The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1902-04-06
BRISK SALE OF LAND
REAL ESTATE MEN REPORT BUS
MESS TO BE EXCEPTION
ALLY HEAVY
MANY ARE BUILDING HOMES
Large Increase In Number of PeO~
pie Who are Buying Prop
erty With a View to
Keeping 1t.

Demand for real estate in st. Paul is,
at present, the largest of its character
known for many years. Every real es-
tate dealer in the city reports business
lively and of class that is particularly
desirable. A canvass by L h q e
yesterday invariably elected the answer
as to the condition of business, that it
was exceptionally good.
Not only is the demand for real estate
brisk but it is not speculative in any
sense. Every person that buys a lot,
buys it with the intention of owning and
using it. Another feature of the situa-
ton is that nearly all the real estate
transactions are now made for cash,
where a few years ago only one-fourth
was paid down In the interurhan dis
tricts there are new houses going up
every day, and the homes show a~de-
cided Improvement over these erected
some years ago. Even the cheaper class
Of houses are now built with ideas as to
external beauty and internal convenience.
The cause for this condition CT the mar
ket is given differently by real estate ex-
perts, but the reasons all fundamentally
revert to the prosperity of the city IN
every line of business. The increase or
business establishments drives residents
farther back, and as the increase of bust
ness establishm ents depends entirely upon
trade, it follows that trade IS the prime
motor in the disposal of real property for
homes.
Outlook Is Excellent.
When seen by h e G o b e yesterday,
H. S. Fairchild said: "The outlook now
is all that man can reasonably ask for.
Everything is at it's brightest point. There
is a good, steady market for real estate,
and the city is growing rapidly. The most
encouraging part of this is that it is a
without q "
speculation. More people are buying real
estate for their own use, and l think that
I may safely say that in nine cases out
Of ten every real estate transaction is now
made for a cash consideration.
Previous to the hard times there was
considerable speculation in real estate
and in very few cases did the purchaser
have the cash ready to pay in full. Some
paid one-half, some one-fourth and others
still less. Then came the hard times, and
found the banks of the city flooded with
real estate paper Of all kinds. The prop
erty was bought On time, and the price
paid was in proportion. The result was
that there had to be a general liquidation.
Mortgages were foreclosed, voluntary set
Elements made and many went through
bankruptcy.
Now, that the condition OF business
has changed, and the era of prosperity
has arrived, everybody is starting out with
a clean slate, and has the money with
which to buy any property desired. For
this reason they secure their homes
cheaper, and once they have them, they
own them.
1.-THE reasons for this are many, and
are due in a large measure to the bust
ness prosperity of the city. 1t is a mat
ter Of fact that nearly every business
house in the city is charging one way or
the other. Additions are built or additional
stories are put on, or else other buildings
are occupied.
Railroads Buying Land.
''Then again the railroads are putting I'D
extensive improvements In different por-
TONS of the city that were formerly oc-
cupied by residences. The people who re-
sided in these communities are moving
out, having sold their homes at good
price, and are able to buy new and better
ones know of one instance where a
railroad displaced thirteen families, and
this is not at all uncommon. The aver