The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1903-04-26
GOOD WEEK IN
REAL ESTATE
Railroad Situation Has Decided
Effect on the Market.
MANY HOMES BEING BUILT
SCHOOL QUESTION AND ITS RE
LATIoN TO VALUES.
MANY HOMES BEING BUILT

One Of the best weeks for real estate
in the local market for several months
mas just closed. There have been no
. large transactions, but there has been
an active inquiry for vacant lots and
residence property of moderate price.
and the feeling has been hopeful IN
the extreme. The prime cause for this
mas been the announcement that SEN
ator W. A. Clark has bought the Ore
gou Short Line south of Salt Lake and
Wul begin within the near future to
close the gap between Cahentes and
the California terminus of the San
Feuro, Los Angeles & Salt Lake road.
rms. with the progress being made by
the Denver, Northwestern g. Pacific to-
ward Salt Lake, and the less tangible
hope that the Gould system win build
between Salt Lake and San Francisco.
has caused greatly increased confidence
IN the future of the city. with a result
anb demand for real estate.
Rents Being Raised.
The conditions are not highly pleas
ing 20 everybody, for landlords have
SHOWN disposition to raise rents and
tenants are consequently 0bjecting
strenuously. AS rents for modern
mas been 10 force a greater inquiry for
homes 20 be purchased or installments.
Ihls line Of business is steadily increas-
ing, as more and more people are be-
coming convinced that il is cheaper 10
buy than 10 pay rent, and many new
homes are being put up to be purchased
on this basis
The amount Of building Of houses
costing from $1,000 to So. 500 can scarce
" be realized unless one makes a tour
OF the city. In every direction, especial
ly in the eastern and southeastern
parts Of the city, houses Of moderate
cost are in progress Of construction, and
yet the demand has not been satiated
The majority Of these are being sold
under contract. and for that reason
they viii not appear I'm the transfers
for some time The building permits
Issued last week were not large. but &c
is predicted that the number viii in
crease greatly in the next few weeks.
Owners Increase Prices.
Another factor i'm the market which
mas Kept down the amount Of business
has been the tendency Of owners to in
crease their asking prices. Real estate
men generally agree that prices have
the face of this, large numbers Of hold
ers have asked more during the last
week than they did before. The result
has been to keep buyers and sellers
apart. There are enough pieces on the
market at reasonable prices. however.
10 give some activity, and considerable
business is looked for before the warm
weather begins.
The announcement that the new
union passenger station is TO be built
near the site at present occupied by The
oregon Short Line station has increased
the interest IN the locality between
Main, Brigham and Second South
streets and the Short Line tracks.
Warehouses and wholesale houses will
be attracted by the establishment OF
new through lines, and general business
VIII have tendency 10 gravitate to-
ward the big passenger station. For
that reason there is considerable in
quiry In that direction, although the
only recent sale of consequence has
been the purchase of the Continental
hotel corner by Senators Clark and
kearns.