The herald., 1897-05-07
REAL ESTATE REVIEW


reporter yesterday as to the real estate
market was most encouraging. While
important sales are not numerous, the
market is firm. with an upward tendency.
Business is generally better than one
year ago and the outlook is more promis-
ing than for several years. There is
large amount Of capital ready for in-
vestment, only waiting the desired op-
portunity. Eastern advices are more
favorable and people from that section
now in Los Angeles feel more inclined
to investment Many are waiting for
the settlement of the San Pedro harbor
matter and the announcement that work
will begin in specified time. A marked
advance in realty business will surely
take place as soon as the good news is
announced.
Inside business property is hard to
find and values have an upward tenden-
cy. Main street Is advancing, Spring
street continues to hold up, judging
from the sales recently made The Has
san property on the west side just below
Seventh, sold by the administrator last
Friday. was started at $3.50 per front foot
and the purchaser, Mr.. Vandervoort of
Pasadena, paid $400 per foot for 60 feet.
There are many purchases for first
class residence property for spot cash,
and also numerous inquiries for cheap
lots from people of small means who
desire to build homes.
Long Beach and Terminal Island pro-
perty is also having d mild boom.
Easton, Eldrdge & Co. say they have
had more inquiry for city property dur
ing the past two weeks than during any
month of the winter. This company has
just closed a contract for the Eighth
street tract. fronting Alameda and
Eighth, and teams will be put to work
grading the streets today. One hundred
and fifty lots will be put on the market
at once at lower prices than have been
offered in that section before. It is a
most desirable location for employees
of manufactures. as 1t is within easy
walking distance of the district where
many are employed. There is general
Improvement in that part of the city.
Within block of the new tract there
are dozen neat cottages being erected.
Clark & Bryan report business proper
ty firm and hard to find between First
and Fifth. on the three principal streets.
The general outlook Is better than for
some time past. By the first of October
a lively movement may be looked for.
There is now a good demand for cheap
residence lots for home building, which
is good sign. This firm had 46 teams at
work yesterday on their new S6-acre
tract corner of Pico and Hoover The
work of grading and cementing will be
completed by October l.
Grider & Dow: We find the realty mar
lot Arv, xx,itI - ctc for dive
The harbor question Is holding back
some investors. Plenty of people here
with money. Residence lots changing
hands for building purposes. We look
for great improvement in all lines at
an early day. Loans are much easier.
Better demand for renting properties
than usual at this time Of year. The
good crops which are assured will sti-
mulate country property, which is al
ready in fair demand. The prospective
electric railway down San Pedro street
will develop one of the best residence
esctions Of the city. Prices on property
already show marked advance.
Gowen-Eberle Co.: Business fair with
good prospects for improvement En-
QuirieS continue good, Several sales
made last week and other important
deals on hand; city property principally
Inquiries for ranch property, for alfalfa
and dairy purposes, on the increase.
There is plenty of capital ready for in
vestment in business lots and blocks
that are desirable as to location and
price. No question about a better out
look for general business than hereto
fore. Owing to the vast amount of build
Ing or late rentals have been lowered a
little, which is good thing for the mas
ses and the city In general
A. e. Pomeroy; The realty market,
although quiet, is firm, with prospects
for brisk demand in the near future
Some business. and country property
changing hands. Grain land is better
than formerly and fruit land is selling
well. Since the prospect for an orange
tariff, the price Of this olasB Of property