The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1896-11-30
REAL ESTATE
MARKET REVIEW
Property Interests Develop
ing an Upward Ten
dency.
Two Local Auction Sales Seized.
uled for This
Month.
Matters in the Building Line Promise
Large Increase by Next
Spring.

Among the real estate agents. there is a
growing conviction that their business is
tending upward, and the market has assumed
q more satisfactory tone. And yet it cannot be
conceded that the slight improvement is sufii-
Gent to induce owners TO stiffcn prices be-
cause the demand must be very mucn' better
than it is now before values can be materially
affected. 1t is well TO know, however, that the
real estate business shows signs OF the APP
proach of prosperous times; or, rather, that
the worst is past, and San Francisco is
steadily, if slowly, improving. Many prop
erty-owners are obtaining loans on their
possessions ana an analysis OF the applica-
lions reveals the fact that the mortgagerS are
not compelled to borrow money, but on the
contrary, are seeking loans with which TO i'm
prove their property.
This is at least taken as an indication OF en-
terpr Use, and one that promises great deal.
II touches slightly on the speculative. though
lacking the essential qualities OF speculation,
inasmuch as the land offered as security is re-
garded with absolute good faith as more than
enough reason for expanding money IN I'M
proving it. From such condition real estate
men argue that confidence is returning to
people interested in realty.
The history of the different periods of de-
preston in business which have occurred
within the history OF this City would afford
an instructive lesson upon the stable condition
which San Francisco business rests, and the
causes OF recovery when nave go clearly
manifested themselves during the past lew
weeks.
Property values, especially in growing
centerS of trade are not an accurate index of
the degree of prosperity such a place may
enjoy. In but few cities of the United States
are property values fixed. There is the specu-
lative feat lures OF buying and ling property
which too often either leads the investor to
pay more than the property is worth from III e
standpoint OF business investment. or to
undervnlue the property and make an offer
that is considerably below what it actually
ought to sell for.
In one case he makes the investment on a
attain at some time in the near future, and in
the other instance he considers the actual
conditions as they may exist during some
period of great depression. and places value
on the property which is fan below the amount
represented by its actual Intrinsic worth.
The general rule, however, thatinvestments
in property safe, has been eXemp lhed in
San Francisco just as it has in every other
prominent city of the United States, and the
person who makes a judicious investment in
San Francisco property to-day Will realize the
same returns this inve stment the
thousands OF people who have already made
fortunes out OF San Francisco neatly.
There is some property in San Francisco
that has been sold on speculative basis; the
large amount OF property, however, included
within the thiekly settled part OF the City
may at this time be considered as possessing q
value that has all the elements OF stability.
The desirable property OF Sd Francisco has
always formed d basis OF credit which has pre-
vented ANYTHING like crisis in The finances OF
the City. 1t is probably safe prediction that
should the occasion require lt-en issue that
cisco people-an amount of money could De
secured by San Francisco's wealthy property
owners that would carry this City safely
through five or six years of as great depres-
sion was experienced in this country in
1893.
Aside from San Franchises assets in income
producing property, however this City, us the
financial center of the Pacific Coast, has a
fund set aside for rainy day that has not
only carried San Francisco but large part of
the Pacific slope, through one OF The most
disastrous panics the country ever witnessed.
San Francisco's representative banks, with
one or two exceptions, have always been safely
managed, and these banks to-day are among
the strongest IL the country.
1t is no idle boast TO say that IN point of
commercial stability San Francisco ranks with
any city of the United States This fact is rec
ognized all over the Union as well as in every
financial center in Europe. San Francisco S
wealth was won in legitimate trade and man.
ufactures and, being based on the natural re-
sources OF the country, grew in proportion &c
the development OF the agricultural and min
eral resources of the region Tor which she was
the mart. These agencies have contributed to
the building up of a substantial city OF $780,
600 people, with the most extensive lobbine
trade, the leading manufactures and the
largest shipping interests on the Pacific Coast.
The average Eastern man familiar with the
methods OF doomed cities OF the far West
when ne visits San Francisco, is usually sur
prised when he finds here not only extensive
commerce, but so many large financial iDstitu
tons, business-houses and manufactures es
tablished on an absolutely sound basis anc
conducting their affairs on sound bushes:
principles, which more than one Western city
could adopt with profit
PROSPECTS FOR BUILDING.
The following extracts on the building bust
ness for the past month and the prospects o
the future, with q review OF the building fo
the month of November just passed as com
pared with the same month of previous year!
since 1890. are taken from recent number O
VOTES Building News and Review
"There are many plans Tor buildings beins
figured on. and still more for orders which
have been placed with architects. The
dawn of prosperity is gradually Frightening
The grand rain we have had viii bring joy Il
thousands. There will be the largest demand
Golden State"
The following is record OF building each
year during the month OF November since the
year 1890:
Year Value