The morning news. [volume] (Savannah, Ga.) 1887-1900, 1899-09-07
,gs. Pkgs.
REAL ESTATE.

There is no species of property which
| holds SO strong position in the estimate
| of the people of this community and vi
| entity as real estate. In the troublesome
times of liquidation and of war it has
been demonstrated a thousand times that
real estate is the surest basis of wealth"
| 1t has pulled many of our people through
| ordeals that proved financial disasters 10
those who had it not. 1t is not surprising,
| therefore, when peace smiled upon us and
We counted the dollars that the soldiers
| left behind that realty was sought as the
| surest investment.
| Very largely contributing to the great
demand that has, and still exists, for real
| estate investments, was the action of the
| banks reducing the rate of inter
| est in the savings institutions, thereby
| throwing money on the market for in
vestment This, and the high rate of
| premium charged on most good securities
| have all conspired to strengthen the posi-
| ton of real estate.
| The increase demand has led to many
| transaction, brokers have been busy and
| all report a much better year than was
expected. Recently, the purchase of a
| large territory for the union depot, where
| by a large number of families are com.
| PEELED to seek new homes, and invest ors
| to seek new Investments has contributed
no small part in increasing the demand for
| real estate and the number of transac-
| tons. a great IedA OIL property mas
| changed hands, much of this is for in
| vestment purposes and a large amount
| has been taken by genuine home-seekers.
| Never before, for years, has there been so
| much building done in Savannah. New
| houses are in the course of erection in all
| parts of the city, and the character of the
| improvements are of such as go to make
an attractive city of homes. Vacant lots,
| for home purposes, have been in great de-
| mand and there appears, as yet no abate-
ment of the call for eIigibly located build
ing sites
In consequence of this condition, there
has been a considerable stiffening of
prices, which has been paid. There seems
nothing to make hazardous the prediction
that real estate, and, particularly, vacant
lots will continue TO advance in price.
Nothing that car now be forseen threatens
the situation, and those holding for spec
ulation are certain 10 realize their hopes
for profit.
There is good reason for such expecta-
ton. Savannah is certainly to-day the
most promising city in the South.
Business in no department, has
ever been overdone here. Capital
is seeking investment here. and
our best industries and enterprises are be-
ing absorbed by the capitalists of the East
and West The great trunk railway sys-
TENS of the country are seeking our port
as their terminal for ocean business
which means capital and population. We
have been advertised by the government
and by the thousands of soldiers as pos
| sessing superior business facilities, a de-
ightful, healthy climate and a cosmopolI-
tan population, who welcome those who
come in our midst for proper purposes
Savannah is an ideal place for living, and
it must be misanthrope who does not
acknowledge it as soon as he has been
here a short time The dollars are made
easier here than in most places and will
also buy more comfort in living than in
most places
In the matter of rents the situation
seems particularly strong. Although there
has been an unusual amount of building
done during the year, and al this time
there are a large number of houses in
process of construction Yet, already
there is complaint of the scarcity OF
| houses. While many rent contracts are
made in July and August, the greatest
demand is felt after the summer months
have passed. Many of the newcomers
move their families from former homes
in October and November.
In view of this fact, the influx of pop.
ulation to be expected from recent new
enterprises, and the demand from those
who sold their homes to the Georgia and
Alabama Railroad, it is not unreasona-
bic to expect a considerable shortage ia
houses during the year 1S99-19OO Notwith-
standing these facts landlords have not
advanced rents but have been. and still
are very firm at old prices and a little
more independent about repairs and i'm
provements.
The prospects seem very bright for the
business of the city. which always mean
| large investments in real estate. with a
strong leaning to vacant property as the
best means for profit making.