The morning call., 1893-07-22
INQUIRY is GOOD.
Intending Buyers After
Real Estate.
BANKS BEGINNING TO LOAN.
Owners Should Accept Fair Offers
for City Property, as Purchasers
Lack Courage at Present.

While the real estate market was dull
during the past week there was a good
deal OF inquiry for city property and OWL
ers held out for firm prices. The large
volume OF inquiry was nearly altogether
prompted by the idea that money can be
got from the banks within the next week
or two. This in itself must be accepted as
reassuring indication of good faith in
real estate, for the demand denotes a gen.
eral desire to invest freely, and all that re-
mains in tie way of an average summer
movement is lack of ready money. Quite
large number of transactions are lying in
abeyance at the present time solely on ac-
count of the banks declining to make lib
eral allowances. 1t is this and nothing
more that leaves the market quiet, not any
want of confidence In real property nor
doubts on future values.
The tone of the market is firmer, as
money is growing easier and some savings
banks are beginning to loan on city prop
erty at the customary 60 per cent of valua-
ton. The Hiberna Bank has made a good
beginning. Feeling that the market Is
tirmer, owners of property may be tempted
to hold out for better prices. Real-estate
men say this is mistake. II owners get
a fair offer they should take it, When the
finances Of the country become settled,
however, real estate in San Francisco will
be eagerly sought as an investment.
After the momentary paralysis OF the
money market 1t is conceded by real
estate men that the matter of greatest I'M
portance to San Francisco is the work
begun and so far successfully carried on
by the Traffic Association. Whatever
ostentatious or plausible scheme that
would tend to divert attention from the
valley railroad, competing ferries. lines of
steamships. etc., may arise. many OF the
best men in real-estate circles place but
little confidence in it. What will be of
permanent benefit to the city's commerce,
they say. shsuld receive undivided atten-
tion, because it will work real and true
benefit to real estate.
During the week fair activity in build
ing has been noted. Some very extensive
plans are under consideration. and build
ers are kept pretty busy. The following
notes show what is doing:
Among the transfers of city property re-
corded Thursday was 50-vara lot on Me-
Allster and Scott streets, sold by A. B.
McCreery and the estate OF John Sullivan
to jeremiah and j. j. Mahoney for S25, 900.
Thomas MaRee sold lot on Fl bert
street. 100 leet west from Fillmore, 81 6x
1877 :6. for $1,000.
The Savings and Loan Society trans
ferred lot on Harrison street. 275 west of
Second. to Thomas p. II. Whitelaw, 125x
100. for $4,000.
Contracts have been let for two-story
pressed brick and terra Gotta building on
MeAllistcr street, near the Hibernia Bank,
The cost is placed at $25. 900.
Elaborate plans are being prepared for
clubhouse for the San Francisco Verein,
which occupies rooms at present over the
Sutter-street market The new building
t, ha fa1 OF
streets. 1t will be handsome structure
In stone. pressed brick and terra-cotta,
three stories in height. and will cost
SIS. 900.
A three-story frame building of six flats
Is to be erected on the southeast corner of
Filbert and LeayeHw6rih streets at cost
of S13. 462.
Forl'Sg sts on Bartlett street. between
A frame structure of three stories, to be
fitted uD as re'sal' stores and fats. will be
built on the northeast corner OF Ninth and
Clementlna streets. The contracts let this
week amount to $500, but nearly as much
more will be expended before the work is
Filling in the water property of Senator
Fair, between Harbor View and Fort Ma
son, has begun. This signifies activity in
realty OF that district, as we'll as tho ex-
penditure of a million dollars in wages
and material. With wise regard for the
importance Of these improvements. Fisher
d Co. have already placed subdivision
of good dwelling sites on the market.
1t is now known that the property re-
Gently purchased by the Market-street
Cable Company at Eleventh, Bryant and
Channel streets is intended for power
house for an electric line to the Potrero.
This proposed street railroad will develop
considerable property, which although
within stones throw of Market streer.
has been waste for years. Once the line
is built, Southern Heights, overlooking
the city, will be greatly enhanced in value.
Two auction sales are announced to take
place this week. Easton. Eldridge & Co. |
have a we'll selected iist OF buslpes. and |
Co present quite as attractive lot OF
offerings for their public sales. The former
will be held on Tuesday ard the latter on |
Thursday.
Reservoir Hill. out on Market street, |
opposite Ridley, Is beginning to disap-
pear and will soon be a thing of the past. |
The contractors are opening Ridley street. |
and subsequently Buchanan will be cut |
to Market. Then the hill will be |
removed and as consequence property in |
the immediate vicinity will find material |
The Highland Park property. owned by |
c. Sessions, in Oakland. will be offered |
at auction on August 5. As this real estate
IS classed amnng the most desirable in |
Oakland for home sites, because Of its |
charming location and accessibility. being |
,n the line Of the He, hland Park and |
Fruitvale Electric Raills,ad. the sale is al
ractlng much attention cross the bay.
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