The herald., 1895-05-04
Weekly Review Of Realty and
Building
THE PEOPLES HERITAGE
To Be Accepted or to Be Rejected by
p the Public
Critical Inspection Of the Dolngs for the Past
Six Days-The Transfers, Permits
and Sales .@Sg -

ldSC n1gnC Oy tue Tedl eState eIaHSioIo lo :
corded and the permits for building is
sued is good one for this time Of year.
The transfers in number were 32i, OF
which 143 were for nominal amounts
only. This OF course hides facts and re-
suits in the belittling Of the aggregate OF
money involved, but the intelligent and
interested individual will find but little
difficulty in arriving at the approximate
monetary extent of the business trans
acted.
The value of the 324 transfers, includ
ing the nominal consideration Of 81 for
1.-THE love I bear to the party of the sec
oud part is 1878, 4S2-an average in
round figures of $63 600 daily.
The number of building permits issued.
and mbracing not only permits for build
ing but those for alterations, removals
and various improvements, was thirty
two, of which twenty-four or twenty five
are for actual building-and buildin <
chiefly of homes. superintendent of
Buildings Strange was in court yesterday
and as a result no permits were issued.
though the applications were many. The
missing OF but one days business IN this
department naturally lowers the daily av-
erage considerably. and while it does not
prevent contemplated building going
up, it makes a weekly exhibit thinner to
lust that much extent.
Real estate men. or the more conserva-
tive and less hungry among them. all are
unanimous in pronouncing the real estate
condition prevailing in Los Angeles a $
healthy, solidly founded and fairly salts
factory. Can so much be said OF the real
estate condition OF other cities OF the
class Los Angeles is in? The Herald
ventures to reply to this question with a
negative.
boom" is holding carnival. with the
prices scraping the heavens and no bot
tom beneath, or with necessary Eottem
prices are depressed. or if not depressed
and IL they are kept up where they be-
long. then no sales are effected.
Los Angeles! Do her own people know
what heritage is theirs2 Do they ap-
preciate what at this present moment of
time is within their grasp2 Many is the
man in this city using cusS words in tell
ing some one at saloon bar that things
have gone to the demnitiOn bow-wows,
who FIVE years hence. if still here. will
be able to point to an outside order and
say, "In 1895 could have bought that lot
for $500 or $2300-installments at that
and now-well, l can't touch it now,
that's all"
Here is the whole thing in nutshell !:
Los Angeles is surrounded by unimprOved
lands-that is, agricultural and horticul-
from $10O to $500 per acre. ad these prices
rule because under right conditions the
price or investment will earn fair inter-
est, ana this is more than can be said of
such situated lands anywhere else in the
entire United States. Now. with such a
country back of the city and taking into
consideration the elements of crfmort
climate and social conditions tell us
what is to prevent steady increase of
value of urban and suburban lots? Why
shall not Los Angeles con n:inue to grow.
ss it has for the past five years grown?
Be conservative as one will, even to
stupidity, and even then one must admit
q future and brilliant one for this city.
But while this is all true, mistakes are
liable to occur, and this may manifest
itsel In two different ways. One is to set
too great price upon holdings, and an
other is to overdo building.
The former invites but little criticism
here. The fault may exist, but does not
manifest itself to any serious extent. vi
overbuilding, let us look at the situation,
for nothing so discourages a visitor or
prospective investor more than to see
around him lot OF empty buildings.
A first glance at the many metropoli-
tan blocks OH Broadway, just commenced
or Just being com pleted, may lead one to
ask. Are not Office buildings being over
done?" That there are many OF them is
admitted readily. But observation cover
ing many years and in many cities sug-
gests that history will he1e repeat itself
and that soon, as they are finished they
will fill up with tenants, who will leave
the rookeries and shambles to enjoy mod
ern convenlences, and that the places
they desert will be converted into stores
or will be torn down to- in turn, give way
to up to date structures. This is brief,
but to the point and carries accurately
the meaning it is intended to convey.
tcf 49, nctI " l,a SoiH fhnf nf
the higher class of buildings they are
never long idle. Usually their occupancy
is assured even before the ground is
broken for theIfoundations. Residences of
moderate cost are easily rentable and
dwellings of low cost always find a de-
mand. 1t is fact that one can see prac-
tically no empty houses for residence
purposes in any part of town.
One does see. however, occasionally,
flats for rent and the very general opin-
ion is that this class of structure is GER
tanly up to the demand. Flats on Man
haitian island doubtless are necessity,
but in Los Angeles with room to spread
and grow to the ocean, town where, in
common with other Southern California
towns, one wants to enjoy the leaves,
the trees the flowers, the bees, the fruits
and breeze from outside room or suite
of rooms--in such a town be it said, fats
can. be overdone. Whether or not it is
SO here can best be determine each one
for himself.
The number of houses in process OF
erection in number OF tracts has
aroused tue curiosity of the Daily Jour
nal, which counted them and with this
result: .. r..,,