The morning call. [volume] (San Francisco [Calif.]) 1878-1895, 1895-02-10

BUILDING PROSPECTS FAVORABLE.

Within the last week events have hap
pened in San Francisco that affect the real
estate market far more than many people
imagine at present. Their nature is too
well known in California to need any fur
Their mention here than reference to the
spirit of public enterprise manifested in
the San Joaquin Valley railroad project
which has filled the people with renewed
hope and confidence. To be sure prices
have not stiffened enough to make any
thing like change in values, nor has the
movement of city realty increased, al
though inquiry has greatly improved 1t
is sufficient to know at this time that an
ticipation alone has inspired better feel
ing generally among people interested in
San Francisco real estate.
No matter what may be said of the John
son auction sale held last Tuesday it is
significant fact that the same extensive lot
of properties could not have been sold out
right a year ago, and whether any one
piece on the catalogue would have brought
the price paid this week is doubtful ques-
ton.
The condition of the building trades is
quite satisfactory, with large buildings and
many dwellings in course of construction
and still more under consideration among
tracts of the week exceeded $50, co.,
Real estate brokers are waiting anxiously
for ground to be broken on the new Post
office site at Seventh and Mission streets.
They say that the Representatives from
California should make an effort to get an
appropriation as soon as possible SO that
at least excavatlng might begin at once
and the foundations laid. The expendi-
ture of this money would help in many di-
rpntlOnS nrn I an. IN q IIrIa Iy
sense, as it would stimulate the healthy
sentiment already asserting itself.
Henry Z. Sonntag, yice-president of
Shainwald, Buckbee & Co., stated yester-
day while giving his opinion on the mar
ket that since the San Joaquin Valley
Railroad was mentioned not word has
been heard about hard times.
''The tendency of the market is to i'm
prove" said he. Probably during the
past five years there has not been as good
a prospect ahead as at the present time in
San Francisco. The price of property is
sufficiently low to insure an increase in
short time. Of course man must use
judgment in selecting the property he in
tends to purchase. The city in the past
few years has undergone an absolute
change as to localities. New districts are
being formed for fashionable residences,
and the district bounded by Larkin, Suffer
and Market streets is fast becoming the
retail part of town. Properties in the re-
tail district have not deprecated during
the season of depression.
cat the same time the extension of
electric roads has brought into the market
a great deal of residence property.
"a new standard has been set for all
classes of buildings. Style and cost are
not what they used to be- Mansions are
taking the place OF old dwellings, and mod
ern ten-story buildings are replacing old
style business houses. Though rents have
been reduced in wholesale districts, they
have held their own in good retail sec
tons. Shrewd investors believe that the
time has come to purchase property and
are taking advantage of reduced prices,
brought about by the period of depression
to secure city lands before values advance
"Our banks are full of money waiting
investment, and the assurance of building
the valley road has created confidence in
the future, so that this money will soon be
invested in realty. The reason is evident
People feel that prices have reached bot
tom and a sharp advance is bound to be
the result of restored confidence and good
feeling caused by the valley road | be-
lieve the road project is only the COM
mencement of various other enterprises in
California, and that the next few years
will find further improvements in values
OF real estate and IN conditions than were
made in the last. five years; and still fur
Their, that San Francisco is destined to
rank among the foremost commercial cities
of America
Sol Getz & Bro. report the following
sales:
Lot 25x12o on west line of Eighth ave-
nue., 200 feet north of K street, for $500;
lot 25x100, on north line of J street, SGT
feet east of Twelfth avenue, for $3.50; lot
30x120, on east line of Eighth avenue, 115
feet north of Clement street, for $3.50; lot
50x120 on east line of Thirty-sixth ave-
nue.. LOO feet north of K street for $6NN