The morning call., 1894-05-05
SPECULATION LESS POPULAR.
BUILDING RECORDS FOR April

A real estate agent gave what seems to
be the most feasible solution for improve
ment in the real estate market yesterday
when he said that prices of city and coun-
try lands must be reduced before condl-
tions adjust themselves to prosperous
but normal level. There can be little
doubt that the real estate situation is un-
dergoing a certain evolution at the present
time. Indications of this are plain enough.
The agents. owners and purchasers are dl-
vided with the result of an unsettled stan
dard of values. Then with regard to pros
pective prices they are not particularly
sure
That the market is quiet goes without
saying Income property at prices per-
hitting of satisfactory interest on the
investment seems to sell fairly well and in
town cheap lots for homes are bought
largely ON the installment plan. To get
an income from real estate now cOmpels
the purchaser to calculate closely and to
buy at bedrock" figures, for such Is the
condition that without concessions on the
owners part it is found difficult TO make
property pay fair return on the money
given him by the buyer. AS the owner
sticks closely to his old opinions and man
ifeSts a reluctance TO view realty 10 THIS
commercial light transfers are frequently
prevented. The speculative element OF
more prosperous lays is missing aud the
con sequence is the market lacks activity.
Heretofore" contin usd the agent, "peo-
pie were extravagant. They had plenty
of money. bought real estate at prices
asked ard often without ever dream
ing Of estimating its value as an
investment. Business ideas were too ex-
travagant. and, in addition to tnat.
af fufn a
were allowed to get the better OF good
judgment. Now, however, chance Is
coming 1t will no longer be. 1 want that
ranch. What's the prca? All right; It's
mine No, the purchaser will first ex-
anime the characteristics and adaptaDlllty
OF the soil and climate, consider the mat
ter of freights and so on. and ii he can
foreses profit in the Investment he Will
buy. The same will hold true in city real
estate and there is good reason to believe
that it will bring about still further re-
duction on present prices.
The building records for April show
total of ninety-nlne contracts recorded,
representing an outlay Of S514, SO3. This
is $4,000 more than that OF April, 1893,
and about equal to April, 1892. During
this week the following contracts for
buildings were recorded:
Flats on Pierce street, near Greenwich,
cost $4,000; two dwellings on Golden Gate
avenue near Octavia street, cost SIS, coo;
frame building on Page street. near Lyon.
cost $4,000; cottage on Page street, near
Fillmore, cost S2400; two-story dwelling
on the adjoining lot. cost $4,000; additions
to the premises on the northwest corner
of Golden Gate avenue and Broderck
street, cost $4,000; two-story building on
Twentieth street. near Guerrero, cost
$4,000; dwelling on the corner of Twenty
first and Alabama streets, cost $4,000;
frame building on Fifteenth street, west
of Guerrero, cost $1,000; home on the
corner of Clayton and Oak streets. cost
$4,000: a building np Market, near Reser-
voir street, cest S2500.
The block bounded by McAllister. Full
ton, Baker and Lyon streets will be offered
at auction by Baldwin IL Hammond next
Thursday on terms of fifth cash and
the balance in one, two, three and four
wears, with Interest at per cent per
annum. This block is surrounded by
handsome dwellings of modern consruc-
ton and is in the heart of select resi-
dence district. If the purchaser builds
within a year he will not be asked to pay
the four-fifths balance for four years. The
inducements to buy are many. Ali the
streets are severed, and on Lyon, Meal
lister and Baker streets there are stone
sidewalks. The Baker-street lots have
side sewers. gas and water connections.
Taxes are paid TO June 80, 1894, and the
owner Will pay tucu lUI lu6 next USCaI
year. so that purchasers will have no taxes
to pay until November. 1895. The block is
purely and simply choice Western Addi-
ton block in one of the best dwelling
places of San Francisco.
Easton. Eldridge & Co. will hold an
auction next Tuesday Of the following
properties: McAllister street improved
property. 521 and 523 McAlister strset,
through to Ash avenue; Harrison-street
business corner. southeast corner of Har-
rison street and Vassar place: Folsom
street business or residence lots, east line
of Folsom street. north Of Twenty-first;
Mission French flats and two lots, 1923
and 1425 Twenty-fifth street, east of Noe,
and two adjoining lots; Mission residence
lots-Northwest corner of Church and
Twentieth streets, lots, northeast corner
of Noe and Day streets, lots, south line
of Cumberland street. west of Church, 2
aVApuo aaet nf Hnllv straaf alan Iot ad-