Los Angeles herald., 1893-01-04
DIRT STEADILY ADVANCING,

/
Pleasant Condition of Affairs in Rea
Estate Lines.
A marked improvement in the state
of the real estate market in Los Angeles
has been observed for some time, and in
order to determine the extent of it 9
HERALD reporter was detailed yesterday
to make an investigation among the real
estate dealers. The general opinion
among them is that the condition oi
affairs here is very much better and
more encouraging than it was last year
at this period, that real estate transac-
tions have acquired healthy tone, that
prices are firm, sales on the increase,
and that every thing indicates for
the near future very solid era
of prosperity. The purchase and sale of
land for purposes of speculation has
been completely dropped, and transac.
tions are entirely confined to people who
wish to secure homes and to Immediate
ly improve the acreage which they buy.
1t will be seen, too, from the express
sions of some dealers, that the demand
for homes within the city limits, even
at some distance from the center of
tcwn, has assumed proportions never
known in the last few years, which
makes it not only possible for them to
place on the market tracts which have
hitherto been neglected, but will assure
the sale OF lots in very short time.
1t would not be possible to publish
tho to 70 of al fbo raol oototo -
orators interviewed, but as they are all
hopeful and corroborative of those given
below, the reader will be enabled by
these to Judge of the condition of real
estate here at this time of the year and
as in comparison with the came period
a year ago.
ter, when seen on the subject ad the
following to say: The real estate mar
ket ehowa considerable improvement
over last year, and the outlook is decid-
edly more encouraging. Some very i'm
portant sales have taken place during
the past year, and in addition there
have been large number Of transac-
tions which indicate that the people
have faith in the future of the city.
The amount of money that has been put
into Improvements is also good evidence
of the faith that capitalists have in the
stability of this city as commercial
and residential center. Sales are larg-
est in the country, and are for actual
Improvements. AS compared with this
time last year there is vastly improved
feeling. The advent of manufacturing
establishments is another instance OF
the faith of capital in this section.
Prices for real estate have reached the
bottom line and there is tendency to
an advance rather than to falling off
at present. We regard this as about
the best time to invest, because the mar
ket seems to have an upward tendency.
Wefeel mo1e encouraged today than we
have been for long time.
Nolan & Smith-The real estate busi-
ness is in healthier condition now
than it has ever been. We are selling
a good deal of property, principally
acreage, and prices are great deal
frmer than heretofore. We sell consid-
cradle orange land, principally towards
Fullerton and in the foothills in the di-
rection OF Glendale. Calls for city
property, with US at present, are con-
fined to cheap lots upon which build
ings ON the inHtallment plan are erected
by the purchasers for themselves. To
show you that there is considerable de-
mand for that kind of property we are
now preparing an advertisement for the
HERALD for the sale OF number of lots
on Pico Heights, on particularly easy
terms andswith some valuable induce
ments. and we are satisfied that these
lots will be disposed of in very short
time, without the slightest trouble.
S. K. Lindley-Business is much bet
ter than last year, and there is more in.
quiry for real estate. People buy for
improvement only, not for speculation
as of yore. Last year wss very dull,
but now assure you that the outlook
isauite encouraging. Lands, OF which
| am the agent, in Fast Whittier, are
selling rapidly and all for improvement.
Where last year not an acre was sold,
whole streets are now disposed of.
Grider & Dow-We find that in acre
property actual sales are at least 50
per cent better than they were at this
time last year. We have seven distinct
sales today, not exchanges, mind you,
but actual sales. We have tract now
that has lain dormant all this time, no.
body wanted anything to do with it, but
now we are going to put it on the mar
ket and offer it for sale in the HERALD
next Sunday. Prices remain just about
the same as last year for acre property,
but in certain portions OF the city they
have advanced. There is no such thing
as speculation now, all land that is
bought being for immediate improve
ment. Just this time next year Los An
geles will be right in it, mark my words.
M. F. O'Dea-The markets tone is de-
cidedly better, generally speaking. There
ls not the urgency to sell that there has
been. Prices are. slightly better than
last year. My experience is that city
and acreage sales are shout equal.
Cuddy & Stoughton The sales as com
pared with last year are very much i'm
prtveo. Prices have increased little
bscanse a great deaf OF mortgaged prop.
erty has been sold of. There is coneid-
cradle demand for acreage for immediate
and money is easy.