The herald., 1893-02-16
DIRT DIRT IS IS STILL STILL ON ON THE THE JUMP.
The Real Estate Market Has a
Lively Appearance.
Some Notable Sales, Involving Large
Amounts, Recently Made.
Indicative Interviews on the Subj lee t
with Dealers Who Are in Touch
With the Market and Know
whereof They Speak.

There is no question but that real
estate in and about Los Angeles is sell
ing more readily at the present time
than since 1887. Confidence Ia being re-
storted, and with it the investment o.
inside as we'll as outside capital. The
two largest sales reported for some time
past are those OF the Nsdeau rancho to
Mr.. Cudahy, for $197, 900, andsthe Ham.
mel & Denker property on the corner oi
Spring and Third streets to Mr.. I. d.
Stimson, for the reported confederation
of $4,000.
In conversation yesterday about
these sales, prominent real estate
agent said to a HERALD reporter: "In
my opinion, the reason both of those
sales were made was because they were
offered at q bargain and at less than
they had been held year or two ago.
"The amounts paid are away down to
bedrock, and doubt if they are what
the property should have brought.
Had Mr.. Denker been alive no man
could have touched that Third and
Spring street property for less than
$225, 900. A short time before his death
he received an offer of 100000 for it,
which he refused. He told me not to
sell it for less than $225, 900.
The Nadeau ranch property is very
valuable. During the boom 100000
was refused for it. 1 believe that Mr..
Cudahy can sell that property in a
short time at a large gain.
My experience is that the people
who are investing now do 80 for the
purpose of receiving profitable returns
within reasonable time. They are
taking no chances, and want bargains
every time"
A number of other dealers were inter-
viewed, and all expressed confidence in
the future of the local real estate mar
ket. Great interest has been aroused,
and important sales are being made
almost every day.
G. A. Smith of Nolan & Smith, do
not anticipate any boom, nor do re-
gard It as healthy or profitable thing
for city. The values have grown
steadily and everything is in a healthy
condition. We have received number
of inquiries within the past few months
for all kinds of property. The residences
in the southern portion of the city are
very salable and business locations are
also in demand. The outside property
is selling very we'll. At no time for q
number of years has property
been so salable at its true
valuation as now. A large num-
Der of the buyers are local people
who have begun to appreciate that this
country has future before it. Another
significant fact 10 that there is more
money to loan at the present time than
there has been for many years, and
there are fewer borrowers. Within the
past six weeks we have completed the sale
of three business sites on Second street,
at an aggregation of over $50 900, and on
one a three-story building is being
erected.
Ben i. Ward-The present improved
condition of the market is due in great
measure to gradual increase of populs.
ton, climatic extremes in the east and
the gradual increase of the feeling
among men OF means to seek homes in
more genial climate and to escape the
severity of the eastern winters. The
sale of the Nxdeau ranch is strong ar
| gument as to the future prospects of
this country, end, while the price in the
aggregate is fair one, should the pur.
chaser 30 desire 1t would not be a diff.
cult matter for him to double his money
within five years. l have not had &c
much inquiry in the last three years put
together for property as | have
had within the last three months
The demand being about equally
divided between houses and lots ant
vacant lots for residence purposes on tn,
one hand as against acreage on the other
anticipate that the market will stead
lily improve from now on.
Wesley Clark-The real estate marke
Is in excellent condition. Prices ar
good, and confidence has been restored
The change for the better in the marke
has been very marked during the pas
few months. In my opinion the invest
ments in this city by Mr.. Stimson is
potent cause for the restoring of conf
dence. He has advanced this city full
three years; l mean but for him W
would in three years be where we are a
the present moment.
George D. Belts of Belts & Silent-S
far as we are concerned our house is il
touch with some prominent Chicag
capitalists who seem to be stimulate
by the recent purchases of Mr.. Slim
son. If one-half of the present negoti
ations for business property in Los An
geles are carried to successful termi
nation we will indeed be second Chi
cage. Thesgeneral outlook is fstterine
and close-in property is particularly j
demand; not solely for speculation, a
the prospective purchasers intend i'm
, proving the property so that it will pa
a moderate interest on present values.
r. G. Lunt-The outlook here is bel
ter in every respect than it has been &c
four years. The feeling is one of conf
dence, and prices are frmer. l hav
| been informed that o large building wi
shortly be erected on the east side {
Main street, running north from Firl
street to the new Mcdonald building.
( regard the sale of the Nadeau ranch 9
very advantageous for this city. Thei
is demand for all kinds of citv PROF.