interest is proof enough of the con fldence
it maintains. There is au abundance of
money in San Francisco, and as it gradu-
ally moves from safe deposit vaults the
dullness is passing away.
1t may be worth while watching Rich
mond il all the rumors OF Improvement
out there be true. Anyhow, there Is a
certainty OF vast changes in this district.
A contract was let yesterday for grading
Ninth and Tenth avenues from Z to ID
streets, and also these streets with the
block iDclosed by them. ID street to
Twenty-fourth avenue is to be opened,
aud Twenty-fourth avenue from Point
Lobos avenue 10 the park, and also Thlr-
teenth avenue between the same lines.
Grading Sixth avenue is nearly finished
between Point Lobos and ID street An
arrangement has been made between the
Market-street and Powel-street lines to
lay tracks and run cars as far as Nine
teenth avenue along ID street. 1t is gener-
ally supposed now that scent fares 10 the
ocean beach are as far off as ever, owing
to the consolidation of the three compet-
ing liEes.
Dissatisfaction is showing itself over
Park The figures and letters are not dis
tinctve, some residents of Richmond claim,
and 1t is likely the question will be de-
bated by their Improvement club.
The building statistics for Septembe
show that 55 cont BtractS were recorded in
this city, aggregating S4S6.301. In Septem-
Der. 1892. SO contracts were let,
amounting to S504, ,4S4. Minus the Mid
winter Fair buildings contracts, which so
far amount to S2S5,163. the normal figures
would fall far below the average.
Bids were opened yesterday for two
story building at Eighteenth and Castro
streets, to cost $500.
Contracts as follows were awarded dur
ing the week: Factory and warehouse,
Main street, near Mission, $500; founda-
ton for electric light company's water tun-
mel, foot of Main street. Sf2,530 three
story and basement fat building, Clara
street, near Ritch. S3340.