The herald., 1893-02-06
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Conversations With Land Ex-
perts.
indications That Land Values Are
Jumping Upward.
Real Estate Men Agree That the De-
mand for City and Country Prop
erty Is Constantly Increas-
ing at Good Prices.

That the real estate market is in
most healthy condition is shown by the
opinions of the leading real estate deal
ers, who were interviewed Saturday by
HERALD reporter. There is good
demand for both city and country prop
erty. The large number of eastern
people now in the city are on the alert
Tor bargains, and are investing their
money freely. The transfers show that
the real estate market iH reminiscent OF
the boom days of 1886 and 1887. and
that land in all directions in this
county is advancing in price there is no
doubt. There has never been more
prosperous winter in this section, and
today Southern California lands and
city real estate in Los Angeles are
eagerly sought after, and the price of
lands is rapidly on the increase. What
some of our real estate agents say is of
interest, as will be seen below:
George D. Belts of the firm of Belts
& Silent: "How about the condition of
the real estate market?' asked the
HERALD representative.
"Well, that is hard question to ans
wer, at present there is feverish state
of things, bordering upon boom, but
we do not look for nor wish to see one
such as that of few years past, the in
dications rather point to a steady rise
in values, while desirable property is in
brisk demand, both city and country.
We made one sale of young orange
grove last week, 20 acres for $4,000;
also presented two other excellent offers
on improved acreage but they were re-
fused by owners who would have been
glad to accept the same proposition
few months back. In city realty good
business property need not 20 begging.
In fact there are several large negotia-
tions now pending while houses and lots
at from $500 to $4,000 are the most
sought after. One need but look at the
numerous new structures now being
built or to try and rent a desirable
house in order to fully appreciate the
condition.
E. R. Pirtle of the Pirtle Real
Estate and Trust Co.: "What is the
present and future state of the real
estate marketP" asked the reporter.
We'll, sir, the most convincing wayy
to answer that would be for you to
spend an hour or 40 in our Office and
hear the inquiries of intending buyers
from the east, as we'll as capitalists who
live here. They are twice as numer-
lous now as they were year ago, and
they are not only talking but are buy
ing. Not only this indicates an influx
of eastern capital seeking more profit
able investment, but our numerous in
lquiries and sales of stocks and bonds
confirms the fact that Southern Cali.
ifornia real estate and securities are
rapidly increasing in public favor and
confidence. The time is not far distant
when every foot of land in this southern
coast will be eagerly sought after and
command high price. Within the
next few years Southern California will
be filled with people and the nation
astounded with it's wealth and beauty.
] am not alone in my conviction of this
fact, for l find many we'll informed men
who entertain like opinion"
Mr.. Norton of Norton & Kennedy was
asked, ''Tell US what your opinion is
of the real estate situation" by the
scribe.
"The past week has shown a marked
activity all along the line in real estate.
Especially is this true of small acreage
for immediate planting, while small i'm
proved homes of 10 acres that are pro-
ducing an income are much sought after
at fair prices. In city property there is
good, healthy demand for moderate
priced building lots, and sales this week
have been quite satisfactory.
"Moderate-priced houses and lots in
good locations are meeting with prompt
sales when the prices are right. There
have been few instances this week
where owners have refused to accept the
prices they listed their properties at,
holding out for an advance. The in
quiry for both city and country property
reminds one of the boom period, and
has not been as good at any time since
as at present.
1.-THE majority of the sales made by us
the past week have been for spot cash.
We are desirous OF increasing our sales
in the San Gabriel orange tract, and will
make most liberal terms to parties that
will improve this spring, and invite con-
templating purchasers to ride out with
us and see the finest tract of gilt edge
orange land in the famous San Gabriel
valley"
Ben. E. Ward af Ward, Clay & Co.
was next called on. "Mr. Ward, you
are an expert in the real estate line;
give US your idea of the present and flu
ture status of the Market propounded
the pencil pusher.
"You ask what think of the real es-
tate market and its future prospects as
regards Southern California. have
sold good deal of real estate in the IL
years have resided in this city and
county, and feel safe in saying that
expect to sell much larger amount the
next 10 years than / have in the past 10.
The immediate prospect is fair, but the
more remote future will be much bet
ter.
my advice would be, especially to
those who have plaster on their
property, be it large or small, to sell, at
their price If they can, and if not, sell
at any reasonable price they can get. l
honestly believe that the prosperity we
all look for, hope for and expect will
not be fully realized until many people
who are now paying interest, and in
more ways than one are, as the saying
goes, packing dead horse.' Get out
from under and stop paying this inter
est; and that is why 1 say sell at the
best price possible, but SELL The great
est mistake made in this city today is
made by the property owner who takes
as precedent of values the price paid
or asked during the boom. There is a
good market now but the time will
come when man, if he is
independent of the money lender can
Terrible Misfortune
MANY SUFFERING FROM IT ToDAY-The cry of
misfortune IL never heard without responsive