The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1895-08-05
REVIEW OF REAL ESTATE
City Agents Report an Inn
proved Condition of
the Market.
AUCTIONS DURING THE WEEK
Realty Sales of the Past Week.
Building Operations in
Fair Number.

Real estate dealers are much encouraged
by the prospects of the market, although
business has not yet got back upon old
lines. All the evidence points to greater
activity in the way of real estate sales dur
ing the next year than has been known
since 1892. With the best informed OF the
dealers, those who have watched the
market for the last quarter of a century,
there seems to be a feeling that the market
this fall and next spring will be fairly
active one.
In commenting upon the condition OF
the real estate market Saturdays issue OF
Thomas Magee & Sons Circular says:
Despite the fact that many people are stillin
the country, the demand for City property was
much better in July than in the three previous
months This increased demand was general,
extending not only to retail business property,
but also TO fine residence ana ordinary nome
stead sites Even South Beach property, long
NEGLECTED. has lately also been one OF the dis
tricts inquired after. Two classes are now, IN
utterly opposite ways, helping real estate Inc
first is q small number OF owners who, because
of debt or other need OF money, must realize,
and have reduced their prices accordingly.
The second is a very much larger class who,
loaded with money, are forced to buy real eS-
tate because there is nothing else nearly as good
in sight. They are, in short, forced TO buy City
property whether they will or not, and so yet
depressed market IS fairly sustained.
4 very Shrewd man, like Claus Spreckels, buy
ing largely spurs the men with no mind, cour-
age or Judgment OF their own into purchasing
also. The latter, without such example, would
not invest dollar. The whole City and State
are very heavily indebted 10 Mr.. Spreckels for
what he did for the new san joaquin Valley
Railroad. \ dull real estate market has also
been braced and kept from being much worse
BY his independent investments. He buys on
nobody's judgment but his own, either.
A good Judge OF real estate last month had
the caoice presented TO him of going in debt TO
erect a building for hrst-class tenant, who
offered q very fine interest rate in rental, or
going IN debt for d purchase. He decided for
the latter. present low prices causing him to
conclude that there was much more money in
the buying than in the building proposition, al
though all building material is now exception
ally low.
world which IS of more than local significance.
1t began some months ago in New York. and
its effect is now being felt in Chicago. The New
York market has shown a marked advance in
values, ranging, as compared with five years
ago, and in some instances as compared with
two years ago, OF from 80 10 $50 per cent. The
greatest movement Is IN business property, or
in property Just passing from residence to
business uses but it is by no means confined to
this class, extending to property used wholly
for private residences. Low interest rates on
money and the demand for secure investments
have combined to make real estate a favorite
with large investors In spite of large reduc-
lions in rentals and the recent difficulty IT, Sc
curing tenants, real estate investment that
viii pay per cent is now regarded as, in q
measure, satisfactory and is far better than
I0anlng money at l per cent per annum on
call. with the chance of funds lying idle a good
portion of the year
An excellent indication of revival of
the real estate market Is found in the BUSH
ness transacted by the California Title
Insurance and Trust Company during the
last two weeks in July. The business of
this company is insuring titles for pur-
chases, and the moment movement
begins in real estate it feels the in
f1uence. Manager Ebert reports that the
transactions by his company during the
last two weeks of July took a sudden
Jump, being far in excess of any two
weeks for a long time. The movement is
not regarded as a squirt, but has all the
signs of permanency. Title insurance is
becoming so we'll established in real estate
transactions that the business transacted
by Mr.. Eilert's company is barometer OF
the market.
Prices Of all materials connected with the
building interests in San Francisco are
advancing with the exception of lumber
At no time in the history of the City have
building operations been so brisk as they
are now for this season of the year. a
general complaint has existed that there
are not enough buildings of modern de-
sign for renting purposes, while desirable
flats are also scarce. Another noticeable
fact is that the erection of buildings is not
confined to any particular area, the entire
City being dotted here and there with new
structures. The number of contracts filed
in July were 119, representing $467, $40
This makes the total for this year III
aggregating $685., 092. The summary fol
July for the last five years, as given by
Wolfe's Building Review, is as follows: