El Paso daily herald. (El Paso, Tex.) 1881-1901, 1901-02-11

|
If indications are of any value Ell
Paso is on the verge of a boom and
at any moment prices of real estate
are likely to jump sky high and wild
cat condition of the market may re-
suit.
| Conservative real estate dealers are
| reluctant to admit that a boom is
| threatened and do not want one, but
all of them say that the tendency of
the market is decidedly bullish and
! that the upward tendency of prices
may pass beyond all control at any mo-
ment.
| During the past week sales have been
greater than for months and the price
per front foot. especially for business
property. in some sections of the city,
has doubled within the past 80 days.
| During the past 80 days there have
been more actual transfers than ever
before in the history of the town in the
same period.
| The demand for property is increas-
| ing daily and outsiders are sending in
cash for investment.
Such men as c. Il. Eddy. who are ia
miliar with every phase of speculation,
are advising their friends to invest
heavily in FL Paso realty, and local
capitalists are buying. wherever they
find desirable property offered at a
reasonable figure.
Prices are already jumping" said A.
p. Coles this morning. 1T is easier to
get the purchaser to close the deal at
the price offered than to get the owner
to accept the valuation that he has
put on the property. Everything indi
Gates an upward tendency of the mar
ket. / do not want to see a boom. /
had rather see constant but certain
increase of prices.
while all over the city the price of
realty is going up. yet the rise is great
er in some quarters than in others. l
have known business property on Tex
as. st. Louis. South Stanton, and South
Oregon streets to change hands three
or four times during the past ninety
days and each purchaser made from
ten to twenty per cent on his invest
ment. The indications are that these
parts will be improved with business
buildings and will become prominent
as business streets. In some quarters
residence property has gone up rap
idly. but in many instances there have
been no marked changes. although
constant inquiries are coming in and,
individually. l made three or four sales
per day during last week.
No. there has been as yet. no wild
scramble for property, such as accom-
panies a boom. but capitalists are in
veSting right along and a boom may
come, but l don't want to see it,
Just then c. r. Morehead came in
and said:
Coles. I'll take those two lots
I'm sorry. said Coles but they
are now held at $500 EACH
But you told me Friday that could
have them for s425 and as man to
man you ought to stick to your prop |
osition.''
After an argument Coles agreed to !.
let the lots go at s425 each, cash. and !
the deal was closed.
Quite Active.
Charles Stevens, of the H B. Stew
ems real estate firm reports the market /
quite active.
Il have got more work than j can |
do" said he. THE demand for proper
ty is constant and in some sections of
the city there is already slight boom.
There was an unusual scramble 20 get
South Stanton street business proper |
ty. but it has about subsidized.
Residence property continues to adj
vance steadily and business property is |
jumping. l have known the price of
certain lots to advance 80 per cent in
the past ten days.
Yes. a boom is threatened but
don't want to see it come. Most of the
capital now being invested is local.
When outsiders become interested the
boom will strike u.s.
Expects Boom.
Major B. F.. Hammett, one of the
most conservative dealers in the city |
said:
Property values are constantly and
rapidly advancing in certain localities.
The price of residence property is in
creasing gradually. There is heavy