The San Francisco call., 1896-03-02
REALTY MARKET REVIEW,
The First Two Months of 1906
Give Promise of a Good
Year.
EFFECT OF ToRRENs SYSTEM.
Heavy Loans Made at Per Cent.
Releases, Auctions and Cur
rent Notes.

The second month of the year 1896 has
closed and real estate men in reminis-
cent mood appear to be favoraply i'm
pressed with the results of Januarys and
February's business. One view of the pres
ent situation is that though the market
still remains quiet, yet it is in as satisfac-
tory condition as other lines of trade,
but no decided improvement may be ex-
pected until 1t comes with the general re-
vivaI of commerce and manufactures.
This is held to be conservative to last de-
gree, and other opinions, which prevail
among large proportion of the real estate
agents, are more hopeful.
1t'would seem that the outlook for the
market is very fair, and that indications
forthe spring movement point to an i'm
proVement-not at any special advance in
prices, but simply this: Buyers have more
confidence to purchase City lands and
sellers are more reasonable in their de-
mandS than formerly. Money, too is
ireely loaned on real estate at 61% and 7 per
centum, and some private lenders are put
ting out money at f per centum.
One prominent agent said he was we'll
satisfied with the results of the first two
ing auctions, amounted to $500, 600. These
transactions were not confined to large
properties, but there has been a steady de-
mand for average priced dwelling lots in
nearly all parts of the City, and also for
cheaper lots in the outskirts where the
street work is done. a factor which has
impressed itself upon agents is that street
work is really important feature in trans
actions in outside lands. In fact it is very
essential to the successful handling of lots
IN outside districts that the streets be fin
ished.
In the City real estate is in better shape
than 1t was year ago, although the healthy
upward tendency is gradual.
J.. The more important loans made on real
estate during the week were as follows:
By Alexander Boyd and Jacob z. Davis. on
west line OF Powell street, 81 south of Post,
south sos, west 137 6, north 76 %, east 6S: 9,
north 4, east 6S %, $4,000, for five years at g
per cent.
Trustees of Robinson bequest fund, on prop
erty on east line Of Van Ness avenue, 81 Is
north OF California street, north "a 80 by east
l3I %, S11 600, for ten years at 6 per cent.
Hibernla Savings and Loan Society. on prop
erty on northwest line OF Market street, 100
southwest OF Fifteenth. southwest 75 by north
west llJ, SIC, 600, for one year al 81 per cent.
German Savings and Loan Society," on prop
cry on west line of Fifth avenue, 275 north of
d street, north 80 by west 120, SIC, 900, for
one year ct 615 per cent.
Alexander Boyd and Jacob z. Davis. on
property on south corner of Seventh and Mar
ket streets southwest $50, southeast 165,
northeast 70, northwest %, northeast 70,
northwest 140, ODD Fellows Hall Associa ton,
$159,0O st . per cent.
Alexander Boyd and Jacob 2. Davis on prop
erty on. southwest corner OF California and
Battery streets, south 50 by west 103 :815,
SIOo,O0 Tor i've years st per cent.
The largest releases were as follows:
German Savings and Loan Society to John T.
10 fkavnsy
corner OF Fifth avenue (Madison avenue), I78
southeast OF Harrison street, southeast % by
sOuthWes 80.
Hibernia Savings and Loan Society to Joseph
Wagner, property on southwest corner of Spear
and Mission streets, southwest $40 by south
east 137 IS; $4,000
i. Randolph, property on west line of Powell
street, 81 south OF Post, south S0:6 west 137 IS,
north 1856, east $50, north 4, east 6s:9
$4,000.
German Savings and Loan Society to Bertha
Bioer, property on north line of Suffer street,
JOB IL east OF Jones, east "a AZ by north so;
$4,000.
Hibernia Savings and Loan Society to Volina
E: Harrigsn, property on the southeast corner
OF Market street, 200 southwest of Sixth, south
west % by southeast so; $35, 900.
:: German Savings and Loan Society to William
S.<Chapman, Potrero lands; $15 900
Equitable Building and Loan Association to
Daniel snd Ellen Friesleben, property On north
line OF Washington street, 81 Is east OF Bu-
chanan, east 30 by north l07:S14; sos, 600.
san Francisco Savings Union 10 odd Fellows
!. Hail Association, on the hall and lot at Sew
enth and Market streets; 500, 600.
=Hibernia Savings and Loan Society to Robert
Sherwood, property on southwest corner OF
Battery and California streets, south SO by west
103 so; $4,000.
Joseph A. Leonard Company to Henry D.
Morton, property on south line of Market
street, 90 southwest OF First, southwest 60 by
southeast 80; $4,000.
The following information on the Tor
L. -
attracting the attention OF real estate men
in all parts of the country is taken from the
st. Louis Post-DispaIch of February 16:
In effect the Torrens system OF registering
land titles is in the form of q set of books,
the title of the land appearing as credit and ali
mortgages, contracts or membranes appear
against 1t. With the system III force Is ii pos
sible TO make a transfer OF the title in few
minutes and at a minimum of expense. The
entire system is designed TO be as simple as
possible and an effort is 10 be made to avoid
confusing technicalities which may have the
effect OF clouding a title 10 property. The
forms of application for registration are all
given conclsely in the law and all points
which experience or the knowledge OF real es-
tate owners and lawyers have suggested in it.
Under the old system and that which is now
in common use, the first move made is to OBJ
tain an abstract of title which may OF may not
carry with 1T a guarantee from the abstract
company. This abstracts supposed to include
ell documents from the time the possession OF
United States down to the time when it went
into the possession of the present owners. The
cost of this may run from q few dollars well up
into the hundreds. This must then be exam
ined and passed upon by the attorney for the
prospective purchaser. When this is done the
owner may find some technical cloud which
will deter him from making the purchase, and
all the money has been expended to no good.
The cost for abstracts OF title and examine
tfons by attorney may and often do run up
into the thousands.
:: Under the Torrens law as passed the Regis
trar is entitled to charge $15 for the first ex-
animation made and the issuance OF the GER
tifcate. This includes the charge for the ex-
animation by the attorneys in the employ of
the Registrar. While for five years a title is
liable to attacks, after the expiration OF that
time the title becomes good and it cannot be
gone back of.
The saving OF time and trouble is one OF the
principal features of the Toriens system
Under the registration system an absolute
title is secured in few minutes time by call
ing on the Registrar and securing a copy OF
the page of the register devoted to this par
ticuiar piece OF property. The expense is
small being merely the fee necessary 10 have
this examined by lawyer to ascertain 1ts
legality, as certificate OF the Registrar carries
with it, after the expiration OF the nye years
period an absolute title to the property.
sample of the way the system expedltes
business is shown IN the case OF q loan mace
upon property in Chicago February y. Twas