The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1896-11-15
ST. PHUL REHLTY


atty, and especially that in st. Paul,
is the sale made the past week, to an
outside investor. of one of the sub
~stantial business blocks. There is
considerable wonder among the agents
as 10 just where the property is, for
the sale was made very quietly, and,
it said, without the aid of any real
estae agen. The property, which is
right in the very heart of st. Paul,
consists Of a good bit OF land and
the block upon it, filled with an excel
lent elias of tenants.
The consideration is stated to be sin
the n~eighborhood of 500, 600, while the
purchaser is a gentleman hailing from
Virginia, who, although he has been
but little in his city, has heard of st.
Paul. and has confidence in her sta
bility and growth.
From the best report, it is learned
that title to the property is being care
fully examined, and that this detail is
all that stands before the
ton of the bargain and the signing
OF the necessary papers.
The purchase it is explained is purely
in the nature of an investment, and
is taken by the few persons who knew
of it yesterday as being significant.
They believe that it will have a ten
dency to Immediately revive the old
faith in st. Paul property, which will
result in more n larger transactions.
There is much better feeling among
the dealers in real estate, n in adj
dition to the deals reported there are
incidents that suggest a healthier mar
ket soon. Many owners are advancing
prices and some are withdrawing their
property from the market. Money is
more plentiful for loans and there is
renewed inquiry for moderate priced
homes.
The fall rental business is a thing of
the past, and only an occasional tran
silent or regular tenant needs the
service Of a rental agent.
Sellers of real estate, or rather those
deslrous OF selling, cannot do better at
any time to help themselves than to
consult a well-known broker and to
place at least some reliance in what
ne says. Foo many people when told
by their broker that their property will
only sell for so much, are insulted at
the price he puts on it, if small, and
walk away in high dudgeon both at
him and themselves. The broker is not
responsible for values or prices; he is
a creature Of circumstances, and only
knows the market value of today.
What people paid or what property was
worth is none Of his business; but he
does know what people are willing to
pay, and tina t makes his basis of
figuring. When a broker asks you
for a price, let him nave it; help him to
sell and you will help yourself. List
your property; choose the best broker
you can, n you are bound to come
out a gamer in the long run.
Real estate men feel confident Of a
decided improvement in the market as
the result Of the election. Capital has
been timid. The scarcity of money has
delayed negotiations and made them
impossible ind existing conditions.
Rents nave been we'll maintained under
the circumstances, but have been re
duced to meet the condition of gen.
eral business. Since the election there
is a noticeable improvement in the de-
mand for loans, residence and business
property.
1T is cot expected by the agents that
there will be any decided increase in
the volume or extent of transactions
for sore time to come, as real estate
is the Virst to feel the bad effects of
dullneSA in the commercial world and
last to rA%ver from it's depression, 1t
is predicted that the Improvement will
be gradual from now on and that in
the spring the market will resume it's
activity. 49,
Another result of the election will be
the renewed demand on the part Of
small investors for building lots n
homes. Owing to the dizziness in all
Industries, the little demand for skilled
labor and the reduced wages paid
mechapicS and laboring men, the de-
mand&1r this class of property has
been uns&ually small. With the return
OF prosperity, renewed activity in the
industrial and manufacturing c%enters,
which must follow as the result of the
late election, labor will be better en-
plOyed and at fair wages, thus enabling
the mechanic and laboring man to pur-
chase a home. While the result may
not be felt at once, as it takes time
for these people to accumulate, yet it
is sure to follow, n encourage parties
who make subdivisions and retailing of
lots a speciality to invest in outlying
acres even now, which will, create a de-
Iland for this class of property.
Building operations will be resumed,
giving employment to thousands of
mechanics and laboring men and Great
ing a demand for building materials of
all kinds. No part of our business,
however, will feel the immediate eff
fects Of the election more thar the loan
market,
The regular meeting of the Real Es-
tate exchange was held Friday, when
the improved realty situation was dis
CUSSed among other things. The men,
bership of the exchange is now forty.
Here's another nice little straw. The
Northern Pacific Railway company re-
port that their and sales during the
past year amounted to 81, 641, 551, about
81, 000, 900 more than the previous year.
Without exception there is but one
way to attract readers to real estate
advertisements; n is to treat your
patrons as large dry goods houses and
similar concerns treat theirs, by using
display n plenty of it.
William C. Reed-Borrowers are
paying their coupons more promptly
and tenants are paying up arrears in
rent. and, altogether, business has q
much more prosperous air. Money Is
more plentiful than good applications,
whilst previous to election the reverse
was true.
Reese & Co.-Our list of business
chances, handled since election, has
materially increased, and the greatly
increased inquiry points to still more
Improvement. We have been dealing
in stores and stocks Of goods, and the
volume Of business done lately is larger
than we have ever done before.
H. 81 Val. J. Rothschild-We ave
closed up some small sales this week
made about the 1st Of the month.
There has been a little more than the
usual inquiry for properties at this
season of the year. In different ways
we have felt the renewed confidence
In real estate and mortgage invest
merits. The principal demand at the
present time seems to be for homes
ind building sites, which must, as q
matter Of course, be offered low enough
to make the purchase an inducement.
We do not expect any particular &C
tiyity before the holidays, but with the