The herald., 1893-02-04
REAL REAL ESTATE ESTATE IS IS ON ON THE The JU4| JUMP
A Comprehensive View of the
Situation.
Pertinent Opinions from Men Whc
Know Whereof They Speak.
The Santa Fe Company Ready for the
Demand = Other Indications
That tho Boom Is
at Hand.

That the real estate market has inn
proved since the fret of the present
year, no one who has paid the slightest
attention to such matters can doubt for
moment. When Dan Mcfarland. one
OF the largest and most successful omar
ators during the boom of five years ago.
remarked the other day: II have sold
more property since the first OF this wear
han during the past three years." he
became the mouthpiece of every real
estate agent in Los Angeles, for all have
had the came experience.
Not only is there better demand for
real estate than there has been for sew
eral years past, but prices are jumping
up in all quarters of the city, and coun-
try property is out Of sight in many
localities.
Every overland train brings number
OF people who are anxious to establish
homes here. The Santa Fe railroad peo-
pie, and especially Land Agent McGin-
nus, realize the significance of the move
ment on the part of eastern people, and
they are preparing for the boom. Sew
eral OF their tracts are being subdivided
and cut up into 10, 20 and 40 acre tracts,
and Will be put on the market in the
near future. Land Agent McGinnus.
who has a very long head, has made
several trips east of late, and he is posi-.
tive that the real estate business will be
better this year and next than ever dur
ing the boom OF 1886. Speculation will
not be 60 wild, but there will be a
greater number of sales, and land will
be improved as it never was before on
this coast.
The pioneer real estate dealers are in
better spirits and all are confident that
better times have already set in and
that no power under the sun can head
off the rush for Southern California that
will make this one of the most notable
years in the history of Los Angeles.
Mayor I. E. Rowan, who established
the Southern California real estate
agency at 2l4 North Spring street in
1876, has held for some time past that
1898 was to be the turning point in the
real estate market of this city. As be is
the oldest real estate man in Los An
geles and has grown up with the CITY,
his opinion is of much value. He
holds that thousands of people from
every state in the union, and great num-
bers from the old country, have been
holding back for the worlds fair to take
their vacation and see the great west.
After spending few days at the worlds
fair they will make bee line for South
ern California and large percentage of
them will invest here. Some real estate
dealers have claimed that there will not
be rush for the coast until the worlds
fair closes, but this is mistake as there
are but few who will care to rema in
Chicago over few days, and while they
are away from home 1t is the most
natural thing in the world to suppose
that they will come on out here if they
intend to come at all.
The Hon. Dan Freeman, the founder
of Inglewood, one of the most beautiful
towns on the coast, is preparing for the
rush and will have several of his tracts
on the market within few weeks. His
land is adjoining Inglswood and ranks
with the finest land in Southern Califor-
mia. 1t is we'll watered and is the most
desirable tract for small homes in this
county.
BY glancing at the daily real estate
records during the present week it
will be seen that the market was good
ell week, the daily transactions running
from $40, 900 to $3.50, 900. This is show
ing that would have set the town wild
year ago, but all seem to take it for
granted now that the boom is at hand,
and instead of taking possession of the
street corners and talking loud about
the big fortunes they intended to make
in 10 minutes, they are attending
strictly to business and preparing fol
the rush.
D.,.1 ~f l.k. 81 Il.
are going up on all eidee, and in the
residence portion Of the city the carpen-
ter's hammer can be heard in almost
every block. In fact there was never
before such activity in the building line,
and it is hard for the contractors and
carpenters to put up houses fast enough
to supply the demand.
The hotels are crowded to overfowing,
and right here it might not be out of
place to say that Los Angeles was never
in such great need of big hotel as she
is at the ptesent time, and the man or
men who will erect such an institution
cannot help making fortune. There
have been several hotel schemes on dur
ing the past few months, but for some
reason they have fallen through.
Andy Ryan, the richest hotel man in
the great northwest, has been figuring
on several hotel projects in Los Angeles,
but property owners have not been as
liberal with him as they should, and it
is probable that he will duplicate his
big St. Paul hotel at Santa Barbara, in
stead of building in Los Angeles, as he
once intended doing.
From most reliable sources it is
learned that men of large means are
looking towards Los Angeles for invest
ment. Several of them are already here
and are picking up real estate at bar
gains, while local capitalists are waiting
for tha rI1Rh to eet in