The Saint Paul globe., 1897-10-04
WANT THEM CHEAP.
WOuld-Be Purchasers of Realty Are
Looking for LOV-Priced Houses.

Looking for LOw-Priced Houses.
| There is big demand for cheap
| houses at present." said a prominent
real estate agent to a G | o report
er yesterday, land the city is full cf
them, ready for sale, and at prices
which are genuine bargains, too"
The agent then went on to explain
that when the hard times struck st.
Paul the value of realty was affected
| just as it was in every other city in
the country. A large number of mort
cages We're foreclosed, especially where
the money invested was Eastern cap
ltal, and the present owners of the
| property prefer to get their money out
of 1T even at some sacrifice, instead of
holding on to their real estate In
other words, the money lenders wish
to have their coin drawing interest in
stead of in the present form of in
vestment Thus it is that the property
is in the market and is selling today
for one-half of what it was valued at
several years ago. That it is being sold
readily, and to actual residents who
intend occupying the houses them
selves, indicates that the people of
st. Paul recognize a good thing and
are taking advantage of the situation.
Still there are others who seem in
clined to think that this property can
be purchased still cheaper but they
will recognize their mistake if, as is
confidently expected, the valuations of
real estate will make a general ad-
vance by the opening of next season.
All the agents and others who are
in a position to keep posted, agree that
prices reached their lowest ebb last
summer, and since then a healthy re-
action has set in, stimulated by the
spirited and increasing demand of the
past few weeks. Two months ago the
G l o b e advised it's readers that city
real estate at the prevailing prices, was
a bank which would yield rich returns
for the investment, and the correctness
of this statement is conceded by all
competent judges of values.
The bulk of the renting business is
over for the season; it has been an ac-
tive season, too, and fewer houses or
apartments are idle now than at the
same time of any previous year. The
prices are about the same as a year
ago. There is still considerable in
quiry, both for dwellings and apart
ments, and the demand is especially for
the moderate-priced places, ranging
from go per ulOJ.lU QOWnWdTu.
"There has been a decided boom in
Merriam Park real estate this season.
remarked one agent to a G o b e re-
porter During the summer and early
fall, number of new houses have been
built there and the value of the ad-
joining unimproved property is natural
ly considerably enhanced. These dwell
ings were built in the most part for
OccuDanCV bV the owners" 5"
Although in business property there
has been but little movement during
the past few weeks, one important deal
was made several days ago for a good
sized holding on University avenue,
and several other large transfers are in
prospect for the immediate future.
There has been more call for farm
land this fall than for several years
past largely due, no doubt, to the good
crops and good prices this season. A
number of sales of Minnesota farms
have been made recently by ST. Paul
agents.
The Improvement Bulletin says:
John Entenman, 1911 Minnehaha street,
has begun work on frame cottage,
2Ox4O, on Euclid near Cypress, for Will
lam Wackerfuss, cost $1,000.
H w. Molloy, Is Forepaugh block,
has begun work of improvements and
GT6CIlIl5 ICc IlOuSG OH GOl. OldlT
street. near the Omaha railway tracks,
for j. T. Mcmillan. The storage house
will be 30x125 and the ice house 30x6O.
two stories frame. Cost complete
81, 800
William Smith, 76S Jackson street.
has begun work on a frame cottage for
Charles Metzger on Earl near Burns
avenue. 1t will cost $1,000.
Matthew Taylor has begun work on
a frame warehouse, 37x130, for Nicols
& Dean, on Fifth street between Jack
son and Sibley street. 1t will be en-
tirely covered with corrugated iron
Cost, $1,000.
E. Klinkerfues, 61S East Fourth
street, secured the general contract to
erect the addition to the Zimmerman
building on Minnesota between Fifth
and Sixth streets. A. F. Gauger is
architect.
Matthew Taylor, 21O West Fifth
street, secured the general contract to
erect a brick boiler house, 22x34, on
Selby near Kent street, for ]. K. Nc
Afee Cost complete $4,000