The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-12-22
A YEAR OF PROSPERITY
REAL ESTATE MEN HAVE
EXCEPTIONAL BUSINESS.
Most of the Years Sales Have Keen
for Cash COnsfderatiOns-Trans-
fers and Permits.

The year 1901 closes the most prosperous
year the real-estate dealers Of indianapolis
have known. 1t Is said there nave been
sore bona hde sales-sales in which there
were actual cash considerations and not a
trade or transfer for love and affection
The war revenue stamps required on deeds
up Till July 1 OF this year was one of the
reasons why so many deeds were made
without money considerations being ap-
parent. The year has not been marked
BY a mushroom growth in the market. but
the increase has been Of a steady and
substantial nature. with good and firm
prices. Besides the increased number of
sales. Indianapolis property has greatly in
creased in value and rentals have followed
the upward tendency in a corresponding
manner. There has really been a lack of
rental property ranging in price from s12
TO so a month. The demand for fats has
pushed the rental price OF apartments up
ward. yet no noticeable reduction has been
made IN the rentals OF residence properties.
except IN the extreme outskirts Of the city.
John I. Plummer. Of the II. Plummer
agency, IN speaking Of the years real
estate business, said: "Th real-estate
market during the year has had many
peculiar features. There seems to have
Deen a constant demand for property in
the north and northeast part of the city,
as well as business property, but the lat
Ter mas not been purchaSable. The bust
ness or the year, however, from first to
last, has been extensive and steady, rep
resentlng deals OF good quality, and, above
all, sales have generally been for cash
considerations 1t is my opinion that the
sales Tor the year will amount TO more
n those Of the two preceding years.
Ihere has been a continual hustle for prop
erty mat would bring a reasonable per
cent. on Investments.
The people OF indianapolis no longer en-
terrain a great fear of street improve
ments, as they are coming 10 realize that
street improvements will be made in all
parts OF the city at some time and that
the Barrett law, which gives them ten
years IN which TO pay for the Improve
ments, affords an opportunity not half so
bad as considered several years ago. With
this law over them the people had grown
accustomed TO fear its enforcement, but
now that the community has lived through
the mutation OF a street Improvement law
and 1t has proved its value, it no longer
retdrds Investments"
There We're fewer proceedings filed for
the foreclosure of Improvement liens in
the last year than at any time since the
Barrett law went into effect. This may be
accounted for by the general commercial
and Industrial prosperity, but it is also
learned that the easy payments for street
Improvement under the law are not so
hard 20 meet as at first represented.
The demand for business property and
the failure Of real estate men TO supply
the demand has been a source of much
anxiety 70 all agents. The rapidity with
which the many business blocks erected
during the year have been occupied has
stimulated a desire FOR investments along
this Inc, but they could not be made be-
cause prOperts- could not be purchased at
nguIeS that would leave sufficient margin
to undertake the improvements.