The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1895-10-21

Oh Tue HiSldiluChl pam MANI IiiS AOiAOW-
ing report:
Among the first observations on the question
of home-buying on the installment plan which
Influenced our operations was the statement
by Colonel c. l.. Taylor of the Board OF Super
yiSorS of San Francisco that out OF 700 homes
he had sold on the installment plan there was
but one failure. This was about eight years
ago. Since that time we have sold over 800
homes On monthly payments, 1897 OF which we
built ourselves. Our operations, though mainly
confined to Alameda. have extended TO
Oakland, Berkeley and San Francisco.
We can offer a comfortable home with mod
ern improvements and good sized lot on the
following terms:
Cost of lot and cottage, $4,000.
Initial payment, 800.
Payment each month, go.
Number of payments, ia.
Should one pay, rs some do, $50, S35 or $40
per month, one gets title clear just that much
quicker. At the end of five years should one de-
sire to move one can doubtless rent the home
for $25 month and go on paying the install
ments.
Will i. Fisher & Co.'S communication
reads as follows:
The purchase of a home is a subject that
must always have an attraction for an American
family. To own his own home-to be free from
the Onerous burden of NEUTRALITY-SUSPICIOUS. be
the aim OF every man; but If he were to wait
until by frugality he had accumulated a suti-
cient sum 10 pay for house and lot, how few
would ever own their own home! That the
man who pays $40 per month rent can afford
to pay $50 monthly nstallments goes without
saving. comparison OF figures will demon
strate this more clearly:
To complete the purchase of a home on the
inslallment plan usually taxes about ten years,
during which time had he continued to pay
rent he would have paid TO landlord $500;
while, on the other hand, his installments
would have amounted to $4,000, and the result
would have been that instead of having paid
to the landlord $4,000, for which he would have
no other return than the mere privilege of oc
cupying house for that time, he would at the
end of that period own his own home for an
actual outlay of $1,000 besides having enjoyed
all the privileges which would have been his
under the rental proposition. Buying a home
on the installment plan is like taking money
out OF one pocket to put it another
No doubt, other real estate agents besides
ourselves have tor sale many desirable invest
ments which can be bought on the lustallment
plant, or who can make arrangements with
owners OF vacant lots to erect thereon houses
which the purchaser can pay for on the in
stallment plan.
From the City department of Easton,
Eldridge d Co. the following letter en-
anates:
There is no question but the interest OF the
community al large is TO encourage families to
own their own homes, and the only way posi-
BILE to do this is to make payments on the pur-
chase easy, and instead OF rents let the INSTALL
ments 60 toward the payment on home
There is no reason why the frugal and economi-
cal family paying from Sl5 to $50 month for
rented property should not aim TO become
householders and establish themselves in the
community above the standard OF transient
renters.
choice building lot can be purchased on
easy terms and cottage or house erected upon
same and paid for by monthly installments,
little more than rent. At present we are offer
ing in the Richmond district new houses upon
this plan, and stand ready TO negotiate the
building of all classes OF houses upon unim-
proved property and accept payments on small
monthly installments small first payment
must be made in cash 10 guarantee the ad-
vancement of moneys necessary to carry out
the plan.
We make this statement in order to sub
stantiate the fact that no one need live in
rented houses ii they desire TO own their own
homes. The payments are regulated TO cover
six 10 ten years according TO the circumstances
OF the buyer.
The trouble with the average man of family is
the fear that he Will be unable to meet pay
mentS promptly, which alone in many cases
has prevented his owning q coy home, but
experience shows Us that very few fail to ac-
cOlnplish the end when once decided upOn
and in the few exceptional cases they realize
some cash equity from the payments made,
which represent their savings in a greater ratio
than If they had rented during the same
period Homeseekers are to be encouraged,
and we note with pleasure our efforts in that
direction.
G. H. Umbsen & Co. have the following
to say in their communication:
We consider that there are too many people
paying rent who might, through the advan-
tages that are now offered them. obtain n
home on the instalment plan and thereby
pay rent To themselves. In fact, to persons
! buying home on this plan, the real cost i s
| only the interest, insurance and water, as the
principal which they pay isabout equal to rent,
and in eight or nine years they own their
home. There are quite number OF homes
which we can sell on these terms, ranging in
price from $500 up TO palatial residences, ana
in any part OF the City. To illustrate the plan
if person buy home for $4,000 he need only
pay 20 per cent cash and his monthly pay
ments, which would include interest and prin-
cipai, would be only $32 per month, and we
can arrange even easier terms than this, in
some instances. Now for place OF this kind
he would pay about $25 per month and by pay
| ing about 81 per month more for period of
about eight or nine years he owns his home.
| Houses and lots on this plan are sold for about
| one-ffth cash payments and the balance in
| equal monthly payments.
Every man on fair salary income is offered
! by this new plan an opportunity 10 own his
| home, and in the time above mentioned. In
! stead OF having about 100 rent receipts which
| are of no value he would have deed TO piece
| CT property which would then be worth prob
! ably twice or three times what he paid Tor it
originally.
| REVIEW OF THE RECORDS.
! There were ninety-four real estate loans
made during the week ending Saturday
| October 49, amounting to $273, 295. The
| principal amounts lent were the following
By the German Savings and Loan Society tC
| Mary E. Kenny, $11 900 at 81 per cent on
| property at the corner or East Larkin street
! with southeast Park avenue, south 123 %
| northeast 30 :l3l, etc; by the Mutual Savings
! Bank to Frederick and Mary f. Ryer, $l2 DOC
| for one year at Z per cent on property on the
south line OF O'Farrell street, 112 east Of
| Powell, 25x137 IS; by the Hum boldt Savings
! and Loan Society to Robert Mitchell, $40 ,00C
until January 10, 1899, at per cent, on prop
erty at the southeast corner of Turk and Frank
| lin streets. 100X120; by the Hibernia Savings
and Loan Society 10 John Morton, $4,000 fol-
one year at 612 per cent, on property at the
northwest corner OF Ellis and Taylor streets
% :6xl12:6; by the Union Trust Company OF
San Francisco to Joseph NJ. and Jessie T. Mac
| donough, $40 900 for one year at 612 per cent
| on property of thirteen descriptions as con
tanned III the deed from the estate of James
Carroll; and by the Hibernia Savings and
Loan Society to Owen E. and Annie Brady
SIS, 500 for one year at 615 per cent. on a lot
25x100 in Mission block 70, lot 50x105 in
| Mission block II and lot 90x130 in Mission
| block 1879.
The releases from mortgages recorded
| during last week numbered thirty-foul
and represented $50, 100, but were all fol
small amounts.
There we've twelve builders contract:
placed on record, representing a pledged
outlay OF $50, 222.
Deeds were recorded the past week to
the number of 10, the largest being from
the Union Trust Company, executors O
| the estate of lanes Carroll to Josenh auC