The herald., 1898-12-29
REAL ESTATE REVIEW
A SUMMARY OF THE NORTHERN
MARKET FOR THE YEAR
OPENING OF THE TUNNEL BIDS
Necessity for Caution in Making the
Award for Public Work-Local
Real Estate Notes
OFFICE OF THE HERALD,

Los Angeles, Dec. %, 1898.
The condition and history of the real es-
tate market in San Francisco during the
year about closing is reviewed by the News
Letter of that city in an article from which
the following extracts are taken:
The year 1898 in realty matters has been
very much of continuation of the season OF
1897. A general readjustment OF values has
been taking place, and il the season OF 1897
had been more propitious throughout the
interior of the state, it would have had u
very direct effect upon realty values in
the city of San Francisco.
In making retrospect for the year, it is
certainly very clear that conditions have
been generally improving in steady and
substantial manner, and it needs only the
impetus of a good season to nave 1orceu
matters ahead very materially.
The savings banks and mortgage holders
generally have brought about readJustment
Of indebtedness, and altogether a more
healthy condition prevails in this direction,
and the elements are now much more favor
able for money borrowers, and financial IN
stitutions generally have been accumulat-
ling such surplus that they are ready to
entertain applications for loans, and meet
borrowers with margins on present values
and at interest rates within reason.
1t seems absolutely as clear as the hand
writing on the wall that with fair season
during this present winter, 1899 will see
a great revival in realty circles, and no doubt
q marked advance in values over present
quotations.
The repaving of Market street and remov-
ing of all rails but the double tracks OF the
Market street system has given great sat
isfaction to the travelling public generally,
nd Of streets
leading into this principal thoroughfare, and
has proven very directly that as our street
paving improves it is an incentive to prop
crty holders generally to improve their
property and bring it up to the present
requirements, i'll order to secure the better
class of tenants.
As a result of the destruction of the Bald
win hotel, it may be expected that the GEN.
ter of the city will be fastened at this point
for q number of years to come by the cree
tion of a substantial and modern building
fully up with the times, and about which
central point the city of San Francisco is
likely to vibrate for the next quarter of
century.
During the season of 1898 the most
marked improvement in the way OF build
ing, and showing a special change, is in the
section known as Preside heights. A num-
Der of important parcels have changed
hands, and a number of new modern resi-
dences have been constructed. Considerable
activity has heen shown in the section
known as tho Panhandle" and west OF
Baker street, sud especially in the Sunset
heights district, lying south of Golden Gate
park, west OF Seventh avenue, and adjacent
to the Olympic club grounds. A general
sewerage system is Seing outlined in this
section, and as a result of the faith Of the
property holders in that vicinity, number
of new modern residences have been built
this last summer and strong activity pre-
vlis.
1t is a notable fact that the one section of
the city which has maintained its value
through all the financial depression is the
northwest portion, being the choice resi-
dcnce part of San Francisco, and it is di-
rectly due to the fact that this special Sec
ton is not large enough to supply the de-
mand. From Van Ness avenue west to
Baker street, from California street orth,
choice residence lots have been continu-
ously in demand at full market prices.
During the year the motor line of the Park
and Ocean, running north through Stanyan
street, alongside of Golden Gate park, has
ern electric street railway, and with single
fare from the ferry to the ocean beach, is
making this line of travel exceedingly popu-
lar, and is having direct beneficial effect
on property along the line.
From present indications it will not be
tOHy DeiOre " cIdnBe OF ownership Will take
place with the Sutro line, and possibly the
road will pass into the hands of other local
railway companies. 1t is understood that
the Sutter Street Railway company will
now transfer to the Sutro line, and is
likely to be a strong bidder for the property,
which would prove a very important adj
junct to this popular line.
Possibly MO portion Of the city is growing
more rapidly and in more healthy manner
than the sections lying on both sides OF
Golden Gate park, which are now being
made available from the water front by q
single fare. A general encouragement OF
street work on the part of the owners of
these properties means regular improve
ment of land in these sections, and an ad-
vance in prices in a regular and legitimate
manner.
In making review of the season of 1898
IT Is clearly demonstrated that bottom prices
have been reached and a new interest is
beginning to be created in properties gen
orally. 1t is safe to say that all classes of
holdings are interesting investors. No par
ticular line of real estate has any special
preference. Altogether this is a healthy
condition, and indicates that real estate
IN the metropolis is looked upon as profit
able investment, good times or bad
All indications point to the fact that val
ues have reached their lowest point, and
the elements are exceedingly favorable for
the year 1890.
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