The morning call., 1894-10-20
SPECULATINGNOW
Real Estate Bought for
Future Rise.
FAVORABLE INDICATIONS.
Landlords Face to Face With
New Condition.
A LESSON THAT HAS A MORAL.
Desirable Dwellings Rent Immedi-
ately, While Plain Houses Are
Drug on the Market.

The real estate market seems to be feel
ing the effect of stimulating influences.
although rising very slowly from lis long
condition of apathy. At least there is a
quite perceptible sign of returning con-
tidence, and if the volume Of business is
not altogether what it would be in better
times, a fair movement is reported by
agents.
For some weeks past a healthy dispoSi-
tion TO invest sums Of a few thousand
dollars in small lots around Golden Gate
Park and in Richmond has been growing
gradually. Previously, for at least year,
the larger proportion of transactions was
represented by purchases of lots for home
sites. This was merely a necessity Of the
time, and did not carry with il any thought
of speculation or investment in real estate
as purely business proposition. OF late,
however. it is represented by some brokers
that people are beginning 10 buy in limited
amounts for future advances In value. In
this recent turn for the better is seen good
grounds for believing that real estate is
gaining in popular estimation as an in
vestment.
1t certainly is one of the best indications
of Improvement that the market has given
in many months. Should IT continue for
another month or two all doubts still pra-
vailing must be dispelled. And yet there
is bare possibility that this buying with
speculative Intent may be nothing more
than squirt produced by various local
causes, such as prospects of railroad eX-
tension, building the Sutro electric line
and such matters which usually have a
certain effect on property.
1t is a significant fact that while real
- l.
an Investment a large number of dwellings
are building in the best districts. not only
TO be used by the builders for homes, but
for renting Many elegant two-stOry resi-
dences. with every service that modern
ideas can give and with considerable pre-
tensions to artistic finish, inside as well a 8
outside, have been erected. Handsome
fats. generally in tiers of three stories. are
also growing no IN the Western Addition
and out toward the park. But meanwhile
houses that appear to nave no defects are
deserted daily, and "To let" bills may be
seen in the windows in all directions.
Agents say they have no difficulty ia
renting those new houses. The difficulty
is to supply the demand. Looking over
the lists of houses to rent IN agents offices,
remarkably few really satisfactory dwell
ings can be found. The desirable class of
houses does not go begging for tenants.
Such residences are picked uD promptly
at nigh rents, and most frequently on
leases of various terms, while ordinary
places are taken only on reduced rents.
Comparisons work against the poorer sort,
and landlords will find il necessary to
meet the situation by bringing defects up
TO the needs as now set by the popular
standard,
Owners of renting properties, so say the
agents, will not spend more monev in this
direction than they are absolutely forced
10 give, but expect quite as much rent as
in prosperous times. And there is but
little doubt this is the true reason for end
less arrays Of houses to let throug hout The
city. instead of the causes often erru-
neously assigned, namely: falling off in
population. which is not fact, and the
overbuildng of residence districts. The
modern dwellings. whether two-story
houses or three-stOry flats, paw a good in
come On the investment in lot and build
lngs.
The southwest corner of Taylor and
O'FaTrell streets. 1925 on O'Farrell and
Is feet on Taylor, owned by Henry Mach
tgall. was sold Thursday for S57, 800
There are old improvements, which do not
cut much of q figure in the valuation, on
the lot, and the price paid is considered
reasonable, though little over $500 front
foot Op O'Farrell street.
Two important auctions of real estate
will be held this week, as already an
nounced In the CALL. Shanwald, Buck
Dcc " W. VIII llUlu d Sdi6 uGSudy aL noon
at 220 Montgomery street of siXty-one
dwelling lots on Sixteenth, Church, Sharon
and Hardy streets in the Mission warm
belt on terms of half cash and balance on
mortgage of Two years at per cent. Won
Rhein d Co. will offer at their offices next
Thursday select catalogue of business
and residence properties located as follows :
mission, opposite the new Post9ffice Mont
gomery avenue, Pine. Grove, Turk, Will
lard. Twenty-first, Sh0twell, Church and
CheDery streets
Building contracts let during the week
amount 10 $4,000. which is represented in
dwellings, rows of fats anu extensive
changes IN Garibaldi Hall on Broadway.
VIII L. Fisher d Co. report the follow
ing sales made during the past week: Lot
25x100, on northeast corner of Webster
ana Elm streets. $4,000; lot 36x10O ON
southeast corner of Clement street and
Fourth avenue, $3.50; lot 25x120, on east
line of Tenth avenue, 100.feet sautD of Lake
street, $3.50; lot 25x122:6. on east line of
Shotwell street, 30 north OF Twentv-fifth,
$3.50; two lots, 25x120 each, on Eight til
avenue, south of Point Lobos, $3.50 each
lot 25X127:6 on north side of jackson
street. 1877 IS west of Broderick, S325O; lot
and improvements. 3247 Mission street.
$4,000: lot on west line OF Forty-fifth ave-
nue., between B and C streets, 25x12O.
$3.50: lot 25X100 and improvements. 81
Alabama street, $780,